TRENDS
2022 ANNUAL MARKET REPORT
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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 rm and trusted advisor to top public and private real estate operators and capital providers.
THE REAL ESTATE MARKET ALONG FLORIDA’S EAST COAST
Following a record-setting pace in 2021, more than 148,000 single-family homes and condos sold across the east coast of Florida in 2022, a decline of roughly 22%. The drop in sales activity was consistent along the northeast and southeast coastlines. However, sales tallies held up better in some counties, with comparatively smaller declines in Brevard and Nassau counties.
By price range, transactions at the upper tiers generally slowed in comparison to most a ordable homes in the past year. In 2022, 18% fewer single-family homes sold in the $3.5 million to $5 million range and 12% fewer in the $2 million to $3.5 million range. Conversely, sales of homes priced less than $1 million increased from 2021. In some counties, trends were reversed. Sales of higher-priced homes increased in Broward, Nassau and St. Johns counties.
Within the condo segment, sales totals were mixed. Sales of condo units priced above $3.5 million were on par with a strong 2021, while sales of units priced between $500,000 and $1 million increased by 7%. Sales of units priced between $1 million and $3.5 million fell by 11%. Trends varied by geography as well, with the highest-priced tiers recording more sales than the previous year in Broward and Palm Beach counties in southeast Florida and Duval and St. Johns counties in northeast Florida.
AVERAGE SALES PRICE BY COUNTY
FLORIDA’S EAST COAST
SINGLE-FAMILY HOMES CONDOMINIUMS DEC 2021DEC 2022 AUG 2021 AUG 2022
ANNUAL 2022 MARKET REPORT
The median price of transactions closed in 2022 was higher than in 2021, with the median for single-family homes up by 15% and condos 17% higher. Much of the increase in pricing occurred through the summer, with some softening in the second half of the year. Price gains in Clay and Flagler counties paced the northeast coast. At the same time, Palm Beach County singlefamily and Brevard and Martin condos outperformed along the southeast coast.
Buyer demand was resilient in 2022 in the face of headwinds and competition for homes in prime neighborhoods persisted. The average time on market of a sold home in 2022 was 40 days, more than 10 days fewer than in 2021. Time on the market less than 60 days typically indicates a seller’s market. Singlefamily homes sold in less than 35 days, on average. The average condo unit sold in 2022 was listed for less than 47 days, a sharp decline from more than 70 days in 2021.
MEDIAN SALES PRICE
By the end of 2022, slightly more than 33,000 singlefamily homes and condos were listed along the east coast of Florida. Since the close of 2021, single-family home listings have increased by 66% and condo listings by 32%. Despite the surge in listings, the number of available homes remains lower than the historical average. By region, listings increased in southeast Florida and decreased in northeast Florida. Pricing trends for listings varied as well, with the average price of a listed single-family home up by more than 10% in 2022 while the average price of condo listings declined by 3%.
Despite the slower market conditions than the previous year, market activity held up throughout much of the region in 2022. Buyers will adjust to higher mortgage rates and the rebounding equity markets may help fuel cash transactions. A full recovery of international buyers, held back by several factors, including a strong dollar, would boost sales in the coming year.
$445,000 -1%
FLORIDA’S EAST COAST
THE REAL ESTATE MARKET ALONG FLORIDA’S EAST COAST
DEC22CHANGEFROMPRIORYEAR2022YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
