Market Report | 2023 Annual Report

Real Estate Trends Along Florida’s East Coast 2023 ANNUAL MARKET REPORT

FEATURED PROPERTY: 98 LA GORCE CIRCLE MIAMI BEACH, FL

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Future Residences located at 1809 Brickell Avenue Miami, Florida 33129 MiamiSRR.com ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. The St. Regis Residences, Miami’s Developer is 1809 Brickell Property Owner, LLC and the complete offering terms are contained in Developer’s prospectus. The St. Regis Residences, Miami is not owned, developed, or sold by Marriott International, Inc. (or its affiliates), which has not confirmed theaccuracy of any of the statements or representations made about the project. Consult only the Developer’s Prospectus to understand this offering, the amenities, the proposed budgets, terms, conditions, specifications, fees, Unit dimensions and method for Unit calculation, site plans, and to learn what is included with purchase and by payment of regular assessments. All prices are subject to change and do not include optional features, design packages, or premiums for upgrades to any Unit. 1809 Brickell Property Owner, LLC 2024.

ONE Sotheby’s International Realty Exclusive Sales and Marketing Brokerage Representing Alba Palm Beach

Intimately sized, graciously appointed, and centrally located directly on the Intracoastal, Alba Palm Beach is a dramatic step forward for life on the water. Offering only 55 residences, Alba Palm Beach features two-to-four bedrooms with serene, unobstructed waterfront vistas within South Florida’s most prestigious neighborhood.

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Sales Gallery & Showroom: 250 N. Olive Avenue, West Palm Beach albapalmbeach.com Artist’s Rendering © 2023 Scuba Club WPB, LLC. All Rights Reserved. FULL DISCLAIMER AT: www.albapalmbeach.com/disclaimer THE COMPLETE OFFERING TERMS ARE IN A CPS-12 APPLICATION AVAILABLE FROM THE OFFEROR. FILE NO. CP23-0044

Table of Contents MIAMI-DADE COUNTY

06

BROWARD COUNTY

08

PALM BEACH COUNTY

10

MARTIN COUNTY

12

INDIAN RIVER COUNTY

14

BREVARD COUNTY

16

FLAGLER COUNTY

18

ST. JOHNS COUNTY

19

CLAY COUNTY

20

DUVAL COUNTY

21

NASSAU COUNTY

22

Real estate trends along Florida’s East Coast The housing market had its ups and downs in the last year. Home sales moderated along Florida’s East Coast in 2023 as higher mortgage rates continued to constrain buyer activity. More than 23,000 homes and condos sold in 2023, a decrease of 8% from 2022. Sales activity for condos declined the most, with a 15% drop from the prior year. In southeast Florida, condo sales also accounted for the bulk of the slowdown. However, condo sales increased from the previous year in northeast Florida while single-family home sales declined.

Sales activity varied by price range during 2023. Midpriced home sales were on par with the previous year in several counties. In southeast Florida, sales of homes priced between $1 million and $2 million increased slightly. On the other hand, sales of homes priced more than $5 million fell last year. However, outside of the statistics used within this report, sales of homes priced less than $500,000 fell the most as higher mortgage rates reduced purchase activity. A similar trend emerged in northeast Florida, with more significant slowdowns in the highest-priced and lowest-priced tiers. However, sales increased by 4% in the $1 million to $4 million range.

During the last year, price movement was mixed.

Along Florida’s East Coast, the median price for single-family homes increased while condo prices fell.

Pricing in northeast Florida was slightly better than in southeast Florida, even as inventory increased. We saw the strongest price gains during 2023 for singlefamily homes in Duval and Indian River counties. In the condo segment, price growth in Clay and Palm Beach counties outpaced the rest of the region.

Throughout 2023, for-sale inventory increased as a growing number of homes were listed, just as sales activity moderated. In southeast and northeast Florida, condo and single-family home sales increased from the previous year. Inventory in northeast Florida, in particular, increased substantially from 2022 as many higher-priced single-family homes came to market.

On the bright side, following a surge of listings early in the year, inventory began to decrease in the final months of 2023 in northeast Florida. As potential buyers found more options, listings remained on the market longer on average, and the share of homes selling at a premium to the list price fell in most neighborhoods.

Macroeconomic factors weighed on the housing market in 2023, particularly with elevated mortgage rates influencing buyer activity. The moderation in activity helped to constrain pricing, and listing inventory rose.

In recent weeks, mortgage rates fell slightly and, with a likely end to Federal Reserve interest rate hikes for the near term, may continue to decrease modestly in the coming months. This boost to purchasing power and affordability should entice additional buyers off the sidelines, leading to a rebound in sales activity. The larger volume of homes for sale should be able to absorb this increase in demand, yet pricing should recover in most neighborhoods. The housing market is poised to return to a positive trajectory in 2024, and a continued influx of new households and out-of-state and foreign investors should bolster demand up and down Florida’s East Coast.

Florida’s East Coast Snapshot Market data represents single-family and condominium properties above $1,000,000 for Miami-Dade, Broward and Palm Beach County and above $500,000 for Martin, Indian River, Brevard, Clay, Duval, Nassau, Flagler and St. Johns County.

