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:
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.
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.
*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 firstname.lastname@example.org.