LUXURY MARKET REPORT BROWARD COUNTY | FORT LAUDERDALE | MIAMI | BOCA RATON MA Y 202 4
ALEXA ROSARIO
REALTOR®, Institute for Luxury Home Marketing Member eXp Realty
Fun fact: my name means servant of humanity.
Maybe that’s why I’ve always been so passionate about helping people reach their goals.
I’ve been in South Florida since 2008 and have been selling real estate since 2013.
As a community activist, I leverage my relationships on behalf of my clients to bring a concierge level experience to the real estate relationship.
I’ve curated a network of professionals across all industries to deliver high end services so you benefit from the community of experts and professionals I’ve built for you.
When representing clients, they benefit from my social media presence and agent relationships to help achieve their goals.
At the end of the day, I’m in the business of creating forever clients and friends while also helping you build your family’s generational wealth through real estate.
Community Involvement and Leadership
• Keller Williams Central Agent Leadership Council (2019-2020)
• Junior League Member & Former Committee Chair
• Tower Club Member & Emerging Executives Committee Chair
• Fort Lauderdale Chamber of Commerce Member & Government Affairs Council Member
• Founder of BNI Luxury
• Institute for Luxury Home Marketing Member
• Founder of the Agent Anticlass Series
Seen In
• Yahoo Finance
• VoyageMIA
• Fort Lauderdale Beach Media
• TheMortgageReports
• Lifestyle Magazine
• South Florida Business & Wealth
954.557.6642 info@alexarosario www.AlexaRosario.com
TABLE OF CONTENTS
PAGE 4 LUXURY REPORT EXPLAINED
PAGE 5 WELCOME MESSAGE
PAGE 6-9 NORTH AMERICAN LUXURY MARKET REVIEW
PAGE 10 13 MONTH MARKET TRENDS
PAGE 11 SINGLE FAMILY HOMES MONTHLY OVERVIEW
PAGE 12 ATTACHED HOMES MONTHLY OVERVIEW
PAGE 13-16 MONTHLY STATISTICS BY CITY
PAGE 18 BROWARD COUNTY LUXURY MARKET REVIEW
PAGE 23 GREATER FORT LAUDERDALE LUXURY MARKET REVIEW
PAGE 28 MIAMI LUXURY MARKET REVIEW
PAGE 33 BOCA RATON & DELRAY BEACH LUXURY MARKET REVIEW
PAGE 38 THANK YOU
– LUXURY REPORT EXPLAINED –
The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report.
Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes.
It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well.
Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.
By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher.
A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
REPORT GLOSSARY
DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.
LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes.
NEW LISTINGS: The number of homes that entered the market during the current month.
PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.
SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. A Buyer's Market has a Sales Ratio of less than 12%; a Balanced Market has a ratio of 12% up to 21%; a Seller's Market has a ratio of 21% or higher. A Sales Ratio greater than 100% indicates the number of sold listings exceeds the number of listings available at the end of the month.
SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
REMAINING INVENTORY: The total number of homes available at the close of a month.
MAP OF LUXURY RESIDENTIAL MARKETS
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
Copyright © 2023 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000
The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been provided by REAL Marketing, who has compiled the data through various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.
THIS IS YOUR LUXURY
MARKET REPORT W
NORTH AMERICAN LUXURY REVIEW
The
Evolving Path of Luxury Real Estate
In recent years, the high-end housing market has seen significant growth and transformation, with new trends and developments as well as historic levels of demand shaping the industry.
As we move into the height of the 2024 spring market, we review the way the market is trending statistically and investigate how the luxury real estate segment continues to evolve and adapt to changing consumer demands, technological advancements, and economic factors.
Consistent Demand
Despite lingering uncertainty outside the luxury real estate market, the increasing level of inventory and number of sales, combined with the steadiness of prices, has resulted in a display of consistent demand for luxury properties during the first four months of 2024.
The number of sold luxury properties has risen both month over month since the start of 2024 as well as monthly in comparison to 2023. April’s figures for single-family homes have more than doubled, increasing by 104.4% since January and by 32.1% compared to April 2023. Attached homes have risen a little less, at 86.5% since January, but by 32.4% compared to April 2023.
This sales trend has been greatly assisted by the increased level of new inventory entering the market, up by 160% since January and by 37.5% compared to April 2023 for single-family homes. Attached home inventory saw a much slower increase over the last four months of only 18.4%; however, year over year, there was an increase of 44.4%. These increases are a clear indicator that, in general, sellers have become more confident that their luxury home will sell.
While an increase in new inventory has resulted in a greater number of sales, the significant increase of sales and new inventory proves that the demand for luxury properties continues, enabling the market to remain strong.
Sold prices also indicate stability in the current market overall; the monthly median price for both single-family and attached properties has barely shifted. But more significantly, the homes being
Evolving Expectations and Preferences
sold are very close to their list price, with the return of the SP/LP ratio in the 99% percentile range for the first time in a year.
Positive Outlook and Predictions
Industry experts agree that the luxury real estate market will experience continued growth in 2024, with many predicting the trend to continue into the next few years. Despite fluctuations in the global economy, the demand for high-end properties remains strong, with the U.S. and Canada being prime markets for luxury real estate investment.
Factors contributing to the positive outlook include:
• An increase in wealthy individuals and families seeking upscale properties.
• Foreign investors looking for safe and stable investments.
• A rise in international buyers attracted to the North American lifestyle and world-renowned prestigious neighborhoods.
• Technological advancements driving innovation and enhancing the luxury home experience.
• The resilience of the luxury market during times of economic uncertainty.
The luxury property market encompasses a variety of high-end residential options, including luxury homes, penthouses, condominiums, and expansive estates. This segment offers luxurious amenities, stunning views, and exceptional craftsmanship, catering to buyers in search of elegance and refinement.
However, one of the primary reasons behind the sustained strength of the luxury market is the continuously evolving expectations and preferences of affluent consumers. Over the past few years, their changing decisions have had significant impacts on the luxury real estate landscape, and it is these influences that are reshaping the market once again.
The emerging trends in the market suggest a shift towards creating spaces that offer more than just luxury; they are about curating experiences that align with the profound values and lifestyles of discerning clientele.
It is predicted that the luxury homes of the future will integrate sustainability, cultural richness,
personalization, and social responsibility, transcending conventional concepts. Essentially, sellers of high-end real estate market in 2024 and beyond, should start to provide unique, immersive experiences that deeply resonate with individuals seeking more than just a residence but a reflection of their ideals and aspirations.
Exclusive and Tailored
A major trend in luxury real estate is the concept of a curated lifestyle. The growing market for personal luxury goods is not only influencing fashion but also reshaping the luxury real estate sector.
Similar to the bespoke services offered by high-end fashion houses, future luxury homes may offer even more extensive customization options, allowing buyers to personalize all aspects of their property. This trend acknowledges the desire for a more tailored living experience, where homes reflect individual tastes and needs. Additionally, these homes are expected to be designed with adaptability in mind, capable of evolving to accommodate various life stages or changing needs, blending luxury with practicality.
