TRENDS
TODAY’S REAL ESTATE ALONG FLORIDA’S EAST COAST
2023 QUARTER 2 MARKET REPORT
FEATURED PROPERTY: 311 ATLANTIC AVE, SUNNY ISLES BEACH
LOCAL EXPERTISE WITH A GLOBAL PERSPECTIVE
Our Q2 TRENDS report offers a comprehensive look at the latest real estate trends, inventory levels, pricing patterns and more. Covering luxury residential properties above $1 million from Miami-Dade to Palm Beach County, and properties above $500,000 from Martin to Nassau County, our second quarter market report provides you with the data and analysis necessary to stay informed.
Florida’s East Coast housing sector stands strong, defying the national trend of a slowing market. During Q2, we witnessed remarkable price gains in Palm Beach, Indian River, Duval, and Flagler counties. Martin and Indian River counties experienced notable increases in sales, reflecting the market’s vitality. Although Miami-Dade and Broward counties saw a drop in sales and pricing, the areas still outperformed the national housing market due to sustained high demand and growth.
As we continue to excel along Florida’s East Coast, ONE Sotheby’s International Realty strengthened its presence in Brickell with the addition of Podium Group to our incredible network. This strategic acquisition solidifies our commitment to serving clients in one of South Florida’s most vibrant neighborhoods, ensuring superior service for our valued clients.
We proudly celebrated the accomplishments of our exceptional sales associates and teams, who continue to reach new heights. A remarkable 90 of them secured coveted spots on America’s Best list for 2023, honoring the finest real estate professionals from across the country. Our top producers were also recognized in The Thousand Rankings, a testament to their expertise and dedication.
Finally, we are thrilled to announce that ONE Sotheby’s International Realty has been honored as a 2023 RealTrends GameChanger. This prestigious accolade acknowledges our remarkable growth rate of 203% over the past five years. Our unwavering commitment to innovation and evolution within the real estate industry remains our inspiration as we deliver exceptional service and outstanding results to our esteemed associates and valued clients.
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.
Market data for residential properties above $1M for Miami-Dade County to Palm Beach County and properties above $500K for Martin County to Nassau County.
Daniel de la Vega President ONE Sotheby’s International Realty
CONTENTS 06 12 18 08 14 19 10 16 20 21 22 Miami-Dade County Martin County St. Johns County Broward County Indian River County Duval County Palm Beach County Brevard County Clay County Nassau County Flagler County
Sales Gallery Now Open | Priced from $3.85M 2406 SE 17th Street, Fort Lauderdale, FL 33316 (954) 393-0537 Residences@PierSixtySix.com PierSixtySixResidences.com Own the Waterfront Discover a curated collection of 91 condominium residences overlooking Fort Lauderdale’s legendary marina and Intracoastal waterways. Obtain the Property Report required by Federal Law and read it before signing anything. No Federal or State agency has endorsed or judged the merits of value, if any, of this property. This is not an offer to sell or solicitation to buy real estate in any jurisdiction where prohibited by law. Products and availability are subject to change without notice. Improvements, facilities and programs may be in formative stages and cannot be guaranteed. Artist renderings are for illustrative purposes only and may differ from completed products.