MIAMI-DADE COUNTY SINGLE FAMILY HOMES 4,108 70% $560,00012%$990,951 -1% $420 13% 11,605 -22%$45,250,000 CONDOS 6,719 8%$392,75015% $678,657 10% $471 19% 18,082 -18%$23,500,000 BREVARD COUNTY SINGLE FAMILY HOMES 1,736 161% $360,000 16% $433,772 16% $226 19% 9,763 -14% $5,300,000 CONDOS 424 87% $285,000 24% $373,41222%$26822% 1,859 -20%$2,680,000 BROWARD COUNTY SINGLE FAMILY HOMES 3,483 130%$560,000 16% $774,035 15%$351 20% 13,474 -23%$32,500,000 CONDOS 4,083 51% $250,000 16% $361,51522% $269 25% 16,750 -17% $15,400,000 INDIAN RIVER COUNTY SINGLE FAMILY HOMES 775 185%$385,00015%$569,5442% $265 16% 2,557 -25%$20,000,000 CONDOS 305 228%$266,400 16% $401,70618%$264 23% 1,010 -33%$3,620,820 MARTIN COUNTY SINGLE FAMILY HOMES 208 235%$630,00018%$839,631 7% $341 20% 775 -35%$9,000,000 CONDOS 158 690%$285,000 27% $358,5979% $270 25% 533 -30%$3,100,000 PALM BEACH COUNTY SINGLE FAMILY HOMES 3,664 141% $615,000 21% $1,039,418 7% $38322% 12,839 -27% $55,000,000 CONDOS 3,378 115%$295,00022%$463,26715%$254 19% 12,778 -27% $23,750,000 CLAY COUNTY RESIDENTIAL 226 -34% $350,000 19% $374,770 19% $189 21% 3,966 -21%$4,600,000 DUVAL COUNTY RESIDENTIAL 782 -52%$305,00015%$362,520 16% $203 19% 16,593 -27% $6,000,000 FLAGLER COUNTY RESIDENTIAL 263 -56%$372,70018%$451,961 16% $235 20% 4,552 -18%$3,195,000 NASSAU COUNTY RESIDENTIAL 202 -56%$425,990 14% $566,11118% $267 16% 3,788 -15%$13,350,000 ST. JOHNS COUNTY RESIDENTIAL 525 -61%$480,00018% $593,027 19% $28022% 10,004 -21%$12,216,000 FOR SALE MEDIAN SALES PRICE AVG SALES PRICE PRICE PER SF CLOSED TRANSACTIONS HIGHEST SALES ANNUAL 2022 MARKET REPORT
SOLD ABOVE LISTED PRICE
AVAILABLE INVENTORY
↑ 1% ↑ 3% ↑ 4% 0% ↑ 13% ↓ 24% ↓ 8% ↓ 12% ↓ 23% 0% ↓ 2% DEC 2021 DEC 2022 SINGLE-FAMILY HOMES CONDOMINIUMS
EAST COAST ABOVE LISTING PRICEAT LISTING PRICE OR LOWER DEC 2021 DEC 2022
FLORIDA’S
EAST COAST SINGLE- FAMILY HOMES AND CONDOMINIUMS Oct 2022 Nov 2022 Dec 2022
FLORIDA’S
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Miami-Dade County
TIGHT MARKET AND FEWER SALES
Sales dropped by the second-lowest amount in the region. Though inventory increased, the market remains tight.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Miami-Dade County
SALES BY NEIGHBORHOOD
AVAILABLE LISTINGS SOLD ABOVE LISTED PRICE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 <$500,000 $403,633$381,185 6%$300 16% 4,608 -38% 36 $500,000-$999,999 $670,580$680,917 -2%$358 9% 4,776 6% 38 $1MM-$4.99MM $1,989,594$2,032,730 -2% $692 13% 1,981 -21% 53 >$5MM $10,399,878$11,110,381 -6%$1,796 7% 240 -31% 115
MIAMI-DADE COUNTY $990,951$1,003,510 -1% $420 13% 11,605 -22% 41 AVENTURA $2,792,577$1,466,47490% $66850% 26 -60% 71 BAL HARBOUR $24,776,300$4,883,750 407% $3,431 241% 3 -70% 423 BAY HARBOR ISLANDS $4,535,824$3,668,065 24% $1,275 57% 17 -45% 70 COCONUT GROVE $2,520,955$1,978,334 27% $1,141 73% 22 -73% 42 CORAL GABLES $2,810,604$2,186,84829% $82936% 416 -46% 48 FISHER ISLAND N/A N/A N/A N/A N/A - N/A N/A GOLDEN BEACH $9,571,000$6,427,186 49% $1,852 59% 10 -64% 236 INDIAN CREEK N/A $25,216,667 N/A N/A N/A - N/A N/A KEY BISCAYNE $5,181,788$4,137,70925% $1,358 26% 57 -54% 117 MIAMI $756,567 $724,378 4% $378 17% 5,497 -17% 40 MIAMI BEACH $5,470,225$4,926,000 11% $1,351 27% 240 -55% 80 MIAMI SHORES $1,334,629$1,056,824 26% $631 34% 153 -33% 35 NORTH BAY VILLAGE $1,836,149$1,562,62618% $81238% 26 -38% 36 PINECREST $2,991,252$2,166,06638% $700 40% 195 -47% 52 SOUTH MIAMI $1,479,260$1,154,82928% $62436% 102 -34% 43 SUNNY ISLES BEACH $1,924,091$2,222,087 -13% $1,0365% 11 -63% 94 SURFSIDE $2,347,652$1,420,218 65% $1,036 65% 46 -47% 36
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
AVG SALES PRICE DAYS ON MARKET
AVG SALES PRICE PRICE PER SF PRICE PER SF DAYS ON MARKET ABOVE LISTING PRICEAT LISTING PRICE OR LOWER CLOSED TRANSACTIONS CLOSED TRANSACTIONS 4% DEC 2021 DEC 2022 ↓ SINGLE-FAMILY HOMES
PRICE RANGE
Miami-Dade County
CONDOS SELLING FASTER THAN 2021
The average time on the market for units sold in 2022 fell substantially. During the year, roughly 20% of condos sold for more than the list price.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
