Clients looking to buy a home in Miami? New study shows they’re in luck
Good news for your buyers: A new report by realtor.com found that cities in the Sunshine State are among the easiest in the country to find a home in terms of available inventory.
Realtor.com analyzed the density of listings in each market relative to available housing stock and compared that to active listings in the market per 1,000 households.
Fort Myers was identified as the easiest market in the nation in which to buy with almost 38 listings per 1,000 households. The active listings recorded in January were down 22 percent in Fort Myers from a year prior. The median listing price in that city was up 8 percent from January 2019 to $325,045.
The Miami/Fort Lauderdale area made second place with 31.8 listings per 1,000 households. That’s down 11 percent from the previous year, according to realtor.com. The median listing price there was up 5 percent from the previous year to $413,050.
Finally, Deltona-Daytona Beach-Ormond Beach made third place with 30.9 listings for every 1,000 households. This marked a 13 percent decline from January 2019. The median listing price remained flat from the previous year at $288,300.
That’s compared to the national average of 16 listings per 1,000 homes, according to the report.
Realtor.com Chief Economist Danielle Hale said in a press release that the ease of finding a home doesn’t necessarily mean the market is struggling. “Buyers searching in easier markets generally benefit from a combination of strong availability of homes for-sale and, with some exceptions, healthy, yet more moderate price growth,” she said.