The real estate stats for June are here! We can compare the Miami Dade June 2018 market update to the corresponding data from the same time last year.
First off, the median time on contract dropped from 48 to 43 days. In other words, homes sold more quickly than last year, which is good news to home sellers. Fewer days on market can also mean there was competition for homes, which means more families selling at (or above) their asking price.
The data also shows that families purchased more expensive homes this year. While the number of homes sold dropped slightly, the total amount of money spent buying property climbed 17.1% from last June.
Home values in the Miami-Dade area have appreciated by 6%, meaning Miami-Dade homeowners saw a healthy growth to their investments.