"The number of listings on the market remained practically unchanged from last month, but it is a bigger decrease than normal for this time of the year in Miami, and homes are also selling slower than at the same time last year. Home prices in Miami Typically, home price per square foot in Miami tend to fall in July. And the most recent data shows that the price per square foot decreased by 0.3% compared with the month before."
"In July, there were 8,051 homes for sale in Miami, which was 0.6% less than the month before and 43.2% more than the same time last year. Meanwhile, active inventory across the nation rose by 1.9% from last month to 1,102,787. The number of new listings in Miami was 1,518, which was 5.5% less than the month before and 2.7% less than the same time last year."
Median listing price in Miami in July was $633,500, a slight month-over-month decline. Price per square foot in Miami decreased 0.3% from June, while the national price per square foot fell 0.9%, indicating smaller declines in Miami. There were 8,051 homes for sale in Miami in July, down 0.6% from June but up 43.2% year-over-year. New listings in Miami totaled 1,518, falling 5.5% month-over-month and 2.7% year-over-year. Homes averaged 87 days on the market in Miami, five days longer than June and 19 days longer than July last year. Nationally, active inventory rose 1.9% and average time on market was 58 days.
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