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Elliman Report: Miami Coastal Mainland Sales 3Q 2019

The total number of condo and single-family sales increased by 4.6% to 4,045 from the same period last year and was 9.3% above the 3,700 quarter average of the past five years. By property type, the pattern is choppy, but the market continues to see more activity, albeit slowly. Market-wide listing inventory fell 3.5% to 11,139 over the same period as falling mortgage rates helped drive more sales, thereby eroding inventory levels. With conventional mortgage rates falling by 100 basis points (one percent) over the past year, the market share…

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