Douglas Elliman’s Q2 2020 Miami Mainland, Coral Gables & Miami Beach Market Reports Posted on August 11, 2020August 11, 2020 by Michael Light Douglas Elliman has released the 2nd quarter 2020 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 Q2 2020 Market Reports: Douglas Elliman’s Q2 2020 Miami Coastal Mainland Market Report Douglas Elliman’s Q2 2020 Coral Gables Market Report Douglas Elliman’s Q2 2020 Miami Beach & Barrier Islands Market Report Miami Coastal Mainland Q2 2020 Sales Overall Highlights “After a robust first quarter, the COVID-19 market shutdown during much of the second quarter caused sales to see substantial declines.” There were 1,149 condo sales, down 47.7% and 1,523 single-family sales, down 31.6% from the year-ago quarter. The number of condo listings fell 11.1% to 7,046, year over year. Single-family listings declined 27.6% to 2,653 as would-be sellers either pulled their listing or delayed placing them on the market during the market shutdown. Aventura Sales fell sharply year over year during the market shutdown. Price trend indicators showed mixed results during the market shutdown. Brickell Sales fell sharply year over year during the market shutdown. Price trend indicators showed mixed results during the market shutdown. Coconut Grove Condo sales fell sharply year over year during the market shutdown. Condo price trend indicators showed mixed results during the market shutdown. Single-family price trend indicators showed mixed results during the market shutdown. Single-family listing inventory continued to show significant declines from the prior-year quarter. Downtown Miami Condo price trend indicators mostly moved higher year over year. Condo listing inventory and number of sales declined during the shutdown. Single-family price trend indicators continued to rise. Single-family listing inventory and the number of sales fell sharply year over year. Palmetto Bay Sales and listing inventory fell sharply year over year during the market shutdown. Price trend indicators showed mixed results as marketing time fell. Pinecrest Sales and listing inventory fell sharply year over year during the market shutdown. Price trend indicators showed mixed results as marketing time fell. South Miami Price trend indicators and average sales size rose year over year. Listing inventory slipped as the number of sales declined sharply. DOWNLOAD: Douglas Elliman’s Q2 2020 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 Q2 2020 Sales Overall Highlights “After a robust first quarter, the COVID-19 market shutdown during much of the second quarter caused sales to drop.” The decline in sales represented what a spring housing market looks like when it is shut down to fight a pandemic. There were 98 single-family home sales to close, down 18.3% and 32 condo sales to close, down 61.4%, respectively, from the same year-ago period. Single-family home listings declined 23.5% to 342 as would-be sellers either pulled their listing or delayed placing their listing on the market during the market shutdown. The number of condo listings fell 19.5% to 223 year over year. DOWNLOAD: Douglas Elliman’s Q2 2020 Coral Gables Market Report Highlights *Please note that this only includes the City of Coral Gables. Miami Beach & Barrier Islands Q2 2020 Sales Overall Highlights “After a robust first quarter, the COVID-19 market shutdown during much of the second quarter caused sales to see substantial declines” There were 415 condo sales, down 51.8% and 86 single-family home sales, down 16.5% from the year-ago quarter. The number of condo listings rose 2.7% to 5,722 year over year. Single-family home listings declined 11.5% to 671 as would-be sellers wither pulled their listing or delayed placing them on the market during the market shutdown. Sunny Isles Beach The number of sales saw a substantial decline due to the market shutdown. Price trend indicators showed mixed year over year results. Bal Harbour The number of sales saw a substantial decline due to the market shutdown. Price trend indicators declined year over year. Bay Harbor Islands The number of sales saw a substantial decline due to the market shutdown. Price trend indicators showed mixed year over year results. Surfside All condo price trend indicators were skewed higher by the jump in sale size. Condo sales saw a substantial decline due to the market shutdown. Single-family home sales saw a substantial decline due to the market shutdown. Single-family home price trend indicators declined year over year. North Bay Village All condo price trend indicators were skewed higher by the jump in sales size. Condo sales saw a substantial decline due to the market shutdown. Miami Beach Islands The number of sales moved higher. Price trend indicators declined year over year. North Beach The number of sales saw a substantial decline due to the market shutdown. Price trend indicators declined year over year. Mid-Beach The number of sales saw a substantial decline due to the market shutdown. Price trend indicators showed mixed year-over-year results. South Beach The number of sales saw a substantial decline due to the market shutdown. Price trend indicators showed rising year-over-year trends. Key Biscayne Condo sales saw a substantial decline due to the market shutdown. Condo price trend indicators showed rising year-over-year trends. Single-family home sales rose despite the market shutdown. Single-family home price trend indicators slid year over year. Fisher Island Price trend indicators and average sales size continued to move higher. The number of sales saw a decline due to the market shutdown. DOWNLOAD: Douglas Elliman’s Q2 2020 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, 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 Senior 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.
