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BY Michael Light / On July 23, 2019

 

Douglas Elliman has just released the 2nd quarter 2019 Elliman Reports for Miami Coastal Mainland and Miami Beach & Barrier Islands. Produced in conjunction with Miller Samuel to provide you with the most comprehensive and objective market insight available, the Douglas Elliman Reports are recognized as the industry standard for providing the state of the residential real estate market, which includes an extensive suite of tools to help readers objectively identify and measure market trends, provide historical context to current information and provide comprehensive analysis of the results.

Download Douglas Elliman’s Q2 2019 Market Reports:

Douglas Elliman’s Q2 2019 Miami Coastal Mainland Market Report

Douglas Elliman’s Q2 2019 Miami Beach & Barrier Islands Market Report


Miami Coastal Mainland Q2 2019 Sales Highlights

“The market was best characterized by rising sales and prices.” 

  • The number of condo sales rose 6.7% year-over-year to 2,196 – the 5th increase in the last 6 quarters.
  • Single-family home sales rose 4.4% to 2,226 over the past year, the 3rd gain in the past 4 quarters.
  • Rising sales are an emerging trend, but prices have been growing more consistently.
  • The median sales price for condos and single-family homes on a year-over-year basis have not seen a decline for at least 22 quarters, the length of time this metric has been tracked.

DOWNLOAD: Douglas Elliman’s Q2 2019 Miami Coastal Mainland Market Report Highlights

*Please note that Miami Coastal Mainland includes AventuraBrickell, Coconut GroveCoral GablesDowntown Miami, Palmetto Bay, Pinecrest and South Miami.


Miami Beach & Barrier Islands Q2 2019 Sales Highlights

“Condo market shifted to smaller sales as listing inventory stabilized.”

  • The market share of condo sales increased for studio and 1-bedroom sales as the 2-bedroom and 3-bedroom market share slipped.
  • This shift played a role in overstating the year-over-year decline in the overall condo price trend indicators.
  • Condo median sales price decreased 7.9% to $350,000, and the average sales price fell 14.8% to $752,415 respectively from the year-ago quarter.
  • The single-family market showed the opposite pattern with 5-bedroom sales being the only category to see an expansion in market share, accounting for 40.5% of all single-family sales.

DOWNLOAD: Douglas Elliman’s Q2 2019 Miami Beach & Barrier Islands Market Report Highlights

*Please note that Miami Beach & Barrier Islands includes Bal HarbourBay Harbor IslandsFisher IslandKey BiscayneMiami Beach Islands, Mid-Beach, North Bay Village, North Beach, South BeachSunny Isles Beach and Surfside.


If you, or someone you know, are interested in purchasing real estate in Miami or Miami Beach, please contact Michael Light, Broker Associate at Douglas Elliman Real Estate and Founder/Owner of the Miami Luxury Homes Group. You may reach me directly at my office at (305) 350-9842, on my cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.

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