Douglas Elliman’s Q3 2019 Miami Mainland & Miami Beach Market Reports

Douglas Elliman has just released the 3rd 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 Q3 2019 Market Reports:

Douglas Elliman’s Q3 2019 Miami Coastal Mainland Market Report

Douglas Elliman’s Q3 2019 Miami Beach & Barrier Islands Market Report

Miami Coastal Mainland Q3 2019 Sales Highlights

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

• The total number of condo and single-family home sales increased by 4.6% to 4,045 from the same period last year and was 9.3% above the 3,700 quarter average of the past 5 years.
• By property type, the pattern is choppy, but the market continues to see more activity, albeit slowly.
• Market-wide listing inventory fell 3.5% to 11,139 over the same period as falling mortgage rates helped drive more sales, thereby eroding inventory levels.

DOWNLOAD: Douglas Elliman’s Q3 2019 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 2019 Sales Highlights

“The rise in sales across property types overpowered the modest gain in listing inventory.”

• The median sales price market-wide was $410,000, up 3.8% from the prior-year quarter for the 2nd increase in the past 3 quarters.
• There were 850 sales in the 3rd quarter, up to 5.2% from the same period last year and 6.4% above the 5-year quarterly average of 799.
• Listing inventory edged up 1.4% to 6,176 over the same period and 2% above the 5-year quarterly average of 6,303.

DOWNLOAD: Douglas Elliman’s Q3 2019 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.