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DOUGLAS ELLIMAN RELEASES EXCLUSIVE 1ST QUARTER 2019 ELLIMAN REPORT FOR THE MIAMI, BOCA RATON, FORT LAUDERDALE, AND PALM BEACH MARKETS

It is with great pleasure that I share with you the just released first quarter 2019 “Elliman Reports” for the South Florida sales markets, the leading resource on the state of these markets. Our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and objective market insight available.

An overall assessment of the South Florida markets shows price trends edged higher but sales slipped and inventory edged a little higher this quarter.

Overall price trend indicators in Miami Beach moved higher than year ago levels as the number of sales slipped. Marketing time jumped as older inventory was sold off and listing inventory slipped. In Miami Coastal Mainland, median sales price rose year over year for the eighteenth consecutive quarter, and sales declined annually for the first time in three quarters.

In Fort Lauderdale, condo price trend indicators slid year over year with a decline in average sales size. Luxury condo pending sales signed in the quarter surged over the same period last year. Single family luxury median and average sales price moved higher as marketing time stabilized.

In Boca Raton, condo and single family price trend indicators rose year over year as sales slipped for the first time in three quarters. Luxury condo price trends surged year over year partially due to the jump in average sales size. 

Single-family sales in Delray Beach slipped for the first time in six quarters as listing inventory expanded for four quarters. Condo price trend indicators haven’t declined in thirteen straight quarters. 

In Wellington, condo median sales price increased annually for the tenth straight quarter. Single-family price trend indicators all rose year over year for the fourth consecutive quarter. 

In Palm Beach, condo sales rose annually for the fifth consecutive quarter to the second highest market share recorded. Single family price trends showed mixed results as sales fell to their lowest first quarter total in seven years. 

Single-family median sales price moved higher for the second straight month. Condo sales rose year over year for the third consecutive quarter in Jupiter. In Palm Beach Gardens, single-family sales slipped for the third time in four quarters as all price indicators rose. Condo median price slipped year over year for the first time in 27 quarters.

This update is brought to you by The Kawas Team, specializing in South Beach luxury homes.  The Kawas Team can help you find the right property.  If you would like additional information on pre-construction sales, call 305.608.6681 to speak with an expert.  Visit our website for information on the many new projects throughout the many Miami luxury neighborhoods and beyond.