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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 1st quarter of 2016 reflects the following:

  • Sales of existing homes slowed in 2016:Q1, with single-family home sales down 6.8%, and condominiums/townhome sales down 11.2% from 2015:Q1.
  • However, median sales prices continued to grow with the 2016:Q1 single family median up 10% over a year earlier to $275,000 and the condo/townhouse median up 5.1% to $206,450 over 2015:Q1.
  • The home-ownership affordability index continued to fall indicating buying a home is continuing to become less affordable to a growing segment of the County’s residents. It was down 12.3% over a year earlier in 2016:Q1.
  • Vacancy rates in the office, industrial, shopping center and stand-alone retail all dropped in 2016:Q1 over a year earlier. Lease rates increased in all categories of commercial space with the exception of shopping center retail.
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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.

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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.

Read more about foreclosures.

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More Housing Reports

At-a-Glance Reports

  • 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:

  1. Domestic first-time buyers are currently at a competitive disadvantage in the residential market;
  2. A widening gap has emerged between the volume of sales to domestic first-time homebuyers and sales to mainly foreign investors; and
  3. 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. 
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Page Last Edited: Mon Nov 7, 2016 9:01:19 AM
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