FOR-SALE LISTINGS

MEDIAN SALES PRICE

AVG. SALES PRICE

AVG. PRICE PER SF

CLOSED TRANSACTIONS

HIGHEST SALE

DEC 23

CHANGE FROM PRIOR MONTH

2023

YOY% CHANGE

2023

YOY% CHANGE

2023

YOY% CHANGE

SINGLE FAMILY HOMES

1,890

1%

$1,650,000

-5%

$2,660,752

-7%

$782

-2%

2,134

-6%

$79,000,000

CONDOS

2,245

1%

$1,650,000

0%

$2,508,566

-1%

$1,087

3%

1,673

-29%

$27,100,000

SINGLE FAMILY HOMES

675

0%

$655,369

1%

$794,435

2%

$313

2%

2,171

-4%

$6,000,000

CONDOS

210

0%

$649,900

-2%

$751,010

1%

$396

1%

373

-19%

$2,214,210

SINGLE FAMILY HOMES

1,225

-2%

$1,400,000

-4%

$2,035,111

-2%

$570

0%

1,824

-11%

$40,000,000

CONDOS

530

7%

$1,500,000

-8%

$1,847,983

-14%

$795

-9%

478

-29%

$13,250,000

SINGLE FAMILY HOMES

543

-2%

$772,500

3%

$1,168,722

1%

$413

4%

809

11%

$20,500,000

CONDOS

166

30%

$785,000

-1%

$1,033,831

1%

$510

-2%

239

19%

$3,945,000

SINGLE FAMILY HOMES

180

-2%

$750,000

-5%

$1,058,607

2%

$387

3%

584

8%

$12,000,000

CONDOS

52

8%

$640,000

-3%

$841,017

1%

$503

5%

95

23%

$4,250,000

SINGLE FAMILY HOMES

1,952

2%

$1,600,000

-5%

$2,602,444

-7%

$697

-2%

2,811

1%

$62,988,000

CONDOS

745

10%

$1,825,000

6%

$2,365,284

2%

$992

6%

905

-2%

$21,000,000

29

-36%

$595,000

-2%

$668,425

-1%

$225

2%

428

-17%

$2,700,000

157

-11%

$680,000

3%

$852,431

5%

$225

2%

2,287

-9%

$8,000,000

121

-1%

$670,000

2%

$851,133

7%

$334

1%

1,035

-4%

$4,700,000

133

-1%

$719,375

3%

$891,634

-2%

$378

4%

1,348

-4%

$6,450,000

323

-12%

$690,000

2%

$861,645

1%

$337

3%

4,261

-8%

$19,000,000

2023

YOY% CHANGE

2023

MIAMI DADE COUNTY

BREVARD COUNTY

BROWARD COUNTY

INDIAN RIVER COUNTY

MARTIN COUNTY

PALM BEACH COUNTY

CLAY COUNTY RESIDENTIAL DUVAL COUNTY RESIDENTIAL FLAGLER COUNTY RESIDENTIAL NASSAU COUNTY RESIDENTIAL ST JOHNS COUNTY RESIDENTIAL

Average Sales Price | Single-Family Homes $3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0 Brevard

Indian River

Martin

Palm Beach

Broward

2022

Miami-Dade

Clay

Duval

Flagler

Nassau

St. Johns

Duval

Flagler

Nassau

St. Johns

2023

Average Sales Price | Condominiums $3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0 Brevard

Indian River

Martin

Palm Beach

Broward

2022

Miami-Dade

Clay

2023

Market data represents single-family and condominium properties above $1,000,000 for Miami-Dade, Broward and Palm Beach County and above $500,000 for Martin, Indian River, Brevard, Clay, Duval, Nassau, Flagler and St. Johns County.

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RESIDENCES PRICED FROM THE MID-$600,000S Future Residences Located At:

Sales Gallery:

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EllaMiamiBeach.com © 2024 ONE Sotheby’s International Realty. All rights reserved. Sotheby’s International Realty® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission. ONE Sotheby’s International Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Sotheby’s International Realty Affiliates LLC or any of its affiliated companies. The information contained herein is deemed accurate but not guaranteed. Oral representations cannot be relied upon as correctly stating the representations of the developer. For correct representations, reference should be made to the documents required by section 718.503, Florida Statutes, to be furnished by a developer to a buyer or lessee. Pricing subject to change without notice.

NEIGHBORHOOD SNAPSHOTS

SINGLE-FAMILY HOMES

Miami-Dade County INVENTORY UP For-sale inventory increased by 14% in 2023. While overall sales fell, sales of homes priced between $500,000 and $1 million increased by 5%.

$1.7M

5%

MEDIAN SALES PRICE

80

MEDIAN PPSF

2,134

34%

AVG. DAYS ON MARKET

1,890

$686

2%

SOLD LISTINGS

12%

ACTIVE LISTINGS

MARKET DATA FOR SINGLE-FAMILY HOMES, $1,000,000+

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

AVENTURA

$1,530,000

$2,385,000

-36%

BAL HARBOUR

$6,521,250

$27,828,900

BAY HARBOR ISLANDS

$3,128,750

COCONUT GROVE

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$583

-2%

17

-11%

64

-77%

$2,111

-38%

2

-33%

132

$3,525,000

-11%

$1,114

-2%

10

-41%

53

$2,300,000

$2,050,000

12%

$900

-4%

124

-17%

101

CORAL GABLES

$1,800,000

$1,972,000

-9%

$814

6%

285

-13%

68

GOLDEN BEACH

$6,175,000

$4,675,000

32%

$1,600

10%

10

0%

121

KEY BISCAYNE

$3,607,500

$3,800,000

-5%

$1,236

1%

28

-51%

103

MIAMI

$1,400,000

$1,438,300

-3%

$563

7%

582

-3%

75

MIAMI BEACH

$3,025,000

$3,400,000

-11%

$1,084

-7%

205

-5%

112

MIAMI SHORES

$1,370,000

$1,475,000

-7%

$698

2%

96

13%

51

NORTH BAY VILLAGE

$1,375,000

$1,400,000

-2%

$646

6%

11

-42%

91

PINECREST

$2,365,000

$2,425,000

-2%

$740

11%

176

-3%

74

SOUTH MIAMI

$1,400,000

$1,645,000

-15%

$677

-1%

43

-22%

52

SUNNY ISLES BEACH

$1,487,500

$2,350,000

-37%

$857

31%

10

0%

146

SURFSIDE

$1,465,000

$1,500,000

-2%

$809

-7%

27

-36%

84

2023

6%

NEIGHBORHOOD SNAPSHOTS

CONDOMINIUMS

Miami-Dade County PRICING STEADY The median price was unchanged from the previous year even though fewer units were sold.

