ALEXA ROSARIO L U X U RY MARKET REPORT
FORT LAUDERDALE MIAMI B O C A R AT O N M AY 2 0 2 1
ALEXA ROSARIO
REALTOR®, Institute for Luxury Home Marketing Member Keller Williams Central
954.557.6642
info@alexarosario www.AlexaRosario.com Fun fact: my name means servant of humanity. Maybe that’s why I’ve always been so passionate about helping people reach their goals. I’ve been in South Florida since 2008 and have been selling real estate since 2013. As a community activist, I leverage my relationships on behalf of my clients to bring a concierge level experience to the real estate relationship. I’ve curated a network of professionals across all industries to deliver high end services so you benefit from the community of experts and professionals I’ve built for you. When representing clients, they benefit from my social media presence and agent relationships to help achieve their goals. At the end of the day, I’m in the business of creating forever clients and friends while also helping you build your family’s generational wealth through real estate. Community Involvement and Leadership • Keller Williams Central Agent Leadership Council (2019-2020) • Junior League Member & Former Committee Chair • Tower Club Member & Emerging Executives Committee Chair • Fort Lauderdale Chamber of Commerce Member & Government Affairs Council Member • Founder of BNI Luxury • Institute for Luxury Home Marketing Member • Founder of the Agent Anticlass Series Seen In • Yahoo Finance • VoyageMIA • Fort Lauderdale Beach Media • TheMortgageReports • Lifestyle Magazine • South Florida Business & Wealth
TABLE OF CONTENTS PAGE 4
LUXURY REPORT EXPLAINED
PAGE 5
WELCOME MESSAGE
PAGE 6-9
NORTH AMERICAN LUXURY MARKET REVIEW
PAGE 10
13 MONTH MARKET TRENDS
PAGE 11
SINGLE FAMILY HOMES MONTHLY OVERVIEW
PAGE 12
ATTACHED HOMES MONTHLY OVERVIEW
PAGE 13-16 MONTHLY STATISTICS BY CITY - Single Family Homes PAGE 17-20 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 21
GREATER FORT LAUDERDALE LUXURY MARKET REVIEW
PAGE 26
MIAMI LUXURY MARKET REVIEW
PAGE 31
BOCA RATON & DELRAY BEACH LUXURY MARKET REVIEW
PAGE 36
THANK YOU
– LUXURY REPORT EXPLAINED – The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report. Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well. Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point. By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher. A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
REPORT GLOSSARY REMAINING INVENTORY: The total number of homes available at the close of a month. DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted. LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes. NEW LISTINGS: The number of homes that entered the market during the current month. PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot. SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory. SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
THIS IS YOUR
LUXURY MARKET REPORT
MAP OF LUXURY RESIDENTIAL MARKETS
W
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report
provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
Copyright © 2021 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.
NORTH AMERICAN LUXURY REVIEW A Tale of Three Very Different Spring Markets for Luxury Real Estate This time last year, just over one month after the official announcement of a Covid-19 pandemic in North America, and the luxury real estate market found itself at a standstill. Worries of a crash similar to 2008 were at the forefront of every conversation. One year on and, while many businesses and industries have suffered as a result of the pandemic and despite the many changes to the way we live, work, and socialize, the luxury real estate market has flourished in ways that were unimageable back in April 2020. Not only did it flourish, but expectations are that the luxury market will continue to grow in 2021, as affluent buyers still look for ways to upgrade or relocate their primary residence, searching for less dense communities, larger properties, more amenities, and access to outdoor space. Inventory levels in many luxury markets did not reach their typical levels in the spring of 2020 due to the standstill, but while the number of properties listed has increased comparatively this spring, statistical analysis shows that many are 30-50% below their 10-year averages. Overall, based on the data collected from over 100 luxury markets in North America, the comparative numbers for single-family homes over the last three years confirms this dramatic decrease in inventory. Comparing April 2021 against the same period in 2020 and 2019 there is a decrease of 39.65% and 37.93% respectively. Looking at 3 very different local luxury markets, we start with Miami, Florida. This market typically reports a high level of luxury inventory – as listings are rarely removed from the market until they
sell. Miami’s comparative April 2021 numbers for single-family homes show a staggering 47.90% drop in properties listed for sale compared to April 2020, and a 53.15% drop compared to 2019! Moving west, East Bay, California, another market that reported a high turnover of luxury properties, shows similar numbers. April 2021’s inventory for single-family homes decreased by 34% compared to April 2020 and 56% against 2019! In Canada, Vancouver, similar to many luxury markets across North America, began to show a strong uptick in demand and sales the last months of 2020 and first quarter of 2021. These results created seller confidence and March saw a significant increase in properties entering the market, but by early April 2020 this market too had come to standstill. Look deeper into Vancouver’s real estate statistics for April 2021 and their luxury market is once again booming. While April’s inventory for single-family homes stayed on par with listings, due to the aforementioned upsurge in March 2020, it saw a 32% decrease against April 2019’s numbers. Turning to the number of sales during April 2021, and the growth of the luxury real estate market in North America is further endorsed as statistics show a 69% increase in sales compared to April 2020, but even more dramatic is the significant 86% increase against April 2019. Drilling down again into these three unique markets; Miami sales for single-family homes show an unprecedented rise, a 526.32% increase against April 2020 and 352% increase against April 2019. Miami is traditionally a very international real estate market, but unexpectedly in the last 12 months the uptake has been from national buyers — particularly buyers from the Northeast and California, who have been the largest driving forces behind this demand. In East Bay, the statistics reflect the relocation from the higher priced San Francisco to this secondary market — this occurred mainly due to local employers allowing employees to work from