Inspiring and Reflective Architecture
The increasing interconnectedness of our world is influencing luxury real estate, leading to the emergence of a ‘cultural fusion’ style. This trend involves blending architectural and interior design elements from various cultures, creating homes that are not only luxurious but also culturally rich. Ultra-luxury homes will appeal to a globally minded demographic that values and appreciates cultural diversity and richness.
The luxury real estate market is also increasingly mirroring trends in luxury hospitality, emphasizing culturally enriched experiences. This approach blends local heritage with global design influences, resulting in unique, destination-specific luxury experiences now embraced in residential properties.
Whether located near established global landmarks, a remote destination, or in a new development by a celebrated architect, the affluent are looking for bespoke design elements and innovative features.
It seems that since remote work is here to stay, buyers have been paying even more attention to the architecture and layout of a home.
Blending Luxury and Sustainability
The shift towards intentional and sustainable architecture is also reflected in interior design trends. Energy-efficient buildings, sustainable materials, and green living are prioritized by homebuyers.
Future kitchens are envisioned as culinary masterpieces designed for gourmet enthusiasts, featuring professional-grade amenities and immersive dining experiences. In these luxury residences, the kitchen evolves into the heart of the household, blending the art of cooking with the warmth of home, creating an indulgent yet welcoming environment.
Currently, luxury real estate blends sustainability with luxury, integrating natural elements, advanced technology, and eco-friendly amenities. In the future, homes will also be designed to include private natural reserves and innovative, eco-friendly amenities like private natural reserves, eco-friendly water transportation systems, and services with zero-carbon footprints.
Privacy and Security
Privacy and security are increasingly important for luxury buyers, leading to a trend towards creating exclusive enclaves offering seclusion and safety. This exclusivity will also ensure tranquility and isolation which are highly valued by those seeking refuge from the public eye.
Luxury developments incorporate amenities like private clubs and wellness centers, maximizing privacy and minimizing the need for residents to venture into public spaces. Properties in remote or exclusive locations are also in high demand because they can offer a perfect blend of tranquility and spectacular views.
As the luxury real estate market continues to thrive and adapt to changing preferences and trends, staying informed and working with a trusted professional will be key for affluent home buyers and sellers. These luxury advisors keep a pulse on the emerging trends which allows their clients to make informed decisions and seize opportunities in this dynamic and exciting market.
– 13 - MONTH MARKET TRENDS –
FOR THE LUXURY NORTH AMERICAN MARKET
Single-Family Homes Attached Homes Single-Family List Price Attached List Price
All data is based off median values. Median prices represent properties priced above respective city benchmark prices.
$1,900,000
$1,700,000
$1,500,000
$1,300,000
$1,100,000
$900,000
$700,000
$500,000
DAYS ON MARKET SALES
PRICE VS. LIST PRICE
0 5 10 15 20 25 30 35 40 45 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR SALES RATIO 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR
APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 21% 12% Seller's Balanced Buyer's
– LUXURY MONTHLY MARKET REVIEW –
A Review of Key Market Differences Year over Year
April 2023 | April 2024
SINGLE-FAMILY HOMES
New Listings Total Sold
SINGLE-FAMILY HOMES MARKET SUMMARY | APRIL 2024
• Official Market Type: Seller's Market with a 30.24% Sales Ratio.1
• Homes are selling for an average of 99.04% of list price.
• The median luxury threshold2 price is $912,500, and the median luxury home sales price is $1,251,700.
• Markets with the Highest Median Sales Price: Telluride ($6,950,000), Vail ($6,900,000), Lake Tahoe ($5,587,500), and Naples ($4,000,000).
• Markets with the Highest Sales Ratio: East Bay (144.1%), Howard County, MD (103.1%), King County, WA (88.1%), and Silicon Valley (82.9%).
1
Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
Median List Price $1,697,375 $1,536,225 Median Sale Price $1,300,000 $1,251,700 Median SP/LP Ratio 99.18% 99.04% Total Sales Ratio 29.18% 30.24% Median Price per Sq. Ft. $395 $404 Total Inventory 49,555 63,272 New Listings 17,761 24,459 Total Sold 14,461 19,136 Median Days on Market 17 19 Average Home Size 3,247 3,176
prices represent properties priced above respective city benchmark prices. April 2024 April 2023 April 2024 April 2023
Median
4,675
$48k
Med. Sale Price
6,698 Days on Market
2 Sales Ratio
1.06%
A Review of Key Market Differences Year over Year
April 2023 | April 2024
2,652
ATTACHED HOMES MARKET SUMMARY | APRIL 2024
• Official Market Type: Seller's Market with a 24.38% Sales Ratio. 1
• Attached homes are selling for an average of 99.08% of list price.
• The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $858,000
• Markets with the Highest Median Sales Price: Manhattan ($4,012,500), Vail ($3,525,000), Naples ($2,480,000), and San Francisco ($2,371,500).
• Markets with the Highest Sales Ratio: Howard County, MD (217.6%), Fairfax County, VA (188.7%), Arlington & Alexandria (145.8%), and Anne Arundel County (124.1%).
Median List Price $968,900 $995,000 Median Sale Price $850,000 $858,000 Median SP/LP Ratio 99.17% 99.08% Total Sales Ratio 24.84% 24.38% Median Price per Sq. Ft. $478 $508 Total Inventory 18,113 24,395 New Listings 5,998 8,650 Total Sold 4,500 5,947 Median Days on Market 18 21 Average Home Size 1,935 1,863
–LUXURY MONTHLY MARKET REVIEW –Median prices represent properties priced above respective city benchmark prices.
