MARKET REPORT FEBRUARY 2022
TRENDS
TODAY’S REAL ESTATE ALONG FLORIDA’S EAST COAST
Happening at Sotheby’s
Fine Jewels Live LIVE AUCTION • 2 MARCH 2022 • 14:30 CET PARIS
ONLY ONE REAL ESTATE BRAND ALONG FLORIDA’S EAST COAST IS CONNECTED TO THE LONGEST-STANDING TASTEMAKER IN THE WORLD.
TO LEARN MORE, VISIT SOTHEBYS.COM
LOCAL EXPERTISE WITH A GLOBAL PERSPECTIVE I am excited to share the February edition of our market report offering strategic perspectives on real estate. The real estate market along Florida's East Coast continues to expand, and ONE Sotheby's International Realty is harnessing that momentum by enhancing its local presence. We are proud to announce that ONE Sotheby's International Realty has joined forces with First Coast Sotheby's International Realty. This partnership creates an unprecedented leader in luxury real estate along Florida's East Coast and makes us the leading brokerage covering markets from Amelia Island, Jacksonville, Palm Coast, Ponte Vedra and St. Augustine, all the way to Miami. To provide high-quality and accessible information to guide our clients with superior insights and a strategic perspective on real estate, we continue an unmatched collaboration with Rosen Consulting Group, a trusted advisor to top public and private real estate organizations. Our reports are your best resource to make smarter real estate decisions. Soon, we will be including insights from our new markets in Northeast Florida. As Florida's East Coast keeps catching attention as a primary residence destination, we'll continue to combine our partner's analytical approach and global viewpoint with the local expertise of our real estate professionals to advise our clients with timely and relevant knowledge. With gratitude,
ABOUT TRENDS: Daniel de la Vega President ONE Sotheby’s International Realty
ONE Sotheby’s International Realty presents the only market report focused on Florida’s East Coast. From Miami to Cocoa Beach, data is presented from a macro perspective down to city level. Data is sourced from local Multiple Listing Service (MLS) organizations. Written analysis created in partnership with the Rosen Consulting Group, a nationally recognized consulting firm and trusted advisor to top public and private real estate operators and capital providers.
BY When it comes to the luxury marketplace, factors like globalization, technology, and emerging cultural trends are rapidly redefining what luxury means and how brands and companies go to market. We created this podcast to invite some of the world’s leading brands and companies to talk about the innovative ways in which they are navigating this ever-evolving landscape.
NEW EPISODES
SU BSC R I B E TO DAY
1
“We are going to see a rise in virtually integrated environments that provide users an immersive digital experience.”
2
“In today’s market the experience needs to be practical. It’s not about opulence. It’s about the luxury that we all want: more time.”
MAYI DE LA VEGA FOUNDER AND CEO, ONE SOTHEBY’S INTERNATIONAL REALTY
GLENN GONZALES FOUNDER AND CEO OF JET IT
For those who seek the highest level of service, expertise and reach in South Florida and beyond.
Cell-561.888.3115
Jennifer Susanne Sommers
www.AgentBoca.com
Jennifer Sommers GLOBAL REAL ESTATE ADVISOR 561.888.3115 E jen@agentboca.com W agentboca.com
Born in Youngstown, Ohio, Jennifer Sommers learned from a young age, “ You can’t really lose in Real Estate.” Her father owned 26 golf stores in 2001 and owned all 26 commercial spaces along with them. After graduating from college with a degree in Journalism and a minor in Business at Arizona State University, Jen started working for a Conde Nast Rep Firm here in Southern Florida, where she represented Vogue, Conde Nast Traveler, Self, and Bon Appetit. She later transitioned to a Superyacht publication called Showboats Intl, where she represented all Luxury Brand Advertisers for North America. After her 8 successful years in advertising sales, Jen quickly hit the ground running and has successfully represented buyers and sellers in all areas of South Florida. Her expertise lies in the luxury home market, with a focus on East Boca Raton, Delray Beach, and Parkland. Her clients are sophisticates, who understand what today’s market requires. Jen succeeds in meeting her client’s expectations by listening to their needs and wants, and then educating them on the South Florida market so they can make the best decisions for their goals. Jen has been a top producing agent for One Sotheby’s International Realty’s Boca Raton and Delray Beach offices for two years running, and continues to provide unparalleled, white glove service in every aspect of her career. Jen has been coming to South Florida since the early 80’s and became a permanent resident in 2002. Her love of outdoor activities was a natural fit for the South Florida lifestyle. When Jen is not working, she can be found with her family boating, biking on miles of nearby park trails, walking, golfing, or playing tennis. Boca Raton is the perfect place to raise a family, spend time with friends and enjoy life. As they say, “It’s all good!”