CONDOMINIUMS
Miami-Dade County
SALES BY NEIGHBORHOOD
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
CLOSED TRANSACTIONS
AVAILABLE LISTINGS
PRICE RANGE DAYS ON MARKET ABOVE LISTING PRICEAT LISTING PRICE OR LOWER
CLOSED TRANSACTIONS 1% DEC 2021 DEC 2022 ↓
<$500,000 $306,023$277,961 10% $321 17% 11,698 -26% 54 $500,000-$999,999 $688,832$696,425 -1% $559 11% 4,084 12% 73 $1MM-$4.99MM $1,874,766$1,903,364 -2%$941 7% 2,071 -9% 103 >$5MM $8,715,281$8,832,446 -1% $2,2186% 229 -12% 178
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
MIAMI-DADE COUNTY $678,657 $616,706 10% $471 19% 18,082 -18% 66 AVENTURA $642,478$527,13122% $368 26% 1,420 -24% 73 BAL HARBOUR $2,449,816$1,823,639 34% $1,066 27% 169 -31% 145 BAY HARBOR ISLANDS $672,468$539,96025% $473 27% 172 -27% 82 BRICKELL/DOWNTOWN MIAMI/EDGEWATER$804,974$626,13529% $608 31% 2,236 -21% 79 COCONUT GROVE $1,262,097$1,354,492 -7% $719 10% 49 -33% 75 CORAL GABLES $778,255$621,98425% $53129% 356 -15% 51 FISHER ISLAND $8,640,000$6,404,54935% $2,44843% 5 -83% 31 GOLDEN BEACH N/A N/A N/A N/A N/A - N/A N/A INDIAN CREEK N/A N/A N/A N/A N/A - N/A N/A KEY BISCAYNE $1,814,641$1,344,26635% $92936% 226 -50% 65 MIAMI $462,647$391,53018% $380 24% 5,247 -17% 49 MIAMI BEACH $963,433$1,083,041 -11% $694 7% 2,802 -11% 90 MIAMI SHORES $300,780$264,691 14% $277 23% 25 -22% 69 NORTH BAY VILLAGE $479,843$329,04246% $35728% 229 -5% 100 PINECREST $484,713$303,36660% $348 27% 56 -43% 37 SOUTH MIAMI $362,028$342,7306% $358 19% 32 -14% 19 SUNNY ISLES BEACH $1,331,352$1,064,91225% $662 24% 1,077 -28% 96 SURFSIDE $2,543,794$2,068,101 23% $1,021 14% 85 -38% 119
AVG SALES PRICE DAYS ON MARKET
SOLD ABOVE LISTED PRICE AVG SALES PRICE PRICE PER SF PRICE PER SF
Broward County
SALES SLOW MODESTLY
While fewer homes sold in 2022, the decrease was one of the smaller drops in the region. At the same time, competition fell with less homes sold at a premium to the list price.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Broward County
SALES BY NEIGHBORHOOD
PRICE RANGE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
SOLD ABOVE LISTED PRICE
AVAILABLE LISTINGS
SINGLE-FAMILY HOMES
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 6% DEC 2021 ↓ DEC 2022
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 BROWARD COUNTY $361,515$297,49522% $269 25% 16,750 -17% 43 COOPER CITY $402,285$335,443 20% $285 20% 67 -36% 17 CORAL SPRINGS $247,635$199,267 24% $208 26% 608 -10% 27 DAVIE $286,066$240,134 19% $221 23% 497 -30% 25 DEERFIELD BEACH $229,862$194,07418% $195 24% 1,161 -7% 32 FORT LAUDERDALE $777,857 $557,54140% $471 38% 2,390 -26% 69 HALLANDALE $376,174$305,059 23% $314 24% 1,214 -18% 63 HILLSBORO BEACH $794,835$628,071 27% $48235% 91 -41% 60 HOLLYWOOD $453,443$373,261 21% $364 31% 1,423 -15% 60 LAUDERDALE-BY-THE-SEA $790,774 $631,40025% $45422% 203 -25% 44 LIGHTHOUSE POINT $230,089$236,831 -3% $194 14% 120 -8% 26 MIRAMAR $330,073 $278,420 19% $257 23% 390 -20% 26 PARKLAND $537,921$415,95729% $31332% 53 -37% 24 PEMBROKE PINES $268,323$222,962 20% $22022% 1,177 -14% 31 PLANTATION $262,314$222,11018% $205 17% 460 -28% 33 POMPANO BEACH $354,864$294,853 20% $277 23% 1,397 -28% 31 SOUTHWEST RANCHES N/A N/A N/A N/A N/A - N/AN/A SUNRISE $218,362$177,356 23% $188 27% 988 -5% 38 WESTON $369,064$299,413 23% $274 22% 249 -31% 29 WILTON MANORS $398,659$317,98525% $304 24% 162 -16% 32
<$500,000 $388,214$367,513 6%$287 17% 5,559 -42% 32 $500,000-$999,999 $686,397$671,390 2%$336 16% 5,918 -2% 27 $1MM-$2.99MM $1,553,991$1,547,193 0%$521 14% 1,735 4% 42 >$3MM $5,774,785 $5,880,754 -2% $971 7% 262 -10% 98 AVG SALES PRICE DAYS ON MARKET
PRICE PER SF CLOSED TRANSACTIONS
Broward County
HIGHEST NUMBER OF TRANSACTIONS IN DECEMBER
While annual sales slowed in 2022, Broward County had the most condominium sales in the region for the month of December. The number of sales priced above $3 million more than doubled in 2022.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Broward County
