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Updated almost 6 years ago,
Miami-Dade - Avg. Days on Market vs. Number of Sales (2016-Now)
Taking a macroscopic look at the Average Days on Market vs. the Number of Sales in Miami-Dade County from January 2016 through March 2019, we can see that as the number of sales goes up, for the most part, so too does the average DOM. There are a few exceptions to this, but the biggest takeaway in my opinion is that the downturn in number of sales from August 2018-January 2019 appears to be reversing at a quick pace. And although DOM has staggered upward during the same period it is at a much slower pace and less dramatic than the rise in number of sales. To me, this shows that buyers and investors are being more selective but market confidence is up and the market overall is reaching a healthier balance. This is backed up by a dramatic drop in Months of Inventory during the same period (since January 2019), which brings us back to January 2016 levels. What other takeaways do you all draw from this data?