Situated within a luxurious residential enclave, The Village at Coral Gables features forty-eight distinctive homes which include Sophisticated Condominium Residences, Glamorous Townhomes, Expansive Lofts, and Private Villas. Developed by MG Developer, The Village at Coral Gables is a once-in-a-generation offering of residences in Miami’s most coveted neighborhood. IN THE HEART OF CORAL GABLES A BESPOKE COLLECTION OF NEW CONSTRUCTION RESIDENCES Residences Priced From $2M SCHEDULE A PRIVATE PREVIEW thevillageatcoralgables.com | sales@thevillageatcoralgables.com | 786.833.6398 2990 Ponce de Leon Blvd Suite 101, Coral Gables, Florida 33134 @THEVILLAGEATCORALGABLES Follow Us ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE 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. This is not intended to be an offer to sell, or solicitation of an offer to buy, condominium units to residents of CT, ID, NY, NJ and OR, unless registered or exemptions are available, or in any other jurisdiction where prohibited by law, and your eligibility for purchase will depend upon your state of residency. This offering is made only by the prospectus for the condominium and no statement should be relied upon if not made in the prospectus. The Developer (as is defined herein below) reserves the right to revise or modify, in its sole and absolute discretion, any or all improvements, designs and construction specifications depicted and all terms, conditions and statements made. All of the drawings, rendering, and photographs provided by Developer are conceptual only and are for the convenience of illustrating a proposed development; said drawings, renderings and photographs should not be relied upon as representations, express or implied, of the final detail of the residences. All depictions of appliances, fixtures, counters, soffits, wall coverings, floor coverings, furnishings, closets, and other matters of detail, including, without limitation, items of finish and decoration, are conceptual only and are not necessarily the final finishes and details included with the purchase of a Unit. Consult your Purchase Agreement and the Prospectus for information on what is included with Unit purchases. The photographs contained in these materials and other brochures may be stock photography, or may have been taken off-site and are used to depict the spirit of the lifestyles to be achieved rather than any that may exist or that may be proposed, and the photographs are merely intended as illustrations of the activities and concepts depicted therein. No statements or representations have been made by Developer, or any of its agents, employees or representatives with respect to any potential for future profit, any future appreciation in value, investment opportunity potential, any rental income potential, the ability or willingness of Developer, or its affiliates, to assist any buyer in financing, renting (other than the existence of a voluntary rental program) or selling the Unit (except only in response to a direct inquiry from buyer), the economic or tax benefits to be derived from the managerial efforts of a third party as a result of renting the Unit or other units, or the economic or tax benefits to be derived from ownership of the Unit. The Developer, its agents, employees, and representatives are neither investment advisors nor tax advisors and any statement that may have been made should not be relied upon in your decision to purchase. Certain nearby attractions referenced or identified in these materials are off-site and not controlled by the Developer. The references to nearby attractions are based upon public information sources and are believed to be accurate as of the date of these materials or publication; however, there is no guarantee that such attractions will continue to exist, or that there would not be changes and/or substitutions of any of the same. The managing entities, operators, amenities and other features that may be referred to are accurate as of the date of these materials or publication; however, there is no guarantee that the managing entities, operators, amenities and other features that may be referred to will be involved at, or following, the completion of the Condominium. The Developer reserves the right to change any and all such managing entities, operators, amenities and other features that may be referred to as the Developer deems best for the Condominium in the Developer’s sole and absolute discretion. Dimensions and square footage of the Units are approximate and may vary with actual construction. The Condominium is being developed by Gables Village Propco LLC, a Delaware limited liability company (“Developer”). You will look solely to Developer with respect to any and all matters relating to the sales, marketing, and development of the Condominium or your purchase of a Unit in the Condominium. No real estate broker is authorized to make any representations or other statements regarding the project, and no agreements with, deposits paid to or other arrangements made with any real estate broker are or shall be binding on the Developer. All prices are subject to change at any time and without notice, and do not include optional features or premiums for upgraded units. From time to time, price changes may have occurred that are not yet reflected on these materials or other brochures. Please check with the Developer for the most current pricing. Concierge services that may be described are available to Unit owners who pay additional fees. Consult the Prospectus for the site plan and the location of the Unit you desire. Unless otherwise noted, this content is owned by Developer and the unauthorized reproduction, display or other dissemination of these or other materials is strictly prohibited and constitutes copyright infringement. Unless otherwise defined, capitalized terms used herein shall have the meanings ascribed to them in the Prospectus.
