Miami Housing Supply Shrinks as Prices Stay Above National Average

Miami's active home listings dropped 15% year-over-year, contrasting with a 3.6% national inventory increase, favoring sellers. New listings fell 1%, matching the national trend. Median list price dipped 2% to $490,000, still 15.4% above the national median. Only 14.6% of Miami listings had price reductions, below the 20.4% national rate. Homes took 85 days to sell, longer than the 60-day national median.