South Florida luxury supply grows while entry-level inventory fades

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High-end buyers in and around Miami are benefitting from a bigger scope of for-sale homes, helping keep the overall supply in a healthy range. But a closer look from EWM Realty International’s Insight Report shows South Florida luxury properties flooding the market, while those under $300,000 are in only two months supply. For reference, a healthy months supply is considered six to nine months, according to EWM. Months supply for single-family homes over $1 million in Miami-Dade is currently 23 months. For condos in the same price range, supply is 35 months. In Broward County, luxury supply for single-family homes and condos is 18 months and 25 months, respectively. “A confluence of factors are impacting the residential real estate market in South Florida,” Ron Shuffield, pr…

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