FLORIDA’S EAST COAST SNAPSHOT
SINGLE- FAMILY HOMES *ALL RESIDENTIAL PROPERTIES MEDIAN SALES PRICE BY COUNTY CONDOMINIUMS Q2 2022 Q2 2O23 Q2 2022 Q2 2023 JUN 23 CHANGE FROM PRIOR MONTH Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 MIAMI-DADE COUNTY SINGLE FAMILY HOMES 1,537 -4% $1,645,000 -9% $2,461,126 -18% $688 1% 655 -10% $27,500,000 CONDOS 1,864 -4% $1,567,500 -2% $2,420,294 -2% $903 2% 514 -39% $25,000,000 BREVARD COUNTY SINGLE FAMILY HOMES 487 12% $665,000 1% $797,984 -1% $281 -1% 687 -9% $4,300,000 CONDOS 157 1% $655,000 0% $737,267 0% $403 2% 108 -33% $2,214,210 BROWARD COUNTY SINGLE FAMILY HOMES 1,107 6% $1,400,000 -6% $1,958,293 -7% $455 -9% 541 -24% $17,000,000 CONDOS 411 2% $1,500,000 -10% $1,843,821 -17% $713 -6% 159 -29% $13,250,000 INDIAN RIVER COUNTY SINGLE FAMILY HOMES 384 6% $775,000 2% $1,135,938 -13% $329 3% 307 30% $8,600,000 CONDOS 91 5% $795,000 6% $1,092,576 2% $450 -1% 83 6% $3,945,000 MARTIN COUNTY SINGLE FAMILY HOMES 170 1% $750,000 -2% $1,061,700 2% $332 2% 178 7% $5,350,000 CONDOS 26 -24% $665,000 -17% $923,886 -1% $452 -11% 37 61% $3,400,000 PALM BEACH COUNTY SINGLE FAMILY HOMES 1,523 -3% $1,700,000 0% $2,775,255 -6% $565 4% 895 -9% $27,489,375 CONDOS 485 -9% $1,825,000 11% $2,285,504 -2% $878 4% 318 -8% $18,000,000 CLAY COUNTY RESIDENTIAL 58 -43% $617,500 2% $690,322 1% $220 5% 116 -32% $2,700,000 DUVAL COUNTY RESIDENTIAL 218 -1% $685,000 7% $859,606 8% $295 10% 671 -20% $3,900,000 FLAGLER COUNTY RESIDENTIAL 152 -16% $675,000 4% $889,025 15% $314 -1% 333 4% $5,525,000 NASSAU COUNTY RESIDENTIAL 129 13% $715,000 1% $869,178 -9% $336 11% 387 -13% $4,450,000 ST. JOHNS COUNTY RESIDENTIAL 498 0% $694,900 1% $854,980 -4% $291 2% 1,327 -8% $16,250,000 FOR SALE MEDIAN SALES PRICE AVG SALES PRICE PRICE PER SF CLOSED TRANSACTIONS HIGHEST SALES
MARKET DATA FOR RESIDENTIAL PROPERTIES ABOVE $1M FOR MIAMI-DADE COUNTY TO PALM BEACH COUNTY AND PROPERTIES ABOVE $500K FOR MARTIN COUNTY TO NASSAU COUNTY.
MIAMI-DADE COUNTY
SINGLE-FAMILY HOMES | COMPETITION INCREASES
The median sales price decreased 9% compared to last year. However, the share of homes sold at a premium increased to 9%, the highest share in roughly a year.
Neighborhood Snapshots
MARKET DATA FOR SINGLE-FAMILY HOMES, $1,000,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE. 1.6M 84 1,537 655 688 MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↓ 9 % ↑ 54% ↑ 1% ↓ 10 % ↑ 8%
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 AVENTURA $2,525,000 $2,262,500 12% $660 43% 6 50% 58 BAL HARBOUR N/A $23,250,000 N/A N/A N/A - N/A N/A BAY HARBOR ISLANDS $4,203,750 $3,700,000 31% $1,139 10% 4 -43% 89 COCONUT GROVE $2,100,000 $1,819,000 15% $953 -16% 9 13% 110 CORAL GABLES $1,900,000 $2,125,000 -11% $823 2% 99 -2% 77 GOLDEN BEACH $4,200,000 $5,755,000 14% $1,240 -12% 3 -25% 91 INDIAN CREEK N/A N/A N/A N/A N/A - N/A N/A KEY BISCAYNE $3,750,000 $4,090,888 -8% $1,202 -3% 11 -35% 84 MIAMI $1,400,000 $1,450,000 -3% $574 6% 165 -20% 77 MIAMI BEACH $3,000,000 $4,190,000 -28% $1,082 -16% 54 -25% 114 MIAMI SHORES $1,375,000 $1,800,000 -24% $673 -15% 27 -7% 57 NORTH BAY VILLAGE $1,187,500 $3,575,000 -67% $672 -60% 2 -50% 123 PINECREST $2,322,500 $2,550,000 -9% $728 7% 64 0% 75 SOUTH MIAMI $1,250,000 $1,460,000 -14% $607 -12% 13 -32% 60 SUNNY ISLES BEACH $1,350,000 $2,400,000 -46% $920 52% 3 -40% 125 SURFSIDE $1,320,000 $1,500,000 -12% $809 -12% 11 -42% 96
$ $
MIAMI-DADE COUNTY
CONDOMINIUMS | SALES VELOCITY DECLINES
The number of sales slowed by 39% from last year, and condo units spent, on average, more than 115 days on the market, up from last year.
