Major Price Improvement | 4-Bed/4.5-Bath Waterfront Condo at Elysee with Sweeping Views Posted on March 21, 2024 by Michael Light Major price improvement on an amazing opportunity for an exquisite condo at Elysee featuring panoramic ocean and Miami Beach skyline views! Offered at $5,275,000, Unit 4602 at Elysee features a private elevator and foyer that leads you into this bespoke flow-through unit offering nearly 4,000 sf of indoor living that seamlessly connects a private sunrise terrace to the east and an expansive sunset terrace to the west. The sunrise terrace features sweeping water views, while the sunset terrace offers a beautiful view of the vibrant Miami Beach skyline. This luxury condo boasts 4 bedrooms, 4.5 bathrooms, a great room, family room, library, staff’s lounge and a Chef’s eat-in kitchen by ItalKraft featuring gas cooking (rare in a condo building in Miami) and Wolf/Sub-Zero appliances. This unit also showcases hardwood flooring throughout, 10-foot ceilings and dramatic floor-to-ceiling windows to highlight the water views…sheer sophistication with a modern flair. Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater Miami Rising 57 stories above Biscayne Bay in the Edgewater neighborhood of Miami, Elysee consists of only 94 (1/2 floor & full floor) bespoke condo residences with a splash of French-inspired modern design by renowned Jean-Louis Deniot. The ultra-luxe building offers its residents exclusive unparalleled amenities located on three full floors. The lobby level boasts a grand marble lobby and entrance and a bayfront sunrise swimming pool. The 7th floor offers a resort-style 75-foot lap pool, outdoor summer kitchen and barbecue terrace, high-tech fitness center, private yoga studio, his and her spa with private massage rooms, sauna and steam rooms, blow dry hair bar & hair bowl and kid’s play room. The 30th floor amenities include a great room with grand piano and stunning panoramic views of Biscayne Bay, Atlantic Ocean and the Miami Beach skyline, elegant dining room with wine coolers, library that converts to a private theater, social lounge bar, chef’s catering kitchen with indoor and outdoor seating, business center and game room. If you are interested in a private viewing of Elysee Unit 4602, please contact listing broker, Michael Light, Executive Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at 786.566.1700 or michael@miamiluxuryhomes.com.
2024 Coconut Grove Real Estate Values | Year-Over-Year Numbers Posted on March 7, 2024March 7, 2024 by Michael Light I am pleased to share with you my annual Coconut Grove statistics report highlighting that, yet again, Coconut Grove has outpaced a cooling national real estate market by setting new, all-time records across multiple categories! Herein, I have compiled and analyzed the 2023 statistics, per MLS data, by hand-calculating the stats to ensure they are accurate for our readers. This information allows you to see for yourself the market trends in our community. I would also like to note the reason I have been so passionate and adamant about publishing the Coconut Grove sales analytics annually for the past 10 years is that I am a Groveite through and through. I truly care about the health of our community and helping my neighbors, and future neighbors, fully understand where the Grove housing market has been and the direction it is headed. Further, the Grove holds a dear place in my heart for an array of reasons…I met my wife in the Grove 15 years ago, we got married at St. Hugh with our reception held at the historic Villa Woodbine, I am currently the Executive Director of luxury Sales at Douglas Elliman Real Estate in our Two CocoWalk office, my wife and I have lived in Coconut Grove together for 13 years and are raising our