The Tansey Report Q1 2022 - Miami Beach

The Tansey Report The Industry-Leading Report on Miami Beach Real Estate

Q1 | 2022

RECENTLY SOLD BY DARIN TANSEY

The Ritz-Carlton Villas | 9 Sold

$53,350,000

45 E. Dilido Drive

$15,775,000

4701 Meridian Avenue, #PH01

4701 N Meridian Ave, #PH 21 + 24

35 E Dilido Drive

4701 N Meridian Ave, #107

1000 Biscayne Blvd, #1601

$6,350,000

3009 Pine Tree Drive

$5,960,000

4701 N Meridian Ave, #LPH-24

4701 N Meridian Ave, #421

5777 Pine Tree Drive

5699 Pine Tree Drive

$12,700,000

$4,500,000

$8,500,000

$4,400,000

$15,000,000

$4,000,000

Record-breaking results paired with a distinctive client experience The best thing about Miami, my clients tell me, is that it is so close to the United States! Miami is one of the best places in the world to live in. You can find diverse cultures, infinite sunny beaches, towering skylines, international economy & commerce, delectable cuisines, shopping for the most exquisite of tastes, and a glamorous night scene. Owning real estate in Miami is a luxury, so whether it’s residential or commercial property that you’re looking for, you’re on the right page.

I specialize in the most exclusive properties in Miami Beach and its surrounding areas. Whether you’re looking for a luxury waterfront home, a condo with an incredible view, or vacant land to build your own masterpiece, guiding you to make an investment on your new lifestyle is my priority.

$15,000,000

$3,950,000

Miami Beach

SINGLE-FAMILY HOME S AND C OND OS Q1 | 2022

TOTAL SALES (CLOSED)

TOTAL INVENTORY

1,907

2,125

28.4% vs.

Q4 2021

MONTH’S SUPPLY

54.0% vs.

2021

15.4% vs.

Q4 2021

38.9% vs.

Q4 2021

33.8% vs.

2021

AVG. SALE PRICE

102

1.9% vs.

Q4 2021

8.70% vs.

2021

Miami Beach / Barrier Islands

Median Sales Price

66.0% vs.

2021

AVG. DAYS ON MARKET

$1,518,287 2.0% vs.

Q4 2021

3.3

39.3% vs.

2021

Number of Sales

$750K

2,450

$650K

2,050

$550K

1,650

$450K

1,250

$350K

850

$250K

450 2013

DARINTANSEY.COM

2014

2015

2016

2017

2018

2019

2020

2021

2022

305.987.1530

Executive Director of Luxury Sales 305.987.1530 darin.tansey@elliman.com Douglas Elliman Miami Beach 1111 Lincoln Road #805 Miami Beach, FL 33139

Q1 | By The Numbers

1907 $1,518,827 +33.8%

TRANSACTIONS

Listing inventory fell to new lows as sales surged and price trend indicators pressed higher. Single family median sales price increased 18.9% year over year to a record $2,700,000 and was nearly double prepandemic levels. Listing inventory for single families dropped 33.1% annually as their sales declined 30.9% from the 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 second-highest on record.

Condo market conditions were generally

DARINTANSEY.COM

CLOSED SALES YEAR-OVER-YEAR

AVG. SALE PRICE

similar, with rising prices and low listing inventory. Condo’s median sales price increased 5.1% year over year to $536,250, the second-highest on record. Listing inventory dropped 55.7% annually to a new low of 1,893, while sales surged 46.5% to 1,746. With listing inventory falling and sales rising, the pace of the market 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 quarter.

305.987.1530