DeVos Report - Miami | 3rd Quarter 2018 Edition

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

THIS QUARTER IN A NUTSHELL In creating this report, my goal is always to provide a clear view of each of the unique geographical submarkets within Miami's luxury market, highlighting areas of opportunity for buyers in some, and for sellers in others. But first, the big picture is one of stability. Prices are showing a sustainable pattern of moderate increases. The Average Sales Price Per SF for condos over $1M increased around 4% over the 2nd Quarter of last year to $943/SF; And for homes that number increased 5%. The Average Days On Market for both Condos and Homes have decreased slightly from the same time frame last year (selling 2% and 8% more quickly, respectively). The Number of Homes that sold for $1M+ in Q2 of 2018, is showing a small jump over Q2 of last year to 318 homes (up 4%). But at the risk of burying the lead, the big headline to many may be condominiums: 30% (!) More condominiums have sold for $1M or more in Q2 of 2018 than in the same time frame last year (and this doesn’t take into account the new-construction condo developments which are, overall, reportedly over 80% sold as of June 1). That’s pretty remarkable. I invite you to explore your Miami “neck of the woods” in this report, and to connect with me directly on (+1) 305-432-1479 via phone, text or WhatsApp.



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