Douglas Elliman has released their Q3 2017 South Florida Market Reports for Miami Mainland, Miami Beach, Boca Raton, Fort Lauderdale, Palm Beach, Wellington, Delray, and Jupiter/Palm Beach Gardens. The data was compiled in partnership with Miller Samuel, who is a leading independent appraisal firm. Reports reflect price and sales trends along with current market conditions and emerging market trends. The data through Q3 2017 reflects the continued strong growth of South Florida real estate as price trends indicators continue to push higher despite a decline in sales due to disruptions in closings in the aftermath of Hurricane Irma. 

MIAMI BEACH/BARRIER ISLANDS HIGHLIGHTS

Key Trend Metrics (compared to same year ago period)
OVERALL MARKET
- Median sales price rose 4.2% to $400,000
- Average sales price was unchanged at $868,404
- Number of sales declined 11.8% to 690
- Days on market was 139, up from 120
- Listing discount was 8.9%, unchanged
- Listing inventory increased 1.4% to 5,895

LUXURY CONDO
- Median sales price increased 15.5% to $2,425,000
- Days on market was 196, up from 126
- Listing discount was 8.8%, down from 8.9%
- Listing inventory fell 8.5% to 1,130 units
- Entry threshold began at $1,590,000

LUXURY SINGLE FAMILY
- Median sales price shifted down 39.3% to $5,100,000
- Days on market was 265, up from 141
- Listing discount was 12.7%, down from 12.9%
- Listing inventory rose 33.9% to 217 units
- Entry threshold began at $4,350,000

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MIAMI COASTAL MAINLAND HIGHLIGHTS

Key Trend Metrics (compared to same year ago period)
OVERALL MARKET
- Median sales price increased 5.4% to $300,500
- Average sales price rose 4.2% to $408,405
- Number of sales fell 11.8% to 3,482
- Days on market was 76 down from 103
- Listing discount was 5.4%, up from 5.2%
- Listing inventory rose 12.4% to 12,194 units

LUXURY CONDO
- Median sales price fell 5.4% to $691,500
- Days on market was 176 days, down from 187
- Listing discount was 7.5%, down from 7.9%
- Listing inventory rose 25.6% to 3,115
- Entry threshold began at $472,000

LUXURY SINGLE FAMILY
- Median sales price jumped 13.6% to $1,325,000
- Days on market was 174 days up from 213
- Listing discount was 7.7%, up from 7.6%
- Listing inventory declined 20.9% to 987 units
- Entry threshold began at $877,000

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FORT LAUDERDALE HIGHLIGHTS

Key Trend Metrics (compared to same year ago period)
LUXURY CONDO
- Median sales price was unchanged at $1,100,000
- Days on market was 46, up from 31
- Listing discount was 6.5%, up from 6.3%
- Listing inventory increased 8.7% to 350
- Entry threshold began at $765,000

LUXURY SINGLE FAMILY
- Median sales price slipped 2.4% to $2,000,000
- Days on market was 205, down from 273
- Listing discount was 9.8%, down from 12.9%
- Listing inventory increased 0.6% to 347 units
- Entry threshold began at $1,200,000

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BOCA RATON HIGHLIGHTS

Key Trend Metrics (compared to same year ago period)
LUXURY CONDO
- Median sales price rose 12.5% to $900,000
- Days on market was 139 days, up from 98 days
- Listing discount was 10.7%, up from 8.9%
- Listing inventory fell 9.6% to 292
- Entry threshold began at $550,000

LUXURY SINGLE FAMILY
- Median sales price declined 11% to $1,380,000
- Days on market was 164 days, up from 153
- Listing discount was 7.8%, down from 11.3%
- Listing inventory rose 7.1% to 470
- Entry threshold began at $935,000

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DELRAY BEACH HIGHLIGHTS

Key Trend Metrics (compared to same year ago period)
LUXURY SINGLE FAMILY
- Median sales price rose 15.6% to $1,775,000
- Days on market was 124, up from 103
- Listing discount was 18%, up from 8.8%
- Entry threshold began at $1,188,000

LUXURY CONDO
- Median sales price slipped 4.5% to $563,500
- Days on market was 123, up from 118
- Listing discount was 6%, up from 4.1%
- Entry threshold began at $355,000

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WELLINGTON HIGHLIGHTS

Key Trend Metrics (compared to same year ago period)
LUXURY SINGLE FAMILY
- Median sales price declined 38% to $829,000
- Average sales square footage dropped 26.4% to 3,940
- Days on market was 110, down from 295
- Listing discount was 8.2%, down from 10.1%
- Listing inventory rose 29.7% to 275
- Entry threshold began at $640,000

LUXURY CONDO
- Median sales price jumped 65.6% to $525,000
- Days on market was 211, up from 128
- Listing discount was 7.6%, up from 3.4%
- Listing inventory declined 45.5% to 30
- Entry threshold began at $400,000

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PALM BEACH HIGHLIGHTS

Key Trend Metrics (compared to same year ago period)
LUXURY CONDO AND SINGLE FAMILY
- Median sales price declined 21.2% to $7,700,000
- Days on market was 252, down from 254
- Listing discount was 13.4%, down from 15.2%
- Listing inventory rose 4.4% to 95
- Entry threshold began at $4,865,000

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JUPITER / PALM BEACH GARDENS HIGHLIGHTS

Key Trend Metrics (compared to same year ago period)
JUPITER SINGLE FAMILY
- Median sales price increased 10.4% to $510,000
- Days on market was 68, up from 64
- Listing discount was 6.8%, up from 5.7%
- Listing inventory declined 12.9% to 392

JUPITER CONDO
- Median sales price increased 3.6% to $285,000
- Days on market was 59, up from 53
- Listing discount was 5.2%, up from 4.4%
- Listing inventory surged 71.3% to 257

PALM BEACH GARDENS SINGLE FAMILY
- Median sales price increased 11.4% to $479,000
- Days on market was 77, down from 86
- Listing discount was 6.7%, up from 6.3%

PALM BEACH GARDENS CONDO
- Median sales price rose 7.9% to $232,000
- Days on market was 55, down from 56
- Listing discount was 3.8%, down from 4.3%