daughter and 2 rescue dogs in our home in North Grove. The overall market in South Florida exploded in 2021 and continued in 2022 due to an enormous influx of buyers from New York, Chicago and L.A. because of our favorable tax rates, Covid and “the way that Florida is being run” – (that last one being the most popular answer when asking buyers “why Florida?”). Then, in 2023, our neighborhood shattered all previous years. Many people believed we had truly hit the “top” of the market in 2022 and it would be impossible to continue…well, those people were wrong. The Coconut Grove real estate market had increased year-over-year for 9 consecutive years until it exploded during the Covid bounce of 2020-2022…and then topped those numbers in 2023 by most metrics. Here are some takeaways from the 2023 numbers: Number of sales dropped 22.6% over last year, but total sales volume in ALL of the Grove went up slightly to $858,164,400; because… The average sales price in ALL of the Grove set another new, all-time high at $2,364,089, a 30% jump over 2022 and a whopping jump of 144.2% from $968,237 in 2019 (pre-Covid). The average sales price per square foot in ALL of the Grove also set another new, all-time high at $929.79, a 14.3% jump over 2022 and a ridiculous 115.3% jump over the pre-Covid 2019 high of $431.92. South Grove was the first neighborhood to EVER have both the average ($1,195.04) and median ($1,130.42) price per sq/ft over $1,100 in 2023! The average sale price in NORTH Grove jumped 37.8% year-over-year, one of the highest jumps ever recorded. Coconut Grove Real Estate – Months of Supply (February 2024) Months of supply means how long it would take for the market to absorb all real estate, if no additional real estate came to market. This stat determines whether it is a Buyer’s Market or Seller’s Market. When looking at statistics, having a 6-month supply or less favors sellers while more than 6 months favors buyers. Any supply that is 6-9 months is considered a stable market. Single-Family Homes: 8.5-Month Supply (Buyer’s Market) 92 Currently Available 65 Sold in Past 6 Months Condos: 8.9-Month Supply (Buyer’s Market) 104 Currently Available 70 Sold in Past 6 Months Townhomes: 6.5-Month Supply (Balanced Market) 24 Currently Available 22 Sold in Past 6 Months Below, I have laid out all of the 2023 Coconut Grove real estate statistics and then a year-over-year comparison of 2023 versus 2022. 2023 Coconut Grove Real Estate Sales by the Numbers: Total Number of Sales: 363 Total Sales Volume: $858,164,400 Average List Price: $2,567,773 Median List Price: $1,649,900 Average Sales Price: $2,364,089 (92.1% of List Price) Median Sales Price: $1,530,000 (92.7% of List Price) Average Sales Price Per SQ/FT: $929.79 Median Sales Price Per SQ/FT: $810.81 Days on Market: 71 Average / 36 Median Highest Priced Sale of 2023: Grove at Grand Bay LPH-S Closed on 08/31/2023 @ $19,250,000 ($2,023.55 per sq/ft) Lowest Priced Sale of 2023: 3245 Virginia St. #18 Closed on 06/26/2023 @ $255,000 ($496.11 per sq/ft) Download: 2023 ALL Coconut Grove Real Estate Sales Data 2023 vs. 2022 ALL Coconut Grove Sales Year-Over-Year Numbers: Total Number of Sales: DOWN 106 (-22.6%) | 363 in 2023 vs. 469 in 2022 (800 in 2021) Total Sales Volume: UP $2,393,354 (+0.3%) | $858,164,400 in 2023 vs. $855,771,046 in 2022 ($1,452,047,154 in 2021) Average List Price: UP $670,891 (+35.4%) | $2,567,773 in 2023 vs. $1,896,882 in 2022 ($1,913,996 in 2021) Median List Price: UP $250,900 (+17.9%) | $1,649,900 in 2023 vs. $1,399,000 in 2022 ($1,172,500 in 2021) Average Sales Price: UP $539,417 (+30.0%) | $2,364,089 in 2023 vs. $1,824,672 in 2022 ($1,815,059 in 2021) Median Sales Price: UP $180,000 (+22.7%) | $1,530,000 in 2023 vs. $1,350,000 in 2022 ($1,100,000 in 2021) Average