Important Global Message
The Miami-Dade County Emergency Operations Center has been activated and is closely monitoring Erika. For any updates about County facilities and services, please visit: http://www.miamidade.gov/emergency
Real Estate Data
Conditions in the real estate market have a significant effect on the local economy. In addition to directly employing thousands of workers in real estate sales and finance, strength or weakness in this market affects construction activity, employment in the building trades and directly or indirectly related occupations in architecture, engineering, manufacturing, as well as others.
Real Estate Market Briefing
The Real Estate Market Briefing provides a general overview of current conditions in residential and commercial real estate. These reports include information on current trends in existing home sales, home prices, residential building permits, commercial lease and vacancy rates for office, industrial and retail space, and changes in the local inventory of commercial space.
The briefings analyze factors currently affecting the sector and the near-term economic outlook.
The Latest Report, covering the 4th quarter of 2014 reflects the following:
- Sales of existing single family homes, condominiums/townhouses continued their strong trend through 2014, up 8% and 3% year-over-year, respectively.
- Median sales prices also continued to grow with the 2014:Q4 single family median up 6% over a year earlier to $246,700 and the condo/townhouse median up 9 percent to $190,000 over 2013:Q4.
- Foreclosures in the 4th quarter of 2014 continue to put the crisis behind, down 52% over the year before.
- Vacancy rates in the office, industrial, shopping center, and standalone retail all dropped in 2014:Q4 over a year earlier.
- 1.2 million square feet of industrial space was under construction in the 4th quarter of 2014.
Miami-Dade Housing Market Report
The Housing Market Report is released at irregular intervals between the full quarterly real estate briefings and does not include commercial real estate data.
Foreclosure Trends and Patterns
According to 2013 first quarter data obtained from RealtyTrac, foreclosure filings in Miami-Dade County remain high.
There were 3.6 Real Estate Owned (REO) foreclosures per 1,000 housing units in the County. This represents a 4% increase from the first quarter of 2012.
View maps of 2013 first quarter foreclosure data, by Zip code in County commission districts.
- Commission District 1
- Commission District 2
- Commission District 3
- Commission District 4
- Commission District 5
- Commission District 6
- Commission District 7
- Commission District 8
- Commission District 9
- Commission District 10
- Commission District 11
- Commission District 12
- Commission District 13
Read more about foreclosures.Back to Top
More Housing Reports
- November 2010: Recent Trends in Foreclosure Activity and Outlook for 2011
- October 2010: Existing Home Sales and Median Sales Price
- 2009 Miami-Dade Housing Market Assessment
- 2009: Residential Foreclosures
What happened in the housing market after the frenzy that climaxed in 2006? A recent study of residential foreclosures reveals the trends in actual foreclosures and case filing across all municipalities and the County itself.
- 2008: Housing Vacancies
This was a critical time in the housing market because trends that may have otherwise been significant in their own right become magnified in their importance due to the overall market conditions in the financial industry as a result of the mortgage crisis.
- 2008: Housing Affordability
Housing affordability in Miami-Dade County is currently one of the most pressing issues for households and politicians alike. Although finding housing that is affordable for most County residents has been a challenge for many years, it has become particularly serious since the rapid rise in home values that began in 2000-2001.
Data Flash Reports
Research Notes on Economic Issues
At the request of the Board of County Commissioners, staff provided an assessment of the impacts from foreign investor participation in the local real estate market and the access to homeownership for first-time buyers.
The key findings from the analysis indicate that:
- Domestic first-time buyers are currently at a competitive disadvantage in the residential market;
- A widening gap has emerged between the volume of sales to domestic first-time homebuyers and sales to mainly foreign investors; and
- Investors’ participation in the residential market has supported the recovery of the real estate sector at a critical time for the sector and the broader economy.
- Impact of Real Estate Investors on Local Buyers
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