April 2024 April 2023 April 2024 April 2023
ATTACHED HOMES New Listings
Total Sold
Med. Sale Price $8k Days on Market 3 Sales Ratio 0.46% 1Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
1,447
–LUXURY MONTHLY MARKET REVIEW –
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars. SINGLE FAMILY HOMES ATTACHED HOMES State Market Name List Price Sold Price DOM Ratio Market List Price Sold Price DOM Ratio Market AB Calgary - - - - - - - - -AZ Chandler and Gilbert $1,076,000 $1,020,000 30 45.6% Seller's - - - -AZ Flagstaff $1,500,000 $1,282,500 87 16.4% Balanced - - - -AZ Fountain Hills $2,648,500 $2,125,000 28 15.8% Balanced $665,000 $637,250 28 32.0% Seller's AZ Mesa $869,900 $885,000 38 30.6% Seller's - - - -AZ Paradise Valley $6,425,500 $3,962,500 93 17.0% Balanced - - - -AZ Phoenix $899,107 $845,000 46 39.3% Seller's - - - -AZ Scottsdale $2,295,000 $1,800,000 48 25.7% Seller's $898,500 $810,000 49 25.7% Seller's AZ Tucson $724,990 $660,000 19 34.9% Seller's - - - -BC Okanagan Valley $1,765,000 $1,470,000 36 4.6% Buyer's - - - -BC Vancouver $4,188,000 $3,362,500 10 8.7% Buyer's $1,898,000 $1,739,000 11 10.4% Buyer's BC Victoria - - - - - - - - -BC Whistler $5,343,500 - - 0.0% Buyer's $2,569,000 $1,990,000 31 9.8% Buyer's CA Central Coast $2,945,000 $2,500,000 12 24.6% Seller's $1,262,500 $1,112,500 9 55.6% Seller's CA East Bay $2,389,000 $2,000,000 8 144.1% Seller's $1,148,000 $1,094,000 8 109.6% Seller's CA Greater Palm Springs $1,975,000 $1,725,000 44 25.1% Seller's - - - -CA Lake Tahoe $2,712,000 $1,695,000 41 19.1% Balanced $1,512,000 $1,822,500 109 13.6% Balanced CA Los Angeles Beach Cities $5,972,500 $3,370,000 21 16.3% Balanced $1,950,000 $1,700,000 24 37.9% Seller's CA Los Angeles City $4,837,500 $3,437,500 21 16.5% Balanced $1,725,000 $1,507,000 26 22.9% Seller's CA Los Angeles The Valley $2,795,000 $2,100,000 34 27.9% Seller's $798,000 $805,000 31 64.0% Seller's CA Marin County $3,500,000 $2,947,500 10 34.7% Seller's $1,197,000 $1,220,000 24 58.3% Seller's CA Napa County $3,400,000 $2,365,000 40 12.6% Balanced - - - -CA Orange County $3,420,000 $2,165,000 16 55.6% Seller's $1,392,500 $1,106,750 17 87.9% Seller's CA Placer County $1,250,000 $1,059,990 12 41.3% Seller's - - - -CA Sacramento $950,994 $905,500 10 47.2% Seller's - - - -CA San Diego $2,475,000 $1,950,000 9 46.9% Seller's $1,299,500 $1,010,000 8 51.7% Seller's CA San Francisco $4,650,000 $3,326,500 12 62.7% Seller's $2,995,000 $2,371,500 19 19.1% Balanced CA San Luis Obispo County $1,795,000 $1,467,500 20 28.8% Seller's - - - -CA Silicon Valley $4,592,500 $3,276,000 8 82.9% Seller's $1,724,000 $1,630,000 7 69.6% Seller's CA Sonoma County $2,500,000 $1,765,280 24 16.4% Balanced $777,098 $730,000 24 40.9% Seller's CA Ventura County $2,485,000 $1,800,000 41 31.1% Seller's $765,000 $760,000 43 73.7% Seller's CO Boulder $2,250,000 $1,650,000 39 30.4% Seller's $979,000 $850,000 34 20.9% Balanced CO Colorado Springs $932,114 $887,250 12 34.3% Seller's $562,000 $550,000 19 29.2% Seller's CO Denver $1,600,000 $1,355,000 8 35.8% Seller's $850,000 $782,000 8 30.3% Seller's CO Douglas County $1,295,000 $1,125,500 14 30.2% Seller's $605,000 $622,000 11 59.7% Seller's CO Durango - - - - - - - - -CO Summit County $3,287,000 $2,679,500 10 17.6% Balanced $1,260,000 $1,349,000 48 14.5% Balanced CO Telluride $6,700,000 $6,950,000 229 13.6% Balanced $4,000,000 $2,295,000 109 11.6% Buyer's CO Vail $7,475,000 $6,900,000 185 14.6% Balanced $3,495,000 $3,525,000 18 30.2% Seller's
–LUXURY MONTHLY MARKET REVIEW –
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
SINGLE FAMILY HOMES ATTACHED HOMES State Market Name List Price Sold Price DOM Ratio Market List Price Sold Price DOM Ratio Market CT Central Connecticut $699,000 $630,000 5 53.1% Seller's - - - -CT Coastal Connecticut $2,250,000 $1,827,500 17 31.3% Seller's $992,707 $850,000 14 47.1% Seller's DC Washington D.C. $4,372,500 $2,805,000 28 19.4% Balanced $1,830,000 $1,527,072 11 25.3% Seller's DE Sussex County Coastal $1,512,500 $1,249,500 9 20.5% Balanced $1,100,000 $947,500 8 72.0% Seller's FL Boca Raton/Delray Beach $2,674,000 $1,850,000 79 18.3% Balanced $1,100,000 $750,000 45 20.7% Balanced FL Brevard County $834,950 $800,000 28 27.9% Seller's $699,900 $767,000 34 13.4% Balanced FL Broward County $1,730,000 $1,412,500 47 15.4% Balanced $699,000 $614,250 52 10.6% Buyer's FL Coastal Pinellas County $2,000,000 $2,185,000 36 19.5% Balanced $1,200,000 $1,180,000 23 16.8% Balanced FL Ft. Lauderdale $5,500,000 $3,939,000 134 8.9% Buyer's $2,399,450 $2,050,000 137 5.6% Buyer's FL Jacksonville Beaches $1,299,000 $1,202,000 22 25.9% Seller's $999,999 $1,250,000 16 28.4% Seller's FL Lee County $1,400,000 $1,250,000 39 15.2% Balanced $850,000 $836,000 38 14.9% Balanced FL Marco Island $2,800,000 $2,407,500 90 17.3% Balanced $1,699,000 $1,837,500 65 18.0% Balanced FL Miami $2,043,000 $1,400,000 57 11.5% Buyer's $1,479,000 $1,300,000 73 8.4% Buyer's FL Naples $5,525,000 $4,000,000 40 9.0% Buyer's $2,395,000 $2,480,000 31 29.2% Seller's FL Orlando $1,299,900 $1,160,000 26 21.6% Seller's $560,000 $559,500 22 15.8% Balanced FL Palm Beach Towns $4,495,000 $2,750,000 78 17.6% Balanced $1,999,000 $1,494,000 47 14.7% Balanced FL Sarasota & Beaches $2,525,000 $1,871,500 34 13.8% Balanced $1,625,000 $1,400,000 41 19.6% Balanced FL South Pinellas County $1,499,900 $1,325,000 27 21.9% Seller's $1,000,000 $1,052,500 42 19.2% Balanced FL South Walton $2,497,000 $2,045,000 42 11.5% Buyer's $1,250,000 $1,537,500 66 11.6% Buyer's FL Tampa $750,000 $705,000 17 27.6% Seller's $899,000 $642,500 41 20.5% Balanced GA Atlanta $1,690,000 $1,197,500 5 28.9% Seller's $729,450 $672,750 19 29.5% Seller's GA Duluth $1,474,000 $1,001,000 5 42.3% Seller's - - - -HI Island of Hawaii $1,992,500 $1,999,999 61 17.5% Balanced $1,700,000 $1,820,000 7 54.1% Seller's HI Kauai $2,915,000 $1,787,000 53 14.2% Balanced $1,472,500 $1,490,000 13 26.0% Seller's HI Maui $3,748,000 $2,250,000 75 14.6% Balanced $1,989,000 $1,850,000 120 18.8% Balanced HI Oahu $2,590,000 $2,300,000 17 51.8% Seller's $995,000 $935,500 40 55.6% Seller's IA Greater Des Moines $650,000 $627,250 23 16.0% Balanced - - - -ID Ada County $824,945 $725,000 7 45.3% Seller's $623,500 $624,950 19 26.4% Seller's ID Northern Idaho $1,729,000 $1,350,000 65 10.6% Buyer's - - - -IL Chicago $1,699,500 $1,250,000 11 44.8% Seller's $1,224,999 $925,000 18 26.9% Seller's IL DuPage County $1,299,000 $913,050 7 65.3% Seller's $766,750 $630,000 4 32.1% Seller's IL Lake County $1,349,000 $899,500 7 40.8% Seller's - - - -IL Will County $676,500 $630,500 8 59.1% Seller's - - - -IN Hamilton County $825,000 $830,000 5 67.2% Seller's - - - -KS Johnson County $824,212 $821,750 8 28.4% Seller's $656,252 $621,278 9 23.1% Seller's MA Cape Cod $2,450,000 $1,625,000 37 22.4% Seller's $1,037,500 $899,999 23 17.3% Balanced MA Greater Boston $3,739,500 $2,850,000 33 22.9% Seller's $2,399,000 $2,142,500 20 16.3% Balanced MA South Shore $1,949,500 $1,480,000 22 48.6% Seller's $899,000 $818,000 31 30.3% Seller's MD Anne Arundel County $1,225,000 $949,000 6 75.2% Seller's $613,000 $577,995 6 124.1% Seller's
–LUXURY MONTHLY MARKET REVIEW –
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
SINGLE FAMILY HOMES ATTACHED HOMES State Market Name List Price Sold Price DOM Ratio Market List Price Sold Price DOM Ratio Market MD Baltimore City $1,104,750 $820,000 3 60.0% Seller's $669,000 $575,000 9 38.5% Seller's MD Baltimore County $1,200,000 $899,950 5 37.6% Seller's $616,985 $552,000 5 95.5% Seller's MD Frederick County $925,000 $878,000 4 25.6% Seller's - - - -MD Howard County $1,189,000 $1,142,000 5 103.1% Seller's $699,990 $664,825 5 217.6% Seller's MD Montgomery County $2,011,448 $1,585,000 6 80.6% Seller's $865,000 $747,500 6 103.8% Seller's MD Talbot County $3,200,000 $1,787,500 13 25.0% Seller's - - - -MD Worcester County $912,000 $945,000 36 19.4% Balanced $650,000 $642,500 27 25.7% Seller's MI Grand Traverse $1,175,829 $922,500 43 18.6% Balanced - - - -MI Livingston County $729,900 $690,000 6 34.0% Seller's - - - -MI Monroe County $699,000 $625,500 43 31.6% Seller's - - - -MI Oakland County $849,000 $672,000 9 44.0% Seller's $649,900 $577,500 15 47.3% Seller's MI Washtenaw County $900,000 $795,000 26 40.1% Seller's $692,450 $636,773 53 48.1% Seller's MI Wayne County $699,999 $625,000 8 63.4% Seller's $739,000 $595,500 10 16.9% Balanced MN Olmsted County $859,900 $804,950 88 16.8% Balanced - - - -MN Twin Cities $1,299,999 $994,500 15 23.4% Seller's - - - -MO Kansas City $725,000 $658,000 7 32.2% Seller's - - - -MO St. Louis $749,000 $657,500 6 72.4% Seller's - - - -NC Asheville $1,095,000 $900,000 6 24.2% Seller's $679,900 $700,000 21 25.5% Seller's NC Charlotte $1,290,000 $954,000 3 57.3% Seller's $631,248 $705,500 19 41.9% Seller's NC Lake Norman $1,335,250 $975,000 16 30.6% Seller's $585,000 $739,500 5 33.3% Seller's NC Raleigh-Durham $1,287,500 $980,000 3 57.2% Seller's - - - -NH Rockingham County $1,399,900 $1,475,000 8 41.1% Seller's $893,000 $949,000 7 43.6% Seller's NJ Bergen County $2,690,000 $1,780,000 20 20.2% Balanced $1,295,000 $1,175,000 37 36.4% Seller's NJ Morris County - - - - - - - - -NJ Ocean County $974,950 $910,000 31 24.9% Seller's $924,900 $815,000 74 38.0% Seller's NM Taos $1,300,000 $1,023,210 116 7.4% Buyer's - - - -NV Lake Tahoe $3,995,000 $5,587,500 100 8.4% Buyer's $1,300,000 $1,150,000 37 36.8% Seller's NV Las Vegas $1,850,000 $1,420,000 28 23.6% Seller's - - - -NV Reno $2,537,500 $1,558,121 54 19.6% Balanced - - - -NY Dutchess & Putnam Counties $995,000 $917,000 29 11.0% Buyer's - - - -NY Manhattan - - - - - $4,650,000 $4,012,500 143 5.0% Buyer's NY Nassau County $1,913,300 $1,452,500 49 17.0% Balanced $1,525,800 $1,385,000 32 17.1% Balanced NY Rockland, Orange, & Ulster $1,250,000 $1,074,500 40 15.7% Balanced - - - -NY Staten Island $1,198,888 $975,000 95 11.3% Buyer's $637,500 $610,000 62 26.6% Seller's NY Suffolk County $1,975,000 $1,200,000 59 12.3% Balanced $775,000 $649,000 17 30.3% Seller's NY Westchester County $2,149,000 $1,455,000 14 28.8% Seller's - - - -OH Cincinnati $869,950 $775,000 2 37.2% Seller's - - - -OH Cleveland Suburbs $739,900 $592,500 26 71.4% Seller's - - - -OH Columbus $874,950 $740,000 5 44.8% Seller's $666,950 $639,950 12 38.9% Seller's
–LUXURY MONTHLY MARKET REVIEW –
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
