After a storming couple years of sales, is Miami’s housing market showing signs of a slowdown?

Miami may have garnered a well-deserved reputation for a lively, fast-moving real estate market, but there are signs that the market could be slowing down.

According to a new study by Trulia, as of April 2015, 65 percent of Miami listings are still for sale after two months on the market. That’s not only up considerably from 56 percent a year ago, but also puts Miami among the 10 slowest-moving housing markets in the country.

Here is a graph that compares Miami’s time on market with that of other metro areas:

We should be clear, Miami’s housing market is still doing quite well. In March, single-family home sales rose 10 percent year-over-year, while condo sales rose 4.2 percent, according to the Miami Association of Realtors.

At the same time, those numbers are below where the market was performing in 2013 and 2014, and appraiser valuations of Miami homes did decline markedly in the last year. Could Trulia’s data be a sign that things will slow down further in 2015? We’ll be monitoring the market closely in the coming months, to find out.