The Fall 2018 Issue of Elliman Magazine was just released and as usual, I provided a two-page spread showing interesting (my definition, lol) of what is going on in some of the markets under their national footprint. The magazine is well done and a fun aspirational read.
[click to expand]
Here’s the full online version of the magazine:
Tags: Elliman Magazine
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Reports
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Our 4 comprehensive reports for Douglas Elliman on the residential sales markets for Miami, Boca Raton, Fort Lauderdale and Palm Beach this week.
Click on each report to download!
MIAMI
With the Miami housing market well into the third
year of its recovery, rising prices have begun
to pull listing inventory into the market. Median
sales price increased 16.1% to $244,000, the
highest point reached since 2008. Average sales
price jumped 19.1% to $461,374 over last year to
a 5 year high and average price per square foot
exceeded $305 per square foot for the first time
in 6 years. Listing inventory bottomed in the second
quarter of 2013, trending higher, up 15.2% to 12,664 from the prior year quarter. Along with
the rise in supply, demand continued to rise.
The number of sales rose 3.9% to 5,133 from
the prior year quarter, to the highest first quarter
total in the 8 years this metric has been tracked.
The market share of distressed sales, once the
majority of the market, continued to decline.
Excluding short sales and foreclosures, market
share rose to 69.4%, the highest level reached
in the 4 years this metric has been tracked. The
number of distressed listings and distressed
With the Miami housing market well into the third
year of its recovery, rising prices have begun
to pull listing inventory into the market. Median
sales price increased 16.1% to $244,000, the
highest point reached since 2008. Average sales
price jumped 19.1% to $461,374 over last year to
a 5 year high and average price per square foot
exceeded $305 per square foot for the first time
in 6 years…
BOCA RATON
CONDO Median sales price surged 16.3% to $150,000
and average sales price declined 8.8% to
$229,569 respectively from the prior year
quarter. Listing discount, the percent
difference between the list price at time
of contract and the sales price, rose to
7% from 3.8% in the prior year quarter,
but fell from 7.7% in the prior quarter…
SINGLE FAMILY Median sales price jumped 19.4% to
$370,000 and average sales price rose
5.3% to $528,616 respectively from the
prior year quarter. Listing discount edged
up to 6.9% from 6.1% in the prior year
quarter, as sellers were slightly more
optimistic when determining their
listing price…
FORT LAUDERDALE
CONDO Median sales price jumped 19.8% to
$255,000 from the same quarter last year,
the highest level reached since 2008.
Average sales price followed the same
pattern, rising 23.9% to $379,391 over the
same period also reaching a 5 year high.
SINGLE FAMILY The average time to market
a property was 91 days, essentially
unchanged from 90 days in the prior year
quarter. Listing discount, the percentage
difference between the list price at time
of contract and the sales price, jumped
to 8.1% from 4.5% as sellers pressed list
prices higher than market trends support.
PALM BEACH
CONDO There were 68 sales during the quarter,
25.9% more than the same period last year.
Listing inventory fell 16.9% to 360 over the
same period. As a result the absorption
rate, the number of months to sell all
inventory at the current pace of sales, fell
34% to 15.9 months from the same period
last year. The faster market pace pushed
down days on market, the number of days
from the last price change to the contract
date, by 10 days to an average of 182 days.
SINGLE FAMILY Median sales price
increased 10.7% to $3,100,000 from the
prior year quarter to the highest first quarter
reached since 2009. Average sales price
jumped 56.7% to $6,450,093 over the same
period. The average square footage of a
sale was 5,261, up 20.9% from the prior
year quarter.
Tags: downloads
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Reports
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Today Douglas Elliman published four 2Q 2013 South Florida market reports we prepare that include Miami, Boca Raton, Fort Lauderdale and Palm Beach.
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Reports
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[click images to open each market report]
We recently completed the 1Q 2013 South Florida market report series for Douglas Elliman. These markets include Miami, Boca Raton, Fort Lauderdale and Palm Beach.
