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 September 2021. This ratio dropped to 91.1% from 95% in the prior month. It is in now smack in middle of a visible range end of a range for the past several years.
“There is no one so wise as the man with the unrealized gain.”
~James Hawkins
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.