Cell-561.888.3115
Jennifer Susanne Sommers
www.AgentBoca.com
Client Testimonials I am so fortunate to have worked with these individuals and assisted with their unique goals. This is the highest form of validation a real estate professional can aspire to. I am committed to continuing to outperform my competition by giving my clients unparalleled service beyond their expectations.
Cell-561.888.3115
Jennifer Susanne Sommers
www.AgentBoca.com
Working with Jen Sommers is literally a dream come true. We had one week in Florida to find our perfect home. Jen listened to everything we wanted and only showed us homes we would fall in love with. It was so hard to decide because they were all perfect. Before we left we had a contract on truly the home of our dreams and can’t wait to be living in it. - LINDA D.
Jen responded quickly to everything we asked, she literally “put up” with us as she understands the stress of buying a new home and relocating from across the country. I highly recommend her for everyone. If you don’t know an agent and aren’t moving in the areas she sells in she will connect you to an agent anywhere and if she recommends them I am 100% sure you will love them too. - DEBI C.
Jen was most helpful in selling my previous home and finding exactly what I wanted for my new home. She is extremely knowledgeable in the skills needed for successful negotiations in real estate. Jen is very professional and pleasant to work with. I highly recommend her and look forward to doing more business with her in the future. - MARK F.
Jen worked with us over along period of time. She was always prepared and very friendly. During the buying process we lived over 1000 miles away and she would preview properties on our behalf and very quickly learned exactly what our taste was and what we wanted. Once the deal was done her work did not stop. She helped us with various vendors and met them at the home before we arrived. Jen helped us with items outside of the real estate area such as shopping locations and restaurants. Even now, 3 months after the sale, she calls to see how things are going. If you are looking to buy a home in Florida USE Jen Sommers! - DAVID D.
Jen Sommers and (husband) Robin are absolutely the best realtor team that you could hope to encounter. But beyond that, they are just truly nice people and it is delightful to interact with them. They helped me in searching for a very specific type of property, and the results exceeded my expectations. They have a very detailed knowledge of their area and do a great job of focusing on their clients needs. Their coordination, communication and negotiation skills are top notch, and once a transaction is underway they shepherd it energetically and expeditiously to conclusion. They also have an extensive knowledge of other real estate professionals, lawyers, contractors and property service professionals which is invaluable. I could not be happier with my experience with them and I cannot imagine doing another real estate transaction in South Florida without them. - BILL W. Cell-561.888.3115
Jennifer Susanne Sommers
www.AgentBoca.com
OUR OFFICES ALONG FLORIDA’S EAST COAST COCOA VILLAGE
MELBOURNE BEACH VERO BEACH
STUART JUPITER PALM BEACH GARDENS
DELRAY BEACH BOCA RATON FORT LAUDERDALE WESTON AVENTURA
SUNNY ISLES
MIAMI BEACH
BRICKELL
KEY BISCAYNE CORAL GABLES
2
Cell-561.888.3115
Jennifer Susanne Sommers
O N ESOT H E BYS R E A LT Y.CO M www.AgentBoca.com
AN OFFICIAL REAL ESTATE PARTNER OF THE MIAMI DOLPHINS Aligned by a passion for South Florida and leading with sportsmanship, the Miami Dolphins are the perfect partner to open new opportunities for our agents to connect with the players and fans in a
“
way no other brokerage can.
This collaboration goes beyond brand promotion; it opens new doors for our agents to connect with the team’s fans, staff and players to talk real estate, top properties along Florida’s East Coast, and of course, football.” DANIEL DE LA VEGA, PRESIDENT ONE SOTHEBY’S INTERNATIONAL REALTY
DISCOVER MORE ON ONESOTHEBYSREALTY.COM/DOLPHINS
THE REAL ESTATE MARKET ALONG FLORIDA’S EAST COAST
FE B RUA RY 202 2
After a record-breaking year, the Florida East Coast
Following a solid end to 2021, sales volume decreased
housing market strengthened. Limited availability of
substantially in January due to typical seasonal trends
homes for sale and decreasing affordability remain
and limited inventory constrained sales. In January,
the strongest headwinds to start the year. The Florida
sales activity slowed by 23%, closing the month with
economy continued to improve, helping to support
slightly more than 8,000 home sales. The single-family
even greater housing demand. Additionally, the
home market slowed to a greater degree than the
recovery in the local tourism industry and international
condo segment where inventory was slightly more
travel should increase foreign sales in the coming year,
available. In comparison with one year ago, sales
further bolstering buyer demand.
volume was slightly higher.
