The Miami real estate market is shifting, and Kendall is right in the mix. Listing prices across Miami have dipped by 0.7%, and there’s a lot more inventory—31.9% more than last year—giving buyers a much-needed edge. Properties are sitting on the market longer, with many in Kendall taking over 50 days to sell and closing below asking price. This shift gives buyers more time to negotiate deals without the pressure of bidding wars.
Adding to the momentum, mortgage rates are now at a two-year low, boosting affordability. Buyers today have about $74,000 more purchasing power than they did last year, and if the Federal Reserve introduces further rate cuts, it could open even more doors for those looking to buy.
While high-end properties still attract competition, the broader market is becoming more favorable for buyers. If you’ve been thinking about purchasing in Kendall or nearby neighborhoods, this might be the perfect time to jump in before conditions shift again.
If you need help navigating the market, I’ve got you covered! As an Accredited Buyer’s Representative (ABR), Pricing Strategy Advisor (PSA), and Seller Specialist, I can guide you through the process to make sure you get the best deal possible. Let’s explore your options and find the perfect property for you!