home — offering both opportunity and an enticement to those looking to lower their cost of living. Single-family homes sales in April 2021 rose a staggering 379% against April 2020 and also impressive 67% against 2019. In Vancouver, the numbers show how significantly the pandemic bought the market to a standstill, as April 2020 sales were 60% less than the sales reported in April 2019. Whereas April 2021 reported a 52% increase against April 2019. Also, for the first time in many years, homes valued upwards of $15 million (US) are selling again, and interestingly much of Vancouver’s luxury real estate growth was also due to domestic buyers, rather than international investors. These substantial changes to inventory levels and number of sales consolidate the growth of the luxury real estate market, and many ask if this growth is sustainable. While numbers may increase and decrease over the next coming months, many experts believe that the overall trend for a strong market will continue well into 2021. Low interest rates coupled with profits in the stock market as well as people having amassed large amounts of personal savings during the last year, means that there is a lot of money still available to invest in real estate. It’s important to remember that this growth has for the most part been driven without any help from foreign buyers or investors – so when international travel and immigration resumes, this could well create a second boom in the North American property market. In particular, communities that have handled the pandemic well will very likely be targeted for their future investment potential, both as a safe haven but also in the expectation of further price increases. There are also millennials (aged 25-39 in 2021), who now are commanding a larger representation in the luxury real estate market. Many are using the opportunity of snagging a low-interest mortgage. A new generation of affluent, who have benefitted from being in a COVID growth industry such as
high tech, gaming, or pharmaceutical, has also arisen. While others have seen their stock portfolio grow. Finally, let’s not forget that baby boomers have already started to transfer a portion of their wealth, estimated $68 trillion, to this generation. These younger affluent are often bypassing the traditional first home of a city condo, and instead purchasing single-family homes, especially if they have children and are able to work from home, which is also putting a further upward pressure on this segment of the market. Equally, baby boomers have affected home purchases as many have switched gears due to pandemic-related health concerns of living in densely populated areas. Previous trends had seen this demographic, typically empty nesters (aged 50 - 70), moving back into urban luxury condominiums to enjoy a lifestyle full of city amenities. Many have elected to skip this transitional stage, instead buying their ultimate retirement property now, purchasing in secondary or resort communities. Typically, the answer to high demand is to build new homes that meet the current requirements, and for the most part it seems that home builders and new developers are rising to the challenge. Existing new developments are also reacting to this demand and early signs are that plans are being re-developed and adjusted to match the demand for more outdoor areas, private space, as well as amenities such as air-filtration and touchless technology. Finally, looking forward to 2021 it is expected that local governments will be looking to issue more building permits to meet the luxury residential demand in their markets. The art of selling and buying in this market needs a critical and analytical approach, understanding the realities and setting expectations accordingly will ensure that goals are achieved. For homeowners looking to sell their luxury home in today’s market, we recommend working with a Realtor who can capitalize on the preferences of current investors.
– 13 - MONTH MARKET TRENDS – FOR THE LUXURY NORTH AMERICAN MARKET
Single-Family Homes
Attached Homes
Single-Family List Price
Attached List Price
All data is based off median values. Median prices represent properties priced above respective city benchmark prices.
40
34
36
34
32
33
30
31
33
37
32
28
33
30
26
37
34
35
30
19
APR
MAY
JUN
JUL
10
23
20
AUG
SEP
OCT
NOV
DEC
JAN
FEB
20
MAR
APR
$600
$513 $405
$402
$481
$494 $388
$379
$486
$494 $383
$372
$482
$500 $379
$379
$463
$465 $365
$472
$489 $371
$300
$338
$353
$400
$448
$500
$459
PRICE PER SQUARE FOOT
39
30
0
$200
$100
$0
SALES PRICE VS. LIST PRICE
39
33
$342
DAYS ON MARKET
60
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
$1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
Discrepancies in previous month statistics between the May 2021 and April 2021 reports are due to the addition of Sonoma County, CA.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Year over Year April 2020 | April 2021
SINGLE-FAMILY HOMES April 2020
April 2021
April 2020
April 2021
46,413
26,640
Median List Price
$1,586,500 $1,767,500
Total Inventory
Median Sale Price
$1,328,750 $1,406,250
New Listings
8,678
12,356
Total Sold
6,134
19,687
33
10
3,765
3,416
Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
96.97%
100.00%
13.22%
73.90%
$342
$405
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
3,678
13,553
New Listings
Total Sold
23
61%
Med. Sale Price
Days on Market
Sales Ratio
77,500
$
SINGLE-FAMILY HOMES MARKET SUMMARY | APRIL 2021 •
Official Market Type: Seller's Market with a 73.90% Sales Ratio.1
•
Homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,406,250.
•
Markets with the Highest Median Sales Price: Los Angeles Beach Cities ($4,110,444), Naples ($4,100,000), Vail ($3,900,000), and Palm Beach Towns ($3,897,500).
•
Markets with the Highest Sales Ratio: East Bay (368%), GTA-Durham (257%), Ada County (244%) and Austin (226%). 1
Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Year over Year April 2020 | April 2021
ATTACHED HOMES April 2020
April 2021
April 2020
April 2021
16,686
12,238
Median List Price
$984,500 $1,090,000
Total Inventory
Median Sale Price
$876,875
$910,000
New Listings
2,753
4,526
98.26%
100.00%
Total Sold
1,891
6,077
11.33%
49.66%
30
20
$459
$513
2,027
1,932
Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
1,773
4,186
New Listings
Total Sold
33,125
$
Med. Sale Price
10
Days on Market
38% Sales Ratio
ATTACHED HOMES MARKET SUMMARY | APRIL 2021 •
Official Market Type: Seller's Market with a 49.66% Sales Ratio.1
•
Attached homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $910,000.