SINGLE FAMILY HOMES ATTACHED HOMES State Market Name List Price Sold Price DOM Ratio Market List Price Sold Price DOM Ratio Market ON GTA - Durham $1,794,000 $1,495,000 9 21.6% Seller's $829,990 $840,000 10 48.5% Seller's ON GTA - York $2,488,000 $1,930,000 12 26.1% Seller's $799,950 $790,000 18 30.7% Seller's ON Hamilton $1,850,000 $1,650,000 23 14.5% Balanced $1,012,200 $858,000 18 22.5% Seller's ON Mississauga $2,999,000 $2,562,500 14 18.3% Balanced $997,000 $911,000 15 36.9% Seller's ON Oakville $2,998,000 $2,297,500 13 36.5% Seller's $1,199,500 $1,293,500 16 26.3% Seller's ON Toronto $3,880,000 $3,160,425 8 24.2% Seller's $1,249,900 $1,115,000 14 20.4% Balanced ON Waterloo Region $1,450,000 $1,251,700 9 28.0% Seller's $775,000 $752,500 13 20.7% Balanced OR Portland $1,375,000 $1,175,000 13 29.6% Seller's $665,000 $653,250 26 14.5% Balanced SC Charleston $1,850,000 $1,575,000 14 34.4% Seller's $1,175,000 $965,000 22 35.3% Seller's SC Hilton Head $1,950,000 $1,490,000 30 25.1% Seller's $999,000 $897,500 8 34.0% Seller's TN Greater Chattanooga $950,000 $865,000 9 20.3% Balanced - - - -TN Knoxville $949,900 $928,098 12 35.1% Seller's - - - -TN Nashville $1,782,000 $1,400,000 7 28.6% Seller's $750,000 $675,000 11 15.7% Balanced TX Austin $1,299,000 $1,065,000 21 22.5% Seller's $850,000 $835,000 39 12.9% Balanced TX Collin County $750,000 $706,000 13 35.0% Seller's - - - -TX Dallas $1,354,500 $1,245,000 9 37.5% Seller's $694,900 $707,250 25 22.4% Seller's TX Denton County $827,588 $750,000 15 32.0% Seller's - - - -TX El Paso $645,450 $583,244 12 8.2% Buyer's - - - -TX Fort Worth $895,000 $821,000 11 36.1% Seller's - - - -TX Greater Tyler $681,950 $607,950 61 11.2% Buyer's - - - -TX Houston $988,000 $900,000 31 32.5% Seller's $600,000 $630,000 27 34.1% Seller's TX Lubbock $699,900 $583,250 84 16.8% Balanced - - - -TX San Angelo $630,000 $579,900 160 6.5% Buyer's - - - -TX San Antonio $820,000 $775,523 48 22.4% Seller's $680,000 $792,500 26 7.1% Buyer's TX The Woodlands & Spring $895,000 $751,750 31 53.6% Seller's - - - -UT Park City $4,500,000 $3,625,000 80 22.1% Seller's $2,087,500 $2,026,750 37 42.2% Seller's UT Salt Lake City $1,249,000 $1,100,000 27 33.3% Seller's $629,900 $599,000 42 39.5% Seller's UT Washington County $1,549,950 $1,297,500 47 23.1% Seller's - - - -VA Arlington & Alexandria $2,399,900 $1,810,000 7 45.6% Seller's $1,148,900 $1,000,000 5 145.8% Seller's VA Fairfax County $2,350,000 $1,500,000 6 65.7% Seller's $834,990 $705,000 5 188.7% Seller's VA McLean & Vienna $3,100,000 $2,027,500 6 44.2% Seller's $1,050,000 $1,032,450 5 54.5% Seller's VA Richmond $824,999 $810,000 7 52.8% Seller's $582,500 $573,765 11 42.2% Seller's VA Smith Mountain Lake $1,522,500 $1,130,000 11 33.3% Seller's - - - -WA King County $2,200,000 $1,772,500 5 88.1% Seller's $1,157,998 $1,127,975 10 49.6% Seller's WA Seattle $2,283,250 $1,700,000 6 77.3% Seller's $1,449,000 $1,285,000 22 30.3% Seller's WA Spokane $1,149,900 $967,500 16 14.1% Balanced - - - - -
Luxury is in each detail.
Hubert de Givenchy
BROWARD COUNTY FLORIDA
EXCLUDING FT. LAUDERDALE
2024 MAY
LUXURY INVENTORY VS. SALES | APRIL 2024
$6,000,000+
$5,000,000 - $5,999,999
$4,500,000 - $4,999,999
$4,000,000 - $4,499,999
$3,500,000 - $3,999,999
$3,000,000 - $3,499,999
$2,500,000 - $2,999,999
$2,250,000
$1,500,000 - $1,749,999
$1,400,000 - $1,499,999
$1,300,000 - $1,399,999
$1,200,000 - $1,299,999
$1,100,000 - $1,199,999
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 2,999 $1,232,500 4 3 52 340 15% 3,000 - 3,999 $1,375,000 5 4 54 222 24% 4,000 - 4,999 $1,725,000 5 5 20 164 12% 5,000 - 5,999 $2,737,500 6 6 10 66 15% 6,000 - 6,999 $2,600,000 6 7 2 37 5% 7,000+ $3,950,000 7 10 2 48 4%
1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory. 68 21 25 18 35 30 53 57 56 85 120 68 78 99 96 0 3 1 1 1 3 6 8 9 11 21 11 15 23 27
BROWARD COUNTY SINGLE - FAMILY HOMES
- $2,499,999
- $2,249,999
$2,000,000
$1,750,000 - $1,999,999
Inventory Sales
Balanced Market
909 Total Sales: 140 Total Sales Ratio2 : 15% Luxury Benchmark Price 1: $1,100,000
Total Inventory:
Benchmark Price 1:
13 - MONTH LUXURY MARKET TREND 4
BROWARD COUNTY SINGLE - FAMILY HOMES BROWARD COUNTY MARKET SUMMARY | APRIL 2024
MEDIAN DATA REVIEW | APRIL
VARIANCE: 40 % 647909 Apr. 2023Apr. 2024 TOTAL INVENTORY
VARIANCE: 65 % 85140 TOTAL SOLDS VARIANCE: - 1 % $1.42m $1.41m SALES PRICE
VARIANCE: 6 % $418 $445 SALE PRICE PER SQFT. Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024
VARIANCE: 0 % 96.08% 95.64% SALE TO LIST PRICE RATIO
VARIANCE: - 10 % 5247 DAYS ON MARKET
• The single-family luxury market is a Balanced Market with a 15% Sales Ratio. • Homes sold for a median of 95.64% of list price in April 2024. • The most active price band is $1,100,000-$1,199,999, where the sales ratio is 28%
• The median luxury sales price for single-family homes is $1,412,500.
• The median days on market for April 2024 was 47 days, down from 52 in April 2023.
Solds Median Sales Price Inventory 647 654 678 675 654 670 726 753 720 790 861 881 909 85 107 130 96 113 120 97 78 77 75 86 108 140 $1,420,000 $1,400,000 $1,400,000 $1,499,500 $1,445,500 $1,392,500 $1,450,000 $1,500,000 $1,375,000 $1,600,000 $1,500,000 $1,450,000 $1,412,500 $1,400,000$1,400,000 Apr-23May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23Jan-24Feb-24Mar-24Apr-24
data
Active
properties
properties.