Sales Price Per SQ/FT: UP $176.65 (+14.3%) | $929.79 in 2023 vs. $813.28 in 2022 ($636.63 in 2021) Median Sales Price Per SQ/FT: UP $155.80 (+14.5%) | $810.81 in 2023 vs. $708.44 in 2022 ($552.64 in 2021) Coconut Grove Neighborhoods Map To local Groveites looking to sell, and buyers purchasing property in Coconut Grove, I have broken down the statistics of the different areas of the Grove. Coconut Grove is locally referred to in parts, i.e. North, South, Center and West (for example, CocoWalk and Mr. C Hotel are both located in Center Grove and Kennedy Park is located in North Grove). 2023 vs. 2022 NORTH Coconut Grove Sales by the Numbers: Total Number of Sales: 125 in 2023 | 155 in 2022 (281 in 2021) Average List Price: $3,438,991 in 2023 | $2,368,218 in 2022 ($2,080,521 in 2021) Median List Price: $2,300,000 in 2023 | $1,975,000 in 2022 ($1,349,000 in 2021) Average Sales Price: (+37.8%) $3,109,000 in 2023 | $2,255,965 in 2022 ($1,954,750 in 2021) Median Sales Price: (+14.6%) $2,100,000 in 2023 | $1,833,000 in 2022 ($1,300,000 in 2021) Average Sales Price Per SQ/FT: (+14.6%) $996.95 in 2023 | $869.96 in 2022 ($649.80 in 2021) Median Sales Price Per SQ/FT: (+6.4%) $863.42 in 2023 | $811.79 in 2022 ($596.97 in 2021) Days on Market: 90 Average | 54 Median in 2023 (50 Average | 30 Median in 2022) Highest Priced Sale of 2023: Grove at Grand Bay LPH-S Closed on 08/31/2023 @ $19,250,000 ($2,023.55 per sq/ft) Lowest Priced Sale of 2023: 2539 S. Bayshore Dr. #228E Closed on 10/18/2023 @ $265,000 ($815.38 per sq/ft) 2023 vs. 2022 SOUTH Coconut Grove Sales by the Numbers: Total Number of Sales: 31 in 2023 | 40 in 2022 (112 in 2021) Average List Price: $5,042,430 in 2023 | $4,239,297 in 2022 ($3,792,882 in 2021) Median List Price: $3,175,000 in 2023 | $3,172,500 in 2022 ($2,287,450 in 2021) Average Sales Price: (+8.4%) $4,409,871 in 2023 | $4,069,500 in 2022 ($3,602,096 in 2021) Median Sales Price: (+3.8%) $3,010,000 in 2023 | $2,900,000 in 2022 ($2,286,060 in 2021) Average Sales Price Per SQ/FT: (+14.6%) $1,195.04 in 2023 | $1,042.48 in 2022 ($764.06 in 2021) Median Sales Price Per SQ/FT: (+16.1%) $1,130.42 in 2023 | $973.45 in 2022 ($671.69 in 2021) Days on Market: 126 Average | 99 Median in 2023 (40 Average | 21 Median in 2022) Highest Priced Sale of 2023: 3323 Poinciana Ave. Closed on 10/19/2023 @ $18,000,000 (LAND SALE) Lowest Priced Sale of 2023: 4145 Bonita Ave. Closed on 04/10/2023 @ $1,120,000 ($1,258.43) 2023 vs. 2022 CENTER Coconut Grove Sales by the Numbers: Total Number of Sales: 157 in 2023 | 201 in 2022 (289 in 2021) Average List Price: $1,546,931 in 2023 | $1,209,295 in 2022 ($1,239,859 in 2021) Median List Price: $1,079,500 in 2023 | $850,000 in 2022 ($729,000 in 2021) Average Sales Price: (+25.9%) $1,477,797 in 2023 | $1,173,432 in 2022 ($1,184,823 in 2021) Median Sales Price: (+28.6%) $1,050,000 in 2023 | $816,563 in 2022 ($700,000 in 2021) Average Sales Price Per SQ/FT: (+18.2%) $884.52 in 2023 | $748.28 in 2022 ($614.85 in 2021) Median Sales Price Per SQ/FT: (+21.8%) $767.86 in 2023 | $630.58 in 2022 ($499.68 in 2021) Days on Market: 49 Average | 20 Median in 2023 (48 Average | 18 Median in 2022) Highest Priced Sale of 2023: Two Park Grove #UPH-A Closed on 07/13/2023 @ $17,500,000 ($2,526.35 per sq/ft) Lowest Priced Sale of 2023: 3245 Virginia St. #18 Closed on 06/26/2023 @ $255,000 ($496.11 per sq/ft) 2023 vs. 2022 WEST Coconut Grove Sales by the Numbers: Total Number of Sales: 49 in 2023 | 75 in 2022 (119 in 2021) Average List Price: $2,160,277 in 2023 | $1,630,657 in 2022 ($1,384,312 in 2021) Median List Price: $1,499,000 in 2023 | $1,237,562 in 2022 ($1,200,000 in 2021) Average Sales Price: (+30.1%) $2,049,373 in 2023 | $1,575,181 in 2022 ($1,329,108 in 2021) Median Sales Price: (+12.2%) $1,375,000 in 2023 | $1,225,000 in 2022 ($1,140,000 in 2021) Average Sales Price Per SQ/FT: (+6.6%) $784.52 in 2023 | $736.28 in 2022 ($540.77 in 2021) Median Sales Price Per SQ/FT: (-0.4%) $684.37 in 2023 | $686.81 in 2022 ($494.14 in 2021) Days on Market: 58 Average | 40 Median in 2023 (50 Average | 31 Median in 2022) Highest Priced Sale of 2023: 3258 Bird Ave. Closed on 06/30/2023 @ $16,000,000 (BULK SALE – 8 TOWNHOMES) Lowest Priced Sale of 2023: 3741 Thomas Ave. Closed on 10/30/2023 @ $575,000 ($735.29 per sq/ft) If you, or someone you know, would like to purchase or sell real estate in Coconut Grove, please contact me, Michael Light, Founder/Owner of the Light Group at Douglas Elliman Real Estate. I am a resident of Coconut Grove and have direct knowledge of the Coconut Grove real estate market. You may reach me directly at my CocoWalk office at 786-566-1700 or via email at michael@miamiluxuryhomes.com. Looking for past Coconut Grove market statistic articles? Here they are: 2022 Coconut Grove Market Report 2021 Coconut Grove Market Report 2020 Coconut Grove Market Report 2019 Coconut Grove Market Report 2018 Coconut Grove Market Report 2017 Coconut Grove Market Report 2016 Coconut Grove Market Report 2015 Coconut Grove Market Report 2014 Coconut Grove Market Report Disclaimer: The statistics referenced herein were retrieved from the Multiple Listing Service (MLS) on February 28, 2024. Any closed sales not listed in the MLS are not included in the statistics referenced herein. The MLS search criteria used was 33133 zip code + map outline + city not equal to “Coral Gables.” The statistics separated into North, South, Center and West Grove were separated according to the map shown above and may not be accurate. In addition, the information contained herein is for informative purposes only and should not be relied upon.
Four Seasons Residences in Coconut Grove | Floor Plans, Pricing & Details Posted on February 25, 2024February 25, 2024 by Michael Light As we reported last week, the Four Seasons Residences in Coconut Grove is launching sales…finally. Much speculation has been swirling about height of the building, number of units, size/layouts of each unit and, most importantly, price point. Well, I have laid out most of those details, below. ***Please contact me directly for pricing & floor plans*** Four Seasons Coconut Grove Residences Building Features Total of 72 private residences – 68 residences & 4 penthouses 22 stories tall 4 residences per floor 3+ bedroom floor plans, ALL with water views 2,895 – 3,974 square footage range (excluding penthouses) Private secured elevators and foyers in all residences 10.5′ minimum ceiling heights in all residences Developed by Ugo Colombo & Fort Partners All owners will receive a membership to the Surf Club Four Seasons Beach Club in Surfside, Florida NO hotel component Four Seasons Coconut Grove Residences Amenities Signature Restaurant offering in-residence dining Serviced pool deck Premier pool and yoga Spa with jacuzzi, hammam, cold plunge, aquatherapy, sensory showers and lounge area Serviced lounge and bar Kids’ area Party room Bicycle storage Four Seasons Coconut Grove Residences Property Services Appointed Director of Residences Residential Concierge Doorman and Bellman services 24/7 Security 24/7 Valet 24/7 On-call emergency service/repair Dedicated private arrival and valet entry Although no hotel component, this development will still offer its residents the luxury lifestyle experience that Four Seasons is so globally known for Four Seasons Coconut Grove Residences A La Cart Services In-residence Dining In-residence spa services In-residence laundry and valet services Grocery Provisioning Housekeeping services Butler services Wellness programs and personal trainers Dog grooming Private catering Car wash If you want to be one of the few VIP’s to have an opportunity to own an iconic piece of the Coconut Grove skyline, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Four Seasons Residences in Coconut Grove – Building Rendering Four Seasons Residences in Coconut Grove – Lobby Rendering Four Seasons Residences in Coconut Grove – Library Rendering Four Seasons Residences in Coconut Grove – Primary Bathroom Rendering
