In August, Miami's median home price slightly dropped to $629,000, with listings decreasing 2.6%, a larger-than-usual decline for the season. Price per square foot fell 0.6%, less than the national 1.2% drop. Inventory totaled 7,839 homes, 36.4% higher than last year. Homes took 88 days to sell, longer than the previous month and national average of 60 days.
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