Douglas Elliman’s Q4 2018 Miami Mainland & Miami Beach Market Reports

 
Douglas Elliman has just released the 4th 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 Q4 2018 Market Reports:

Q4 2018 Miami Coastal Mainland Market Report

Q4 2018 Miami Beach & Barrier Islands Market Report

Miami Coastal Mainland Q4 2018 Sales Highlights

“Market-wide sales for 2018 increased annually for the first time in 4 years.” 

• Median sales price rose year-over-year for the 17th straight quarter, up 5.9% to $320,000, tied for the highest level in more than 5 years.
• After 3 years of year-over-year quarterly declines, the number of sales increased for the 2nd straight quarter, up 10.6% to 3,518. Listing inventory rose 20.9% to 12,071 from the same quarter a year ago.
• Days on market, the number of days between the list price at the time of contract and the contract date, were 81 days, up from 44 days in the year-ago quarter.

DOWNLOAD: Douglas Elliman’s Q4 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 Q4 2018 Sales Highlights

“The 1st annual rise in market-wide sales in more than 5 years.”

• Single-family median sales price rose 10.7% to $1,591,750, and average sales price jumped 18.6% to $2,672,944 respectively from the same period a year ago.
• The number of single-family sales surged year-over-year in the 2 most recent quarters by 26.7% in the 3rd quarter and 63.6% in the 4th quarter. Listing inventory showed a nominal change over the same period, slipping 0.7% in the 3rd quarter and rising 0.5% in the 4th quarter.
• For the condo market, median sale price declined 11.8% to $330,000, and average sale price fell 15.6% to $676,402 respectively from the prior-year quarter.

DOWNLOAD: Douglas Elliman’s Q4 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.