I break down what the latest pricing and pace mean for your next move.
If you are trying to decide whether to make a move, the answer depends on how you read the pace and pricing together. In Miami Beach, FL, I would pay close attention to the fact that a typical sale landed at $645,000 last month, while the usual sale time stretched to 80 days.
A typical sale landed at $645,000 last month. That matters because it tells me pricing is still real, but not loose enough for careless offers. Miami Beach, FL is rewarding buyers who stay disciplined and avoid chasing the headline price.
I also notice that recent offers landed at 93.6% of asking last month, which tells me negotiation room exists, but it is not wide open. My read is simple if you are buying here, you need a clear ceiling before you start touring.
I would do two things first. Set your limit before you write. Then focus on homes that already fit your budget so you do not get pulled into paying more than you planned.
