At the same time, the median price of a new home sold in April declined as well. 

At the same time, the median prices for single-family homes and condominiums also gained ground. 

The city saw a 31.2% annual jump in new listings in April and a 54% surge in months’ supply, according to the latest RE/MAX National Housing Report. 

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Home sales in Miami-Dade, Broward and Palm Beach counties declined as inventory increased.

Sales rose 9.5% from January to a seasonally adjusted annual rate of 4.38 million.

The median existing-home price for all housing types was $379,100, up 5.1% from $360,800 a year before.       

Single-family home sales prices increased in 189 out of 221 metro areas analyzed, with the median single-family price in the country rising 3.5% year over year to $391,700.

Days on market declined in Miami-Dade, Broward and Palm Beach counties.

Pending home sales rose 8.3% month over month, the National Association of REALTORS® said, marking the largest monthly jump since 2020. 

Declining interest rates spurred the increase. 

In Miami, the number of coworking spaces rose quarter over quarter in Q4 2023, while the city’s total square footage of coworking space rose too.

At the same time, the median sales price rose 4.4% to $382,600. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row. 

CoreLogic expects prices to continue to grow through the year.

RentCafe analyzed apartment sizes in ZIP codes across the country to determine which areas give the typical renter the most bang for their buck.