Inventory
Months Supply of Inventory
Monthly Market Detail - August 2024 Single-Family Homes 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 ) |
3,929 |
22.0 % |
August 2024 |
4,183 |
36.6 % |
July 2024 |
3,988 |
39.4 % |
June 2024 |
3,929 |
35.0 % |
May 2024 |
3,949 |
30.8 % |
April 2024 |
3,864 |
27.3 % |
March 2024 |
3,768 |
14.2 % |
February 2024 |
3,895 |
7.7 % |
January 2024 |
3,856 |
-2.7% |
December 2023 |
3,755 |
-7.1% |
November 2023 |
3,856 |
-10.1% |
October 2023 |
3,550 |
-14.3% |
September 2023 |
3,318 |
-15.2% |
August 2023 |
3,062 |
-19.7% |
7,000 6,000 5,000 4,000 3,000 2,000 1,000
0
2020 2021 2022 2023 2024
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 ) |
4.4 |
25.7 % |
August 2024 |
4.7 |
34.3 % |
July 2024 |
4.4 |
37.5 % |
June 2024 |
4.4 |
33.3 % |
May 2024 |
4.4 |
33.3 % |
April 2024 |
4.4 |
33.3 % |
March 2024 |
4.3 |
22.9 % |
February 2024 |
4.4 |
15.8 % |
January 2024 |
4.4 |
10.0 % |
December 2023 |
4.3 |
7.5 % |
November 2023 |
4.4 |
10.0 % |
October 2023 |
4.0 |
8.1 % |
September 2023 |
3.8 |
8.6 % |
August 2023 |
3.5 |
6.1 % |
6.0 5.0 4.0 3.0 2.0 1.0 0.0
2020 2021 2022 2023 2024
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 .