Q3-2021 Florida Market Report

compassfloridainsights.com

Table of Contents

Overarching Trends * City-by-city Data ** Featured Listings Greater Orlando Overarching Trends * City-by-city Data ** Featured Listings Greater Tampa Bay Overarching Trends * City-by-city Data ** Featured Listings Greater Jacksonville Overarching Trends * City-by-city Data ** Featured Listings Broward County Overarching Trends * City-by-city Data ** Featured Listings Miami-Dade County

20

42

REFLECTION

4

50

COMPASS ADVANTAGE

6

COMPASS CONCIERGE

8

60

BRIDGE LOANS

10

PRIVATE EXCLUS IVES

12

74

COAST TO COAST

14

TERMS DEF INED

16

PROFESS IONAL PERSPECTIVE

18

106

Palm Beach County

Overarching Trends * City-by-city Data ** Featured Listings

126

Southwest Florida

Overarching Trends * City-by-city Data ** Featured Listings

*All reports are published October 2021 based on Q3 2021 information available on 10/21/2021. Reports presented are based on data supplied by Trendgraphix. Trendgraphix does not guarantee or is not in any way responsible for accuracy. Data maintained by Trendgraphix may not reflect all real estate activities in the outlined markets. Information deemed reliable but not guaranteed. **All reports are published October 2021 based on 90-day average data available on 10/15/2021. Reports presented are based on data supplied by Altos Research. Altos Research does not guarantee or is not in any way responsible for accuracy. Data maintained by Altos Research may not reflect all real estate activities in the outlined markets. Information deemed reliable but not guaranteed. ***All reports are published October 2021 based on monthly information available on 10/21/2021. Reports presented are based on data supplied by Florida Realtors. Florida Realtors do not guarantee or is not in any way responsible for accuracy. Data maintained by Florida Realtors may not reflect all real estate activities in the outlined markets. Information deemed reliable but not guaranteed.

148

Space Coast

Overarching Trends *** City-by-city Data ** Featured Listings

158

Treasure Coast

Overarching Trends *** City-by-city Data **

4

M A R K E T R E P O R T Q 3

REFLECTION

Take one large housing-supply shortage; add a global pandemic, economic shutdown, and supply chain shortages; mix in rapid population growth, and you will yield today’s residential real estate market. At a national level, we’re seeing record gaps in housing supply and demand. The US Census reveals 12.3 million households were established between January 2012 and June 2021. Compare this to the 7 million new single-family homes constructed during that time. Florida Realtors reports a robust pace and high absorption rate in the Q3 market. This has resulted in higher median prices, an increase of new listings, and a rise in all-cash sales. These trends are predicted to continue into Q4 and onward to 2022. Floridians anxiously await the return of our northern neighbors. “Snowbirds” will arrive in seasonal mass migration, due to relaxed travel restrictions contingent upon vaccination status. International travelers may set their sights on the Sunshine State. Many have funds ready to invest in real estate. They will quickly learn the lack of single-family home inventory has created a condominium buying frenzy in many areas. Florida inventory reports less than half the availability than this time last year. Inventory supply spans one to three months across all price ranges. Multiple offers are common, even for properties over $1 million, creating stiff competition for buyers. Here’s the Recipe for Our 3rd Quarter 2021 Florida Housing Market:

Speaking of buyers, millennials are no longer the generation of renters. Now in their 30s and early 40s, this generation adds fuel to the buyer’s fire, as they inundate entry-level inventory and compete with all-cash investors. New-home construction could save the low housing supply woes. The reality is severe labor shortages, coupled with supply chain disruptions, make material costs unstable and expensive. With elevated land prices, it’s nearly impossible to produce affordable new homes. Despite the challenges, builders seem to hold power in today’s market. Business Insider said it best: “It’s not a buyer’s or a seller’s market in housing: it’s a builder’s market.” The positive factors of residential real estate remain consistent from last quarter. Accessibility and affordability lead the way due to low mortgage interest rates. Supply and demand trends keep the thought of a looming “housing bubble” at bay. Florida is a microcosm of US trends, continuously in the top ten fastest-growing states. The economic outlook of Florida remains strong, with unemployment below the national average. Tourism has almost returned to 2019 pre-pandemic levels. A fair climate, affordability, and eased restrictions continue to attract visitors. Navigating Florida’s current housing market requires both skill and strategy. If you’re in the market to buy or sell, partnering with a seasoned agent has exponential benefits. Visit compass.com to get started.

