In Miami’s Biscayne Point neighborhood prices rose 34.6 percent year-over-year in February, according to a new report from Redfin; sales in the neighborhoos dropped 46.2 percent. In Eastern Shores, median home price jumped 35.2 percent, compared to a 37.5 percent drop in sales.

That is the trend in Miami right now: prices up, sales down.

Among the 35 neighborhoods Redfin reported on, 27 experienced year-over-year sales declines in February, with 24 reporting double-digit drops. In 17 of the neighborhoods in which demand is seemingly falling, median sale prices were up.

Prices Up, Demand Down

Sales and prices in Miami over the past year have shared a paradoxical relationship that seems to juggle the basic laws of capitalist economics (i.e. supply and demand). But Redfin agent Aaron Drucker believes the trend is simply a matter of prudence from buyers whose view of appreciation going forward is, unequivocally, “up.”

“When buyers see a house listed at $500,000 that sold three years ago for $350,00, they wonder, ‘wow, is it really worth it?’” he said in a statement accompanying the report. “Most times, though, buyers move past the initial sticker shock and end up purchasing because they realize prices are continuing to rise and if they buy not they can lock in a low interest rate.”

But not all Miami neighborhoods are in sales decline. In Flamingo-Lummus, sales were up over 25 percent from Feb. 2015, which complemented the more sustainable 9.5 percent increase to median price.

Check out how other Miami neighborhoods fare in February below: