The Tansey Report Q3 - Miami Beach

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

Q3 | 2022

EXCLUSIVE LISTINGS BY DARIN TANSEY

The Ritz-Carlton Residences, Sky House

$18,000,000

2901 Collins Ave. #1402

$5,950,000

9703 Collins Avenue, #2607

$4,875,000

2900 NE 7th Avenue, #1902

$1,695,000

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 Q3 | 2022

TOTAL SALES (CLOSED)

TOTAL INVENTORY

1,034

2,561

8.4% vs.

Q2 2022

27.8% vs.

2021

44.1% vs.

Q2 2022

AVG. SALE PRICE

$1,276,668 19.5% vs.

Q2 2022

DARINTANSEY.COM

MONTH’S SUPPLY

9.3% vs.

2021

7.4

94.7% vs.

Q2 2022

39.5% vs.

2021

19.4% vs.

2021

AVG. DAYS ON MARKET

69

20.7% vs.

Q2 2022

43.9% 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

Q3 | By The Numbers

1034 $1,276,668 -39.5%

TRANSACTIONS

Both sales and listing inventory continued to decline from year-ago levels. Single family median sales price increased 17.9% year over year to $2,800,000, the ninth consecutive increase. With the spike in mortgage rates over the past six months, single family sales fell by 54.5% to 92 from the previous year’s quarter, causing listing inventory to expand. There were 305 single family listings at the end of the quarter, slightly above the year ago levels. Condo

DARINTANSEY.COM

CLOSED SALES YEAR-OVER-YEAR

AVG. SALE PRICE

median sales price slipped 0.5% annually to $516,250, the second straight annual decline, 47.8% above pre-pandemic levels. With condo sales falling 37.5% annually and listing inventory falling 30.6%, respectively, the condo market’s pace slowed by 10.8% but was 67.1% faster than pre-pandemic levels. The single family luxury market, which represents the top ten percent, began at $2,130,000, and the median sales price was $3,500,000, up 0.9% year over year and

305.987.1530