$1.7M

0%

MEDIAN SALES PRICE

112

1,673

AVG. DAYS ON MARKET

SOLD LISTINGS

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

AVENTURA

$1,550,000

$1,700,000

-9%

BAL HARBOUR

$2,800,000

$2,667,500

BAY HARBOR ISLANDS

$1,490,000

BRICKELL/DOWNTOWN MIAMI/EDGEWATER

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$555

-1%

119

-34%

120

5%

$1,254

4%

72

-24%

124

$1,267,500

18%

$655

-7%

15

-32%

91

$1,317,500

$1,425,000

-8%

$812

1%

286

-28%

103

COCONUT GROVE

$1,725,000

$1,700,000

1%

$914

11%

141

-3%

82

CORAL GABLES

$1,820,000

$1,694,000

7%

$715

8%

34

-31%

122

FISHER ISLAND

$3,600,000

$8,550,000

-58%

$1,312

-44%

1

-80%

275

GOLDEN BEACH

N/A

N/A

N/A

N/A

N/A

-

N/A

N/A

INDIAN CREEK

N/A

N/A

N/A

N/A

N/A

-

N/A

N/A

KEY BISCAYNE

$1,775,000

$1,750,000

1%

$936

0%

131

-13%

100

MIAMI

$1,425,000

$1,350,000

6%

$918

10%

151

-34%

110

MIAMI BEACH

$1,755,000

$1,850,000

-5%

$1,224

2%

388

-30%

119

N/A

N/A

N/A

N/A

-

N/A

N/A

2023

3%

MEDIAN PPSF

2%

2,245

$914

MEDIAN SALES PRICE

29%

MIAMI SHORES

N/A

NORTH BAY VILLAGE

$1,152,000

$1,300,000

-11%

$593

7%

6

-14%

72

PINECREST

$1,500,000

$1,174,500

28%

$450

1%

3

-25%

28

N/A

N/A

N/A

N/A

-

N/A

N/A

SOUTH MIAMI

N/A

14%

ACTIVE LISTINGS

MARKET DATA FOR CONDOMINIUMS, $1,000,000+

SUNNY ISLES BEACH

$1,999,000

$1,765,000

13%

$922

3%

273

-35%

134

SURFSIDE

$2,050,000

$2,150,000

-5%

$1,069

7%

21

-36%

64

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ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. This is not intended to be an offer to sell, or solicitation of an offer to buy, condominium units to residents of CT, ID, NY, NJ and OR, unless registered or exemptions are available, or in any other jurisdiction where prohibited by law, and your eligibility for purchase will depend upon your state of residency. This offering is made only by the prospectus for the condominium and no statement should be relied upon if not made in the prospectus. The Developer (as is defined herein below) reserves the right to revise or modify, in its sole and absolute discretion, any or all improvements, designs and construction specifications depicted and all terms, conditions and statements made. All of the drawings, rendering, and photographs provided by Developer are conceptual only and are for the convenience of illustrating a proposed development; said drawings, renderings and photographs should not be relied upon as representations, express or implied, of the final detail of the residences. All depictions of appliances, fixtures, counters, soffits, wall coverings, floor coverings, furnishings, closets, and other matters of detail, including, without limitation, items of finish and decoration, are conceptual only and are not necessarily the final finishes and details included with the purchase of a Unit. Consult your Purchase Agreement and the Prospectus for information on what is included with Unit purchases. The photographs contained in these materials and other brochures may be stock photography, or may have been taken off-site and are used to depict the spirit of the lifestyles to be achieved rather than any that may exist or that may be proposed, and the photographs are merely intended as illustrations of the activities and concepts depicted therein. No statements or representations have been made by Developer, or any of its agents, employees or representatives with respect to any potential for future profit, any future appreciation in value, investment opportunity potential, any rental income potential, the ability or willingness of Developer, or its affiliates, to assist any buyer in financing, renting (other than the existence of a voluntary rental program) or selling the Unit (except only in response to a direct inquiry from buyer), the economic or tax benefits to be derived from the managerial efforts of a third party as a result of renting the Unit or other units, or the economic or tax benefits to be derived from ownership of the Unit. The Developer, its agents, employees, and representatives are neither investment advisors nor tax advisors and any statement that may have been made should not be relied upon in your decision to purchase. Certain nearby attractions referenced or identified in these materials are off-site and not controlled by the Developer. The references to nearby attractions are based upon public information sources and are believed to be accurate as of the date of these materials or publication; however, there is no guarantee that such attractions will continue to exist, or that there would not be changes and/or substitutions of any of the same. The managing entities, operators, amenities and other features that may be referred to are accurate as of the date of these materials or publication; however, there is no guarantee that the managing entities, operators, amenities and other features that may be referred to will be involved at, or following, the completion of the Condominium. The Developer reserves the right to change any and all such managing entities, operators, amenities and other features that may be referred to as the Developer deems best for the Condominium in the Developer’s sole and absolute discretion. Dimensions and square footage of the Units are approximate and may vary with actual construction. The Condominium is being developed by Gables Village Propco LLC, a Delaware limited liability company (“Developer”). You will look solely to Developer with respect to any and all matters relating to the sales, marketing, and development of the Condominium or your purchase of a Unit in the Condominium. No real estate broker is authorized to make any representations or other statements regarding the project, and no agreements with, deposits paid to or other arrangements made with any real estate broker are or shall be binding on the Developer. All prices are subject to change at any time and without notice, and do not include optional features or premiums for upgraded units. From time to time, price changes may have occurred that are not yet reflected on these materials or other brochures. Please check with the Developer for the most current pricing. Concierge services that may be described are available to Unit owners who pay additional fees. Consult the Prospectus for the site plan and the location of the Unit you desire. Unless otherwise noted, this content is owned by Developer and the unauthorized reproduction, display or other dissemination of these or other materials is strictly prohibited and constitutes copyright infringement.

Unless otherwise defined, capitalized terms used herein shall have the meanings ascribed to them in the Prospectus.

NEIGHBORHOOD SNAPSHOTS

SINGLE-FAMILY HOMES

Broward County SALES DECREASE The number of homes sold fell in 2023, though there was a slight acceleration of activity at the end of the year.

Listing volume increased by 16%, one of the smallest jumps in the region.

$1.4M

4%

MEDIAN SALES PRICE

73

MEDIAN PPSF

1,824

50%

AVG. DAYS ON MARKET

1,225

$470

2%

SOLD LISTINGS

11%

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

COOPER CITY

$1,269,518

$1,200,000

6%

CORAL SPRINGS

$1,150,000

$1,275,000

DAVIE

$1,500,000

DEERFIELD BEACH

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$395

4%

39

11%

51

-10%

$322

-4%

35

-38%

54

$1,500,000

0%

$387

-2%

165

9%

82

$1,600,000

$1,770,000

-10%

$685

8%

35

52%

87

FORT LAUDERDALE

$1,850,000

$2,000,000

-8%

$712

-5%

456

-17%

91

HALLANDALE

$5,950,000

$2,670,000

123%

$1,003

-7%

9

-10%

91

HILLSBORO BEACH

$19,241,500

N/A

N/A

$1,490

N/A

1

N/A

649

HOLLYWOOD

$1,350,000

$1,357,500

-1%

$500

-6%

98

-2%

78

LAUDERDALE-BY-THESEA

$1,325,000

$1,487,500

-11%

$762

5%

11

-61%

88

LIGHTHOUSE POINT

$2,300,000

$1,910,000

20%

$733

3%

85

-19%

68

MIRAMAR

$1,189,000

$1,180,500

1%

$314

-2%

47

-2%

57

PARKLAND

$1,300,000

$1,332,500

-2%

$371

-1%

314

2%

53

PEMBROKE PINES

$1,150,000

$1,100,000

5%

$337

0%

27

-18%

51

PLANTATION

$1,300,000

$1,400,000

-7%

$407

-1%

77

-18%

57

POMPANO BEACH

$1,475,000

$1,450,000

2%

$710

-2%

98

-20%

72

SOUTHWEST RANCHES

$1,825,000

$1,650,000

11%

$473

1%

72

-13%

74

N/A

N/A

N/A

N/A

-

N/A

N/A

2023

16%

ACTIVE LISTINGS

MARKET DATA FOR SINGLE-FAMILY HOMES, $1,000,000+

SUNRISE

N/A

WESTON

$1,255,000

$1,296,500

-3%

$403

5%

175

-26%

58

WILTON MANORS

$1,250,000

$1,330,000

-6%

$640

-1%

33

10%

55

Broward County THE PACE OF SALES ACCELERATES While the number of sales fell, units spent much less time on the market compared with 2022.

Broward County was the only region where units sold quicker in 2023 compared with the prior year.