Neighborhood Snapshots
903 MEDIAN
AVERAGE
ACTIVE
MEDIAN PPSF ↓ 2 %
↑ 2 % ↓
1.6M 115 1,864 514
SALES PRICE
DAYS ON MARKET
LISTINGS SOLD LISTINGS
↑ 11%
39% ↑ 7%
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 AVENTURA $1,450,000 $1,630,000 -11% $564 -5% 42 -32% 131 BAL HARBOUR $2,875,000 $3,000,000 -4% $1,230 -5% 28 -20% 109 BAY HARBOR ISLANDS $1,375,000 $1,200,000 15% $593 -10% 4 -69% 104 BRICKELL/DOWNTOWN MIAMI/EDGEWATER $1,331,250 $1,402,000 -5% $809 2% 90 -35% 109 COCONUT GROVE $1,900,000 $1,395,000 36% $1,347 116% 7 -13% 85 CORAL GABLES $2,600,000 $1,520,000 71% $875 37% 11 -58% 130 FISHER ISLAND $3,600,000 $9,400,000 -48% $1,312 -23% 1 -75% 275 KEY BISCAYNE $1,982,500 $1,625,000 22% $968 5% 44 -15% 99 MIAMI $1,400,000 $1,297,500 8% $913 8% 45 -44% 173 MIAMI BEACH $1,600,000 $1,800,000 -11% $1,124 -8% 110 -45% 114 MIAMI SHORES N/A N/A N/A N/A N/A - N/A N/A NORTH BAY VILLAGE $1,000,000 $1,250,000 -27% $525 -4% 1 -67% 80 SUNNY ISLES BEACH $1,745,000 $1,750,000 0% $890 -1% 86 -42% 113 SURFSIDE $1,700,000 $1,213,782 40% $1,069 18% 3 -40% 44
$
*ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
$
MARKET DATA FOR CONDOMINIUMS, $1,000,000+
BROWARD COUNTY
SINGLE-FAMILY HOMES | PRICING AND SALES DECREASE
Sales volume decreased by 24% from a year ago and the median price was off by more than 6%. Active listings and average days on market increased compared to last year.
Neighborhood Snapshots
1.4M 74 1,107 541 455 MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↓ 6% ↑ 86% ↓ 9% ↓ 24% ↑ 31%
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 COOPER CITY $1,250,000 $1,217,500 3% $404 12% 9 -10% 56 CORAL SPRINGS $1,212,500 $1,255,000 -3% $319 -6% 12 -33% 49 DAVIE $1,475,000 $1,500,000 -2% $373 -11% 51 -19% 105 DEERFIELD BEACH $1,750,000 $1,199,500 46% $711 13% 13 117% 101 FORT LAUDERDALE $1,942,500 $2,000,000 -3% $704 -4% 138 -28% 85 HALLANDALE $7,575,000 $3,825,000 98% $1,155 12% 2 -50% 167 HILLSBORO BEACH N/A N/A N/A N/A N/A N/A 0% N/A HOLLYWOOD $1,400,000 $1,550,000 -10% $526 -17% 33 6% 87 LAUDERDALE-BY-THE-SEA $1,325,000 $1,730,000 -23% $807 19% 3 -70% 76 LIGHTHOUSE POINT $2,150,000 $1,920,000 12% $663 -1% 27 -18% 56 MIRAMAR $1,120,000 $1,180,000 -5% $319 3% 12 -25% 71 PARKLAND $1,335,000 $1,380,000 -3% $371 -5% 96 -7% 54 PEMBROKE PINES $1,100,000 $1,100,000 0% $317 -11% 5 -74% 39 PLANTATION $1,312,000 $1,442,500 -9% $334 -20% 20 -33% 38 POMPANO BEACH $1,412,500 $1,472,500 -4% $666 -10% 24 -54% 98 SOUTHWEST RANCHES $1,947,500 $1,825,000 7% $504 5% 14 -42% 63 SUNRISE N/A N/A N/A N/A N/A N/A 0% N/A WESTON $1,198,500 $1,395,000 -14% $381 -5% 58 -28% 60 WILTON MANORS $1,206,250 $1,388,000 -13% $651 -1% 12 9% 67
$ $ MARKET DATA FOR SINGLE-FAMILY HOMES, $1,000,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
BROWARD COUNTY
CONDOMINIUMS | LOWER PRICES
The median price remained consistent from Q1, yet it has decreased by 10% from a year ago. Compared with last year, sales were off by nearly 30%.
