The sales to list price ratio as reported by the Miami MLS for improved commercial property in Miami-Dade County from $1 million to $10 million dipped in September. September’s recorded ratio of 86.3% is the lowest level recorded since February 2015’s 84.9% number. This follows a dip two months prior that, though a slightly better number was itself then the lowest ratio since February 2015.
Though these three months may mean little to nothing, it is reasonable to assume there is a COVID effect on this ratio, with the sales to list prior ratio seeming to now be hanging in the high 80 percent rate versus low 90s prior, thus about 5% lower. Nonetheless, this ratio remains in the middle of where it has been in the past decade, as can be seen in the chart.