SALES BY NEIGHBORHOOD
PRICE RANGE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
AVAILABLE
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER
LISTINGS SOLD ABOVE LISTED PRICE
↑4% DEC 2021 DEC 2022 CONDOMINIUMS
AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 BROWARD COUNTY $361,515$297,49522% $269 25% 16,750 -17% 43 COOPER CITY $402,285$335,443 20% $285 20% 67 -36% 17 CORAL SPRINGS $247,635$199,267 24% $208 26% 608 -10% 27 DAVIE $286,066$240,134 19% $221 23% 497 -30% 25 DEERFIELD BEACH $229,862$194,07418% $195 24% 1,161 -7% 32 FORT LAUDERDALE $777,857 $557,54140% $471 38% 2,390 -26% 69 HALLANDALE $376,174$305,059 23% $314 24% 1,214 -18% 63 HILLSBORO BEACH $794,835$628,071 27% $48235% 91 -41% 60 HOLLYWOOD $453,443$373,261 21% $364 31% 1,423 -15% 60 LAUDERDALE-BY-THE-SEA $790,774 $631,40025% $45422% 203 -25% 44 LIGHTHOUSE POINT $230,089$236,831 -3% $194 14% 120 -8% 26 MIRAMAR $330,073 $278,420 19% $257 23% 390 -20% 26 PARKLAND $537,921$415,95729% $31332% 53 -37% 24 PEMBROKE PINES $268,323$222,962 20% $22022% 1,177 -14% 31 PLANTATION $262,314$222,11018% $205 17% 460 -28% 33 POMPANO BEACH $354,864$294,853 20% $277 23% 1,397 -28% 31 SOUTHWEST RANCHES N/A N/A N/A N/A N/A - N/AN/A SUNRISE $218,362$177,356 23% $188 27% 988 -5% 38 WESTON $369,064$299,413 23% $274 22% 249 -31% 29 WILTON MANORS $398,659$317,98525% $304 24% 162 -16% 32
<$500,000 $241,479$217,652 11% $219 17% 14,355 -21% 37 $500,000-$999,999 $666,212$676,609 -2%$453 13% 1,729 16% 56 $1MM-$2.99MM $1,636,357$1,528,921 7% $729 21% 551 -5% 107 >$3MM $4,655,825$3,906,832 19% $1,66068% 115 150% 305 AVG SALES PRICE DAYS ON MARKET
PRICE PER SF CLOSED TRANSACTIONS
Palm Beach County
PRICE LEADER
The median price increase led the southeast Florida region, reaching 21% in 2022. Sales activity in the $1 million to $5 million range were on par with the previous year.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Palm Beach County
SALES BY NEIGHBORHOOD
PRICE RANGE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
AVAILABLE LISTINGS SOLD ABOVE
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER 6% DEC 2021 DEC 2022 ↓
LISTED PRICE
AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 PALM BEACH COUNTY $1,039,418$975,927 7% $38322% 12,839 -27% 33 BOCA RATON $1,268,418$1,154,664 10% $423 24% 2,003 -31% 32 BOYNTON BEACH $580,561$480,170 21% $281 26% 1,922 -10% 26 DELRAY BEACH $1,147,650$1,123,6712% $42225% 1,144 -27% 34 HIGHLAND BEACH $15,325,455$9,378,513 63% $1,62829% 11 -50% 75 JUNO BEACH $2,367,250$1,485,214 59% $781 45% 12 -57% 46 JUPITER $1,376,586$1,233,96212% $49928% 812 -27% 32 JUPITER INLET COLONY $8,786,500$3,641,562 141% $1,90258% 6 -14% 63 LAKE PARK $420,475$347,821 21% $269 30% 48 -16% 34 LAKE WORTH $571,712$465,574 23% $270 23% 1,229 -28% 30 LANTANA $901,948$836,3418% $358 10% 109 -22% 40 NORTH PALM BEACH $2,134,384$2,643,112 -19% $601 7% 120 -39% 38 MANALAPAN $8,303,571$1,150,000-59%$1,764 4% 7 -63%$90 PALM BEACH $15,407,038$11,981,07429%$3,36655% 71 -51% 74 PALM BEACH GARDENS $1,356,055$1,149,95718% $43930% 815 -36% 35 SINGER ISLAND $2,859,615$1,460,78796% $940 75% 13 -61% 17 TEQUESTA $1,716,623$1,462,469 17% $606 19% 63 -26% 33 WELLINGTON $1,244,670$1,058,06218% $405 27% 754 -33% 46 WEST PALM BEACH $750,552$616,39122% $342 26% 1,634 -28% 36
<$500,000 $386,699$366,542 5%$246 16% 4,331 -49% 31 $500,000-$999,999 $691,813 $678,402 2%$326 17% 5,805 -3% 28 $1MM-$4.99MM $1,917,032$1,993,337 -4% $581 11% 2,430 -4% 42 >$5MM $10,974,136$11,444,902 -4% $1,98625% 273 -35% 88 AVG SALES PRICE DAYS ON MARKET
PRICE PER SF CLOSED TRANSACTIONS SINGLE-FAMILY HOMES
Palm Beach County
HIGH-PRICED CONDOS PACE COUNTY
Sales of condos priced greater than $5 million increased in the last year while overall sales were lower. The average price per square foot in the upper-price tier increased by nearly 20%.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Palm Beach County
