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DOUGLAS ELLIMAN RELEASES EXCLUSIVE 2ND 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 second 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 overall sales are generally up and so are prices.

Miami Beach condo listing inventory declined year over year for the first time in the 22 consecutive quarters it was tracked. Single family median sales price increased year over year for the sixth consecutive quarter. In Miami Coastal Mainland, both condo and single family median sales price have not seen a year over year decline during a quarter in more than three years.

In Fort Lauderdale, condo sales and price trend indicators fell short of year ago levels as single family sales increased.

Boca Raton single family and condo sales increased and listing inventory decreased respectively from the year ago period. Condo median sales price hasn’t declined year over year in twelve consecutive quarters.

Single family price trend indicators and sales rose year over year in Delray Beach. Condo median sales price hasn’t declined annually in fourteen consecutive quarters.

In the Wellington market, all condo price trend indicators increased year over year as sales surged. Both single family prices and sales moved higher.  

Although they missed the second quarter, there have been four single family sales to close in the first days of July for over $200 million in Palm Beach.

Single-family sales rose year over year for the second time in three quarters in Jupiter as condo sales rose for the fourth consecutive quarter. In Palm Beach Gardens, single-family sales rose and all price trend indicators continued to move higher. Condo median price rose annually for the 27th time in 28 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.

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