In December the sales price to listing price ratio for commercial property dropped off a touch to a solid middle-of-the-pack 92.3%, with “the pack” being this number in the decade prior. This is for property sales as reported in the Miami Commercial MLS for improved commercial real estate (MLS classification: commercial/industrial) that lies within the county of Miami-Dade, including cities within, that were priced from $1 million to $10 million and that closed in the ten year period from January 2012 to December 2021.
To get an idea of how much commercial property tends to trade in the area, see our post where we chart estimated turnover for Miami-Dade commercial property from 2016 to 2020.