In this month’s chart of the sales price to listing price ratio for commercial property, though the ratio was down from the prior month, that prior month was the highest and years. The ratio is thus holding strong. This is for property sales as reported in the Miami Commercial MLS for improved commercial real estate (MLS classification: commercial/industrial) that lies within the county of Miami-Dade, including cities within, that were priced from $1 million to $10 million and that closed from January 2011 to November 2021.
To get an 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.