The chart above displays the trailing two years ending December 2020 of closed sales of Miami-Dade commercial properties, including improved commercial property and vacant commercial land, recorded in the Miami MLS. After a bit of a pullback in November, sales rebounded to closed out the year fairly strong, registering the sixth strongest month of the prior 24. This is for sales booked in the Miami Multiple Listing Service (MLS), which does not record all commercial property sales and thus can’t be said to be fully or perfectly represent the asset class (as not all commercial sales are booked here). Nevertheless, it does record sales, and given that it is representative of commercial property sales that have also been so recorded in a prior period versus the current one, it should be reasonably, though not perfectly, reliable for gauging change.