Active Multifamily Listings Commercial MLS Jan 2014 to Mar 2024 | Property Type Multi-Family Income, or Commercial/Industrial | Miami-Dade County | Price $5,000,000+ | Type Apartment, Income/Multifamily, or Multifamily
Multifamily properties offered for sale generally go up on one or more listings platforms, one of which is the commercial MLS. It has seemed that there has been a rash of multifamily listings in recent weeks. Conveniently, the commercial MLS allows one to checks such a perception by viewing active listings counts over time, filtered for property type. In the chart above, we’ve further filtered the results to only include properties over $5 million. As can be seen in the chart, such listings edged 50% higher in recent months than they’ve been in any month in the past 10 years.
As refinancing options have become less forgiving in today’s higher rate environment and prices have drifted, the multifamily euphoria of recent years has clearly waned. Whether this surge is only a blip of if it represents the beginning of a significant changeover of ownership remains to be seen.
It is important to note that not all multifamily properties that hit the market are listed on the commercial MLS. Trends within commercial MLS data, however, particularly when pronounced, are likely representative of what is happening in the market at large.