3Square foot table does not account for listings and solds where square foot
is not disclosed. 4Data reported includes
and Sold
and does not include Pending
Luxury
$1
000
,100,
$1,500,000
LUXURY INVENTORY VS. SALES |
APRIL 2024
Buyer's Market
$550,000
$525,000
$500,000
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 2,999 $620,000 3 3 113 1063 11% 3,000 - 3,999 $2,795,000 3 4 3 43 7% 4,000 - 4,999 NA NA NA 0 11 0% 5,000 - 5,999 NA NA NA 0 6 0% 6,000 - 6,999 NA NA NA 0 1 0% 7,000+ NA NA NA 0 2 0% 64 26 23 48 50 60 68 85 139 134 121 113 65 84 66 1 2 2 2 2 6 3 9 8 14 17 13 10 16 16 $3,000,000+ $2,500,000 - $2,999,999
- $2,499,999
BROWARD COUNTY ATTACHED HOMES
$2,000,000
- $1,999,999
- $1,499,999 $1,000,000 - $1,249,999 $900,000 - $999,999 $800,000 - $899,999 $700,000 - $799,999 $650,000 - $699,999 $600,000 - $649,999 $575,000 - $599,999
$1,250,000
- $574,999
- $549,999
- $524,999
Inventory Sales Luxury Benchmark Price 1: $500,000
Total Inventory: 1,146 Total Sales: 121 Total Sales Ratio2 : 11% 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory.
13 - MONTH LUXURY MARKET TREND 4
Solds
MEDIAN DATA REVIEW | APRIL
• The attached luxury market is a Buyer's Market with a 11% Sales Ratio.
• Homes sold for a median of 97.12% of list price in April 2024.
• The most active price band is $500,000-$524,999, where the sales ratio is 24%
• The median luxury sales price for attached homes is $614,250.
• The median days on market for April 2024 was 52 days, down from 55 in April 2023.
751 743 692 745 739 797 858 889 909 1,049 1,100 1,162 1,146 112 129 141 85 98 100 91 104 95 70 79 141 121 $629,500 $610,000 $600,000 $609,000 $582,500 $590,000 $581,740 $592,500 $620,000 $639,950 $575,000 $630,000 $614,250 Apr-23May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23Jan-24Feb-24Mar-24Apr-24 3Square
listings
solds
4
properties
VARIANCE: 53 % 7511,146 VARIANCE: 8 % 112121 VARIANCE: - 2 % $630k $614k SALES PRICE VARIANCE: - 5 % 5552
VARIANCE: 0 % 97.12% 97.12% SALE TO LIST PRICE RATIO VARIANCE: - 6 % $456 $427 SALE PRICE PER SQFT. BROWARD
APRIL 2024 BROWARD COUNTY ATTACHED HOMES
foot table does not account for
and
where square foot data is not disclosed.
Data reported includes Active and Sold
and does not include Pending properties.
DAYS ON MARKET
COUNTY MARKET SUMMARY |
Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr.
Apr.
Apr.
2023Apr. 2024
2023Apr. 2024
2023Apr. 2024
TOTAL
TOTAL
Luxury Benchmark Price 1
$500,000
INVENTORY
SOLDS
:
Median Sales Price Inventory
FT. LAUDERDALE FLORIDA
2024 MAY
LAUDERDALE
LUXURY INVENTORY VS. SALES | APRIL 2024
Buyer's
$15,000,000+
$12,500,000 - $14,999,999
$10,000,000 - $12,499,999
$9,000,000 - $9,999,999
$8,000,000 - $8,999,999
$7,000,000 - $7,999,999
$6,000,000 - $6,999,999
$5,000,000 - $5,999,999
$4,500,000 - $4,999,999
$4,000,000 - $4,499,999
$3,500,000 - $3,999,999
$3,250,000 - $3,499,999
$3,000,000 - $3,249,999
$2,750,000 - $2,999,999
$2,500,000 - $2,749,999
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 2,999 $3,225,000 3 3 2 30 7% 3,000 - 3,999 $3,499,000 4 5 7 42 17% 4,000 - 4,999 $3,750,000 4 5 5 47 11% 5,000 - 5,999 $6,501,250 6 6 4 30 13% 6,000 - 6,999 NA NA NA 0 23 0% 7,000+ $12,400,000 6 9 2 36 6%
1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory. 26 9 13 10 9 11 16 27 15 12 15 17 12 18 14 1 0 1 0 0 2 1 4 0 1 4 1 2 1 2
FT.
SINGLE - FAMILY HOMES
Inventory Sales
Total Sales: 20 Total Sales Ratio2 : 9% Luxury Benchmark Price 1: $2,500,000
Market Total Inventory: 224
FT. LAUDERDALE SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | APRIL
181224 Apr. 2023Apr. 2024
VARIANCE: 10 % $997 $1,096 SALE PRICE PER SQFT. Apr. 2023Apr. 2024
VARIANCE: 2 % 91.95% 94.23% SALE TO LIST PRICE RATIO
$3.90m $3.94m SALES PRICE
VARIANCE: 135 % 57134 DAYS ON MARKET
FT. LAUDERDALE MARKET SUMMARY | APRIL 2024
• The single-family luxury market is a Buyer's Market with a 9% Sales Ratio.
• Homes sold for a median of 94.23% of list price in April 2024.
• The most active price band is $3,500,000-$3,999,999, where the sales ratio is 27%
• The median luxury sales price for single-family homes is $3,939,000.
• The median days on market for April 2024 was 134 days, up from 57 in April 2023.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
Solds Median Sales Price Inventory 181 185 173 170 171 180 227 223 232 239 236 220 224 10 21 21 16 16 14 12 9 10 7 13 25 20 $3,900,000 $3,500,000 $3,829,304 $3,397,500 $3,790,500 $6,245,000 $4,350,000 $3,550,000 $3,837,500 $4,300,000 $3,275,000 $4,200,000 $3,939,000 Apr-23May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23Jan-24Feb-24Mar-24Apr-24
VARIANCE: 24 %
TOTAL
VARIANCE: 100 %
VARIANCE:
%
INVENTORY
1020 TOTAL SOLDS
1
Apr.
Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Luxury
2023Apr. 2024
Benchmark Price 1: $2,500,000
FT. LAUDERDALE
Benchmark Price 1: $1,600,000
LUXURY INVENTORY VS. SALES | APRIL 2024
Buyer's Market
$5,000,000
$4,500,000
$2,000,000
$1,900,000
$1,800,000
HOMES Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,499 NA NA NA 0 7 0% 1,500 - 1,999 $2,050,000 2 3 1 24 4% 2,000 - 2,499 $1,775,000 3 3 3 70 4% 2,500 - 2,999 $2,345,000 3 4 3 59 5% 3,000 - 3,499 $1,825,000 3 4 3 39 8% 3,500+ $4,455,000 5 5 3 30 10% 11 11 9 7 15 11 10 14 15 31 28 12 16 23 19 1 0 0 2 0 1 0 0 0 1 2 1 2 2 1 $6,000,000+
ATTACHED
- $5,999,999
- $4,999,999
- $4,499,999 $3,500,000 - $3,999,999 $3,250,000 - $3,499,999 $3,000,000 - $3,249,999 $2,750,000 - $2,999,999 $2,500,000 - $2,749,999 $2,250,000 - $2,499,999
$4,000,000
- $2,249,999
- $1,999,999
- $1,899,999 $1,700,000 - $1,799,999 $1,600,000 - $1,699,999
Inventory Sales Luxury
Total Inventory: 232 Total Sales: 13 Total Sales Ratio2 : 6% 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory.
