GITNUX MARKETDATA REPORT 2024

Miami Real Estate Market Statistics [Fresh Research]

With sources from: zillow.com, housingpredictor.com, floridarealtors.org, census.gov and many more

In this post, we present an overview of key statistics capturing the current state of the Miami real estate market. From median house prices and home sales to demographic insights and new construction trends, these statistics offer valuable insights into the dynamics of the Miami housing market.

Statistic 1

"As of August 2021, the median house price in Miami is $415,000."

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Statistic 2

"In 2020, total home sales in Miami-Dade County increased by 7.9% compared to 2019."

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Statistic 3

"The average age of homes in Miami is 36 years."

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Statistic 4

"Approximately 29.5% of Miami residents live in multi-unit structures."

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Statistic 5

"In 2020, the median income for Miami homeowners was $58,822."

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Statistic 6

"As of 2020, Miami’s population is approximately 467,963."

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Statistic 7

"The average household size in Miami is 2.6 people."

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Statistic 8

"In 2020, the number of new construction homes sold in Miami-Dade County was 1,258."

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Statistic 9

"As of October 2021, there are 99 new construction homes available in the Miami real estate market."

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Interpretation

In conclusion, the real estate market in Miami reflects a mix of resilience and growth, with a median house price of $415,000 as of August 2021 and a 7.9% increase in total home sales in 2020 compared to the previous year. The statistics also reveal a diverse housing landscape with an average home age of 36 years and nearly a third of residents living in multi-unit structures. The median income for Miami homeowners in 2020 was $58,822, and the city's population stands at approximately 467,963 people with an average household size of 2.6 individuals. Additionally, there is a notable presence of new construction homes, with 1,258 sold in 2020 and 99 currently available as of October 2021, indicating ongoing development and investment in the Miami real estate market.

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