This chart displays the sales price to listing price ratio as reported in the Miami Commercial MLS for improved commercial real estate (MLS classification: commercial/industrial) that lies within Miami-Dade, including cities within, that were priced from $1 million to $10 million and that closed from January 2011 to August 2021. This ratio edged up a touch to 95.9% from 94% in the prior month. It is in the upper end of a range for the prior ten years.
“The best investment on earth is earth.”
~Louis Glickman
One can further gauge the relative strength of the market by viewing a chart of (this month’s and going back 10 years) August 2021 commercial property sales for Miami-Dade commercial real estate. Also, to get a general idea of how much commercial property tends to trade in the area, see our post where we chart estimated turnover for Miami-Dade commercial property from 2016 to 2020.