$ $
713 MEDIAN PPSF
Neighborhood Snapshots
SALES PRICE ↓ 10% ↓ 47% ↓ 6% ↓ 29%
↑ 44%
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 DEERFIELD BEACH $1,323,500 $1,300,000 2% $1,054 46% 2 -50% 4 FORT LAUDERDALE $1,500,000 $1,800,000 -17% $719 -7% 98 -31% 63 HALLANDALE $1,225,000 $1,600,000 -23% $779 -5% 15 0% 90 HILLSBORO BEACH $1,775,000 $1,525,000 56% $723 39% 6 20% 39 HOLLYWOOD $1,617,500 $1,530,400 6% $691 -10% 16 -54% 118 LAUDERDALE-BY-THE-SEA $1,517,500 $1,553,000 -2% $605 13% 12 20% 71 LIGHTHOUSE POINT N/A N/A N/A N/A N/A N/A N/A N/A WILTON MANORS N/A $1,050,000 N/A N/A N/A - N/A N/A WILTON MANORS N/A N/A N/A N/A N/A - N/A N/A
MARKET DATA FOR
*ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
CONDOMINIUMS, $1,000,000+
MEDIAN
1.5M 71 411 159 AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS
PALM BEACH COUNTY
SINGLE-FAMILY HOMES | PRICES RECOVERING
The median price increased during the last several months, bringing the second quarter median price on par with one year ago. While sales remained lower than last year, volume trended higher in recent months.
Neighborhood Snapshots
MEDIAN
AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF 0 % ↑ 86% ↑ 4 % ↓ 9 % ↑ 22%
1.7M 73 1,523 895 565
SALES PRICE
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 BOCA RATON $1,750,000 $1,700,000 3% $546 9% 211 -9% 73 BOYNTON BEACH $1,255,000 $1,299,500 -3% $428 -3% 58 16% 62 DELRAY BEACH $1,845,000 $1,762,500 5% $578 8% 129 -7% 56 HIGHLAND BEACH N/A $11,787,500 N/A N/A N/A - N/A N/A JUNO BEACH $2,225,000 $1,900,000 -3% $888 -12% 11 120% 97 JUPITER $1,800,000 $1,725,000 4% $609 4% 137 9% 80 JUPITER INLET COLONY $13,197,500 $4,699,000 47% $2,224 28% 2 0% 11 LAKE PARK N/A N/A N/A N/A N/A - N/A N/A LAKE WORTH $1,175,000 $1,210,000 -3% $382 1% 11 -54% 64 LANTANA $4,200,000 $3,495,000 20% $992 0% 5 -38% 124 NORTH PALM BEACH $3,697,500 $3,137,500 18% $1,072 45% 22 57% 70 MANALAPAN N/A $5,400,000 N/A N/A N/A - N/A N/A PALM BEACH $9,250,000 $14,625,000 -37% $2,809 -24% 18 -47% 149 PALM BEACH GARDENS $1,699,500 $1,615,000 5% $514 4% 130 19% 63 SINGER ISLAND $1,750,000 $1,250,000 40% $639 6% 5 150% 25 TEQUESTA $1,450,000 $3,097,500 -53% $583 -39% 8 -20% 50 WELLINGTON $1,925,000 $1,700,000 13% $599 12% 49 -41% 87 WEST PALM BEACH $1,750,000 $1,725,000 1% $677 -6% 57 -37% 108
$ $ MARKET DATA
*ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
FOR SINGLE-FAMILY HOMES, $1,000,000+
PALM BEACH COUNTY
CONDOMINIUMS | MEDIAN PRICE INCREASES
The median price increased by 11% in the second quarter, one of the strongest gains in the region.