•
Markets with the Highest Median Sales Price: Vail ($3,155,000), San Francisco ($2,375,000), Park City ($2,066,644), and Greater Boston ($2,044,500).
•
Markets with the Highest Sales Ratio: Ada County (400%), GTA-Durham (258%), East Bay (245%) and Ventura County (215%). 1
Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$1,195,000
$999,995
543
354
259
21
Seller's
AZ
Paradise Valley
$4,695,000
$3,200,000
121
42
63
45
Seller's
AZ
Phoenix
$1,049,450
$791,000
246
146
305
26
Seller's
AZ
Scottsdale
$2,500,000
$1,650,000
316
123
262
32
Seller's
AZ
Tucson
$849,000
$666,000
325
119
292
6
Seller's
BC
Greater Victoria
$2,400,000
$2,034,000
89
54
8
19
Buyer's
BC
Okanagan Valley
$1,787,000
$1,400,000
348
201
151
21
Seller's
BC
Vancouver
$4,880,000
$3,000,000
829
415
161
9
Balanced
CA
Central Coast
$3,922,500
$2,500,000
152
65
99
9
Seller's
CA
East Bay
$2,499,500
$1,925,000
185
167
680
7
Seller's
CA
Lake Tahoe
$1,785,000
$1,500,000
28
13
28
9
Seller's
CA
Los Angeles Beach Cities
$5,500,000
$4,110,444
345
116
120
15
Seller's
CA
Los Angeles City
$5,250,000
$3,550,000
734
252
209
28
Seller's
CA
Los Angeles The Valley
$2,999,999
$2,325,000
291
165
265
14
Seller's
CA
Marin County
$3,995,000
$3,550,000
63
18
14
4
Seller's
CA
Napa County
$3,472,500
N/A
88
14
0
N/A
Buyer's
CA
Orange County
$3,499,999
$2,300,000
595
208
544
12
Seller's
CA
Palm Springs/Palm Desert
$2,795,000
$1,557,500
153
58
176
34
Seller's
CA
Placer County
$1,145,000
$957,500
169
53
102
6
Seller's
CA
Sacramento
$875,000
$801,650
427
120
374
6
Seller's
CA
San Diego
$3,145,000
$1,820,000
429
180
587
7
Seller's
CA
San Francisco
$5,100,000
$3,510,000
104
32
106
10
Seller's
CA
San Luis Obispo County
$1,950,000
$1,330,000
120
55
81
N/A
Seller's
CA
Santa Barbara
$4,495,000
$3,080,000
145
56
88
11
Seller's
CA
Silicon Valley
$5,499,444
$3,102,000
292
168
461
7
Seller's
CA
Sonoma County
$2,472,500
$1,732,500
202
58
86
34
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CA
Ventura County
$2,812,000
$1,787,500
150
77
156
22
Seller's
CO
Boulder
$2,525,000
$1,775,000
126
56
121
40
Seller's
CO
Colorado Springs
$1,249,000
$865,000
109
69
109
4
Seller's
CO
Denver
$1,499,900
$1,020,000
337
260
638
4
Seller's
CO
Douglas County
$1,745,000
$1,115,000
90
65
172
5
Seller's
CO
Durango
$1,799,500
$1,212,500
64
25
18
74
Seller's
CO
Summit County
$3,172,500
$1,900,000
18
6
16
4
Seller's
CO
Vail
$6,500,000
$3,900,000
67
11
15
162
Seller's
CT
Central Connecticut
$678,000
$642,500
310
100
136
42
Seller's
CT
Coastal Connecticut
$2,295,000
$1,552,000
737
281
264
49
Seller's
DC
Washington D.C.
$3,999,700
$2,640,000
56
23
23
7
Seller's
FL
Boca Raton/Delray Beach
$2,950,000
$1,900,000
220
92
117
21
Seller's
FL
Coastal Pinellas
$1,594,500
$1,458,500
18
12
32
14
Seller's
FL
Greater Fort Lauderdale
$1,700,000
$1,057,500
665
262
402
24
Seller's
FL
Jacksonville Beaches
$1,570,000
$1,360,000
108
60
87
18
Seller's
FL
Lee County
$1,599,000
$1,406,250
225
92
166
32
Seller's
FL
Miami
$1,585,000
$1,200,000
707
241
300
51
Seller's
FL
Naples
$5,050,000
$4,100,000
90
33
84
42
Seller's
FL
Orlando
$1,667,500
$1,462,500
234
91
130
38
Seller's
FL
Palm Beach Towns
$4,500,000
$3,897,500
112
57
76
29
Seller's
FL
Sarasota & Beaches
$1,750,000
$1,500,000
87
45
109
6
Seller's
FL
South Walton
$2,575,000
$2,095,000
139
68
85
7
Seller's
FL
Tampa
$869,000
$692,000
275
127
322
6
Seller's
FL
Weston
$1,956,450
$945,000
36
10
42
15
Seller's
GA
Atlanta
$1,350,000
$1,015,000
650
292
389
6
Seller's
HI
Island of Hawaii
$2,100,000
$2,001,500
69
27
42
31
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
HI
Kauai
$2,650,000
$1,862,500
85
22
18
18
Seller's
HI
Maui
$4,300,000
$2,460,000
119
26
45
75
Seller's
HI
Oahu
$3,800,000
$2,500,000
158
36
43
28
Seller's
ID
Ada County
$839,995
$750,000
98
86
239
4
Seller's
ID
Northern
$1,249,500
$865,000
166
89
113
55
Seller's
IL
Chicago
$1,549,000
$1,200,000
757
304
412
24
Seller's
IL
DuPage County
$1,201,250
$922,500
338
148
166
25
Seller's
IL
Lake County
$1,199,436
$899,000
332
124
127
41
Seller's
IL
Will County
$789,900
$600,000
137
48
88
7
Seller's
IN
Hamilton County
$1,100,000
$720,000
69
33
102
3
Seller's
MA
Greater Boston
$3,950,000
$2,540,000
115
55
82
36
Seller's
MD
Anne Arundel County
$1,101,450
$900,000