SALES BY NEIGHBORHOOD
PRICE RANGE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
AVAILABLE LISTINGS SOLD
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER 7% DEC 2021 DEC 2022 ↓
ABOVE LISTED PRICE
AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 PALM BEACH COUNTY $463,267$402,32115% $254 19% 12,778 -27% 32 BOCA RATON $507,503 $489,092 4% $273 11% 2,293 -32% 37 BOYNTON BEACH $308,843$224,19638% $18033% 1,330 -23% 29 DELRAY BEACH $350,778$270,73430% $19925% 1,948 -23% 29 HIGHLAND BEACH $1,200,741$939,50128% $58429% 201 -38% 45 JUNO BEACH $1,024,869$675,70952% $574 58% 86 -48% 27 JUPITER $630,134 $470,765 34% $372 33% 662 -37% 22 JUPITER INLET COLONY N/A N/A N/A N/A N/A - N/AN/A LAKE PARK $266,680$241,612 10% $165-3% 66 29% 30 LAKE WORTH $229,500$180,934 27% $148 25% 717 -18% 31 LANTANA $292,502$264,408 11% $182 14% 112 -18% 31 NORTH PALM BEACH $602,658$561,877 7% $288 6% 278 -33% 35 MANALAPAN N/A N/A N/A N/A N/A - N/AN/A PALM BEACH $2,159,913$1,450,317 49% $923 38% 297 -42% 50 PALM BEACH GARDENS $496,885$395,712 26% $282 27% 619 -33% 24 SINGER ISLAND $1,165,871$1,129,1713% $560 20% 130 -52% 55 TEQUESTA $895,825$414,723116% $484 84% 80 -40% 22 WELLINGTON $467,904$373,98525% $28530% 184 -26% 31 WEST PALM BEACH $318,210$290,515 10% $184 19% 2,182 -26% 32
<$500,000 $256,040$223,737 14% $165 15% 10,102 -30% 30 $500,000-$999,999 $684,322$682,862 0%$406 5% 1,769 -8% 32 $1MM-$4.99MM $1,951,369$1,917,017 2%$865 14% 848 -23% 54 >$5MM $7,928,626$7,593,153 4% $2,080 19% 59 7% 62 AVG SALES PRICE DAYS ON MARKET
PRICE PER SF CLOSED TRANSACTIONS CONDOMINIUMS
Martin County
MEDIAN PRICE FINISHES THE YEAR STRONG
The median price increased by the secondhighest amount in Southeast Florida even as inventory increased.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Martin County
SALES BY NEIGHBORHOOD
PRICE RANGE
SOLD ABOVE LISTED PRICE
AVAILABLE LISTINGS
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 <$500,000 $397,485$364,794 9% $263 21% 244 -55% 25 $500,000-$999,999 $699,661$680,073 3%$312 17% 374 -18% 28 $1MM-$2.99MM $1,518,793$1,684,681 -10% $491 8% 141 -20% 51 >$3MM $4,869,063 $4,738,707 3%$851 20% 16 -47% 108 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 MARTIN COUNTY $839,631$786,654 7% $341 20% 775 -35% 33 HOBE SOUND $615,200$716,408 -14% $294 10% 76 -45% 22 HUTCHINSON ISLAND $2,887,583$2,594,831 11% $661 19% 12 -67% 35 JENSEN BEACH $590,658$513,11015% $306 21% 107 -36% 23 JUPITER ISLAND $2,800,000$1,967,500 -57% $775 -19% 1 -67% 173 PALM CITY 85540743%68585297%25% $338 34% 291 -27% 36 SEWALL'S POINT $1,976,313$1,463,47135% $504 27% 32 -51% 70 STUART $747,713 $714,817 5% $335 19% 250 -35% 33
AVG SALES PRICE DAYS ON MARKET
AVG SALES PRICE PRICE PER SF PRICE PER SF DAYS ON MARKET ABOVE LISTING PRICEAT LISTING PRICE OR LOWER CLOSED TRANSACTIONS CLOSED TRANSACTIONS 0.5% DEC 2021 DEC 2022 ↓ SINGLE-FAMILY HOMES
Martin County
INVENTORY COMES TO MARKET
Inventory increased in 2022, providing potential buyers with more opportunities than in 2021 when the year ended with just 20 units available.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Martin County
SALES BY NEIGHBORHOOD
PRICE RANGE
SOLD ABOVE LISTED PRICE
AVAILABLE LISTINGS
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 <$500,000 $279,915$225,763 24% $23529% 458 -33% 26 $500,000-$999,999 $660,934$654,355 1% $438 16% 60 50% 27 $1MM-$2.99MM $1,441,071$1,743,153 -17% $640 3% 14 -65% 42 >$3MM $3,100,000 N/A N/A $1,015 N/A 1 N/A 5 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 MARTIN COUNTY $358,597$327,6479% $270 25% 533 -30% 26 HOBE SOUND $308,891 $274,857 12% $219 26% 32 -52% 15 HUTCHINSON ISLAND $657,207$632,507 4% $456 26% 98 -24% 30 JENSEN BEACH $346,538$240,268 44% $24536% 66 50% 30 JUPITER ISLAND N/A N/A N/A N/A N/A - N/A N/A PALM CITY $313,634$235,65633% $21645% 44 -15% 19 SEWALL'S POINT N/A N/A N/A N/A N/A - N/A N/A STUART $274,063 $266,7803% $227 19% 292 -38% 27
AVG SALES PRICE DAYS ON MARKET
