single family home sales continue upward for the fourth consecutive month-showing a sales ratio of 19% vs 18% the prior month. i would remind that these sales numbers are always looking back so we should already be in a sellers market for many neighborhoods.
sellers market classified as 20.5% sales ratio or higher.
condominium sales are level for the second month in a row-not dipping down-not increasing-but holding steady, maintaining a 5% sales ratio-BUYERS MARKET BUYERS MARKET.
if the northeastern migration to south florida continues as it has, this extra inventory should get consumed quickly. i am finding this 5% sales ratio buyers market much more appropriate for the mainland side of miami than it is for miami beach. miami beach condo inventory is feeling more like a balanced market.