142
61
125
6
Seller's
MD
Montgomery County
$2,099,999
$1,567,500
137
74
144
6
Seller's
MD
Talbot County
$2,645,000
$1,419,000
42
6
15
45
Seller's
MD
Worcester County
$1,350,000
$845,000
33
10
13
19
Seller's
MI
Livingston County
$774,999
$685,000
51
25
13
9
Seller's
MI
Monroe County
$772,900
$574,950
12
2
6
153
Seller's
MI
Oakland County
$849,900
$625,000
519
255
289
11
Seller's
MI
Washtenaw County
$949,000
$850,484
108
48
50
6
Seller's
MI
Wayne County
$799,000
$630,000
165
76
97
8
Seller's
MO
Kansas City
$719,000
$656,325
396
149
282
4
Seller's
MO
St. Louis
$922,000
$781,950
114
63
78
6
Seller's
NC
Charlotte
$1,149,400
$825,000
334
162
393
3
Seller's
NC
Raleigh-Durham
$875,000
$675,000
300
154
465
2
Seller's
NJ
Ocean County
$945,000
$770,000
244
122
169
21
Seller's
NV
Lake Tahoe
$4,299,000
$2,350,000
37
14
2
229
Buyer's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NV
Las Vegas
$945,000
$725,000
637
326
609
9
Seller's
NV
Reno
$1,900,000
$1,425,000
43
21
43
47
Seller's
NY
Brooklyn
$1,699,000
$1,417,500
291
65
24
171
Buyer's
NY
Nassau County
$1,875,000
$1,425,000
893
285
163
77
Balanced
NY
Suffolk County
$1,554,500
$1,150,000
926
263
204
80
Seller's
ON
GTA - Durham
$1,499,000
$1,240,000
145
208
372
6
Seller's
ON
GTA - York
$2,399,000
$1,850,000
564
504
399
9
Seller's
ON
Oakville
$3,193,500
$2,489,900
98
68
18
10
Balanced
ON
Toronto
$3,650,000
$2,980,000
304
259
201
6
Seller's
TN
Nashville
$1,399,900
$982,590
229
116
350
3
Seller's
TX
Austin
$1,249,999
$865,000
245
211
553
5
Seller's
TX
Collin County
$860,000
$720,000
191
144
355
4
Seller's
TX
Dallas
$1,099,000
$875,000
272
152
273
7
Seller's
TX
Denton County
$800,000
$725,000
145
77
270
4
Seller's
TX
Fort Worth
$1,150,000
$787,500
215
130
304
4
Seller's
TX
Houston
$869,500
$749,500
1,478
632
520
19
Seller's
TX
San Antonio
$949,000
$730,000
181
65
133
33
Seller's
TX
The Woodlands & Spring
$1,124,750
$712,500
169
96
164
9
Seller's
UT
Park City
$4,847,500
$3,300,000
82
19
57
5
Seller's
UT
Salt Lake City
$1,349,000
$965,075
107
57
140
6
Seller's
VA
Arlington & Alexandria
$1,999,000
$1,709,000
71
39
38
5
Seller's
VA
Fairfax County
$2,310,000
$1,495,000
283
132
183
5
Seller's
VA
McLean & Vienna
$2,800,000
$1,652,415
137
54
80
6
Seller's
VA
Richmond
$850,000
$791,000
141
49
115
7
Seller's
WA
Greater Seattle
$1,808,500
$1,620,000
617
371
781
5
Seller's
WA
Seattle
$1,942,000
$1,751,250
130
87
190
6
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$1,013,000
$788,000
113
43
12
27
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$800,000
$675,000
117
48
153
31
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Greater Victoria
$999,000
$820,000
122
53
13
25
Buyer's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,950,000
$1,676,500
803
428
328
8
Seller's
CA
Central Coast
$1,295,000
$1,075,000
11
10
21
10
Seller's
CA
East Bay
$1,050,000
$1,020,000
73
58
179
7
Seller's
CA
Lake Tahoe
$1,785,000
$1,096,275
20
4
16
6
Seller's
CA
Los Angeles Beach Cities
$1,795,000
$1,679,000
160
60
81
9
Seller's
CA
Los Angeles City
$1,750,000
$1,400,000
381
132
92
24
Seller's
CA
Los Angeles The Valley
$839,250
$799,500
46
31
92
10
Seller's
CA
Marin County
$1,247,000
N/A
18
4
0
N/A
Buyer's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,250,000
$935,000
155
90
299
8
Seller's
CA
Palm Springs/Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,250,000
$890,000
238
109
332
8
Seller's
CA
San Francisco
$3,000,000
$2,375,000
109
31
53
12
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,812,500
$1,625,000
10
8
18
12
Seller's
CA
Silicon Valley
$1,699,000
$1,550,000
57
35
120
7
Seller's
CA
Sonoma County
$749,000
$715,000
9
3
9
24
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CA
Ventura County
$899,900
$660,247
13
5
28
21
Seller's
CO
Boulder
$1,010,000
$937,382
50
19
38
36
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
CO
Denver
$825,000
$650,000
208
101
164
6
Seller's
CO
Douglas County
$559,000
$537,500
2
1
4
14
Seller's
CO
Durango
$849,000
$609,000
9
2
2
91
Seller's
CO
Summit County
$1,250,000
$1,250,000
5
3
5
6
Seller's
CO
Vail
$5,145,000
$3,155,000
72
7
20
45
Seller's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$997,500
$612,500
186
46
61
95
Seller's
DC
Washington D.C.
