Miami Beach Real Estate

Miami Beach Q2 2023

Every quarter Douglas Elliman our brokerage produces the most insightful and detailed overlook of the local real estate market. The report below covers the Miami Beach real estate market for the 2^nd quarter of 2023

For a full copy of the report please send an email to [email protected]

Key Highlights:

In most of the Florida markets we cover are seeing:

Sales remain below the year-ago frenzy that characterized the pandemic-era housing boom, but most markets experienced a robust, greater-than-seasonal quarterly increase.
Despite fewer sales, listing inventory has been slow to recover with modest gains, yet remaining at half the levels seen pre-pandemic.
The supply shortage has continued to provide a firm underpinning for prices. Many markets experienced stable to rising prices, and those that declined tended to experience a shift to a smaller average size.
Besides firmer pricing, bidding wars remained prevalent, accounting for five to fifteen percent of all sales in many markets analyzed.
The pace of the market, also known as months of supply, remained slower than the year-ago frenzy but accelerated again in the new year

Condo & Single Family Dashboard Year over Year (Q2 reporting)

Area: Miami Beach and the Barrier Islands Sales Reporting

Median Sales Price +4.3%

Months of Supply +4.3

Closed Sales -43.6%

Inventory +19.2%

Marketing Time + 3 days

Negotiability +3.5%

We produce similar reports for various neighborhoods across Florida, New York, Aspen, California and Boston. If you are interested in your local report please reach out to us.

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