Existing condo luxury ($1 million and over) sales in Miami increased 45.4 percent year over year to 237 transactions. Miami luxury condominiums have a good inventory of 6.2 months of supply, indicating that the industry will continue to develop in the future given the high demand. Luxury single-family houses have 3.2 months of supply. Luxury months of supply continue to trend downward for all property types because of the robust demand.
