Q1-2022
Report
Miami Beach/ Barrier Islands, FL Sales
Miami Beach/Barrier Islands
Median Sales Price
Number of Sales
$750K
2,450
$650K
2,050
$550K
1,650
Dashboard
$450K
1,250
YEAR-OVER-YEAR
$350K
850
- 10.4%
$250K
Condo & Single Family
Prices
450 2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Median Sales Price
- 6.4 mos Pace
Months of Supply
+ 33.8% Sales
Closed Sales
- 54.0% Inventory
Total Inventory
- 66 days
Marketing Time Days on Market
- 2.6%
Negotiability Listing Discount
• The pace of the market was the fastest on record as average sales size dropped sharply
• Listing inventory fell by
roughly half of year-ago levels as sales surged
Miami Beach/Barrier Islands Matrix Average Sales Price Median Sales Price
Q1-2022
%∆ (qtr)
Q4-2021
$1,518,287 -2.0% $1,549,943 Miami Beach/Barrier Islands Condo
Average Price Per Sq Ft $550K
%∆ (yr)
Q1-2021
-8.7% $1,662,972 Number of Sales
$984
-0.8%
$992
10.2%
$893 2,300
$600,000
8.1%
$555,000
-10.4%
Number of Sales (Closed) $430K Days on Market (From Last List Date) $370K
1,907
15.4%
1,652
33.8%
$670,000 1,900 1,425 1,500
102
-1.9%
104
-39.3%
Listing Discount (From Last List Price) $310K Listing Inventory $250K Months2013 of Supply 2014 2015
3.9%
Median Sales Price $490K
Year-to-Date Average Sales Price (YTD) Average Price per Sq Ft (YTD) Median Sales Price (YTD) Number of Sales (YTD) Median Sales Price
2,125
0.7% -28.4%
2,967
-54.0%
3.3 2017
-38.9% 2018
Q1-2022
%∆ (qtr)
Q4-2021
%∆ (yr)
Q1-2021
$1,518,287
N/A
N/A
-8.7%
$1,662,972
2016
2019
5.4 2020 -66.0% 2021
168 1,100 6.5% 700 4,618 300 9.7 2022
$984
N/A
N/A
10.2%
$893
$600,000
N/A
N/A
-10.4%
$670,000
1,907
N/A
N/A
33.8%
1,425
Miami Beach/Barrier Islands Single-Family
Number of Sales
$2.8M
300
Listing inventory fell to new lows as sales $2.4M surged and price trend indicators pressed $2.0M Single family median sales price higher. increased 18.9% year over year to a record $1.6M $2,700,000 and was nearly double pre$1.2M pandemic levels. Listing inventory for single $800K dropped 33.1% annually as their families 2013 2014 2015 the 2016 2017 sales declined 30.9% from prior-year quarter. With the decline in sales, months of supply was 4.3 months, the third-fastest on record. As a result, its bidding war market share expanded to 12.4%, the secondhighest on record. Condo market conditions
were generally similar, with rising prices 240 and low listing inventory. Condo’s median 180 sales price increased 5.1% year over year to $536,250, the second-highest on record. 120 Listing inventory dropped 55.7% annually to 60 a new low of 1,893, while sales surged 46.5% to 1,746. With listing inventory falling 0 and 2018 rising, 2019 2020of the2021 sales the pace market 2022 was 3.3 months, 69.2% faster than the same period last year and the fastest pace on record. Condos’ bidding war market share rose to 9.7% from 2.4% in the prior-year quarter.
• Bidding war market share
rose to a new high for the fourth consecutive quarter Prepared by Miller Samuel Real Estate Appraisers & Consultants