LOCAL EXPERTISE WITH A GLOBAL PERSPECTIVE

I’m thrilled to share our annual market report for 2022, offering meaningful insights about the state of the market, comparisons to 2021, and indicators of what we can look forward to in 2023. Florida continued to lead the US residential real estate market, with strong demand and pricing offsetting headwinds from rising interest rates and a shifting global economic landscape. Our state is growing both economically and demographically, which has resulted in record-high prices for single-family homes and condos.

ONE Sotheby’s International Realty continued to build upon our unparalleled network and further position our brand as the preeminent source for luxury real estate across Florida’s entire east coast. In 2022, we experienced tremendous growth and expanded to new markets, including Jacksonville, St. Augustine, Palm Coast, Ponte Vedra Beach, Amelia Island, and Brevard County - with acquisitions that included First Coast Sotheby’s International Realty and SunCoast Real Estate Group in Brevard. We also opened our new headquarters in Coconut Grove and an office in Cocoa Village. Our exceptional agents broke numerous price records and continued to elevate the real estate experience. At the same time, our Development Division launched some of the area’s most prestigious projects, including St. Regis Residences Miami, Pier 66 Fort Lauderdale, and The Village at Coral Gables. Our team and technology received industry-wide accolades including being voted the Best Luxury Brokerage in Florida by Luxury Lifestyle Magazine and Best Brokerage Website by South Florida Agent Magazine, as well as recognitions from RIS Media, Florida Trend, and South Florida Business Journal. We hosted our largest ONE Summit on record, with over a thousand agents from our global Sotheby’s International Realty’s network who flew in from around the world.

I am incredibly proud of what our team accomplished in 2022. We navigated a quickly changing market and continued to build our footprint and capabilities. Despite the expectation that rates will fluctuate in 2023, all the data we have points to resiliency in buyer demand and limited supply in Florida, which is a recipe for pricing to remain strong. As our market remains the focus of global attention, I look forward to what we will achieve together in 2023.

Daniel de la Vega President

ONE Sotheby’s International Realty

ABOUT TRENDS:

ONE Sotheby’s International Realty presents the only market report focused on Florida’s East Coast. From Miami to Amelia Island, 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.