This chart displays the number of closed commercial property sales in Miami-Dade county including both improved commercial properties and vacant commercial land, that were recorded in the Miami Commercial MLS for the two years ending August, 2021. August 2021 volume, as was the case with July, seems to be at a normal, non-pandemic, level.
“Don’t wait to buy real estate. Buy real estate and wait.”
~ Will Rogers
Note that this is only for sales that have been booked in the Miami Multiple Listing Service (MLS), which does not record all commercial property sales. It does, however, record many of them. This is best considered not as a measure of all commercial sales but instead to compare, apples to apples, sales booked within the commercial MLS to prior periods (again booked within) to gauge trends in Miami area commercial real estate sales activity.
One can further gauge the relative strength of the market by viewing a chart of (this month’s) August 2021 sales to list price ratio for Miami-Dade commercial real estate. To get an idea of how much commercial real estate tends to trade in the area, see our post where we chart estimated turnover for Miami-Dade commercial property from 2016 to 2020.