Neighborhood Snapshots
MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↑ 11% ↑ 44% ↑ 4% ↓ 8% ↑ 41%
1.8M 67 485 318 878
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 BOCA RATON $1,377,500 $1,600,000 -14% $813 -6% 64 -14% 73 BOYNTON BEACH $1,125,000 $1,440,000 -11% $683 17% 3 50% 77 DELRAY BEACH $1,675,000 $1,540,000 9% $778 1% 37 19% 88 HIGHLAND BEACH $1,817,500 $1,472,000 23% $787 12% 15 -56% 90 JUNO BEACH $1,567,500 $2,400,000 -35% $867 1% 10 43% 64 JUPITER $1,825,000 $1,955,000 -7% $878 3% 23 15% 59 JUPITER INLET COLONY N/A N/A N/A N/A N/A - N/A N/A LAKE PARK N/A N/A N/A N/A N/A - N/A N/A LAKE WORTH N/A N/A N/A N/A N/A - N/A N/A LANTANA N/A $1,400,000 N/A N/A N/A - N/A N/A NORTH PALM BEACH $2,625,000 $1,572,800 67% $1,141 96% 7 -36% 54 MANALAPAN $4,000,000 $2,275,000 NA $1,598 NA 1 NA 27 PALM BEACH $2,340,000 $2,700,000 -13% $1,149 -11% 45 -31% 68 PALM BEACH GARDENS $1,525,000 $1,787,500 -15% $506 -32% 6 -50% 46 SINGER ISLAND $1,518,750 $1,387,500 9% $713 -4% 16 0% 115 TEQUESTA $2,368,750 $2,100,000 13% $1,266 9% 4 -56% 101 WELLINGTON $1,274,500 $1,450,000 -12% $584 19% 8 60% 32 WEST PALM BEACH $2,184,425 $1,375,000 59% $1,120 31% 58 66% 47
$ $ MARKET DATA FOR CONDOMINIUMS,
*ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
$1,000,000+
MARTIN COUNTY
SINGLE-FAMILY HOMES | SALES ACCELERATE
The number of sales increased by 7% compared with a year ago. However, the time on the market increased to roughly 52 days on average.
Neighborhood Snapshots
750K
MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↓ 2% ↑ 58% ↑ 2% ↑ 7 % ↑ 29%
52 170 178 332
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 HOBE SOUND $637,500 $629,900 1% $305 2% 20 82% 44 HUTCHINSON ISLAND $2,775,000 $990,000 180% $686 78% 8 60% 108 JENSEN BEACH $670,000 $575,000 17% $301 -2% 31 82% 49 JUPITER ISLAND $9,836,800 $5,500,000 79% $2,137 -34% 6 100% 138 PALM CITY $810,000 $885,000 -8% $319 1% 311 125% 51 SEWALL'S POINT $857,500 $1,212,500 -29% $406 8% 12 -14% 43 STUART $698,500 $699,000 0% $357 7% 60 22% 41
$ $ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE. MARKET DATA FOR SINGLE-FAMILY HOMES, $500,000+
FOR CONDOMINIUMS, $500,000+
CONDOMINIUMS | SALES UP FROM LAST YEAR
MEDIAN SALES PRICE AVERAGE DAYS ON MARKET
452 ↑ 30 %
$ $ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
Condo sales increased by 61% compared with last year, though few units sold above the list price during the second quarter. MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 HOBE SOUND N/A N/A N/A N/A N/A - N/A N/A HUTCHINSON ISLAND $620,000 $774,500 -20% $465 -10% 28 40% 55 JENSEN BEACH $1,100,000 N/A N/A $367 N/A 1 N/A 225 JUPITER ISLAND N/A N/A N/A N/A N/A - N/A N/A PALM CITY $1,199,000 $898,000 26% $491 12% 1 0% 124 SEWALL'S POINT N/A N/A N/A N/A N/A - N/A N/A STUART $890,000 $1,150,000 -23% $441 4% 7 600% 36
LISTINGS SOLD LISTINGS
ACTIVE
MEDIAN PPSF ↓ 17
665K 58 26 37 ↑ 132% ↓ 11% ↑ 61%
%
Neighborhood Snapshots
MARTIN COUNTY
MARKET DATA
INDIAN RIVER COUNTY
SINGLE-FAMILY HOMES | SALES INCREASE, COMPETITION GROWS
In the second quarter, sales increased by 30% compared with one year ago. Competition accelerated, with 6% of homes sold above the list price during the second quarter.
Neighborhood Snapshots
775K 87 384 307 329 MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↑ 2 % ↑ 87% ↑ 3 % ↑ 30 % ↑ 78%
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 BARRIER ISLAND $1,337,000 $1,805,000 -26% $467 -29% 108 37% 102 MAINLAND VERO BEACH $625,000 $612,500 2% $266 0% 121 10% 90 SEBASTIAN/FELLSMERE $684,450 $589,500 16% $339 23% 11 -21% 95
$ $ MARKET DATA FOR SINGLE-FAMILY HOMES, $500,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
INDIAN RIVER COUNTY
CONDOMINIUMS | SALES AND PRICE INCREASE
Sales of condos increased by more than 6% from the same quarter last year. The median price also increased by roughly 6%.
