The 2nd Quarter 2018 Miller-Samuel report tells us that the Miami Beach market had more overall sales activity with a lower pace of inventory growth and a shift towards larger units. There were more transactions, +10.7% from the year-ago quarter. There were more condo sales of three, four and five bedroom homes. Although listing inventory has been rising for more than four years, the rate of growth has slowed considerably in the past year (“only” + 3.9%), which is good. So we can say the market picked up a bit with absorption rate going down slightly (even though it still stands at 18.5 months). The median sales price rose 7% to $438,000 and the average sales price went up 15.8% to $1,098,024 from the prior year quarter. The considerable gain in average sales price shows the trend of sales toward larger units across the market.