Four Seasons Residences in Coconut Grove to Launch Sales Next Week Posted on February 20, 2024February 25, 2024 by Michael Light UPDATE 02/25/2024: Pricing and floor plans have been released – Click Here for Details The rumors that you all have been asking about are true…the Four Seasons Private Residences in Coconut Grove is finally going to launch sales next week! The tower will stand 22 stories and include approximately 70 residences with NO HOTEL COMPONENT. The Four Seasons Coconut Grove will be developed by a collaboration of Ugo Columbo, who is also developing Vita at Grove Isle in Coconut Grove, and Fort Partners, the same group that brought us The Surf Club Four Seasons, in Surfside, Florida. If you want to be one of the few VIP’s to have an opportunity to own an iconic piece of the Coconut Grove skyline, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Site of Four Seasons Residences in Coconut Grove
JUST LISTED | 4-Bed/4.5-Bath Waterfront Condo at Elysee with Sweeping Views Posted on February 10, 2024February 13, 2024 by Michael Light Michael and Jaimee Light are excited to showcase their newest waterfront listing, an exquisite condo at Elysee ideally situated along Biscayne Bay in the Edgewater neighborhood of Miami offering sheer sophistication with a modern flair. A private elevator and foyer lead you into this bespoke flow-through unit offering nearly 4,000 sf of indoor living that seamlessly connects a private sunrise terrace to the east and an expansive sunset terrace to the west. The sunrise terrace features sweeping water views, while the sunset terrace offers a beautiful view of the vibrant Miami skyline. Elysee Edgewater Miami Unit 4602 Unit 4602 at Elysee offers 4 bedrooms, 4.5 bathrooms, a great room, family room, library, staff’s lounge and a Chef’s eat-in kitchen by ItalKraft boasting gas cooking (rare in a condo building in Miami) and Wolf/Sub-Zero appliances. This unit also boasts hardwood flooring throughout, 10-foot ceilings and dramatic floor-to-ceiling windows to highlight the water views. Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater Miami Rising 57 stories above Biscayne Bay, Elysee consists of only 94 (1/2 floor & full floor) bespoke condo residences with a splash of French-inspired modern design by renowned Jean-Louise Deniot. The ultra-luxe building offers its residents exclusive unparalleled amenities located on three full floors. The lobby level boasts a grand marble lobby and entrance and a bayfront sunrise swimming pool. The 7th floor offers a resort-style 75-foot lap pool, outdoor summer kitchen and barbecue terrace, high-tech fitness center, private yoga studio, his and her spa with private massage rooms, sauna and steam rooms, blow dry hair bar & hair bowl and kid’s play room. The 30th floor amenities include a great room with grand piano and stunning panoramic views of Biscayne Bay, Atlantic Ocean and the Miami Beach skyline, elegant dining room with wine coolers, library that converts to a private theater, social lounge bar, chef’s catering kitchen with indoor and outdoor seating, business center and game room. If you are interested in a private viewing of Elysee Unit 4602, please contact listing broker, Michael Light, Executive Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at 786.566.1700 or michael@miamiluxuryhomes.com.
