MIAMI BEACH

2023 Mid Year Market Report

The purpose of this study is to help you understand the dynamics of Miami’s different markets and get an insight into Miami Beach’s market performance and trends. When considering an investment in Miami’s real estate, the best decision is always a result of the best information.

Our highest priority for our clients is to preserve and protect their legacy. No one does more research about the Miami market than us. For forecast or projections for Miami for the remainder of the year or any other specific market, please contact us.

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This APT Market study was compiled from data obtained from the MLS. It was made with information of sales through June 30, 2023. While it pertains to the surveyed area’s sales, it doesn’t include any off market sales. The information contained herein is deemed accurate, but can’t be relied upon. We are not responsible or liable for input, calculation errors and/or errors of omissions and market changes. We always advise those who wish to utilize this data to corroborate such information for themselves. Equal Housing Opportunity. This is not an intention to solicit listing from other brokers.

- Excluding previous year boom, average sales prices are at historic levels. They are up an astounding 67% from pre-Covid 2019

- The average sales price has decreased by 2.7%, bringing it to new record levels of $5,379,743 except for the average sales prices seen during last year’s housing boom

-The average sales price per square foot for all homes slipped 5% to $1,277/SF and for $1M+ homes by 8% to $1,323/SF

- Number of home and $1M+ home sales declined year over year