Inventory
Months Supply of Inventory
Monthly Market Detail - August 2024 Townhouses and Condos Miami-Dade County
Inventory ( Active Listings )
The number of property listings active at the end of the month
Economists ' note : There are a number of ways to define and calculate Inventory . Our method is to simply count the number of active listings on the last day of the month , and hold this number to compare with the same month the following year . Inventory rises when New Listings are outpacing the number of listings that go off-market ( regardless of whether they actually sell ). Likewise , it falls when New Listings aren ' t keeping up with the rate at which homes are going off-market .
Month |
Inventory |
Percent Change
Year-over-Year
|
YTD ( Monthly Avg ) |
9,310 |
45.3 % |
August 2024 |
10,094 |
57.6 % |
July 2024 |
9,775 |
60.1 % |
June 2024 |
9,588 |
56.8 % |
May 2024 |
9,456 |
49.8 % |
April 2024 |
9,230 |
45.5 % |
March 2024 |
9,088 |
39.4 % |
February 2024 |
8,826 |
32.4 % |
January 2024 |
8,421 |
23.7 % |
December 2023 |
7,690 |
15.4 % |
November 2023 |
7,720 |
12.0 % |
October 2023 |
7,255 |
9.0 % |
September 2023 |
6,685 |
4.5 % |
August 2023 |
6,405 |
1.7 % |
20,000
2020 2021 2022 2023 2024
15,000
10,000
5,000
0
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A
Months Supply of Inventory
An estimate of the number of months it will take to deplete the current Inventory given recent sales rates
Economists ' note : MSI is a useful indicator of market conditions . The benchmark for a balanced market ( favoring neither buyer nor seller ) is 5.5 months of inventory . Anything higher is traditionally a buyers ' market , and anything lower is a sellers ' market . There is no single accepted way of calculating MSI . A common method is to divide current Inventory by the most recent month ' s Closed Sales count , but this count is a usually poor predictor of future Closed Sales due to seasonal cycles . To eliminate seasonal effects , we use the 12-month average of monthly Closed Sales instead .
Month |
Months Supply |
Percent Change
Year-over-Year
|
YTD ( Monthly Avg ) |
8.5 |
73.5 % |
August 2024 |
9.5 |
75.9 % |
July 2024 |
9.1 |
78.4 % |
June 2024 |
8.9 |
78.0 % |
May 2024 |
8.6 |
68.6 % |
April 2024 |
8.3 |
69.4 % |
March 2024 |
8.2 |
74.5 % |
February 2024 |
7.8 |
73.3 % |
January 2024 |
7.4 |
68.2 % |
December 2023 |
6.8 |
65.9 % |
November 2023 |
6.8 |
70.0 % |
October 2023 |
6.3 |
65.8 % |
September 2023 |
5.8 |
65.7 % |
August 2023 |
5.4 |
58.8 % |
15.0
2020 2021 2022 2023 2024
10.0
5.0
0.0
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A
Produced by Florida Realtors ® with data provided by Florida ' s multiple listing services . Statistics for each month compiled from MLS feeds on the 15th day of the following month . Data released on Thursday , September 19 , 2024 . Next data release is Wednesday , October 23 , 2024 .