AVERAGE SALES PRICE BY COUNTY FLORIDA’S EAST COAST
JAN 2021
JAN 2022
SINGLE-FAMILY HOMES
JAN 2021
JAN 2022
CONDOMINIUMS
SUPPLY OF SINGLE-FAMILY LISTINGS WOULD BE ABSORBED WITHIN ONE AND A HALF MONTHS To begin the year, few homes came to market. Available
segment stabilized at slightly more than one month. As
inventory fell by 10% to roughly 15,500 homes.
condo purchase activity continued to accelerate, the
Compared with one year ago, for-sale inventory
share of units closed above the asking price reached
decreased by 60%. With few options for purchase,
20%. In the single-family home segment, where the
potential buyers remained on the sidelines in some
average list price increased by more than 6% in January
neighborhoods, leading to the drop in pending and closed
alone, the share of units closing at a premium stabilized
sales. As the sales pace slowed, the months of supply
in the low-30% range.
ticked up slightly. At the current sales rate throughout the region, condo inventory would be absorbed within
Throughout the Florida East Coast, pricing trends for
slightly more than two months while single-family listings
January were somewhat mixed. Overall, the median
would be absorbed within one and a half months.
single-family home price decreased slightly while the median condo price ticked higher. By county, the median
Available homes in prime neighborhoods or priced
single-family home price increased the most in Indian
below market perceptions continued to garner the
River County, while the median condo price increased
most significant buyer interest and sold comparatively
the most in Miami-Dade County. The median price per
quickly. The average time on market of condos
square foot for both segments increased, highlighting the
approached a cyclical low while the single-family home
value appreciation for most homes in the region.
MEDIAN SALES PRICE FLORIDA’S EAST COAST
$480,000 -1%
THE REAL ESTATE MARKET ALONG FLORIDA’S EAST COAST
FE B RUA RY 202 2
FOR HOMES UNDER A $1 MILLION, CLOSINGS ABOVE THE LIST PRICE MORE THAN DOUBLED
MULTIPLE BIDS AND NEW PRICING RECORDS
In line with year-end activity, sales and price
Following a positive start to 2022, the regional
appreciation of homes in the lower and middle levels
housing market is poised to accelerate and potentially
of the pricing spectrum accelerated. In particular,
set new pricing records. The coming year is likely to
sales volume in the $1 million to $3 million range
witness similar trends to the record-breaking 2021.
increased by 23% compared with one year ago while
While home values appreciated substantially during
transactions in the $3 million to $5 million range
the past two years, existing homeowners may remain
surged by 77%. For homes priced less than $1 million,
reluctant to sell properties. With little change to
the number of sales closed above the list price more
for-sale inventory on the horizon, the elevated buyer
than doubled.
demand will funnel into the few remaining listings, leading to multiple bid situations and rising home prices in many neighborhoods. Rising mortgage rates may keep some potential buyers on the sidelines but is unlikely to dampen much demand in the near term.
AVAILABLE INVENTORY FLORIDA’S EAST COAST SINGLE- FAMILY HOMES AND CONDOMINIUMS ↓10%
Nov 2021
Dec 2021
Jan 2022 ↓10% ↓11%
↓ 16%
↓ 13%
↓12%
SOLD ABOVE LISTED PRICE FLORIDA’S EAST COAST
JAN 2021
JAN 2022
JAN 2020
ABOVE LISTING PRICE
SINGLE-FAMILY HOMES
FOR SALE
MEDIAN SALES PRICE
JAN 2021
AT LISTING PRICE OR LOWER
AVG SALES PRICE
PRICE PER SF
CONDOMINIUMS
CLOSED TRANSACTIONS
HIGHEST SALES
To Live Exquisite is to Live Extraordinary. Situated along the beautiful coastline of South Brickell, The St. Regis Residences, Miami epitomize elegant living. It mirrors the sensibilities of those who are driven by connoisseurship, demand excellence, respect tradition and value individuality above all else. St. Regis represents a future propelled by a historic past. It’s a place where new generations will create lifetimes of legendary moments, in one-of-a-kind homes for individuals who perceive their personal legacies innately intertwined with the rich heritage of Miami.