$1,999,900
$1,555,000
183
62
95
6
Seller's
FL
Boca Raton/Delray Beach
$1,325,000
$750,000
214
51
103
44
Seller's
FL
Coastal Pinellas
$1,250,000
$850,000
43
29
67
10
Seller's
FL
Greater Fort Lauderdale
$890,000
$800,000
810
164
193
70
Seller's
FL
Jacksonville Beaches
$1,244,500
$930,000
22
13
25
45
Seller's
FL
Lee County
$838,900
$800,000
98
31
123
35
Seller's
FL
Miami
$1,090,000
$1,100,000
2,002
370
293
182
Buyer's
FL
Naples
$2,145,000
$1,575,000
94
26
124
32
Seller's
FL
Orlando
$799,500
$687,500
66
30
28
10
Seller's
FL
Sarasota & Beaches
$1,987,000
$1,495,000
152
75
127
9
Seller's
FL
South Walton
$1,275,000
$1,318,500
107
20
38
9
Seller's
FL
Tampa
$1,087,450
$599,950
48
23
66
9
Seller's
FL
Palm Beach Towns
$1,890,000
$1,655,000
127
40
101
72
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$685,000
$599,000
461
177
185
24
Seller's
HI
Island of Hawaii
$3,387,500
$1,406,500
28
11
32
48
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
HI
Kauai
$2,997,000
$1,174,500
47
10
18
38
Seller's
HI
Maui
$2,395,000
$1,700,000
64
13
52
88
Seller's
HI
Oahu
$1,565,000
$1,050,000
282
51
65
26
Seller's
ID
Ada County
$609,900
$553,450
6
7
24
4
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,150,000
$937,500
855
300
264
28
Seller's
IL
DuPage County
$750,000
$685,000
51
23
19
23
Seller's
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
MA
Greater Boston
$2,598,750
$2,044,500
312
102
80
33
Seller's
MD
Anne Arundel County
$599,000
$565,000
39
21
31
6
Seller's
MD
Montgomery County
$730,429
$744,000
164
70
100
7
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$749,000
$654,900
47
16
69
8
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$810,000
$560,000
54
17
21
50
Seller's
MI
Washtenaw County
$669,500
$565,000
49
19
13
9
Seller's
MI
Wayne County
$699,000
$583,437
56
13
13
8
Seller's
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$764,450
$627,500
154
37
68
23
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$849,000
$642,500
19
9
14
107
Seller's
NV
Lake Tahoe
$2,622,500
$1,049,000
4
1
1
76
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,399,000
$1,200,000
529
131
69
73
Buyer's
NY
Nassau County
$1,360,407
$1,197,500
135
32
16
83
Buyer's
NY
Suffolk County
$749,999
$595,000
107
52
39
43
Seller's
ON
GTA - Durham
$747,445
$744,800
12
15
31
7
Seller's
ON
GTA - York
$788,888
$771,000
104
124
115
9
Seller's
ON
Oakville
$1,112,000
$1,040,000
34
26
1
15
Buyer's
ON
Toronto
$1,341,900
$1,120,000
446
444
387
8
Seller's
TN
Nashville
$875,000
$699,500
117
42
30
23
Seller's
TX
Austin
$949,900
$723,000
91
50
111
8
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$957,500
$660,000
128
56
59
18
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$675,000
$615,000
174
72
45
25
Seller's
TX
San Antonio
$699,500
$1,138,083
36
7
2
481
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,440,000
$2,066,644
78
20
51
15
Seller's
UT
Salt Lake City
$749,995
$622,500
34
20
44
42
Seller's
VA
Arlington & Alexandria
$1,124,500
$1,000,000
80
43
91
6
Seller's
VA
Fairfax County
$789,990
$695,000
127
88
205
5
Seller's
VA
McLean & Vienna
$1,212,495
$950,000
42
18
25
4
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,168,669
$1,050,000
219
90
131
7
Seller's
WA
Seattle
$1,549,500
$1,242,500
100
34
33
21
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
GREATER FORT LAUDERDALE FLO R IDA
GREATER FORT LAUDERDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | APRIL 2021 Inventory
Sales
Luxury Benchmark Price 1: $700,000 $7,500,000+ $6,300,000 - $7,499,999 $5,300,000 - $6,299,999
$4,300,000 - $5,299,999
54
5
22
1
21
6
Total Sales: 402 Seller's Market
26
6
$3,500,000 - $4,299,999
Total Sales Ratio2: 60%
35
15
$2,900,000 - $3,499,999 $2,400,000 - $2,899,999
Total Inventory: 665
48
9
40
8
$2,000,000 - $2,399,999
39
18
$1,600,000 - $1,999,999
60
35
$1,400,000 - $1,599,999
46
25
$1,200,000 - $1,399,999
52
40
$1,050,000 - $1,199,999
52
38 48
$900,000 - $1,049,999
55 97 96
$750,000 - $899,999 25
$700,000 - $749,999
1
45
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$860,000
3
3
143
202
71%
3,000 - 3,999
$950,000
4
4
115
132
87%
4,000 - 4,999
$1,262,500
5
5
62
89
70%
5,000 - 5,999
$2,177,500
5
6
36
56
64%
6,000 - 6,999
$4,980,000
6
7
13
47
28%
7,000+
$4,545,000
6
9
10
92
