VENETIAN ISLANDS MIDYEAR HIGHLIGHTS

Venetian Islands Average Sales Price

The Venetian Islands have a high entry barrier, as there are no homes for under $2M. The average sales price for single-family homes in this area is $7.3 million, up 94.4%. It is worth noting that the statistics for both the general single-family home market and homes priced at $1 million or more are the same, so we only need to focus on one set of data.

Venetian Islands

JAN-JUNE PERIOD

The average sales price for all homes sold is down from stratospheric numbers of 2022 settling into an incredible $7,307,500. Average sales price per square foot declined. Speed of market has increased with days on the market down by 34%.

Venetian Islands

Average Sales Price

SINGLE-FAMILY

Scarcity of inventory puts a negative pressure on number of sales, leaving some months with 0 transactions. Venetian Island’s entry threshold keeps moving higher. The entry threshold is $2.8M as inventory for new build and top-notch homes is tight.

SINGLE-FAMILY HOMES

Venetian Islands Average Sales Price

The general condo and townhome market has experienced a robust price increase in average sales price since 2019 calibrating post elevated 2022 heights to a 60% surge. The market for luxury condos and townhomes priced over $1 million has reached a point of stability

Venetian Islands

JAN-JUNE PERIOD

The condo and townhome market has experienced strong price growth overall. Even in the luxury segment with properties priced at $1 million or more, the price per square foot has increased despite the average prices stabilizing.

(right) Sales reached their highest point in March, with the average price being around $1.26 million and the $1M+ market at $3.36M.

Venetian Islands

JAN-JUNE PERIOD

CONDOS/TOWNHOMES $1M+ CONDOS/TOWNHOMES

2023

AVG. SALES BY MONTH

Total number of sales: 41

2022

AVG. SALES BY MONTH

Total number of sales: 60

2023

AVG. SALES BY MONTH

Total number of sales: 21

2022

AVG. SALES BY MONTH

Total number of sales: 20

Working with The APT Team is more than just a transaction, it is a relationship built on trust and respect. We are obsessed with helping our clients achieve their real estate dreams and create a legacy that will last for generations. We believe in the power of a handshake, even in this digital age. With over $900M+ in sales and 5 languages spoken, we know that numbers are only part of the story. What matters most is you. After all, what you own is just as important as how and why you own it.

The APT Team at Douglas Elliman, where your legacy is our obsession.