Cara King | The Light Group at Douglas Elliman Welcomes Seasoned Real Estate Advisor Posted on February 8, 2024 by Michael Light Michael and Jaimee Light of The Light Group at Douglas Elliman are pleased to announce the expansion of their team in the South Florida real estate market adding seasoned real estate advisor, Cara King. Cara King is a consummate professional with 20 years of residential experience as a trusted real estate advisor and interior designer. Her sophisticated style, attention to detail and integrity is what sets Cara apart from others in the industry. With a focus on high-end properties, Cara has successfully represented clients in the sales and acquisitions of some of the most prestigious estates in the Midwest. Growing up in Kentucky, Cara built an extensive network that she leveraged to connect exclusive properties to the perfect buyer. Her clientele appreciated her discreet yet prompt attention that often led to successful off-market transactions, while also keeping them informed of private offerings. Following the graduation of her two children from college, she embraced a new chapter, seeking a fresh challenge by utilizing her extensive connections in the Miami area. Here, she infuses her Midwestern work ethic, strong negotiation skills and wealth of design expertise to offer a unique perspective to the dynamic South Florida market. What sets Cara apart from other real estate professionals is that she focuses on providing her clients, in both Florida and Kentucky markets, with a bespoke experience, elevating the standard of luxury living. Beyond the world of real estate, you will likely find Cara on the pickleball courts or spending time with her children, who inspire her daily to create not just dream homes but a dream life. If you are interested in connecting with Cara, you may reach her directly on her cell at 502.418.2882 or via email at cara@miamiluxuryhomes.com.
JUST LISTED | Oceanfront 3-Bed, 3.5-Bath Condo Offered at $2.795M Posted on February 2, 2024 by Michael Light We are happy to announce our newest oceanfront listing, residence 3604 at Trump Palace in Sunny Isles Beach offered at $2,795,000. Unit 3604 at Trump Palace in Sunny Isles Beach is beautiful beachfront flow-through unit featuring two separate balconies boasting panoramic ocean views to the southeast and direct intracoastal views to the northwest. A private elevator leads you into 2,167 square feet of interior living with marble flooring throughout, 3 bedrooms, 3 ensuite bathrooms, spacious living room, dining room, eat-in kitchen with Gaggenau/Sub-Zero/Bosch appliances, powder room and laundry room. The Primary Suite features sweeping ocean views, direct access to the beachfront balcony, large walk-in closet and primary bathroom with an oversized soaking tub, glass-enclosed shower, dual sink vanity and seated makeup area. Residents enjoy exclusive access to Trump Palace amenities and full access to amenities at Trump Royale and International including 1,000 feet of beach front with food, beverage and towel services, lagoon-style pool, two lap pools, two-story health spa and fitness center, kid’s room, tennis court and more! If you, or someone you know, are interested in a private viewing of Trump Palace Unit 3604, please contact listing broker, Michael Light, Executive Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at 786.566.1700 or via email at michael@miamiluxuryhomes.com. Trump PalaceTrump Palace Pool and BeachSoutheast Ocean Views from BalconyLiving Room to BalconyLiving RoomPrimary Bedroom Ocean Views and Access to BalconyPrimary Bedroom ViewsPrimary BedroomPrimary BathPrimary BathroomDining RoomKitchenKitchen ViewTrump Palace Unit 3604 Floor Plan
Douglas Elliman’s Q4 2023 Miami Mainland, Coral Gables & Miami Beach Market Reports Posted on January 27, 2024 by Michael Light Douglas Elliman has released the 4th quarter 2023 Elliman Reports for Miami Coastal Mainland, Coral Gables 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 Q4 2023 Market Reports: Douglas Elliman’s Q4 2023 Miami Coastal Mainland Market Report Douglas Elliman’s Q4 2023 Coral Gables Market Report Douglas Elliman’s Q4 2023 Miami Beach & Barrier Islands Market Report Miami Coastal Mainland Q4 2023 Sales Overall Highlights “Price trend indicators pressed higher across the market.” +10% Median Sales Price – Median sales price remained at a record high for the 3rd time. -9% Closed Sales – Sales declined annually for the 7th straight quarter. +9.1% Total Inventory – Listing inventory rose year over year for the 5th time in 6 quarters. Aventura All price trend indicators showed mixed year-over-year results. Listing inventory increased annually for the 5th time. Brickell Median sales price increased year over year. Listing inventory increased annually for the 2nd time. Coconut Grove Condo price trend indicators surged annually. Condo listing inventory increased annually for the 1st time