NEIGHBORHOOD SNAPSHOTS

CONDOMINIUMS

MEDIAN SALES PRICE

2023

2022

YOY% CHANGE

DEERFIELD BEACH

$1,345,000

$1,625,000

-17%

FORT LAUDERDALE

$1,500,000

$1,700,000

HALLANDALE

$1,250,000

HILLSBORO BEACH

$1.5M

$724

MEDIAN SALES PRICE

MEDIAN PPSF

81

478

42%

AVG. DAYS ON MARKET

530

SOLD LISTINGS

39%

ACTIVE LISTINGS

MARKET DATA FOR CONDOMINIUMS, $1,000,000+

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$907

19%

7

-13%

95

-12%

$730

-2%

305

-31%

80

$1,540,000

-19%

$758

-8%

41

2%

90

$1,300,000

$1,372,500

-5%

$621

10%

16

-11%

43

HOLLYWOOD

$1,500,000

$1,551,000

-3%

$693

0%

50

-47%

115

LAUDERDALE-BY-THESEA

$1,585,000

$1,595,000

-1%

$615

14%

25

-44%

61

N/A

N/A

N/A

N/A

-

N/A

N/A

LIGHTHOUSE POINT

8%

MEDIAN PRICE PER SF

N/A

2023

POMPANO BEACH

$1,790,000

$1,512,000

18%

$849

56%

33

10%

60

WILTON MANORS

N/A

$1,100,000

N/A

N/A

N/A

-

N/A

N/A

1%

29%

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Obtain the Property Report required by Federal Law and read it before signing anything. No Federal or State agency has endorsed or judge s not an offer to sell or solicitation to buy real estate in any jurisdiction where prohibited by law. Products and availability are subject to change without notice. Improvements, facilities and programs may be in formative stages and cannot be guaranteed. Artist renderings are for illustrative purposes only and may differ from completed products.

Palm Beach County MORE EXPENSIVE HOMES SELL Sales of homes priced between $1 million and $5 million increased by more than 2%, though sales decreased in all other price ranges.

$1.6M

5%

MEDIAN SALES PRICE

70

2,811

AVG. DAYS ON MARKET

SOLD LISTINGS

30%

ACTIVE LISTINGS

MARKET DATA FOR SINGLE-FAMILY HOMES, $1,000,000+

MEDIAN SALES PRICE

3%

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

BOCA RATON

$1,675,000

$1,700,000

-1%

BOYNTON BEACH

$1,255,000

$1,300,000

DELRAY BEACH

$1,750,000

HIGHLAND BEACH

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$523

5%

764

7%

67

-3%

$450

7%

186

43%

50

$1,700,000

3%

$564

9%

396

-2%

57

$4,600,000

$9,900,000

-54%

$948

-37%

5

-55%

360

JUNO BEACH

$2,158,750

$1,900,000

14%

$902

15%

18

100%

81

JUPITER

$1,665,283

$1,625,000

2%

$569

2%

376

17%

71

JUPITER INLET COLONY

$4,995,000

$8,300,000

-40%

$1,503

-21%

9

50%

96

N/A

N/A

N/A

N/A

-

N/A

N/A

LAKE PARK

MEDIAN PPSF

52%

1,952

$541

NEIGHBORHOOD SNAPSHOTS

SINGLE-FAMILY HOMES

N/A

2023

LAKE WORTH

$1,225,000

$1,260,000

-3%

$417

6%

33

-38%

78

LANTANA

$3,400,000

$2,800,000

21%

$966

9%

14

-18%

92

NORTH PALM BEACH

$2,575,000

$3,075,000

-16%

$869

13%

53

6%

64

MANALAPAN

$13,903,000

$5,300,000

162%

$2,083

128%

7

0%

136

PALM BEACH

$9,237,430

$12,000,000

-23%

$2,838

-10%

45

-35%

140

PALM BEACH GARDENS

$1,550,000

$1,685,000

-8%

$494

2%

393

15%

64

SINGER ISLAND

$1,850,000

$2,405,000

-23%

$666

-41%

13

18%

64

TEQUESTA

$1,500,000

$1,563,500

-4%

$653

-2%

27

-4%

55

WELLINGTON

$1,572,500

$1,600,000

-2%

$452

4%

158

-29%

95

WEST PALM BEACH

$1,650,000

$1,700,000

-3%

$633

-4%

179

-26%

97

1%

CONDOMINIUMS

Palm Beach County PRICING MOVES HIGHER The median price increased by 6%, the strongest growth in the region.

Sales were on par with the previous year, but inventory increased.

