September 2019 was a strong month for residential sales in Miami, according to statistics from the Miami Association of Realtors.
Both single family homes and condo sales were up by double digits compared to the same period last year, fueled by people relocating from high-tax states, the Realtors Association said.
Total dollar volume of single family home sales in Miami-Dade county was up 19.8% compared to the prior year, while condo volume was up 14.5%. Newly constructed condos could have increased the dollar volume even more, but are not included in the report.
Overall year-to-date sales of both single family and condo sales are up compared to the previous year, but by a smaller percentage.
Inventory in Miami-Dade for both homes and condos are also lower than last year, another positive sign for the market.