11%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
GREATER FORT LAUDERDALE
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$925,000
1,525
$947,500
$935,000
1,438
121 Apr-20
$875,000
1,326
1,300
86 May-20
1,227
202
156 Jun-20
$940,000
Jul-20
$1,025,000
Aug-20
$960,000
1,138
1,134
237
Inventory
259 Sep-20
$965,000
1,038 241
Oct-20
Solds
$996,500
948
262
232 Nov-20
Dec-20
$969,500
$988,500
779
680
$1,075,000
643 248
196 Jan-21
Feb-21
$1,057,500
665
395
Mar-21
402
Apr-21
MEDIAN DATA REVIEW | APRIL TOTAL INVENTORY Apr. 2020
Apr. 2021
1,525
TOTAL SOLDS Apr. 2020
Apr. 2021
665 VARIANCE: -56 %
402 VARIANCE: 232 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Apr. 2020
Apr. 2021
365 VARIANCE: 28 %
$
285
$
121
Apr. 2020
Apr. 2021
95.65% 97.22% VARIANCE: 2 %
SALES PRICE Apr. 2020
925k
$
Apr. 2021
1.06m VARIANCE: 14 % $
DAYS ON MARKET Apr. 2020
Apr. 2021
48
24 VARIANCE: -50 %
GREATER FORT LAUDERDALE MARKET SUMMARY | APRIL 2021 • The Greater Fort Lauderdale single-family luxury market is a Seller's Market with a 60% Sales Ratio. • Homes sold for a median of 97.22% of list price in April 2021. • The most active price band is $700,000-$749,999, where the sales ratio is 180%. • The median luxury sales price for single-family homes is $1,057,500. • The median days on market for April 2021 was 24 days, down from 48 in April 2020. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
GREATER FORT LAUDERDALE
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | APRIL 2021 Inventory
Sales
Luxury Benchmark Price 1: $545,000 $3,500,000+ $3,000,000 - $3,499,999 $2,700,000 - $2,999,999
$2,400,000 - $2,699,999
14
1
$1,700,000 - $1,899,999 $1,500,000 - $1,699,999
$1,300,000 - $1,499,999 $1,100,000 - $1,299,999
Total Inventory: 810
9
1
Total Sales: 193 Seller's Market
15
1
$2,150,000 - $2,399,999 $1,900,000 - $2,149,999
50
2
Total Sales Ratio2: 24%
22
6
31
3
28
7
41
6
47
11
65
15
$900,000 - $1,099,999
62
25
$800,000 - $899,999
85
19
$700,000 - $799,999
111
22
$600,000 - $699,999 $545,000 - $599,999
1
121
47 109
27
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$767,950
1
2
2
33
6%
1,000 - 1,499
$682,500
2
2
22
143
15%
1,500 - 1,999
$677,500
2
2
70
162
43%
2,000 - 2,499
$1,020,000
3
3
48
124
39%
2,500 - 2,999
$1,025,000
3
4
21
86
24%
3,000+
$1,675,000
4
5
22
116
19%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
GREATER FORT LAUDERDALE
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$875,000
$875,000
$839,000
$757,500
43 Apr-20
73
44
30 May-20
Jun-20
Jul-20
$732,500
$789,000
1,325
1,310
1,281
1,251
1,206
1,201
1,171
$705,000
Inventory
60
62
Aug-20
Sep-20
$795,000
$759,900
1,274
1,229
Nov-20
$875,000
Dec-20
$817,500
$800,000
869
810
$702,000
1,115
131
121
83 Oct-20
Solds
996
206
124
98 Jan-21
Feb-21
193
Mar-21
Apr-21
MEDIAN DATA REVIEW | APRIL TOTAL INVENTORY Apr. 2020
Apr. 2021
1,171
TOTAL SOLDS Apr. 2020
Apr. 2021
810 VARIANCE: -31 %
193 VARIANCE: 349 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Apr. 2020
$
Apr. 2021
444
435 VARIANCE: -2 % $
43
Apr. 2020
Apr. 2021
95.48% 96.55% VARIANCE: 1 %
SALES PRICE Apr. 2020
$
875k
Apr. 2021
800k VARIANCE: -9 % $
DAYS ON MARKET Apr. 2020
Apr. 2021
79
70 VARIANCE: -11 %
GREATER FORT LAUDERDALE MARKET SUMMARY | APRIL 2021 • The Greater Fort Lauderdale attached luxury market is a Seller's Market with a 24% Sales Ratio. • Homes sold for a median of 96.55% of list price in April 2021. • The most active price band is $900,000-$1,099,999, where the sales ratio is 40%. • The median luxury sales price for attached homes is $800,000. • The median days on market for April 2021 was 70 days, down from 79 in April 2020. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
MIAMI FLO R IDA
MIAMI
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | APRIL 2021 Inventory
Sales
Luxury Benchmark Price 1: $650,000 $12,000,000+ $7,000,000 - $11,999,999 $6,000,000 - $6,999,999
Total Inventory: 707
13
1
Total Sales: 300 Seller's Market
24
5
$4,000,000 - $4,999,999
$3,000,000 - $3,499,999
36
9
$5,000,000 - $5,999,999
$3,500,000 - $3,999,999
41
13
Total Sales Ratio2: 42%
30
7 19
3
27
11
$2,500,000 - $2,999,999
29
16
$2,000,000 - $2,499,999
54
23
$1,500,000 - $1,999,999
94
35
$1,000,000 - $1,499,999 $900,000 - $999,999
45
15
$800,000 - $899,999
71
29
$700,000 - $799,999