Neighborhood Snapshots
795K 86 91 83 450 MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↑ 6 % ↑ 106% ↓ 1% ↑ 6% ↑ 40%
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 BARRIER ISLAND $912,500 $800,000 14% $476 1% 60 -2% 89 MAINLAND VERO BEACH $642,500 $610,000 5% $310 -6% 1 -20% 2 SEBASTIAN/FELLSMERE $590,000 N/A N/A $391 N/A 1 N/A 129
$ $ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE. MARKET DATA FOR CONDOMINIUMS, $500,000+
BREVARD COUNTY
SINGLE-FAMILY HOMES | PRICING TRENDS HIGHER
The median price increased slightly from last year, one of the few counties in the region where home prices moved higher. Approximately 17% of homes sold during the second quarter closed above the list price.
Neighborhood Snapshots
665K 36 487 687 281 MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↑ 1% ↑ 96 % ↓ 1% ↓ 9% ↑ 18%
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 COCOA $655,000 $645,000 2% $258 -5% 18 -28% 34 COCOA BEACH $810,000 $769,900 5% $504 16% 23 -41% 40 GRANT $710,000 $615,000 15% $307 3% 7 -13% 38 INDIALANTIC $772,500 $750,000 3% $317 -9% 42 2% 36 MALABAR $560,000 $575,000 -3% $261 4% 16 23% 49 MELBOURNE $653,000 $640,000 2% $268 1% 240 12% 28 MELBOURNE BEACH $885,000 $1,000,000 -12% $405 4% 43 -25% 42 MERRITT ISLAND $660,000 $647,000 2% $273 2% 103 -6% 48 MIMS $602,500 $624,500 -4% $266 6% 8 -43% 29 PALM BAY $595,000 $567,250 5% $228 8% 21 -38% 24 ROCKLEDGE $605,000 $695,000 -13% $277 -4% 57 -10% 39 SATELLITE BEACH & INDIAN HARBOUR BEACH $710,000 $670,000 6% $337 -3% 68 -4% 38 TITUSVILLE $580,000 $593,000 -2% $200 -12% 19 -47% 48 WEST MELBOURNE $600,000 $580,000 3% $230 -2% 11 -48% 27
$ $ MARKET DATA FOR SINGLE-FAMILY
PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
HOMES, $500,000+ *ALL
BREVARD COUNTY
CONDOMINIUMS | SLOW SALES ACTIVITY
Sales activity remained slow, with aggregate sales off by one-third compared with last year. Very few homes sold for more than the asking price during the second quarter.
Neighborhood Snapshots
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 COCOA $703,500 $737,500 -5% $289 -19% 3 -50% 75 COCOA BEACH $637,450 $637,500 0% $399 -9% 28 -36% 38 INDIALANTIC $755,000 $752,500 0% $426 -1% 13 -7% 61 MELBOURNE $1,374,605 $651,900 111% $360 18% 2 -94% 245 MELBOURNE BEACH $617,250 $835,000 -26% $380 -8% 8 -33% 73 MERRITT ISLAND $528,000 $525,000 1% $256 0% 5 400% 35 PALM BAY $500,000 $560,000 -11% $232 0% 1 0% 52 SATELLITE BEACH & INDIAN HARBOUR BEACH $900,000 $710,000 27% $450 3% 35 13% 49 TITUSVILLE $552,000 $930,000 -41% $268 -5% 4 100% 70 WEST MELBOURNE N/A N/A N/A N/A N/A - N/A N/A
655K 54 157 108 403 MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF 0 % ↑ 23% ↑ 2 % ↓ 33% ↑ 40% $ $ MARKET DATA FOR CONDOMINIUMS, $500,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
ALL RESIDENTIAL | MOST SALES IN THE REGION
Though the pace of sales fell from last year, St. Johns County continued to produce the highest number of transactions in the region. The median price increased by 1%.
$ $
694K 74
MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ↓ 60 %
↑ 1% ↑ 141%
ACTIVE LISTINGS
LISTINGS
MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
SOLD
498 1,327 MEDIAN PPSF
291 ↑ 2 % ↓ 8 %
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 JULINGTON CREEK AREA $695,000 $693,500 0% $241 1% 62 -24% 72 NOCATEE $745,000 $740,080 1% $326 7% 56 -13% 79 PONTE VEDRA BEACH $1,375,000 $1,040,000 32% $435 9% 54 -9% 84 SOUTHEAST ST JOHNS COUNTY $633,750 $685,000 -7% $380 0% 36 -13% 71 ST AUGUSTINE BEACHES/ANASTASIA ISLAND $629,950 $595,000 6% $330 10% 16 7% 35 ST JOHNS $601,900 $588,000 2% $250 -3% 74 21% 95 SOUTHWEST ST JOHNS COUNTY $585,750 $603,600 -3% $270 -8% 2 -80% 66 ST AUGUSTINE/VILANO BEACH $667,000 $787,250 -15% $325 4% 22 -31% 56 WORLD GOLF VILLAGE AREA/PALENCIA $625,250 $650,000 -4% $233 -6% 76 38% 70
Neighborhood Snapshots
ST. JOHNS COUNTY
DUVAL COUNTY
ALL RESIDENTIAL | STRONG PRICE GAIN
The median price increased by more than 7% from last year, the largest increase in the region.