Future Residences Located 1809 Brickell Avenue Miami, Florida 33129 +1 786 713 3558 MiamiSRR.com ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. The St. Regis Residences, Miami East Tower a condominium within The St. Regis Residences, Miami (the “Condominium”) is developed by 1809 Brickell Property Owner, LLC (“Developer”) and this offering is made only by the Developer’s Prospectus for the Condominium. Sketches, renderings, or photographs depicting lifestyle, amenities, food services, club services, rental services, hosting services, finishes, designs, materials, furnishings, fixtures, appliances, cabinetry, soffits, lighting, countertops, floor plans, specifications, or art are proposed only, and the Developer reserves the right to modify, revise, or withdraw any or all of the same in its sole discretion. Pursuant to license agreements, and for so long as the license agreement governing use of a name is not terminated or expired, Developer has a right to use the trade names, marks, and logos of: (1) St Regis; (2) St. Regis Residences; (3) The Related Group; and (3) Integra Investments, LLC, each of which is a licensor and none of which is the Developer. Marriott International, Inc. is not responsible for the marketing, development, or sales of the Condominium. Consult the Developer’s Prospectus for the proposed budget, terms, conditions, specifications, fees, and Unit dimensions. The Developer is not incorporated in, located in, nor a resident of, New York. This is not intended to be an offer to sell, or solicitation of an offer to buy, condominium units in New York or to residents of New York, or of any other jurisdiction were prohibited by law. 2022 © 1809 Brickell Property Owner, LLC, with all rights reserved.
BAHA�MAR.._ RESIDENCES
Luxury Residential Living From $726,000 Contact Us CJ
242.788.8866
181 info@bahamarsir.com � bahamarluxuryresidences.com
ONE Sotheby's INTERNATIONAL REALTY
© 2021 ONE Solheby's International Realty. All rights reserved. Sotheby's International Realty®and the Sotheby's International Realty Logo are service marks licensed to Sotheby's International Realty Affiliates LLC and used with permission. ONE Sotheby's International Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act Each franchise is independently owned and operated.Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Solheby's International Realty Affiliates LLC nor any of its affiliated companies. The information contained herein is deemed accurate but not guaranteed. Oral representations cannot be relied upon as correctly staling the representations of the developer. For correct representations, reference should be made to the documents required by section 718.503, Florida Statutes, to be furnished by a developer to a buyer or lessee. Pricing subject to change wtthout notice.
SINGLE-FAMILY HOMES
Miami-Dade County INCREASED ACTIVITY IN ENTRY LEVEL MARKET Tight supply continued to constrain sales, yet buyer demand accelerated. In particular, bidding activity for homes priced less than $1 million accelerated with nearly 47% of homes in this range closed at greater than the asking price.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Miami-Dade County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022 ↓ 8%
ABOVE LISTING PRICE
AT LISTING PRICE OR LOWER
CONDOMINIUMS
Miami-Dade County MEDIAN PRICE AT HISTORIC HIGH The median price reached a new high, increasing by nearly 3% in the last month. Even as buyer demand increased, the share of sales over the asking price was the lowest in the region at 13%.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Miami-Dade County SALES BY NEIGHBORHOOD PRICE PER SF
AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2020
ABOVE LISTING PRICE
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022
AT LISTING PRICE OR LOWER
↓11%
SINGLE-FAMILY HOMES
Broward County MEDIAN PRICE REACHES RECORD HIGH The median price reached a record level in January. In the last year, the median price increased by more than 20% and more than 38% of homes closed above the asking price, the highest level in the region. Luxury home sales accelerated, with 22 homes sold at more than $3 million, more than double last January.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Broward County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
ABOVE LISTING PRICE
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022
AT LISTING PRICE OR LOWER
↓ 10%
CONDOMINIUMS
Broward County CONDO MARKET ALSO REACHES RECORD LEVEL The median condo price also broke the county record after increasing by 2% in the last month. Intense bidding on many properties brought the share of units sold for more than the list price to 22%, the highest share in county history.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Broward County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
ABOVE LISTING PRICE
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022