63
42
$650,000 - $699,999
1
120
58
41
33
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$675,000
2
2
1
4
25%
1,000 - 1,999
$817,500
3
2
52
125
42%
2,000 - 2,999
$1,000,000
4
3
102
185
55%
3,000 - 3,999
$1,245,000
5
4
66
142
46%
4,000 - 4,999
$2,398,611
5
6
30
72
42%
5,000+
$6,499,000
6
8
31
108
29%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MIAMI
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,125,000
$1,025,000
1,357
1,283
57 Apr-20
$950,000
$875,763
$870,000
1,229
1,137
May-20
Jun-20
$980,000
1,136
127
88
69
Inventory
Jul-20
$948,825
1,129
138 Aug-20
Sep-20
$1,225,000
$1,310,000
$1,236,000
1,046
167 Oct-20
$1,200,000
$1,050,000
$999,000
1,087
189
Solds
1,042
183
163 Nov-20
838
Dec-20
747
Jan-21
Feb-21
300
296
169
159
707
658
Mar-21
Apr-21
MEDIAN DATA REVIEW | APRIL TOTAL INVENTORY Apr. 2020
Apr. 2021
1,357
TOTAL SOLDS Apr. 2020
Apr. 2021
707 VARIANCE: -48 %
300 VARIANCE: 426 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Apr. 2020
Apr. 2021
479 VARIANCE: 42 %
$
338
$
57
Apr. 2020
Apr. 2021
94.78% 96.57% VARIANCE: 2 %
SALES PRICE Apr. 2020
870k
$
Apr. 2021
1.20m VARIANCE: 38 % $
DAYS ON MARKET Apr. 2020
119
51 VARIANCE: -57 %
MIAMI MARKET SUMMARY | APRIL 2021 • The Miami single-family luxury market is a Seller's Market with a 42% Sales Ratio. • Homes sold for a median of 96.57% of list price in April 2021. • The most active price band is $650,000-$699,999, where the sales ratio is 80%. • The median luxury sales price for single-family homes is $1,200,000. • The median days on market for April 2021 was 51 days, down from 119 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
MIAMI
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | APRIL 2021 Inventory
Sales
Luxury Benchmark Price 1: $610,000 $3,000,000+ $2,500,000 - $2,999,999
68
9
$2,000,000 - $2,499,999
$1,300,000 - $1,399,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999
$1,000,000 - $1,099,999
105
7
Total Sales Ratio2: 15% 75
9
100
13
100
17 70
12
180
24
209
30 145
18
$700,000 - $749,999
123
22
$650,000 - $699,999
1
Balanced Market
184 40
$800,000 - $899,999
$610,000 - $649,999
Total Sales: 293
30
$900,000 - $999,999
$750,000 - $799,999
Total Inventory: 2,002
18
$1,500,000 - $1,999,999 $1,400,000 - $1,499,999
316
46
165
24 122
14
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$935,000
1
2
9
195
5%
1,000 - 1,999
$905,000
2
3
173
1187
15%
2,000 - 2,999
$1,560,000
3
4
64
297
22%
3,000 - 3,999
$3,275,000
4
5
22
108
20%
4,000 - 4,999
$9,825,000
4
5
8
56
14%
5,000+
$6,500,000
5
8
5
51
10%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MIAMI
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$1,060,000
2,787
$1,170,000
$980,000
$931,750
2,757
49 Apr-20
Inventory
$842,025
2,797
2,751
May-20
Jun-20
$880,000
2,734
66
58
33
Jul-20
$980,000
2,728
2,701
69
76
Aug-20
Sep-20
$1,050,000
2,661
$925,000
2,556
Nov-20
Dec-20
$1,070,000
$1,050,000
2,208
2,073
$1,100,000
$881,000
2,369
129
89
84 Oct-20
Solds
Jan-21
Feb-21
293
275
157
122
2,002
Mar-21
Apr-21
MEDIAN DATA REVIEW | APRIL TOTAL INVENTORY Apr. 2020
Apr. 2021
2,787
2,002 VARIANCE: -28 %
SALE PRICE PER SQFT. Apr. 2020
Apr. 2021
601
689 VARIANCE: 15 %
$
$
TOTAL SOLDS Apr. 2020
Apr. 2021
49
293 VARIANCE: 498 % SALE TO LIST PRICE RATIO Apr. 2020
Apr. 2021
92.99% 95.38% VARIANCE: 3 %
SALES PRICE Apr. 2020
1.06m
$
1.10m VARIANCE: 4 % $
DAYS ON MARKET Apr. 2020
168
Apr. 2021
182 VARIANCE: 8 %
MIAMI MARKET SUMMARY | APRIL 2021 • The Miami attached luxury market is a Balanced Market with a 15% Sales Ratio. • Homes sold for a median of 95.38% of list price in April 2021. • The most active price band is $700,000-$749,999, where the sales ratio is 18%. • The median luxury sales price for attached homes is $1,100,000. • The median days on market for April 2021 was 182 days, up from 168 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
BOCA RATON & DELRAY BEACH FLO R IDA
BOCA/DELRAY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | APRIL 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $7,000,000+
36
6
$6,000,000 - $6,999,999
7
2
$5,000,000 - $5,999,999
Total Inventory: 220 11
5
$4,000,000 - $4,999,999
Total Sales: 117
$3,500,000 - $3,999,999
Seller's Market
20
5
Total Sales Ratio2: 53%
13
5
$3,000,000 - $3,499,999
17
10
$2,500,000 - $2,999,999