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Reports
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We published our report on the Fort Lauderdale, Florida sales market for 4Q 2012. This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.
Key Points
CONDO/TOWNHOUSE
Median sales price jumped 19.4% from the same period last year to $215,000. Average sales price and average price per square foot increased 13.5% and 12.9% respectively over the same period, while number of sales increased 3.7% to 474…
SINGLE FAMILY Median sales price jumped 13.8% from the prior year quarter to $182,000. Average sales price and average price per square foot increased 2.6% and 6.3% respectively over the same period. There were 457 fourth quarter single-family sales, a 19.3% surge above prior year levels…
You can build your own custom data tables. We’ll be adding a chart library for this market area shortly.
The Elliman Report: 4Q 2012 Fort Lauderdale [Miller Samuel]
The Elliman Report: 4Q 2012 Fort Lauderdale [Douglas Elliman]
Aggregated Custom Market Data Tables [Miller Samuel]
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Reports
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We published our inaugural report on the Fort Lauderdale, Florida sales market for 3Q 2012. This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.
Key Points
-Over the last year price indicators in Fort Lauderdale are up across the board.
-Buyers and sellers have moved more closely together on price than they have in the past six years.
-Marketing times for the overall market are at their fastest pace in six years.
Here’s an excerpt from the report:
CONDO/TOWNHOUSE
Median sales price increased 16.3% to $200,000 from prior year levels. Average sales price and average price per square foot increased 19.6% and 25.4% respectively over the same period. Sales fell 12.2% to 466 from 531 sales in the same quarter last year. Listing inventory held firm over the past two quarters at just above the 1,000 threshold…
SINGLE FAMILY The average size of a single family sale was 1,870 square feet, 8.7% larger than the same period last year. This compounded the gains in all price indicators. Median sales price jumped 58.4% to $221,750 from prior year levels…
We’ll be adding data soon so NOW UPDATED FOR 3Q12 you can build your own custom data tables on the market. We’ll be adding a chart library for this market area soon!
The Elliman Report: 3Q 2012 Fort Lauderdale [Miller Samuel]
The Elliman Report: 3Q 2012 Fort Lauderdale [Douglas Elliman]
Aggregated Custom Market Data Tables [Miller Samuel]
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Reports
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We published our inaugural report on the Fort Lauderdale, Florida sales market for 2Q 2012. This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.
Key Points
Fort Lauderdale, Florida
-Overall and luxury price indicators for condo and single family properties saw double-digit increases from prior year.
-Condo and single family sales were below year ago levels but were both the 5th highest quarterly total in more than 6 years.
-Waterfront homes were the only segment to post a year over year increase in sales.
-Days on market fell from year ago levels for both condos, single family and luxury properties.
Here’s an excerpt from the report:
CONDO/TOWNHOUSE Median sales price was up 21.2% to $209,000, from $172,440 in the prior year quarter. Average sales price and price per square foot showed similar double-digit gains over the same period. The number of sales declined 7.7% to 608 from 659 in the prior year quarter. With 1,035 listings at the end of the second quarter, the 5.1-month absorption rate was considered tight for the region…
SINGLE FAMILY Listing discount fell to 5.7% from 7.4% in the same period last year. Days on market was 113, 18 days faster than in the same period last year. There were 745 listings and as a result, the absorption rate was 5 months, considered fast relative to other markets in the region…
You can build your own custom data tables on the market – now updated with 2Q 12 data. We’ll be adding a chart library for this market area soon!
The Elliman Report: 2Q 2012 Fort Lauderdale [Miller Samuel]
The Elliman Report: 2Q 2012 Fort Lauderdale [Douglas Elliman]
Aggregated Custom Market Data Tables [Miller Samuel]
Tags: Absorption
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Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state, and federal courts. He holds the Counselors of Real Estate (CRE) designation, is an Appraiser “A” Member of the Real Estate Board of New York, and is a member of RAC.
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