$1.8M MEDIAN SALES PRICE

71

32%

AVG. DAYS ON MARKET

745 ACTIVE LISTINGS

6%

$879 MEDIAN PPSF

905 SOLD LISTINGS

43%

8%

NEIGHBORHOOD SNAPSHOTS

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

BOCA RATON

$1,562,500

$1,650,000

-5%

BOYNTON BEACH

$1,395,000

$1,945,000

DELRAY BEACH

$1,500,000

HIGHLAND BEACH

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$843

3%

184

-12%

62

-28%

$771

19%

5

-77%

53

$1,575,000

-5%

$779

1%

100

4%

76

$1,800,000

$1,605,000

12%

$787

5%

53

-38%

72

JUNO BEACH

$1,500,000

$1,697,500

-12%

$756

-14%

37

42%

89

LAKE WORTH

N/A

N/A

N/A

N/A

N/A

-

N/A

N/A

LANTANA

N/A

$1,400,000

N/A

N/A

N/A

-

N/A

N/A

NORTH PALM BEACH

$1,600,000

$1,950,000

-18%

$723

10%

27

-18%

83

MANALAPAN

$4,150,000

$1,849,999

124%

$1,521

65%

2

-33%

42

PALM BEACH

$2,480,000

$2,518,000

-2%

$1,399

6%

110

-32%

86

PALM BEACH GARDENS

$1,800,000

$1,919,485

-6%

$642

-14%

23

5%

77

SINGER ISLAND

$1,710,000

$1,350,000

27%

$743

2%

52

6%

95

TEQUESTA

$2,650,000

$2,250,563

18%

$1,318

17%

11

-50%

113

WELLINGTON

$1,299,000

$1,357,500

-4%

$633

29%

13

63%

64

WEST PALM BEACH

$2,200,000

$1,450,000

52%

$1,065

22%

187

143%

65

2023

2%

SINGLE-FAMILY HOMES

Martin County

$750K

SALES RISE

5%

MEDIAN SALES PRICE

MEDIAN PPSF

584

180

8%

SOLD LISTINGS

Closed sales increased by 8%, yet the median price decreased. Sales increased the most in the $500,000 to $1 million range for homes over $3 million.

$329 ACTIVE LISTINGS

MARKET DATA FOR SINGLE-FAMILY, HOMES, $500,000+

NEIGHBORHOOD SNAPSHOTS

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

$655,000

$680,000

-4%

HUTCHINSON ISLAND

$2,675,000

$1,587,500

JENSEN BEACH

$632,000

JUPITER ISLAND

HOBE SOUND

PALM CITY SEWALL'S POINT STUART

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$313

4%

64

73%

46

69%

$711

16%

23

92%

82

$649,900

-3%

$308

3%

81

37%

42

$11,171,836

$6,200,000

80%

$2,223

9%

14

-1%

105

$815,000

$835,000

-2%

$318

1%

377

6%

34

$1,075,000

$1,380,000

-22%

$415

-6%

46

-5%

54

$748,250

$701,450

7%

$351

6%

194

18%

55

2023

2%

56

AVG. DAYS ON MARKET

8%

52%

CONDOMINIUMS

Martin County

$640K

STRONG INCREASE IN SALES

3%

MEDIAN SALES PRICE

MEDIAN PPSF

95

52

23%

SOLD LISTINGS

The number of sales in 2023 increased by more than 23%, the most significant jump in the southeast region.

$452 ACTIVE LISTINGS

MARKET DATA FOR SINGLE-FAMILY, HOMES, $500,000+

NEIGHBORHOOD SNAPSHOTS

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2022

YOY% CHANGE

N/A

$1,250,000

N/A

HUTCHINSON ISLAND

$615,000

$675,000

JENSEN BEACH

$775,000

JUPITER ISLAND

N/A

2023 HOBE SOUND

PALM CITY SEWALL'S POINT STUART

$800,000 N/A $775,000

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

N/A

N/A

-

N/A

N/A

-9%

$471

-2%

70

27%

80

$557,500

39%

$326

6%

3

-57%

120

N/A

N/A

N/A

N/A

-

N/A

N/A

$1,187,500

-32%

$336

-36%

7

75%

73

N/A

N/A

N/A

N/A

-

N/A

N/A

$743,000

4%

$424

3%

13

30%

54

2023

24%

2%

77

AVG. DAYS ON MARKET

165%

SINGLE-FAMILY HOMES

Indian River County

$773K

SALES ACTIVITY UP

3%

MEDIAN SALES PRICE

MEDIAN PPSF

809

543

11%

SOLD LISTINGS

Sales activity increased by 11%, making it one of the few regions with more sales in 2023. This was also the most significant increase in the southeast region.

$324 ACTIVE LISTINGS

MARKET DATA FOR SINGLE-FAMILY, HOMES, $500,000+

NEIGHBORHOOD SNAPSHOTS

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

BARRIER ISLAND

$1,250,100

$1,435,000

-13%

MAINLAND VERO BEACH

$635,000

$625,000

SEBASTIAN/ FELLSMERE

$600,000

$589,000

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$478

-5%

271

14%

106

2%

$269

2%

343

1%

88

2%

$283

3%

35

0%

96

2023

4%

89

AVG. DAYS ON MARKET

45%

46%

CONDOMINIUMS

Indian River County

$785K

SALES ACTIVITY UP

1%

MEDIAN SALES PRICE

MEDIAN PPSF

239

166

19%

SOLD LISTINGS

Sales activity increased by 11%, making it one of the few regions with more sales in 2023. This was also the most significant increase in the southeast region.

