May 2012 Miami Real Estate Search Porn by Realtor.com

I always toy around in my head how to present generalized stats like these.  I always wonder how relevant it is for us to know how Miami places in search rankings as compared to  other cities around the country.  Can this affect you as a buyer or seller, knowing that Chicago was the number 1 searched real estate market in the country?  Personally, I don’t think so, I rather see Miami being compared to Miami; but I provide the numbers for those of you that do see relevance.

May 2012 Real Estate Search Results are in from REALTOR.com  and Miami, FL was the #24 most searched market in the country.

• Median list prices for homes in Miami, FL hit $275,000 in May 2012, a 15.54% increase from one year ago this month, and 0.00% increase from April 2012.  The national median list price in May 2012 was $194,900, a 3.17% increase compared to May 2011.

• Active for sale inventory of homes in Miami, FL in May 2012 leveled out at 11,222, a -32.00% decrease compared to May 2011. National inventory counts for May 2012 were 1,876,924, a -20.07% decrease as compared to a year ago.

• The median age of inventory in Miami, FL in May was 73 days, a -3.95% decrease compared to April 2012.  Nationally, the median age of inventory was 83 days, a -1.19% decrease compared to April.

So how does Realtor.com arrive at these numbers?

Each month, Realtor.com surveys up to 250 Metro Service Areas (MSA) throughout the nation and monitors real estate trends including consumer search behavior, median list prices on for sale homes, active inventory counts and median age of inventory. The information is released to local markets to help consumers and real estate professionals as they work together to successfully navigate their local market.

Thanks to REALTOR.com for providing these stats for us.