Q4-2022
Report
Miami Beach/ Barrier Islands, FL Sales
Miami Beach/Barrier Islands
Median Sales Price
Number of Sales
$750K
2,450
$650K
2,050
$550K
1,650
Dashboard
$450K
1,250
YEAR-OVER-YEAR
$350K
850
- 8.1%
$250K
Condo & Single Family
Prices
450 2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Median Sales Price
+ 5.2 mos Pace
Months of Supply
- 49.0% Sales
Closed Sales
+ 0.4%
Inventory
Total Inventory
- 26 days
Marketing Time Days on Market
+ 6.4%
Negotiability Listing Discount
• Price trend indicators
showed mixed annual results but remained well above pre-pandemic levels
• The number of sales fell
sharply but stayed higher than pre-pandemic levels
Miami Beach/Barrier Islands Matrix Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales (Closed)
Q4-2022
%∆ (qtr)
Q3-2022
%∆ (yr)
Q4-2021
$1,361,224
6.6%
$1,276,668
-12.2%
$1,549,943
$1,005
10.0%
$914
1.3%
$992
$510,000
-7.3%
$550,000
-8.1%
$555,000
842
-18.6%
1,034
-49.0%
1,652
Median Sales(From PriceLast List Miami Days on Market Date) Beach/Barrier 78 Islands 13.0%Single-Family 69 $3.8M Listing Discount (From Last List Price)
7.1%
Listing Inventory $3.2M
2,978
Months of Supply $2.6M Year-to-Date $2.0M Average $1.4M Sales Price (YTD) Average Price per Sq Ft (YTD) $800K 2014 (YTD) 2015 Median2013 Sales Price Number of Sales (YTD)
300 0.7%
4.3% 16.3%
2,561
0.4%
2,967 240
10.6
43.2%
7.4
96.3%
5.4 180
Q4-2022
%∆ (qtr)
Q3-2022
%∆ (yr)
Q4-2021 120
$1,472,616
N/A
N/A
-4.1%
$1,535,030 60
10.9%
$908 0 $615,000
$1,007 2016
Number of Sales104 -25.0%
2017 $575,000
5,632
N/A 2018
N/A2019 N/A
N/A 2020 N/A
N/A
2021 -6.5% 2022
-21.6%
7,180
Pricing in the luxury market, representing to 380, which was still 50% short of prethe top ten percent of all sales, showed pandemic levels, and there were no bidding mixed results year over year, and listing wars compared to a 13.2% market share inventory growth remained limited. In the during the previous year’s housing boom. The Median Sales Price Number of Sales Miami Beach/Barrier Islands Condo high-end market, the median sales price condo median sales price slipped 0.7% year $550K was substantially higher than pre-pandemic over year to $469,000 and 34% above2,300 prelevels, up 38.1% for luxury single families pandemic levels. Condo sales fell 46.8%, yet $490K 1,900 and 46.5% for luxury condos. The median listing inventory declined 5.8% year over year 1,500 $430K sales price for single families surged 35.6% and remained 54.4% below pre-pandemic. $370K annually, reaching a new high of $3,525,000 Despite the slowdown to the 9.9-month 1,100 pace and of the condo market from last year’s housing 700 $310Knearly triple pre-pandemic levels. However, sales fell 68.4% yearly to 55, 27.6% boom, the market remained 59.4% faster 300 $250K pre-pandemic levels. Over the same below than pre-pandemic levels. 2015 2016 2017 2018 2019 2020 2021 2022 period 2013 listing 2014 inventory nearly doubled
• Listing inventory rose
nominally from the prior year’s quarter but was significantly below pre-pandemic levels Prepared by Miller Samuel Real Estate Appraisers & Consultants