Douglas Elliman’s Q3 2018 Miami Mainland & Miami Beach Market Reports

 
Douglas Elliman has just released the third quarter 2018 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 Q3 2018 Market Reports:

Q3 2018 Miami Coastal Mainland Market Report

Q3 2018 Miami Beach & Barrier Islands Market Report

Miami Coastal Mainland Q3 2018 Sales Highlights

“The market showed improving conditions with rising price trends as well as sales and inventory.” 

• With a dozen consecutive quarters with year-over-year sales declines, the overall number of sales jumped 11.1% to 3,868 from the same quarter last year.
• Listing inventory rose 11.8% to 11,545 from the same period last year which is 3.2% higher than the 5-year quarter average of 11,192.
• Median sales price rose 4.8% to $315,000 from the year-ago quarter, the 16th consecutive quarterly increase.

DOWNLOAD: Douglas Elliman’s Q3 2018 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 Q3 2018 Sales Highlights

“The market continued to show rising price trends, modest inventory growth and a surge in sales.”

• There were 808 overall market sales, up 50.7% more than the year-ago quarter. Listing inventory edged 3.3% higher to 6,089 listings.
• Days on market, the number of days from the last price change, if any, to the contract date edged up 4.2% to 149 days. Listing discount, the percentage difference between the asking price at the time of contract and the contract price rose to 10.3% from 8.9% in the same period a year ago.
• Price trend indicators showed mixed results as sales drifted to larger sized units. This was evidenced by the growth in the 3-bedroom and 4-bedroom condo market share.

DOWNLOAD: Douglas Elliman’s Q3 2018 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 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.