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Elliman Report: Miami Beach + Barrier Islands Sales 3Q 2018

As was observed in the prior quarter, the Miami Beach housing market continued to show rising price trends, modest inventory growth and a surge in sales. There were 808 overall market sales, up 50.7% more than the year-ago quarter. Listing inventory edged 3.3% higher to 6,089 listings. The absorption rate, the number of months to sell all inventory at the current rate of sales accelerated sharply, falling 31.5% to 22.6 months from the year-ago quarter. Days on market, the number of days from the…

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