The Tansey Report - Q2 2022

The Tansey Report The Industry-Leading Report on Miami Beach Real Estate

Q2 | 2022

EXCLUSIVE LISTINGS BY DARIN TANSEY

The Ritz-Carlton Residences, Sky House

$18,000,000

5777 Pine Tree Drive

$19,999,000

2901 Collins Ave. #1402

$5,950,000

261 1809th Street, Golden Shores

$5,400,000

RECENTLY SOLD BY DARIN TANSEY

The Ritz-Carlton Villas | 9 Sold

$53,350,000

45 E. Dilido Drive

$15,775,000

4701 Meridian Avenue, #PH01

4701 N Meridian Ave, #PH 21 + 24

35 E Dilido Drive

55 Palm Avenue

The Bristol

3009 Pine Tree Drive

$12,700,000

$11,800,000

$15,000,000

$9,100,000

$15,000,000

$5,960,000

Record-Breaking Results As a resident of Miami for over 15 years, Darin focuses on an exclusive inventory of luxury waterfront properties throughout South Florida with a keen focus in Miami Beach and its immediate surrounding areas.

Together with his team of top producing agents, he offers his clients cutting-edge premier service in today’s rapidly growing market.

Working alongside developers to convert ideas from blueprints, Darin is involved in the development of multi-million dollar properties from the ground up, including the purchase of land, architectural design & layout, approvals, and positioning. Darin’s strong background in property management, specifically larger residential properties, fuels his commitment to the business of real estate investment and management.

Miami Beach

SINGLE-FAMILY HOME S AND C OND OS Q2 | 2022

TOTAL SALES (CLOSED)

TOTAL INVENTORY

1,849

2,363

11.2% vs.

Q1 2022

33.1% vs.

2021

3.0% vs.

Q1 2022

AVG. SALE PRICE

$1,585,816 4.4% vs.

Q1 2022

DARINTANSEY.COM

MONTH’S SUPPLY

3.0% vs.

2021

3.8

15.2% vs.

Q1 2022

22.7% vs.

2021

13.6% vs.

2021

AVG. DAYS ON MARKET

87

14.7% vs.

Q1 2022

42.8% vs.

2021

305.987.1530

Executive Director of Luxury Sales 305.987.1530 darin.tansey@elliman.com Douglas Elliman Miami Beach 1111 Lincoln Road #805 Miami Beach, FL 33139

Q2 | By The Numbers

1849 $1,585,816

TRANSACTIONS

AVG. SALE PRICE

Single family median sales price surged 70.3% annually to $3,500,000, a new record for the seventh time in eight quarters and more than double pre-pandemic levels. Single-family sales fell by 49% from the prior year quarter to 149 as listing inventory slipped 2% to 295, 61.1% below pre-pandemic levels. With the more significant decline in sales than listing inventory, months of supply, the number of months to sell all single-family listing inventory at the current sales rate was 5.9 months, 73.3% faster than pre-pandemic levels.

DARINTANSEY.COM

The market share of bidding wars rose to a record 21.5%. Condos median sales price slipped 2.8% to the third highest on record and was 50% above pre-pandemic levels. Condo sales fell by 19.1% from the prior year quarter to 1,700 as condo listing inventory dropped 36% to 2,068 and 62.

9% below pre-pandemic levels. The market share of condo bidding wars increased to 14.8% for the fourth consecutive quarter with a new high.

305.987.1530