Miami-Dade County Market Report Miami-Dade County Market Report | Page 2

Closed Sales
Monthly
Market Detail - May 2024 Single-Family Homes Miami-Dade County
Summary Statistics
May 2024
May 2023
Percent Change Year-over-Year
Closed Sales Paid in Cash
1,102 1,040 6.0 % 289 253 14.2 %
Median Sale Price $ 650,000
$ 620,000 4.8 %
Average Sale Price Dollar Volume
$ 1,189,809 $ 1,036,150 14.8 % $ 1.3 Billion $ 1.1 Billion 21.7 %
Median Percent of Original List Price Received
96.2 % 96.8 % -0.6 %
Median Time to Contract 33 Days 27 Days 22.2 %
Median Time to Sale
76 Days
71 Days
7.0 %
New Pending Sales New Listings
1,119 1,536
1,093 2.4 %
1,336 15.0 %
Pending Inventory 1,681 Inventory ( Active Listings ) 3,949 Months Supply of Inventory 4.4
1,709 -1.6 % 3,018 30.8 % 3.3 33.3 %

Closed Sales

The number of sales transactions which closed during the month
Economists ' note : Closed Sales are one of the simplest — yet most important — indicators for the residential real estate market . When comparing Closed Sales across markets of different sizes , we recommend comparing the percent changes in sales rather than the number of sales . Closed Sales ( and many other market metrics ) are affected by seasonal cycles , so actual trends are more accurately represented by year-over-year changes ( i . e . comparing a month ' s sales to the amount of sales in the same month in the previous year ), rather than changes from one month to the next .
Month
Closed Sales
Percent Change
Year-over-Year
Year-to-Date
4,616
3.7 %
May 2024
1,102
6.0 %
April 2024
1,065
6.5 %
March 2024
1,041
-4.8%
February 2024
764
5.1 %
January 2024
644
8.6 %
December 2023
754
1.3 %
November 2023
707
-1.5%
October 2023
871
-1.5%
September 2023
894
2.9 %
August 2023
948
-8.1%
July 2023
910
-8.9%
June 2023
1,004
-11.9%
May 2023
1,040
-12.8%
2,000
2020 2021 2022 2023
1,500
1,000
500
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
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 Friday , June 21 , 2024 . Next data release is Tuesday , July 23 , 2024 .