17
8
$2,000,000 - $2,499,999
24
14
$1,500,000 - $1,999,999 5
$1,400,000 - $1,499,999
$1,200,000 - $1,249,999 $1,150,000 - $1,199,999 $1,100,000 - $1,149,999
1
8
7 7
$1,300,000 - $1,399,999 $1,250,000 - $1,299,999
44
27
9
1 2
4 3
7 5
8
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,437,500
3
2
10
10
100%
3,000 - 3,999
$1,564,500
4
3
5
23
22%
4,000 - 4,999
$1,550,000
4
5
21
28
75%
5,000 - 5,999
$1,400,000
5
5
19
35
54%
6,000 - 6,999
$1,850,000
5
6
18
30
60%
7,000+
$3,200,000
6
8
38
92
41%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
BOCA/DELRAY
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,712,264
531
518
473
Apr-20
472
May-20
Jun-20
$1,675,000
468
76
50
33
28
$1,850,000
$1,741,250
$1,675,000
Jul-20
$1,800,000
449
Inventory
$1,850,000
441
65
71
Aug-20
Sep-20
$1,825,000
$1,980,000
394
355
$2,020,000
$2,015,000
272
82
92
Nov-20
Dec-20
68 Oct-20
Solds
$1,987,500
239 55
Jan-21
222
$1,900,000
220
77
92
Feb-21
Mar-21
117
Apr-21
MEDIAN DATA REVIEW | APRIL TOTAL INVENTORY Apr. 2020
Apr. 2021
531
TOTAL SOLDS Apr. 2020
Apr. 2021
220 VARIANCE: -59 %
117 VARIANCE: 318 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Apr. 2020
Apr. 2021
355
$
351 VARIANCE: -1 % $
28
Apr. 2020
Apr. 2021
93.61% 96.34% VARIANCE: 3 %
SALES PRICE Apr. 2020
1.71m
$
Apr. 2021
1.90m VARIANCE: 11 % $
DAYS ON MARKET Apr. 2020
Apr. 2021
77
21 VARIANCE: -73 %
BOCA/DELRAY MARKET SUMMARY | APRIL 2021 • The Boca/Delray single-family luxury market is a Seller's Market with a 53% Sales Ratio. • Homes sold for a median of 96.34% of list price in April 2021. • The most active price band is $1,150,000-$1,199,999, where the sales ratio is 233%. • The median luxury sales price for single-family homes is $1,900,000. • The median days on market for April 2021 was 21 days, down from 77 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
BOCA/DELRAY
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | APRIL 2021 Inventory
Sales
Luxury Benchmark Price 1: $500,000 $3,000,000+ $2,500,000 - $2,999,999
32
5
16
3
$2,000,000 - $2,499,999
17
5
$1,500,000 - $1,999,999
28
8
$1,000,000 - $1,499,999 $900,000 - $999,999
12
4
$800,000 - $899,999 $750,000 - $799,999
Total Sales Ratio2: 48% 9
6
3
12 11
4 3
4
$525,000 - $549,999
1
Seller's Market
6 6
$575,000 - $599,999
$500,000 - $524,999
Total Sales: 103
9
3
$650,000 - $699,999
$550,000 - $574,999
Total Inventory: 214 13
9
$700,000 - $749,999
$600,000 - $649,999
42
15
8 3
10
11
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$640,000
2
2
42
68
62%
2,000 - 2,499
$1,086,935
3
3
12
30
40%
2,500 - 2,999
$674,000
3
3
14
38
37%
3,000 - 3,499
$1,195,000
3
3
12
17
71%
3,500 - 3,999
$1,013,250
4
4
6
19
32%
4,000+
$2,666,000
4
5
12
29
41%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
BOCA/DELRAY
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$788,500
398
$742,500
$755,000
436
421
$695,000
$672,500
449
445
Inventory
$740,000
$799,000
$830,000
427
414
$915,000 $810,000
323
30 Apr-20
41
31
20 May-20
Jun-20
Jul-20
36
47
Aug-20
Sep-20
61
78
Nov-20
Dec-20
53 Oct-20
$750,000
$735,000
$695,000
448
440
Solds
290
269
77
61 Jan-21
Feb-21
214 124
103
Mar-21
Apr-21
MEDIAN DATA REVIEW | APRIL TOTAL INVENTORY Apr. 2020
Apr. 2021
398
TOTAL SOLDS Apr. 2020
Apr. 2021
214 VARIANCE: -46 %
103 VARIANCE: 243 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Apr. 2020
$
Apr. 2021
417
422 VARIANCE: 1 % $
30
Apr. 2020
Apr. 2021
94.76% 95.99% VARIANCE: 1 %
SALES PRICE Apr. 2020
789k
$
Apr. 2021
750k VARIANCE: -5 % $
DAYS ON MARKET Apr. 2020
Apr. 2021
99
44 VARIANCE: -56 %
BOCA/DELRAY MARKET SUMMARY | APRIL 2021 • The Boca/Delray attached luxury market is a Seller's Market with a 48% Sales Ratio. • Homes sold for a median of 95.99% of list price in April 2021. • The most active price band is $600,000-$649,999, where the sales ratio is 400%. • The median luxury sales price for attached homes is $750,000. • The median days on market for April 2021 was 44 days, down from 99 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Thank you for taking time to view this report. For more information about this report and the services I can offer you and your luxury property, please give me a call at 954.557.6642
- Alexa Rosario
954.557.6642 | info@alexarosario.com | www.AlexaRosario.com
