Douglas Elliman’s Q4 2017 Miami Mainland & Miami Beach Market Reports

 
Douglas Elliman has just released the fourth quarter 2017 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 neutral 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 2017 MARKET REPORTS:

Q4 2017 Miami Coastal Mainland Market Report

Q4 2017 Miami Beach & Barrier Islands Market Report

Miami Coastal Mainland Q4 2017 Sales Highlights

“Rising prices, falling inventory with lower sales levels as distressed activity declined rapidly.” 

• Median sales price rose 6% to $302,050, and average sales price increased 6.8% to $415,219 respectively over the same period.
• Listing inventory slipped 7% to 9,988 from the year-ago quarter, the 6th consecutive decline.
• The number of sales declined 10.2% to 3,180 from the prior-year quarter. The number of distressed sales fell 41.7% as the number of non-distressed sales slipped 4.9% over the same period.

DOWNLOAD: Douglas Elliman’s Q4 2017 Miami Coastal Mainland Market Report Highlights

*Please note that Miami Coastal Mainland includes Aventura, Brickell, Coconut Grove, Coral Gables, Downtown Miami, Palmetto Bay, Pinecrest and South Miami.

Miami Beach & Barrier Islands Q4 2017 Sales Highlights

“The market is rebounded strongly after Hurricane Irma’s impact last fall.”

• There were 757 sales to close in the 4th quarter, up 14.2% from the prior year quarter and the 3rd quarterly rise in 2017. New pending sales, defined as contracts signed within this quarter, surged 16.1% as the year ended with an uptick in activity.
• Listing inventory rose 6.7% to 6,422 over the same period, outpaced by the rise in sales.
• Median sales price rose 2.8% to $406,000, and average sales price increased 2.3% to $885,612 respectively from the prior-year quarter.

DOWNLOAD: Douglas Elliman’s Q4 2017 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 real estate in Miami or Miami Beach, please contact Michael Light, Broker Associate at Douglas Elliman and Founder/Owner of Miami Luxury Homes. 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.