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@miamicondos.com.
