"Miami-Dade Real Estate Market Insights July 2024: The Shift Towards Balance"
MIAMI DADE MARKET UPDATE JULY 2024
Signs of Balance!
When we look at Real Estate Market Data, we need to be mindful of the specific products and what data are we using to compare. Single Family Homes and Condos tend to behave differently.Today, I just want to show general trends; we would need to look at each micro-market to be able to assess a specific property.
Today we can appreciate that inventories are increasing compared to the last few years, but we have fewer active listings than we had 5 years ago, Pre-COVID; and properties are taking a little longer to sell.
For example, in Miami-Dade we have currently for sale 33% less units than in 2019, but compared to last year we have 41% more single-family homes and 63% more condos.
We are seeing a rapid increase in the number of older condos, most likely due to the rise in maintenance fees and assessments.
Compared to last year the median price of Single Family Homes increased in 5.9% and of Condos 1.9%.
Regarding supply and demand we can say that Single Family Homes are still showing the signs of a Seller’s Market and Condos signs of a Balanced Market. Anyhow, we don’t see a trend that the market will be crashing any time soon; and less with the recent and expected reduction of interest rates in September.
In Summary we can say:
-Inventories are increasing, but still at healthy levels
-Prices show an increase compared with last year
-The market is stabilizing to be a more balanced market
If you want to learn about a specific product, please reach ou!
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About Inés Garcia-Arcaya
More than properties — I deliver peace of mind.
Real estate decisions are complex and the stakes are high. I help buyers and sellers move forward with confidence by combining deep market knowledge, broker-level experience, and an architecture-trained eye. My role goes beyond managing a transaction. I help you understand the numbers, see what others may overlook, avoid costly mistakes, and move through the process with clarity and less stress.
Because true luxury isn't only what you buy or sell — it's how protected, informed, and at ease you feel along the way.
My background is a little different from most agents. I studied architecture in Venezuela, earned an MBA from the University of Miami, and spent years in brokerage leadership — including serving as managing broker for one of the largest real estate firms in South Florida. That combination shapes everything about how I work. I look at properties through the lens of design, function, and long-term value. I analyze pricing and strategy with a business mindset. And I bring the kind of transactional experience that only comes from having seen hundreds of deals from every angle.
I've lived in South Florida since 2000 and currently call Downtown Coral Gables home — a city I genuinely love for its walkability, architecture, and sense of community. That's not a marketing line. It means I know these neighborhoods personally, not just professionally.
Real estate involves many moving parts: pricing, timing, condition, contracts, inspections, insurance, financing, associations, negotiations. My job is to simplify all of it — without sugarcoating the hard parts. I believe in honest advice, even when it's not what someone wants to hear. I'd rather have a direct conversation early than let a client move forward on incomplete information.
If you're buying, selling, leasing, or just trying to understand the market — I'm happy to talk.
My Values
Positive Impact
My goal is to positively impact the people around me by transforming the experience of buying and selling real estate into a relationship based on education, guidance, and enjoyment.
Trust
What you see is what you get. I believe in transparent relationships, honest advice, and consistent communication throughout the process.
Congruence
I follow my heart, but most importantly, I let my clients’ needs, interests, and goals lead the relationship.
The REAL Customer Experience
I apply my knowledge and experience to simplify the complexities of the real estate process, helping my clients feel informed, confident, and supported every step of the way.
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