Miami Real Estate Market Update: June 2024 Insights with Schenley Park Expert

Join Berenice, your Schenley Park Real Estate market expert, as she presents the latest real estate market data for May 2024 in Miami. In this insightful video, Berenice shares crucial updates on sales, inventory, and prices, and explains what these trends mean for buyers and sellers planning to transact in the next 6 to 18 months. Key topics include a significant 15% drop in sales, a 50% increase in inventory levels, and an average of 16 days on market for properties. Berenice also discusses the substantial rise in the months of supply from 3 to 4 months and the stability of new listings and median prices.
For sellers, this video highlights the implications of rising inventories and how it could lead to increased competition and potentially longer times on the market. For buyers, Berenice emphasizes the advantages of growing inventories, longer days on market, and the impact of interest rates in the sixes, suggesting that now may be a wise time to invest in homeownership.
Berenice also compares the Schenley Park neighborhood's data to the broader Miami Dade area, noting that Schenley Park is performing better with less drastic changes in sales and inventory levels. This comparison is crucial for strategizing your next move, whether buying or selling, ensuring you make informed decisions based on local market conditions, property type, and price range.
Don't miss out on this comprehensive analysis of the Miami real estate market in June 2024. Subscribe for monthly updates and reach out for a strategic planning session to tailor your real estate strategy to your specific needs.