Douglas Elliman’s Q1 2020 Miami Mainland, Coral Gables & Miami Beach Market Reports Posted on April 24, 2020 by Michael Light Douglas Elliman has just released the 1st quarter 2020 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 Q1 2020 Market Reports: Douglas Elliman’s Q1 2020 Miami Coastal Mainland Market Report Douglas Elliman’s Q1 2020 Coral Gables Market Report Douglas Elliman’s Q1 2020 Miami Beach & Barrier Islands Market Report Miami Coastal Mainland Q1 2020 Sales Overall Highlights “After noticeably stronger results in the 1st two and a half months, listing inventory growth slowed as market awareness of Coronavirus occurred in mid-March.” Overall listing inventory declined sharply on a year-over-year basis for both condos and single-family properties. Condo sales annually rose for the 4th straight quarter as price trend indicators pressed higher. Single-family price trend indicators also rose annually, and sales extended its year-over-year growth streak to the 4th straight quarter. Aventura Sales continued to rise year-over-year as price trend indicators showed mixed results. Marketing time and listing inventory declined from the year-ago results. Brickell Price trend indicators increased from year-ago levels as sales surged. Listing inventory and negotiability fell short of the prior year result. Coconut Grove Condo price trend indicators surged from a significant skew in average sales size. Condo sales rose sharply as marketing time fell. Single-family price trend indicators declined as average sales size fell sharply. Single-family listing inventory fell substantially from the prior-year quarter. Downtown Miami Condo price trend indicators and the number of sales pressed higher. Condo listing inventory and negotiability declined. Single-family price trend indicators and sales continued to rise. Single-family listing inventory declined from the year-ago level. Palmetto Bay All price trend indicators slipped as sales jumped year-over-year. Listing inventory declined from the prior-year quarter. Pinecrest All price trend indicators and sales moved higher. Marketing time and listing inventory declined from year-ago levels. South Miami All price trend indicators were skewed lower by a drop in sales size. The number of sales surged as listing inventory slipped from the prior-year period. DOWNLOAD: Douglas Elliman’s Q1 2020 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 Q1 2020 Sales Overall Highlights “After noticeably stronger results in the 1st two and a half months, listing inventory growth slowed as market awareness of Coronavirus occurred in mid-March.” Single-family median sales price rose year-over-year for the 2nd time in 3 quarters. Condo price trend indicators fell as the number of sales expanded. DOWNLOAD: Douglas Elliman’s Q1 2020 Coral Gables Market Report Highlights *Please note that this only includes the City of Coral Gables. Miami Beach & Barrier Islands Q1 2020 Sales Overall Highlights “After noticeably stronger results in the 1st two and a half months, listing inventory growth slowed as market awareness of Coronavirus occurred in mid-March.” Overall listing inventory declined year-over-year for condos and single-family properties. Condo price trend indicators declined from the year-ago quarter. Single-family price trend indicators declined annually, partially skewed by the decline in average sales size. A sharp drop in average sales size for both luxury condos and luxury single-family properties skewed price trend indicators lower. Sunny Isles Beach All price trend indicators continued to decline year-over-year as sales pressed higher. Marketing time continued to rise as negotiability tightened. Bal Harbour Price trend indicators showed mixed results due to the large drop in average sales size. The number of sales and negotiability declined. Bay Harbor Islands Price trend indicators were skewed lower by a large decline in average sales size. The number of sales jumped from year-ago levels. Surfside The condo price trend indicators using averages skewed higher by the jump in sales size. Condo number of sales equaled the amount sold in the year-ago quarter. Single-family price trend indicators declined as the number of sales stabilized. Single-family marketing time and negotiability expanded. North Bay Village Price trend indicators and the number of sales declined. Marketing time and negotiability continued to expand. Miami Beach Islands Price trend indicators showed mixed results and sales slipped. Marketing time and negotiability declined. North Beach Price trend indicators showed mixed results as sales declined. Shorter marketing times with less negotiability. Mid-Beach Price trend indicators showed mixed results as sales decreased. Marketing time expanded with less negotiability. South Beach Price trend indicators and sales declined. Marketing time expanded with less negotiability. Key Biscayne Condo price trend indicators showed mixed results as sales surged. Condo marketing time continued to rise as negotiability tightened. Single-family price trend indicators declined as sales surged. Single-family marketing time and negotiability continued to rise. Fisher Island Price trend indicators and average sales size moved higher. The number of sales was unchanged from the year-ago level. DOWNLOAD: Douglas Elliman’s Q1 2020 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, 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 Senior 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.