$446 ACTIVE LISTINGS

MARKET DATA FOR CONDOMINIUMS, $500,000+

NEIGHBORHOOD SNAPSHOTS

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

BARRIER ISLAND

$825,000

$850,000

-3%

MAINLAND VERO BEACH

$716,352

$615,000

SEBASTIAN/ FELLSMERE

$550,000

N/A

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$473

1%

165

9%

95

16%

$331

2%

46

21%

100

N/A

$349

N/A

3

N/A

49

2023

1%

92

AVG. DAYS ON MARKET

82%

73%

NEIGHBORHOOD SNAPSHOTS

SINGLE-FAMILY HOMES

Brevard County HOMES MOVE QUICKLY The average number of days a home spent on the market remained the lowest in the southeastern region despite a moderate increase in 2023.

$655K MEDIAN SALES PRICE

39

65%

AVG. DAYS ON MARKET

675

1%

$283

2%

MEDIAN PPSF

2,171 SOLD LISTINGS

24%

ACTIVE LISTINGS

MARKET DATA FOR SINGLE-FAMILY HOMES, $500,000+

4%

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

COCOA

$633,000

$630,000

0%

COCOA BEACH

$810,000

$810,000

GRANT

$690,000

INDIALANTIC

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$271

9%

50

-31%

38

0%

$467

11%

93

-15%

49

$674,000

2%

$304

6%

33

-18%

66

$745,000

$745,000

0%

$328

-2%

143

23%

40

MALABAR

$607,500

$614,000

-1%

$269

1%

44

-4%

48

MELBOURNE

$640,675

$639,450

0%

$270

3%

746

10%

30

MELBOURNE BEACH

$845,000

$901,000

-6%

$398

3%

129

-17%

57

MERRITT ISLAND

$665,000

$650,000

2%

$277

4%

305

-17%

48

MIMS

$615,000

$609,950

1%

$267

5%

31

-24%

71

PALM BAY

$589,500

$545,536

8%

$228

8%

83

-19%

30

ROCKLEDGE

$640,000

$653,250

-2%

$278

0%

165

2%

36

SATELLITE BEACH & INDIAN HARBOUR BEACH

$669,000

$659,450

1%

$343

2%

207

-5%

37

TITUSVILLE

$575,500

$585,000

-2%

$215

-1%

60

-25%

45

WEST MELBOURNE

$562,500

$560,000

0%

$214

-2%

46

2%

33

2023

NEIGHBORHOOD SNAPSHOTS

CONDOMINIUMS

Brevard County INVENTORY INCREASES Condo inventory increased in 2023, and fewer homes were sold, fueling a modest drop in pricing.

$650K MEDIAN SALES PRICE

66

17%

AVG. DAYS ON MARKET

210

2%

$402 MEDIAN PPSF

373 SOLD LISTINGS

42%

ACTIVE LISTINGS

MARKET DATA FOR CONDOMINIUMS, $500,000+

19%

1%

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

COCOA

$595,000

$700,000

-15%

COCOA BEACH

$640,000

$650,000

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$289

-13%

17

-19%

53

-2%

$414

0%

101

-18%

53

N/A

N/A

N/A

N/A

-

N/A

N/A

$745,000

$750,000

-1%

$436

2%

55

4%

104

N/A

$885,000

N/A

N/A

N/A

-

N/A

N/A

MELBOURNE

$620,000

$659,900

-6%

$308

0%

12

-74%

93

MELBOURNE BEACH

$949,450

$749,000

27%

$462

13%

34

-36%

106

MERRITT ISLAND

$558,000

$530,000

5%

$249

-3%

11

57%

44

N/A

N/A

N/A

N/A

-

N/A

N/A

GRANT INDIALANTIC MALABAR

MIMS

N/A

N/A

2023

PALM BAY

$610,000

$560,000

9%

$217

-6%

2

100%

37

ROCKLEDGE

$891,500

$640,000

39%

$313

5%

1

-50%

36

SATELLITE BEACH & INDIAN HARBOUR BEACH

$798,500

$749,950

6%

$438

1%

80

-2%

51

TITUSVILLE

$544,900

$569,450

-4%

$296

12%

22

38%

69

N/A

N/A

N/A

N/A

-

N/A

N/A

WEST MELBOURNE

N/A

ALL RESIDENTIAL

Flagler County

$670K

2%

MEDIAN SALES PRICE

1,035

HIGHER PRICED HOMES SALES INCREASE

121

4%

ACTIVE LISTINGS

MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+

NEIGHBORHOOD SNAPSHOTS

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

BUNNELL

$671,500

$785,000

-14%

FLAGLER BEACH

$730,000

$715,000

PALM COAST

$675,000

$660,000

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$275

28%

12

71%

79

2%

$364

-2%

97

-4%

76

2%

$308

1%

483

-14%

63

2023

63

AVG. DAYS ON MARKET

MEDIAN PPSF

SOLD LISTINGS

Sales of homes priced greater than $1 million increased by 15%. The most homes priced greater than $3 million sold in 2023.

$309

1%

57%

70%

NEIGHBORHOOD SNAPSHOTS

ALL RESIDENTIAL

St. Johns County PRICING TICKS UP The median price rose slightly compared with the prior year.

Though inventory increased, it did so by the smallest amount in the region.

