After some stabilization during summer, inventory levels started to accumulate while asking prices decreased by 10% from their peaks. Inventories were approaching levels last seen near the beginning of the pandemic.
Report period: Q3 2023
While still at a record low, the number of single-family homes in Miami-Dade County started to increase. The average asking price was about $2.5 million, while the average sold price was just above $1 million.
Condo inventory remained at record-low levels. The average asking price was about $1.25 million, while the average sold condo price was $583,000.
While still at a record low, the number of single-family homes in Broward County was also increasing. The average asking price was about $1.4 million, while the average sold price was $770,000.
Condo inventory was increasing quickly. The average asking price was about $465,000, while the average sold condo price was $330,000.
The number of single-family homes in Palm Beach County was increasing steadily from the summer minimum. The average asking price was about $2 million, while the average sold price was $785,000.
Condo inventory was also increasing. The average asking price was about $670,000, while the average sold condo price was $466,000.
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