Douglas Elliman’s Q4 2019 Miami Mainland & Miami Beach Market Reports Posted on January 19, 2020 by Michael Light Douglas Elliman has just released the 4th 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 Q4 2019 Market Reports: Douglas Elliman’s Q4 2019 Miami Coastal Mainland Market Report Douglas Elliman’s Q4 2019 Miami Beach & Barrier Islands Market Report Miami Coastal Mainland Q4 2019 Sales Highlights “Most price trend indicators moved higher year-over-year and included a new record.” Overall condo activity showed a substantial uptick in sales and some evidence of price growth. The number of condo sales rose 7% to 1,886 from the same period last year and the highest 4th-quarter total in 4 years, consistent with the 1,834 5-year quarter average. Condo median sales price edged up 0.3% to $250,000 from the same period last year, the 23rd straight increase. DOWNLOAD: Douglas Elliman’s Q4 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 Q4 2019 Sales Highlights “The quarter was characterized by rising price trend indicators and sales, and a falling listing inventory.” The median sales price was $400,000, up 5.6% from the year-ago quarter, and rose for the 3rd time in the past 4 quarters. Year-to-date, the median sales price was $410,000, unchanged from the prior year. The average sales price rose by 9.2% to $969,991, and the average price-per-square-foot increased by 9.4% to $664, respectively, over the same period. DOWNLOAD: Douglas Elliman’s Q4 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 Light 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.
Douglas Elliman’s Q3 2019 Miami Mainland & Miami Beach Market Reports Posted on November 6, 2019 by Michael Light 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.
Douglas Elliman’s Q2 2019 Miami Mainland & Miami Beach Market Reports Posted on July 23, 2019 by Michael Light Douglas Elliman has just released the 2nd 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 Q2 2019 Market Reports: Douglas Elliman’s Q2 2019 Miami Coastal Mainland Market Report Douglas Elliman’s Q2 2019 Miami Beach & Barrier Islands Market Report Miami Coastal Mainland Q2 2019 Sales Highlights “The market was best characterized by rising sales and prices.” The number of condo sales rose 6.7% year-over-year to 2,196 – the 5th increase in the last 6 quarters. Single-family home sales rose 4.4% to 2,226 over the past year, the 3rd gain in the past 4 quarters. Rising sales are an emerging trend, but prices have been growing more consistently. The median sales price for condos and single-family homes on a year-over-year basis have not seen a decline for at least 22 quarters, the length of time this metric has been tracked. DOWNLOAD: Douglas Elliman’s Q2 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 Q2 2019 Sales Highlights “Condo market shifted to smaller sales as listing inventory stabilized.” The market share of condo sales increased for studio and 1-bedroom sales as the 2-bedroom and 3-bedroom market share slipped. This shift played a role in overstating the year-over-year decline in the overall condo price trend indicators. Condo median sales price decreased 7.9% to $350,000, and the average sales price fell 14.8% to $752,415 respectively from the year-ago quarter. The single-family market showed the opposite pattern with 5-bedroom sales being the only category to see an expansion in market share, accounting for 40.5% of all single-family sales. DOWNLOAD: Douglas Elliman’s Q2 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.
Douglas Elliman’s Q1 2019 Miami Mainland & Miami Beach Market Reports Posted on April 19, 2019 by Michael Light Douglas Elliman has just released the 1st 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 Q1 2019 Market Reports: Q1 2019 Miami Coastal Mainland Market Report Q1 2019 Miami Beach & Barrier Islands Market Report Miami Coastal Mainland Q1 2019 Sales Highlights “Median sales price rose annually for the 18th consecutive quarter.” Median sales price edged 0.6% higher to $311,950 from the prior year quarter, but market pricing remained softer at the top. After 2 quarters of market-wide year-over-year sales gains, the number of sales declined 7.5% to 3,104 from the same period a year ago. Market-wide listing inventory expanded 6.9% to 12,247, the 4th consecutive annual increase. As a result, the pace of the market eased. The months of supply, defined as the number of months to sell all listing inventory at the current rate of sales, increased by 15.7% to 11.8 months over the same period. DOWNLOAD: Douglas Elliman’s Q1 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 Q1 2019 Sales Highlights “Overall price trend indicators moved higher as listing inventory slipped.” Listing inventory slipped 0.3% year-over-year to 6,726, the 1st decline in 5 years. The overall trend in sales was choppy, falling 2% to 772 over the same period, the 2nd decline in 4 quarters. In the overall market, condo median sales price was unchanged from the year-ago quarter as single-family median sales price jumped 17.9% to $1,650,000. In the luxury market, representing the top 10% of all sales, condo median sales price increased 12.7% to $3,225,000 while single-family median sales price surged 60% to $10,100,000 respectively from the year-ago quarter. Luxury single-family price trends were skewed higher by a 71.4% surge in average sales size to 9,548 square feet. DOWNLOAD: Douglas Elliman’s Q1 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.
Douglas Elliman’s Q4 2018 Miami Mainland & Miami Beach Market Reports Posted on January 23, 2019 by Michael Light 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.
Douglas Elliman’s Q3 2018 Miami Mainland & Miami Beach Market Reports Posted on October 19, 2018 by Michael Light 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.