AVG SALES PRICE PRICE PER SF PRICE PER SF DAYS ON MARKET ABOVE LISTING PRICEAT LISTING PRICE OR LOWER CLOSED TRANSACTIONS CLOSED TRANSACTIONS 8% DEC 2021 DEC 2022 ↓ CONDOMINIUMS
Indian River County
BUYER COMPETITION PERSISTS
More homes sold above the asking price in 2022, with 28% of homes in Indian River County sold at a premium. Homes priced greater than $3 million sold more quickly than in 2021.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Indian River County
PRICE RANGE
ABOVE LISTED PRICE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 <$300,000 $244,111 $234,827 4%$202 21% 645 -53% 47 $300,000-$999,999 $473,761$476,326 -1% $240 10% 1,689 -3% 53 $1MM-$2.99MM $1,725,845$1,688,391 2% $573 20% 198 -18% 72 >$3MM $6,278,972 $5,824,800 8%$1,143 31% 25 -58% 113 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 INDIAN RIVER COUNTY $569,544$556,7242% $265 16% 2,557 -25% 53 BARRIER ISLAND $1,967,841$1,711,61815% $595 34% 240 -52% 67 MAINLAND VERO BEACH $358,587$431,571 20% $23025% 1,281 -30% 61 SEBASTIAN/FELLSMERE $363,491$317,27915% $213 17% 460 -10% 58
AVG SALES PRICE DAYS ON MARKET
SALES BY NEIGHBORHOOD
AVAILABLE LISTINGS SOLD
AVG SALES PRICE PRICE PER SF PRICE PER SF DAYS ON MARKET ABOVE LISTING PRICEAT LISTING PRICE OR LOWER CLOSED TRANSACTIONS CLOSED TRANSACTIONS 2% DEC 2021 DEC 2022 ↓ SINGLE-FAMILY HOMES
Indian River County
SALES DECREASE
Transactions fell by one-third in 2022, the largest decrease in the region. Despite the decline, pricing remains higher than the previous year.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Indian River County
SALES BY NEIGHBORHOOD
PRICE RANGE
SOLD ABOVE LISTED PRICE
AVAILABLE LISTINGS
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 <$300,000 $199,261 $176,270 13% $18125% 594 -41% 50 $300,000-$999,999 $503,402$529,580 -5%$324 4% 356 -19% 49 $1MM-$2.99MM $1,664,828$1,611,031 3%$699 31% 56 -10% 64 >$3MM $3,730,205$3,350,000 11% $1,607 81% 4 100% 11 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 INDIAN RIVER COUNTY $401,706$341,43018% $264 23% 1,010 -33% 50 BARRIER ISLAND $865,909 $657,577 32% $49140% 215 -49% 52 MAINLAND VERO BEACH $258,809$211,086 23% $197 29% 664 -28% 53 SEBASTIAN/FELLSMERE $302,222$240,204 26% $228 27% 41 -46% 50
AVG SALES PRICE DAYS ON MARKET
AVG SALES PRICE PRICE PER SF PRICE PER SF DAYS ON MARKET ABOVE LISTING PRICEAT LISTING PRICE OR LOWER CLOSED TRANSACTIONS CLOSED TRANSACTIONS 6% DEC 2021 DEC 2022 ↓ CONDOMINIUMS
Brevard County
HOMES SELL QUICKLY COMPARED TO REGION
Brevard County led in fewest days it takes to sell a home by the end of 2022, even as the average days on market was 81% higher than in 2021. The median price increased by 16% from the previous year.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY
HOMES
Brevard County
SALES BY NEIGHBORHOOD
PRICE RANGE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
SOLD ABOVE LISTED PRICE
AVAILABLE LISTINGS
SINGLE-FAMILY HOMES
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 2% DEC 2021 ↓ DEC 2022
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 BREVARD COUNTY $433,772$374,994 16% $226 19% 9,763 -14% 20 COCOA $332,433$269,442 23% $20522% 989 -7% 19 COCOA BEACH $941,217$779,555 21% $424 23% 120 -22% 36 GRANT $443,115$539,279-18% $223-5% 147 48% 26 INDIALANTIC $751,841$665,189 13% $34122% 136 -37% 19 MALABAR $580,669$521,939 11% $262 24% 63 -26% 27 MELBOURNE $458,345$401,123 14% $230 19% 2,207 -22% 18 MELBOURNE BEACH $1,239,627$902,630 37% $443 27% 162 -25% 33 MERRITT ISLAND $593,991$485,78822% $270 20% 688 -24% 23 MIMS $380,970$318,633 20% $203 20% 225 9% 19 PALM BAY $330,304$266,929 24% $193 22% 3,104 3% 19 ROCKLEDGE $485,852 $420,439 16% $236 19% 569 -21% 16 SATELLITE BEACH & INDIAN HARBOUR BEACH$671,080$569,82418% $334 24% 301 -26% 17 TITUSVILLE $334,493$269,504 24% $192 23% 835 -18% 22 WEST MELBOURNE $458,711$367,70825% $22632% 131 -63% 16
