A report from RE/MAX’s National Housing Report, cited in South Florida Agent Magazine revealed that Miami home sales ell 10.3% year over year to 4,386 in November’s RE/MAX National Housing Report. Month over month, however, sales were down even more with a 17.5% drop.
“The average close-to-list-price ratio was 99%, the same as October and November 2023,” South Florida Agent Magazine reported. “Miami had the lowest close-to-list-price ratio, at 94%, followed by Bozeman, Montana, at 95.6% and Houston and Tampa, which tied at 96.6%. The average days on market totaled 47, up seven days from November 2023 and five days from October. Miami, which saw days on market rise 36.9% from 52 to 71, had the greatest year-over-year increase.”
Despite Miami’s recent trends, RE/MAX President Amy Lessinger interpreted the overall national report as a positive indicator for 2025.
“Year-over-year growth across nearly all major categories signals a strong finish to 2024,” Lessinger said in a press release. “With consumer confidence rising and Millennials driving demand — many of whom are reaching key life milestones like marriage and children — 2024 looks set to outperform 2023 overall. If these trends continue, it could bode well for the 2025 housing market.”
