It has been a very long time since the number of single-family home sales surpassed the number of condominiums sold in any one month – but it finally happened during the month of June 2020. An 18-year dominance of the number of condo sales over single-family sales in Miami-Dade County was overturned when the tally of single-family sales in June represented 57% of all sales, with condo sales representing 43% of total sales. 

After 50% decreases in sales activity in most sectors in the heart of the shutdown during March and April, signs of an emerging market in May and into June began to reveal a ‘new normal’ for home buyers. This new normal included very strong demand for single-family homes. 

In these first few weeks after the initial COVID-19 announcement, single-family homes have become the most in-demand-housing sector in South Florida. Buyers are looking for space for their home offices, enclosed outdoor spaces, exercise areas, makeshift classrooms, playrooms for kids, ‘quiet’ rooms for yoga/meditation and a burgeoning desire for ‘chef kitchens’. 

The definition of ‘home’ is arguably broader than it has ever been. The increased demand, coupled with what was already a low level of inventory in many areas, has created a seller’s market in most single-family categories, especially those in the under $1 million category. We are seeing multiple offers for homes, even sight-unseen offers. At of the printing of this report, the inventory of single-family homes valued less than $1 million in Miami-Dade County was down 28% from one year ago and Broward was down 33% for the same price point and same period. 

Market Stats Provided by Berkshire Hathaway Homeservices EWM Realty. 




Charts Provided by Berkshire Hathaway Homeservices EWM Realty. 

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