<$300,000 $244,230$231,195 6%$191 20% 2,708 -50% 19 $300,000-$999,999 $458,974$457,286 0%$230 9% 6,779 19% 19 >$1MM $1,674,477$1,580,942 6% $479 14% 276 5% 38 AVG SALES PRICE DAYS ON MARKET
PRICE PER SF CLOSED TRANSACTIONS
Brevard County
PRICE GAINS HOLD IN 2022
Brevard County produced one of the largest year-over-year price appreciations in the region, with the median price increasing by 24%.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Brevard County
SALES BY NEIGHBORHOOD
PRICE RANGE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
SOLD ABOVE LISTED PRICE
AVAILABLE LISTINGS
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 16% DEC 2021 ↓ DEC 2022
CHANGE2022YOY%CHANGE2022 BREVARD COUNTY $373,412$307,01522% $26822% 1,859 -20% 36 COCOA $302,904$263,11715% $209 16% 97 -6% 23 COCOA BEACH $480,428$396,009 21% $351 23% 333 -21% 26 GRANT N/A N/A N/A N/A N/A - N/A N/A INDIALANTIC $596,654$474,664 26% $371 27% 96 -30% 87 MALABAR N/A N/A N/A N/A N/A - N/A N/A MELBOURNE $275,170$229,298 20% $203 23% 298 -21% 28 MELBOURNE BEACH $700,130$484,15745% $368 37% 71 -1% 62 MERRITT ISLAND $255,062$242,9765% $203 19% 116 -21% 26 MIMS N/A N/A N/A N/A N/A - N/A N/A PALM BAY $186,858$171,6459% $169 17% 60 -35% 23 ROCKLEDGE $242,320$202,056 20% $19022% 114 -19% 12 SATELLITE BEACH & INDIAN HARBOUR BEACH$543,701$451,426 20% $34322% 186 -31% 40 TITUSVILLE $254,900$162,98756% $19035% 190 9% 72 WEST MELBOURNE $206,890$140,000 11% $172 19% 29 -9% 13
20222021YOY%CHANGE2022YOY%
<$300,000 $196,291$174,945 12% $203 17% 995 -32% 21 $300,000-$999,999 $529,195 $499,892 6%$333 13% 809 -1% 52 >$1MM $1,286,277$1,415,031 -9%$486 16% 55 72% 69 AVG SALES PRICE DAYS ON MARKET
PRICE PER SF CLOSED TRANSACTIONS CONDOMINIUMS
St. Johns County
MOST LUXURY HOMES SOLD IN THE REGION
Not only were the most homes priced above $3 million sold in the county, but sales increased from 2021 to 2022 as well.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
St. Johns County
SALES BY NEIGHBORHOOD
PRICE RANGE
SOLD ABOVE LISTED PRICE
AVAILABLE LISTINGS
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 12% DEC 2021 ↓ DEC 2022
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 ST. JOHNS COUNTY $593,027 $498,997 19% $28022% 10,004 -21% 42 JULINGTON CREEK AREA $600,030$480,74825% $234 23% 989 -31% 32 NOCATEE $737,266$599,342 23% $295 23% 758 -16% 32 PONTE VEDRA BEACH $1,199,197$991,068 21% $43632% 653 -29% 39 SOUTHEAST ST JOHNS COUNTY $583,695$490,473 19% $34822% 768 -34% 43 ST. AUGUSTINE BEACHES/ANASTASIA ISLAND$408,408$330,217 24% $238 20% 911 8% 54 ST. JOHNS $559,717$460,781 21% $24325% 989 -12% 41 SOUTHWEST ST JOHNS COUNTY $404,219$344,442 17% $236 23% 307 -37% 38 ST. AUGUSTINE/VILANO BEACH $690,794$526,406 31% $31329% 458 -23% 47 WORLD GOLF VILLAGE AREA/PALENCIA $514,733$445,342 16% $234 23% 1,235 -20% 44 20222021YOY%CHANGE2022YOY%
<$500,000 $368,009$340,230 8%$239 19% 5,404 -38% 44 $500,000-$999,999 $666,284$652,882 2%$29012% 3,809 18% 39 $1MM-$3MM $1,532,460$1,526,338 0%$46712% 730 13% 46 >$3MM $4,710,707 $4,503,770 5%$1,02238% 61 11% 89 AVG SALES PRICE DAYS ON MARKET
CHANGE2022YOY%CHANGE2022
PRICE PER SF CLOSED TRANSACTIONS RESIDENTIAL
Duval County
FEWER AND HIGHER-PRICED HOMES SELL
Annual transaction volume decreased by the largest amount in the region compared with one year ago. The median price per square foot increased by more than 20%.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
Duval County
SALES BY NEIGHBORHOOD
PRICE RANGE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 24% DEC 2021 ↓ DEC 2022
AVAILABLE LISTINGS SOLD ABOVE LISTED PRICE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 DUVAL COUNTY $362,520$312,771 16% $203 19% 16,593 -27% 36 ARLINGTON/FORT CAROLINE $293,915$265,904 11% $182 21% 1,495 -20% 43 AVONDALE/RIVERSIDE/ORTEGA $504,110$428,69118% $268 19% 536 -27% 42 BARTRAM $362,137$306,67818% $20522% 415 -36% 24 BEACHES $752,996$659,378 14% $394 16% 873 -32% 36 BEAUCLERC/MANDARIN $423,668$352,902 20% $210 21% 1,242 -31% 33 DOWNTOWN JACKSONVILLE $157,648$134,754 17% $126 24% 1,605 -15% 43 INTRACOASTAL $577,087$460,28225% $253 23% 1,626 -25% 34 NOCATEE (DUVAL) $413,624$343,758 20% $23222% 181 56% 41 NORTH JACKSONVILLE $339,543$295,79415% $178 19% 1,625 -22% 38 SAN MARCO/SAN JOSE $458,592$374,98522% $224 17% 567 -34% 39 SOUTHSIDE $300,796$255,40018% $194 20% 1,979 -31% 33 WEST JACKSONVILLE $276,406$232,436 19% $174 22% 3,504 -21% 36
