NEW MLS DATA: Greater Miami Listings Plummet by 46% YOY, Sales Jump 50%

A fresh analysis of Multiple Listing Service (MLS) data reveals that residential listings in Miami-Dade County experienced a dramatic year-over-year drop of 45.5% from January to November 2021 (compared with the same period in 2020). Meanwhile, sales surged by 49.8% year-over-year during that time.

What does this mean? Inventory in Miami-Dade is extremely scarce, and available listings are being snapped up as soon as they hit the market.

That makes Merrick Manor, the only brand-new condominium building with residences priced at under $1 million in Coral Gables, even more desirable.

The dwindling inventory and sales frenzy come at a time when residential prices continue to rise. The local market is expected to “grow even more competitive as the winter season starts” due to the easing of travel restrictions, according to a Sun Sentinel report cited by Florida Trend. Snowbirds from Canada are joining visitors from Latin America in making their return to South Florida and competing with local and domestic out-of-state buyers for limited product.

Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor also has a Zillow Walk Score of 77, making it “very walkable.”

Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.

For more information about the residences at Merrick Manor, visit the new Sales Gallery in Suite 117 on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.

For more information about the Commercial spaces at Merrick Manor please call ONE Sotheby’s Manny Chamizo III (786) 486-6655.