Q3 Trends Update: Market Strength Spotlight

The ONE Sotheby’s International Realty Q3 Trends Update for Miami-Dade’s single-family home market in its most exclusive neighborhoods is here. The data assessed shows a positive overall snapshot at the health of our luxury market. 4 of the 5 categories in the Waterfront Home segment showed positive change from the same period last year. Average sales price was up 58% from $3,471,613 in Q3 2015 to $5,499,767 this year. Average price per square foot was up 26% from $826,1,037 and av living area was up 26%. Finally, average days on market (D.O.M.) was down from 167 to 122 days of -27%. Negative change was recorded in # of transactions which was down 51% .

Non-waterfront homes also logged a successful quarter when compared with the same period last year. Number of transactions was down a mere 18% and average D.O.M increased by 5% only from 92 to 97 days. Otherwise, average sales price was up 10%, average living area up 6%, average price per square foot up 4%. The strength of the area’s top enclaves and their top tier estates has continued to show robust performance and I look forward to creating a custom report for you and your specific needs. Find the full report here.

With more than 15 years of success selling South Florida area real estate, Anna Sherrill is both respected and sought after by clients who trust her ability to maximize their purchase or sale experience. If you’re considering buying or selling an extraordinary residence, contact her today.

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