Miami Homebuyers Enjoy More Choices as Listings Shift

The median home price in the Miami metro area fell 2.9% year-over-year to $495,000 in July, with a 1% drop in price per square foot. Inventory declined sharply by 16.9%, and new listings decreased 2.9%. The median days on market also dropped by four days. Nationally, the median list price was $428,950, down 2.4% from the previous year.