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2 N D Q U A R T E R 2 0 1 8 E D I T I O N

THIS QUARTER IN A NUTSHELL Several of coastal Miami's neighborhoods showed significant positive signs this quarter. The $1M+ Condo markets in Aventura, Bal Harbour / Surfside, Downtown / Edgewater / Midtown and Miami Beach all saw stable or increased "Number of Sales" and Sale Prices, year-over-year. And Single Family Homes in Coral Gables & Key Biscayne enjoyed stable sales volume and price levels. Overall, on the condo side, we saw a 14% jump in the number of $1M+ sales, compared to the same time last year. At the same time, the price per square foot held steady (around $946/SF for Q1 of this year), as did the Number of Days it took to sell (193 days - both years). Average Price Per Square Foot for $1M+ homes in coastal Miami jumped by about 8%, while the Number of Sales dipped slightly to 120. Despite this year-over-year price gain, homes actually sold quicker than it did during Q1 of last year - 13% more quickly in terms of number of Days On Market. For both condos as well as single family homes, the % off the List Price that buyer & sellers negotiated, also decreased a hair - signifying that sellers are more in line with true market conditions in terms of their asking prices.

SEND ME THIS REPORT AS A PDF ABOUT THE DE VOS REPORT This report was compiled by Arno De Vos, P.A. and is based upon Closed Sales of properties as recorded in the Southeast Florida MLS; provided by the Miami Association of Realtors. Data includes properties which sold for US$1,000,000 or greater with varying floor plans, views and elevations. All material presented herein is intended for informational purposes only. All property information, including but not limited to square footage, room count, number of bedrooms in property listings should be verified by your own attorney, architect or zoning expert. While this information is believed to be accurate and correct, it is presented subject to errors, omissions, changes or withdrawal without notice. If your property is currently listed with another real estate broker, please disregard this offer. It is not our intention to solicit the offerings of other real estate brokers. We cooperate with them fully. Equal Housing Opportunity.

ARNO DE VOS ONE Sotheby's International Realty arno.devos@sothebysrealty.com

305.432.1479

DEVOSREPORT | P3 .

De Vos Report (Q2 2018 Edition)  

Arno De Vos takes a close look at the $1M+ Real Estate Market in Coastal Miami for sales that closed during Q1 of 2018. For more info, conta...

De Vos Report (Q2 2018 Edition)  

Arno De Vos takes a close look at the $1M+ Real Estate Market in Coastal Miami for sales that closed during Q1 of 2018. For more info, conta...

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