Neighborhood Snapshots
685K
MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↑ 7 % ↑ 121% ↑ 1 0 % ↓ 20% ↓ 63 %
66 218 671 295
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 ARLINGTON/FORT CAROLINE $657,500 $649,900 1% $215 1% 6 -45% 65 AVONDALE/RIVERSIDE/ORTEGA $735,750 $632,500 16% $309 8% 22 29% 51 BARTRAM $607,500 $540,000 13% $189 -4% 3 -73% 46 BEACHES $829,725 $798,000 4% $437 1% 58 -2% 46 BEAUCLERC/MANDARIN $580,000 $590,000 -2% $205 -4% 25 9% 87 DOWNTOWN JACKSONVILLE $525,000 $ NA 3% $244 56% 1 0% 1 INTRACOASTAL $700,000 $634,832 10% $289 3% 69 -20% 56 NOCATEE (DUVAL) $505,000 $500,000 -6% $212 6% 1 0% 70 NORTH JACKSONVILLE $580,000 $565,000 3% $231 21% 5 -50% 46 SAN MARCO/SAN JOSE $904,500 $889,000 2% $302 8% 16 45% 70 SOUTHSIDE $689,900 $570,000 21% $236 3% 15 -38% 44 WEST JACKSONVILLE $657,000 $600,000 10% $248 -7% 4 -20% 49
$ $ MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
CLAY COUNTY
ALL RESIDENTIAL | PRICING UP
The median price of homes greater than $500,000 increased by more than 2% compared with last year.
Neighborhood Snapshots
617K 54 58 116 220 MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↑ 2 % ↑ 57% ↑ 5 % ↓ 32% ↓ 59 %
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 FLEMING ISLAND $685,000 $612,500 12% $239 7% 15 -38% 32 GREEN COVE SPRINGS $743,900 $642,500 16% $241 2% 13 13% 21 MIDDLEBURG/KEYSTONE $615,000 $617,263 0% $221 8% 13 63% 53 ORANGE PARK $699,000 $643,500 -17% $193 -32% 3 50% 76 OAKLEAF PLANTATION $616,750 $607,500 2% $174 -8% 4 -60% 39
$ $ MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
NASSAU COUNTY
ALL RESIDENTIAL | MEDIAN PRICE TRENDS HIGHER
The median price increased by 1% compared with the second quarter of last year. Roughly 16% of homes sold above the list price, one of the highest shares in the region.
Neighborhood Snapshots
715K 59 129 387 336 MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↑ 1% ↑ 84% ↑ 11% ↓ 13% ↓ 59 %
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 AMELIA ISLAND/FERNANDINA BEACH $739,500 $718,000 3% $351 -2% 80 -14% 53 YULEE/WILDLIGHT $539,500 $638,912 -16% $204 -26% 6 50% 77
$ $ MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
FLAGLER COUNTY
ALL RESIDENTIAL | HIGHEST SALES INCREASE
Sales volume of homes priced greater than $500,000 increased by 4% compared with last year, the only county in the region where transactions exceeded last year.
Neighborhood Snapshots
675K
MEDIAN SALES PRICE AVERAGE DAYS ON MARKET ACTIVE LISTINGS SOLD LISTINGS MEDIAN PPSF ↑ 4 % ↑ 103 % ↓ 1% ↑ 4% ↓ 8 %
58 152 333 314
MEDIAN SALES PRICE MEDIAN PRICE PER SF CLOSED SALES AVERAGE DAYS ON MARKET Q2 23 Q2 22 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 YOY% CHANGE Q2 23 BUNNELL $1,085,000 $529,000 99% $362 57% 1 0% 172 FLAGLER BEACH $775,000 $745,000 4% $366 0% 8 -13% 43 PALM COAST $752,500 $630,000 19% $378 14% 27 70% 56
$ $ MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+ *ALL PERCENTAGES REFLECT YEAR OVER YEAR CHANGE.
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