<$500,000 $282,851$256,099 10% $184 17% 14,135 -31% 36 $500,000-$999,999 $665,515$654,970 2%$281 8% 2,064 11% 36 $1MM-$3MM $1,464,198$1,544,878 -5%$445 6% 367 8% 54 >$3MM $3,933,898$4,009,048 -2%$834-2% 27 -4% 84 AVG SALES PRICE DAYS ON MARKET
PRICE PER SF CLOSED TRANSACTIONS RESIDENTIAL
Clay County
PRICING AND TIME ON MARKET INCREASE
The average price increased by nearly 20% while homes took longer to sell in 2022. The number of homes sold in the $1 million to $3 million range nearly doubled.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
Clay County
SALES BY NEIGHBORHOOD
SOLD ABOVE LISTED PRICE
AVAILABLE LISTINGS
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 13% AUG 2021 ↓ AUG 2022
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 CLAY COUNTY $374,770 $316,206 19% $189 21% 3,966 -21% 36 FLEMING ISLAND $495,943$408,17422% $209 21% 529 -26% 31 GREEN COVE SPRINGS $374,662$328,159 14% $193 20% 431 -8% 37 MIDDLEBURG/KEYSTONE $355,877$295,909 20% $19122% 985 -21% 37 ORANGE PARK $322,148$273,13518% $182 20% 673 -27% 38 OAKLEAF PLANTATION $364,539$299,47322% $179 23% 714 -22% 38 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 <$500,000 $331,322$292,140 13% $184 20% 3,469 -26% 35 $500,000-$999,999 $626,885$629,567 0%$213 5% 465 53% 36 $1MM-$3MM $1,318,709$1,346,147 -2%$34612% 31 82% 80 >$3MM $4,600,000 N/A N/A $388 N/A 1 N/A 713 AVG SALES PRICE DAYS ON MARKET
PRICE PER SF CLOSED TRANSACTIONS RESIDENTIAL
PRICE RANGE
Nassau County
COMPETITION ABOVE $1 MILLION
Buyer competition persisted throughout much of the county, particularly in homes priced greater than $1 million. The number of sales priced between $1 million and $3 million increased by 17%.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
Nassau County
SALES BY NEIGHBORHOOD AVAILABLE LISTINGS
SOLD ABOVE LISTED PRICE
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 23% DEC 2021 ↓ DEC 2022
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 NASSAU COUNTY $566,111$479,64018% $267 16% 3,788 -15% 40 AMELIA ISLAND/FERNANDINA BEACH $785,141$609,70229% $356 23% 1,231 -29% 40 YULEE/WILDLIGHT $384,482$317,104 21% $194 14% 565 2% 41 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 <$500,000 $361,820$328,590 10% $210 13% 2,394 -25% 39 $500,000-$999,999 $679,551$672,713 1% $310 5% 1,133 8% 41 $1MM-$3MM $1,586,342$1,589,621 0% $573 1% 238 17% 38 >$3MM $5,684,783$4,451,071 28% $978 19% 23 64% 75 AVG SALES PRICE DAYS ON MARKET PRICE
PRICE PER SF CLOSED TRANSACTIONS RESIDENTIAL
RANGE
Flagler County
PRICE GAINS LEAD TO NEW PRICING TIER
After not recording a sale in 2021, several homes priced above the $3 million mark sold in 2022.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
Flagler County
SALES BY NEIGHBORHOOD
AVAILABLE
ABOVE LISTING PRICEAT LISTING PRICE OR LOWER AVG SALES PRICE PRICE PER SF DAYS ON MARKET CLOSED TRANSACTIONS 8% DEC 2021 ↓ DEC 2022
LISTINGS SOLD ABOVE LISTED PRICE
20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 FLAGLER COUNTY $451,961$390,924 16% $235 20% 4,552 -18% 34 BUNNELL $322,030$281,381 14% $188 16% 155 -29% 32 FLAGLER BEACH $579,262$506,184 14% $34722% 183 -38% 42 PALM COAST $449,000$370,588 21% $228 23% 2,556 -21% 34 20222021YOY%CHANGE2022YOY%CHANGE2022YOY%CHANGE2022 <$500,000 $346,123$304,517 14% $205 17% 3,498 -24% 33 $500,000-$999,999 $667,446$671,439 -1% $314 14% 891 12% 37 $1MM-$3MM $1,473,452$1,389,008 6%$43515% 156 -10% 35 >$3MM $3,147,857 N/A N/A $679 N/A 7 N/A 112 AVG SALES PRICE DAYS ON MARKET PRICE RANGE PRICE PER SF CLOSED TRANSACTIONS RESIDENTIAL
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