Luxury Benchmark Price 1: $1,600,000
13 - MONTH LUXURY MARKET TREND
Solds Median Sales Price Inventory
4
MEDIAN DATA REVIEW | APRIL
TOTAL INVENTORY TOTAL SOLDS
• The median days on market for April 2024 was 137 days, up from 21 in April 2023. Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024
• The attached luxury market is a Buyer's Market with a 6% Sales Ratio.
• Homes sold for a median of 94.40% of list price in April 2024.
• The most active price band is $4,000,000-$4,499,999, where the sales ratio is 29%
• The median luxury sales price for attached homes is $2,050,000.
130 132 129 143 137 152 170 162 175 195 198 207 232 13 12 18 7 7 6 9 15 9 5 13 14 13 $2,000,000 $2,800,000 $1,945,000 $1,720,000 $1,995,000 $1,746,000 $3,950,000 $2,550,000 $2,150,000 $2,000,000 $2,087,500 $2,525,000 $2,050,000 Apr-23May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23Jan-24Feb-24Mar-24Apr-24
VARIANCE: 78 % 130232 VARIANCE: 0 % 1313 VARIANCE: 3 % $2.00m $2.05m SALES PRICE VARIANCE: 552 %
VARIANCE: 2 % 92.50% 94.40% SALE TO LIST PRICE RATIO VARIANCE:
% $889
SALE
FT. LAUDERDALE MARKET SUMMARY
APRIL 2024 FT.
HOMES
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
21137 DAYS ON MARKET
- 4
$853
PRICE PER SQFT.
|
LAUDERDALE ATTACHED
MIAMI FLORIDA
2024 MAY
Luxury Benchmark Price 1: $900,000
LUXURY INVENTORY VS. SALES | APRIL 2024
Total Inventory: 1,260
$30,000,000+
$20,000,000 - $29,999,999
$15,000,000 - $19,999,999
$10,000,000 - $14,999,999
$5,000,000 - $9,999,999
$4,000,000 - $4,999,999
$3,000,000 - $3,999,999
$2,500,000 - $2,999,999
$2,000,000 - $2,499,999
$1,800,000 - $1,999,999
$1,600,000 - $1,799,999
$1,400,000 - $1,599,999
$1,200,000 - $1,399,999
$1,000,000 - $1,199,999
$900,000 - $999,999 Inventory Sales
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 2,999 $1,160,000 4 3 95 636 15% 3,000 - 3,499 $1,850,000 4 4 13 166 8% 3,500 - 3,999 $3,000,000 4 4 9 100 9% 4,000 - 4,499 $1,450,000 5 3 7 61 11% 4,500 - 4,999 $3,900,000 5 5 4 43 9% 5,000+ $5,050,000 6 7 15 175 9% MIAMI SINGLE
1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory. 22 24 26 42 135 74 95 106 111 60 67 93 127 147 131 0 1 2 1 7 8 12 6 10 9 5 13 16 25 30
- FAMILY HOMES
Balanced
Market
Total
Total Sales Ratio2 : 12%
Sales: 145
MIAMI SINGLE - FAMILY HOMES
Luxury Benchmark Price 1: $900,000
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | APRIL
VARIANCE: 23 % 1,0281,260 Apr. 2023Apr. 2024 TOTAL INVENTORY
VARIANCE: 48 % 98145 TOTAL SOLDS
VARIANCE: - 2 % $604 $590 SALE PRICE PER SQFT. Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024
VARIANCE: 1 % 94.83% 95.96% SALE TO LIST PRICE RATIO
MIAMI MARKET SUMMARY | APRIL
VARIANCE: 3 % $1.36m $1.40m SALES PRICE
VARIANCE: - 7 % 6157 DAYS ON MARKET
2024
• The single-family luxury market is a Balanced Market with a 12% Sales Ratio.
• Homes sold for a median of 95.96% of list price in April 2024.
• The most active price band is $900,000-$999,999, where the sales ratio is 23%
• The median luxury sales price for single-family homes is $1,400,000.
• The median days on market for April 2024 was 57 days, down from 61 in April 2023.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
Solds Median Sales Price Inventory 1,028 989 899 960 1,037 1,103 1,181 1,210 1,200 1,234 1,274 1,262 1,260 98 134 131 127 118 113 109 95 95 101 108 142 145 $1,359,500 $1,485,000 $1,425,000 $1,315,000 $1,587,500 $1,400,000 $1,425,000 $1,345,000 $1,435,000 $1,725,000 $1,394,000 $1,326,000 $1,400,000 Apr-23May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23Jan-24Feb-24Mar-24Apr-24
$7,000,000
$6,000,000
$5,000,000
LUXURY INVENTORY VS. SALES | APRIL 2024
$1,200,000
$1,000,000
ATTACHED HOMES Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 999 $920,000 1 1 8 152 5% 1,000 - 1,499 $980,000 2 2 61 637 10% 1,500 - 1,999 $1,470,000 3 3 43 390 11% 2,000 - 2,499 $1,900,000 3 3 11 196 6% 2,500 - 2,999 $2,600,000 3 5 14 118 12% 3,000+ $4,675,000 4 5 10 200 5% 65 66 26 53 78 114 109 106 89 84 134 206 210 191 216 3 4 1 2 8 6 6 8 5 11 11 14 20 20 28 $10,000,000+
MIAMI
- $9,999,999
- $6,999,999
- $5,999,999 $4,000,000 - $4,999,999 $3,000,000 - $3,999,999 $2,500,000 - $2,999,999 $2,000,000 - $2,499,999 $1,800,000 - $1,999,999 $1,600,000 - $1,799,999
- $1,599,999
$1,400,000
- $1,399,999
- $1,199,999 $900,000 - $999,999 $800,000 - $899,999
Inventory Sales Luxury Benchmark Price 1: $800,000 Buyer's Market Total Inventory: 1,747 Total Sales: 147 Total Sales Ratio2 : 8% 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory.
Benchmark Price 1: $800,000
13 - MONTH LUXURY MARKET TREND 4
Solds Median Sales Price Inventory
MEDIAN DATA REVIEW | APRIL
1,4231,747
SALE TO LIST PRICE RATIO
• The attached luxury market is a Buyer's Market with an 8% Sales Ratio.
• Homes sold for a median of 94.52% of list price in April 2024.
• The most active price band is $800,000-$899,999, where the sales ratio is 13%
• The median luxury sales price for attached homes is $1,300,000.
• The median days on market for April 2024 was 73 days, down from 103 in April 2023.