$690K MEDIAN SALES PRICE

72

77%

AVG. DAYS ON MARKET

323

2%

$285

2%

MEDIAN PPSF

4,261 SOLD LISTINGS

23%

ACTIVE LISTINGS

MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+

8%

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

JULINGTON CREEK AREA

$665,262

$665,525

0%

NOCATEE

$765,000

$715,000

PONTE VEDRA BEACH

$1,225,000

SOUTHEAST ST JOHNS COUNTY

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$239

1%

581

-10%

65

7%

$311

4%

523

-20%

59

$1,187,500

3%

$421

3%

457

-4%

66

$665,000

$686,000

-3%

$392

1%

348

-6%

77

ST AUGUSTINE BEACHES/ANASTASIA ISLAND

$642,500

$615,000

4%

$325

9%

96

-31%

67

ST JOHNS

$640,000

$615,000

4%

$248

2%

637

12%

101

SOUTHWEST ST JOHNS COUNTY

$589,000

$590,000

0%

$246

1%

43

-27%

80

ST AUGUSTINE/VILANO BEACH

$715,000

$713,960

0%

$330

11%

212

-25%

73

WORLD GOLF VILLAGE AREA/PALENCIA

$616,280

$619,495

-1%

$233

-1%

510

7%

66

2023

ALL RESIDENTIAL

Clay County

$595K

SALES SLOW

2%

MEDIAN SALES PRICE

MEDIAN PPSF

428

29

17%

SOLD LISTINGS

Sales activity decreased by 17% in 2023. This was the most significant decline in the northeast region.

$212 ACTIVE LISTINGS

MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+

NEIGHBORHOOD SNAPSHOTS

MEDIAN SALES PRICE

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

FLEMING ISLAND

$610,000

$605,000

1%

GREEN COVE SPRINGS

$607,343

$621,000

MIDDLEBURG/ KEYSTONE

$599,004

ORANGE PARK OAKLEAF PLANTATION

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$218

4%

124

-41%

48

-2%

$223

-3%

78

39%

53

$610,927

-2%

$220

2%

97

9%

64

$597,500

$600,000

0%

$192

5%

32

14%

82

$549,700

$610,000

-10%

$173

-2%

55

-27%

48

2023

61%

4%

57

AVG. DAYS ON MARKET

45%

NEIGHBORHOOD SNAPSHOTS

ALL-RESIDENTIAL

Duval County PRICES INCREASE The median price increased by 3% in 2023. Sales of homes in the $1 million to $3 million range increased by 11%.

$680K MEDIAN SALES PRICE

62

58%

AVG. DAYS ON MARKET

157

3%

$286 SOLD LISTINGS

39%

ACTIVE LISTINGS

MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+

9%

MEDIAN PRICE PER SF

2023

2022

YOY% CHANGE

ARLINGTON/FORT CAROLINE

$605,000

$614,000

-1%

AVONDALE/RIVERSIDE/ ORTEGA

$662,500

$632,500

BARTRAM

$565,000

BEACHES

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

$213

-4%

83

12%

68

5%

$304

4%

160

-14%

61

$542,500

4%

$196

2%

37

-16%

36

$769,750

$790,500

-3%

$437

5%

524

-4%

55

BEAUCLERC/ MANDARIN

$600,000

$592,500

1%

$222

0%

212

-20%

71

DOWNTOWN JACKSONVILLE

$537,000

$591,000

-9%

$237

0%

17

89%

77

INTRACOASTAL

$731,076

$681,822

7%

$284

5%

748

-4%

65

NOCATEE (DUVAL)

$526,409

$531,397

-1%

$226

0%

21

5%

80

NORTH JACKSONVILLE

$604,500

$600,000

1%

$222

6%

82

-24%

81

SAN MARCO/SAN JOSE

$744,495

$750,000

-1%

$304

10%

118

-9%

58

SOUTHSIDE

$627,500

$585,000

7%

$231

0%

138

-18%

59

WEST JACKSONVILLE

$559,900

$575,000

-3%

$213

-8%

37

-18%

68

5%

MEDIAN PPSF

2,287

MEDIAN SALES PRICE

2023

ALL RESIDENTIAL

Nassau County

$719K

3%

MEDIAN SALES PRICE

FEWER SALES BUT HIGHER PRICES

1,348

The median price increased by 3% in 2023, even as closed sales fell by 4%.

SOLD LISTINGS

$334 133

4%

ACTIVE LISTINGS

NEIGHBORHOOD SNAPSHOTS

2023

MEDIAN PRICE PER SF

2022

YOY% CHANGE

2023

CLOSED TRANSACTIONS

DAYS ON MARKET

YOY% CHANGE

2023

YOY% CHANGE

2023

NASSAU COUNTY

$719,375

$699,900

3%

$334

12%

1,348

-4%

67

AMELIA ISLAND/ FERNANDINA BEACH

$750,000

$720,000

4%

$365

8%

725

-12%

63

YULEE/WILDLIGHT

$620,000

$630,000

-2%

$244

-7%

46

-2%

95

67

AVG. DAYS ON MARKET

MEDIAN PPSF

MARKET DATA FOR RESIDENTIAL PROPERTIES, $500,000+

MEDIAN SALES PRICE

12%

64%

64%