AT LISTING PRICE OR LOWER
↓10%
SINGLE-FAMILY HOMES
Palm Beach County COMPETITION FOR LOWER PRICED HOMES SURGED The median price increased by nearly 24% in the last year, remaining near the record set in December. Homes priced below $1 million sold much faster than last year and more than 30% of these sold at a premium above the asking price.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Palm Beach County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
ABOVE LISTING PRICE
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022
AT LISTING PRICE OR LOWER
↓ 9%
CONDOMINIUMS
Palm Beach County LIMITED INVENTORY CONCENTRATES BUYER ACTIVITY Available inventory fell by more than 74% in the last year, with concentrated buyer competition helping to boost the median price by roughly 18% during that period. At the current pace of sales, for-sale inventory would be absorbed in a little more than five weeks.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Palm Beach County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022 ↓13%
ABOVE LISTING PRICE
AT LISTING PRICE OR LOWER
SINGLE-FAMILY HOMES
Martin County LACK OF INVENTORY LEADS TO FEW SALES Sales volume fell once again, reaching roughly half of the December total. Though the median price also fell by 16% from the previous month, roughly one-third of homes sold for more than the list price. For-sale inventory reached its lowest level on record.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Martin County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022 ↓ 23%
ABOVE LISTING PRICE
AT LISTING PRICE OR LOWER
CONDOMINIUMS
Martin County HIGHER COMPETITION FOR MORE AFFORDABLE CONDOS Buyer competition accelerated for condos priced less than $1 million. Almost 40% of units were sold above the listing price, compared to only 10.3% of similarly priced units last year.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Martin County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022 ↓
ABOVE LISTING PRICE
AT LISTING PRICE OR LOWER
20%
SINGLE-FAMILY HOMES
Indian River County MEDIAN PRICE SURGED IN JANUARY The median price increased by 7% in January, driving the median price to a new record high. For-sale listings fell by 10% in January and the limited supply helped to drive the average days on market to nearly its lowest point.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Indian River County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2020
ABOVE LISTING PRICE
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2021
AT LISTING PRICE OR LOWER
↓ 10%
CONDOMINIUMS
Indian River County LIMITED INVENTORY CONSTRAINS SALES Limited supply remains the primary constraint on the market and sales volume fell to a low level. The increased competition did not translate into strong bidding activity, with only 17% of units closed at great than the list price.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Indian River County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
PRICE PER SF
SOLD ABOVE LISTED PRICE
JAN 2021
ABOVE LISTING PRICE
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022
AT LISTING PRICE OR LOWER
↓ 23%
SINGLE-FAMILY HOMES
Brevard County INVENTORY DECREASED WHILE PRICES INCREASED Inventory fell by 16% to begin the year and homes that came available for sale generally did so at higher prices. The average price per square foot for available homes increased by 5% from December.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Brevard County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
ABOVE LISTING PRICE
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022
AT LISTING PRICE OR LOWER
↓ 16%
CONDOMINIUMS
Brevard County YEAR BEGINS AS A SELLER’S MARKET Condominium Inventory remained tight, with active listings decreasing below the 200 unit threshold for the first time since mid-2021. Limited inventory reduced sales activity in January even as the average days on market remained low.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Brevard County SALES BY NEIGHBORHOOD AVG SALES PRICE
PRICE RANGE
AVG SALES PRICE
SOLD ABOVE LISTED PRICE
JAN 2021
ABOVE LISTING PRICE
PRICE PER SF
PRICE PER SF
CLOSED TRANSACTIONS
CLOSED TRANSACTIONS
DAYS ON MARKET
DAYS ON MARKET
AVAILABLE LISTINGS
JAN 2022
AT LISTING PRICE OR LOWER
↓ 15%
Ready for what’s next? Let’s have a conversation. Jennifer Sommers GLOBAL REAL ESTATE ADVISOR
561.888.3115 E jen@agentboca.com W agentboca.com
©2021 ONE Sotheby’s International Realty. All rights reserved. Sotheby’s International Realty® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission. ONE Sotheby’s International Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Sotheby’s International Realty Affiliates LLC nor any of its affiliated companies. The information contained herein is deemed accurate but not guaranteed. Pricing subject to change without notice.
Cell-561.888.3115
Jennifer Susanne Sommers
www.AgentBoca.com