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Time on Market in Miami Down 49%

by Peter Thomas Ricci

Market activity in Miami has quickened considerably, according to a new series of stats from Redfin.

redfin-real-time-fastest-markets-report-october-housing-recovery-time-on-market-flash-sales

Miami’s housing market had the need – the need for speed – in October, with time on market in the area falling a whopping 60 percent year-over-year in October, according to Redfin’s latest Real-Time Fastest Markets report. All told, it took 48 days on average for homes in Miami to pend, down from 95 days a year ago.

Similarly positive was the percentage of Miami listings that pended in two weeks or less. In October, 23.3 percent of listings pended in that time frame, up from 7.2 percent last year.

How does Miami compare with other markets, though? Check out our graphs below to find out:

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