in 3 quarters. Single family price trend indicators showed mixed annual results. Single family listing inventory increased annually for the 2nd time in 3 quarters. Downtown Miami Condo price trend indicators increased annually. Condo listing inventory increased annually for the 5th time. Single family price trend indicators reached record highs. Single family listing inventory declined annually for the 3rd time. Palmetto Bay Price trend indicators increased annually. Listing inventory declined annually for the 3rd time. Pinecrest Price trend indicators showed mixed annual results. Listing inventory declined annually for the 2nd time. South Miami Price trend indicators surged year over year. Listing inventory declined annually for the 3rd time. DOWNLOAD: Douglas Elliman’s Q4 2023 Miami Coastal Mainland Market Report Highlights *Please note that Miami Coastal Mainland includes Aventura, Brickell, Coconut Grove, Downtown Miami, Palmetto Bay, Pinecrest and South Miami. Coral Gables Q4 2023 Sales Overall Highlights “Listing inventory expanded across most submarkets but remained sharply below pre-pandemic levels.” Coral Gables Single Family Year Over Year +26.6% Median Sales Price +1.6% Closed Sales -18.1% Total Inventory +3 Days of Marketing Time Single family listing inventory fell annually for the 2nd time in 6 quarters. Coral Gables Condos Year Over Year +12% Median Sales Price +12.2% Closed Sales +73.3% Total Inventory -3 Days of Marketing Time Condo median sales rose for the 2nd time in 3 quarters. DOWNLOAD: Douglas Elliman’s Q4 2023 Coral Gables Market Report Highlights *Please note that this only includes the City of Coral Gables. Miami Beach & Barrier Islands Q4 2023 Sales Overall Highlights “While listing inventory increased, it remains far below pre-pandemic levels.” +13% Median Sales Price – All price trend indicators increased collectively year over year for the 2nd time. +3 Months of Supply -12.5% Closed Sales – Sales declined annually for the 7th straight quarter +12.6% Total Inventory – Listing inventory rose year over year for the 5th consecutive quarter. +15 Days of Marketing Time 6.7% Discount Off List Price Sunny Isles Beach Median sales price increased year over year for the 5th time. Listing inventory rose annually for the 5th straight quarter. Bal Harbour Median sales price increased year over year for the 6th time in 7 quarters. Listing inventory rose annually for the 4th straight quarter. Bay Harbor Islands All price trend indicators surged year over year. Listing inventory rose annually for the 5th straight quarter. Surfside Condo sales increased year over year for the 1st time in 5 quarters. Condo listing inventory rose year over year for the 5th straight quarter. Single family median sales price increased year over year for the 1st time in 3 quarters. Single family listing inventory was unchanged year over year. North Bay Village Median sales price increased year over year for the 1st time in 3 quarters. Listing inventory declined annually for the 1st time in 5 quarters. Miami Beach Islands Median sales price increased year over year for the 5th time. Listing inventory rose annually for the 5th straight quarter. North Beach Median sales price increased year over year for the 4th time. Listing inventory rose annually for the 4th straight quarter. Mid-Beach Median sales price increased year over year for the 4th time. Listing inventory rose annually for the 4th straight quarter. South Beach Median sales price increased year over year for the 2nd time. Listing inventory rose annually for the 3rd time in 4 quarters. Key Biscayne Condo sales increased year over year for the 1st time in 8 quarters. Condo listing inventory increased annually for the 1st time in 8 quarters. Single family price trend indicators increased year over year. Single family sales stabilized annually for the 1st time in 9 quarters. Fisher Island Price trend indicators declined year over year. Listing inventory expanded year over year for the 2nd time. DOWNLOAD: Douglas Elliman’s Q4 2023 Miami Beach & Barrier Islands Market Report Highlights *Please note that Miami Beach & Barrier Islands includes Bal Harbour, Bay Harbor Islands, Fisher Island, Key Biscayne, Miami Beach Islands, Mid-Beach, North Bay Village, North Beach, South Beach, Sunny Isles Beach and Surfside. If you, or someone you know, are interested in purchasing and/or selling real estate in Miami, Coral Gables or Miami Beach or simply would like to learn more about the real estate market in South Florida, please contact Michael Light, Broker Associate and Executive Director of Luxury Sales at Douglas Elliman Real Estate as well as Founder/Owner of The Light Group. You may reach Michael directly at his office at (305) 350-9842, on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. If you are interested in the Delray Beach, Palm Beach, Naples, Sarasota, Tampa and/or St. Augustine market reports, CLICK HERE.