The Miami, Florida real estate market suffered a setback during the recession.  The market is beginning to even out and will hopefully begin recovering soon.  Be it single homes or condos, Miami real estate property prices are evening out.  The median market action index in October 2009 was 16.

The statistics of the Miami Florida real estate market can give a clear view. 

As the graph above shows, the average price of a home for sale in Miami, Florida has been decreasing over the last two years. The average price of a home for sale was about $560,000 in October 2009.  This shows an increase in the price by about 1.8% from that recorded in September 2009 and a decrease of about 10% from October 2008.

As the graph above shows, the median price of a home for sale in Miami, Florida has been decreasing over the last two years. The median price of a home for sale was about $400,000 in October 2009.  This shows an insignificant percentage change from the median price recorded in September 2009 and a decrease of about 11% from October 2008.

As the graph above shows, the average number of days a house in Miami has been on the market has been increasing over the past two years.  In October 2009, a house was on the market for 270 days on average.  This shows an insignificant percentage change when compared to the average days on market in September 2009 and an increase of 20% from October 2008.

As the graph above shows, the number of houses sold in Miami, Florida in October 2009 was 13 houses.  When compared to the number of houses sold in September 2009, there has been an insignificant percentage change in the number of houses sold.  This shows a decrease of 35% in the number of houses sold compared to October 2008.

About Bryan Halda

Bryan Halda is a realtor in Brea, California.  Find more of my writings on my ActiveRain.