The Brown Harris Stevens Market Report for the 1st Quarter of 2019 has been released!
The data shows mixed signals and varies greatly depending on the neighborhood. The South of Fifth community of Miami Beach shows a 41% decline in average sales price and a 23.9% decline in median sales price, year over year. On a positive note there was an uptick in price and number of closings from the 4th Quarter of 2018. Other neighborhoods such as Bal Harbour showed an increase in condominium sales of 25% for the average sales price and 20% for the median sales price, year over year.
In the single-family home market of Bal Harbour, Bay Harbor Islands, and Indian Creek the average sales price decreased by 40% and median sales price decreased by 47.9%, year over year. The Coconut Grove single-family home market saw values trend in a different direction, average sales prices were up 50% and median sales prices increased over 90%, year over year.
To see the Market Report in full, please CLICK HERE.
To better understand the context of the report and how this may affect you, feel free to contact us!