1,423 1,378 1,279 1,319 1,401 1,502 1,590 1,651 1,649 1,739 1,791 1,766 1,747 86 144 141 93 116 95 98 97 81 91 89 133 147 $1,227,500 $1,262,500 $1,250,000 $1,280,000 $1,275,000 $1,290,000 $1,187,500 $1,275,000 $1,200,000 $1,297,500 $1,250,000 $1,325,000 $1,300,000 Apr-23May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23Jan-24Feb-24Mar-24Apr-24
reported
Active
properties
properties.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data
includes
and Sold
and does not include Pending
VARIANCE: 23 %
VARIANCE:
% 86147 VARIANCE: 6 % $1.23m $1.30m SALES PRICE
MIAMI MARKET SUMMARY | APRIL 2024 MIAMI ATTACHED HOMES
71
VARIANCE: - 29 % 10373 DAYS ON MARKET VARIANCE: 0 % 94.21% 94.52%
VARIANCE: - 2 % $865 $852 SALE PRICE PER SQFT.
Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024
TOTAL INVENTORY TOTAL SOLDS
Luxury
BOCA RATON & DELRAY BEACH FLORIDA
2024 MAY
LUXURY INVENTORY VS. SALES | APRIL 2024
$11,000,000+
$8,700,000 - $10,999,999
$6,700,000 - $8,699,999
$5,700,000 - $6,699,999
$4,900,000 - $5,699,999
$4,100,000 - $4,899,999
$3,500,000 - $4,099,999
$2,900,000
$2,500,000 - $2,899,999
$2,100,000 - $2,499,999
$1,900,000 - $2,099,999
$1,700,000 - $1,899,999
$1,500,000 - $1,699,999
$1,300,000 - $1,499,999
$1,200,000 - $1,299,999
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 2,999 $1,490,000 3 3 35 135 26% 3,000 - 3,999 $1,750,000 4 4 35 151 23% 4,000 - 4,999 $2,164,921 5 6 19 115 17% 5,000 - 5,999 $2,590,938 5 7 6 79 8% 6,000 - 6,999 $5,325,000 5 7 6 29 21% 7,000+ $11,296,000 6 9 8 87 9%
SINGLE
1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory. 55 17 33 22 32 34 29 57 39 74 35 50 45 47 28 4 1 1 4 1 2 4 12 11 6 7 14 14 17 11
BOCA/DELRAY
- FAMILY HOMES
- $3,499,999
Inventory Sales
Balanced Market Total Inventory: 597 Total Sales: 109 Total Sales Ratio2 : 18% Luxury Benchmark Price 1: $1,200,000
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | APRIL
VARIANCE: 26 % 472597 Apr. 2023Apr. 2024 TOTAL INVENTORY VARIANCE: 51 % 72109 TOTAL SOLDS VARIANCE: - 9 % $2.03m $1.85m SALES PRICE
VARIANCE: - 7 % $624 $583 SALE PRICE PER SQFT. Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024
VARIANCE: 204 % 2679 DAYS ON MARKET VARIANCE: 1 % 93.65% 94.44% SALE TO LIST PRICE RATIO
• The single-family luxury market is a Balanced Market with an 18% Sales Ratio.
• Homes sold for a median of 94.44% of list price in April 2024.
• The most active price band is $1,200,000-$1,299,999, where the sales ratio is 39%
• The median luxury sales price for single-family homes is $1,850,000.
• The median days on market for April 2024 was 79 days, up from 26 in April 2023.
Solds Median Sales Price Inventory 472 493 465 485 479 518 586 604 614 619 628 596 597 72 99 107 82 80 69 78 61 61 54 67 107 109 $2,025,000 $1,890,000 $2,025,000 $2,062,500 $2,212,500 $2,000,000 $2,035,000 $1,725,000 $2,200,000 $2,025,000 $1,950,000 $1,867,000 $1,850,000 Apr-23May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23Jan-24Feb-24Mar-24Apr-24
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
BOCA/DELRAY
BOCA/DELRAY SINGLE - FAMILY HOMES
MARKET SUMMARY | APRIL 2024
Luxury
Price
$1
200
000
Benchmark
1:
,
,
$2,500,000
$2,000,000
LUXURY INVENTORY VS. SALES | APRIL 2024
$550,000
$525,000
$500,000
ATTACHED HOMES Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,999 $650,000 2 2 67 339 20% 2,000 - 2,499 $720,000 3 3 29 104 28% 2,500 - 2,999 $2,005,000 3 3 14 52 27% 3,000 - 3,499 $897,500 4 4 2 36 6% 3,500 - 3,999 $7,250,000 2 5 2 15 13% 4,000+ $4,422,000 4 5 5 29 17% 75 31 36 68 87 20 34 34 23 30 32 39 15 41 10 7 3 8 8 18 3 10 3 5 11 13 9 7 9 5
BOCA/DELRAY
$3,000,000+
- $2,999,999
- $2,499,999
- $1,999,999 $1,000,000 - $1,499,999 $900,000 - $999,999 $800,000 - $899,999 $750,000 - $799,999 $700,000 - $749,999 $650,000 - $699,999
- $649,999
- $599,999
$1,500,000
$600,000
$575,000
- $574,999
- $549,999
- $524,999
Inventory Sales Luxury Benchmark Price 1: $500,000 Seller's Market Total Inventory: 575 Total Sales: 119 Total Sales Ratio2 : 21% 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory.
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW |
• The attached luxury market is a Seller's Market with a 21% Sales Ratio. • Homes sold for a median of 95.18% of list price in April 2024.
• The most active price band is $500,000-$524,999, where the sales ratio is 50%
• The median luxury sales price for attached homes is $750,000.
• The median days on market for April 2024 was 45 days, up from 28 in April 2023.
339 316 306 313 326 363 432 456 501 578 587 568 575 89 111 93 64 77 86 63 52 61 62 67 110 119 $799,900 $833,000 $790,000 $755,000 $675,000 $781,250 $667,000 $727,500 $775,000 $837,000 $855,000 $846,439 $750,000 Apr-23May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23Jan-24Feb-24Mar-24Apr-24 3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties. VARIANCE:
339575 VARIANCE:
89119 VARIANCE: - 6 % $800k $750k SALES PRICE
VARIANCE:
1 % 96.46% 95.18% SALE TO LIST PRICE RATIO VARIANCE: - 15 % $529 $448 SALE PRICE PER SQFT. BOCA/DELRAY MARKET SUMMARY | APRIL 2024 BOCA/DELRAY ATTACHED HOMES
70 %
34 %
VARIANCE: 61 % 2845 DAYS ON MARKET
-
Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024 Apr. 2023Apr. 2024
TOTAL INVENTORY TOTAL SOLDS Luxury
$500
000
APRIL
Benchmark Price 1:
,
Solds Median Sales Price Inventory
954.557.6642 | info@alexarosario.com | www.AlexaRosario.com Thank you for taking time to view this report. For more information about this report and the services I can offer you and your luxury property, please give me a call at 954.557.6642 -Alexa Rosario