5

M A R K E T R E P O R T Q 3

6

M A R K E T R E P O R T Q 3

COMPASS ADVANTAGE

The Compass Advantage

Compass is building the first modern real estate platform. By pairing the industry’s top talent with technology, we make the search and sell experience intelligent and seamless. As an innovative residential real estate firm, we empower our agents so they have more time for advising their clients. With the solutions-driven mindset of a startup and the sophistication of a luxury brand, we take a tech-driven, personalized approach to real estate to help you find your place in the world.

Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intend- ed to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

7

M A R K E T R E P O R T Q 3

8

M A R K E T R E P O R T Q 3

COMPASS CONCIERGE

This Winter, Maximize the Value of Your Home

FRESH PA I NT

Compass Concierge is the hassle-free way to sell your home faster, for a higher price. Get fronted for the cost of home improvement services like staging, flooring, painting, and more. When you work with a Compass agent, Concierge can transform your home by unlocking its full potential, all with zero upfront costs and no interest.

Learn more at compass.com/concierge

UPDATED F LOOR I NG

This information is provided for informational purposes only and is not a solicitation, recommendation, offer or promise to provide services. Rules & Exclusions apply. Compass offers no guarantee or warranty of results. Home must qualify under Compass Concierge guidelines. Subject to additional terms and conditions. Compass reserves the right to refuse, reject, or cancel the program for any reason at any time without liability

9

M A R K E T R E P O R T Q 3

LANDSCAP I NG I MPROVEMENTS

STRATEG I C STAG I NG

UPDATED F LOOR I NG

1 0

M A R K E T R E P O R T Q 3

BRIDGE LOANS

When you sell your home with a Compass agent, you gain access to competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to six months of your loan payments fronted using Compass Bridge Loans. Bridge the Gap Between the Home You Have and the Home You Want

Learn more at compass.com/bridge-loan-services

Compass offers no guarantee or warranty of results, is not a lender and has no influence on underwriting or lending decisions made by the third-party lenders.

1 1

M A R K E T R E P O R T Q 3

1 2

M A R K E T R E P O R T Q 3

PRIVATE EXCLUS IVES

Sell Your Home, Keep Your Privacy

Listing your home as a private exclusive allows you to control what information is shared about you and your home, while still getting nationwide exposure to top agents at Compass. You can expect your listing to be an off-market home that can be shared by a Compass agent directly with their colleagues and buyers. Property details aren’t disseminated widely and won’t appear on public search websites.

Learn more at compass.com/private-exclusives

The Compass Private Exclusive program is not available in all markets and local policy definitions may restrict how Private Exclusive listings can be shared between agents, even within the same brokerage. Where the program is available, pre-marketing and listing strategies are independently determined by the client. Compass does not recommend one particular strategy or guarantee results.

1 3

M A R K E T R E P O R T Q 3

1 4

C O M P A S S I N S I G H T S

Coast to Coast

Founded in 2012, Compass pairs best-in- class agents with cutting-edge technology and unparalleled marketing, becoming the country’s largest independent brokerage in six years. This innovative approach has secured $15 billion in capital from some of the world’s most prominent investors, including SoftBank, Fidelity, and Ken Chenault, CEO of American Express, allowing for the development of transformative tools and recruitment of top talent across every discipline to build a once-in-a-generation company.

1 5

1 6

C O M P A S S I N S I G H T S

Terms Defined

Single-Family A standalone house is a free-standing residential building. It is sometimes

Market Action Index TM Developed by Altos Research, this is an at-a-glance measurement of market conditions. The Index compares rate of sales to inventory to determine if it is a buyer’s market or seller’s market. Inventory / For Sale Inventory represents the active supply of properties on the market. Any time a seller lists a property, it is considered to be

referred to as a single-family home, as opposed to a multi- family residential dwelling. Condo A condominium, often shortened to condo, is a type of living space similar to an apartment but independently sellable and therefore regarded as real estate. New Listings A new property that has recently become available. Under Contract When a buyer has made an offer on a home and the seller has accepted, but the sale has not closed. Pending When the home is under contract and all contingencies have been removed, but the sale is not yet closed. Closed Sales Figures for the last twelve months are based on known closings recorded at the time the report is prepared. Average Sales Price The value of all closed sales divided by the number of properties sold. Sale-to-List Ratio Sold price divided by the original list price, shown as a percentage. If it’s above 100%, the home sold for more than the list price. If it’s less than 100%, the home sold for less than the list price.

part of inventory. Median List Price

The median list price is the price in the very middle of a data set, with exactly half of the houses priced for less and half priced for more. We refer to the median price rather than the average price because it is less affected by outliers or properties that skew the perceived values in a particular housing market. Price Per Square Foot ($/SF) A calculation of the value of each square foot of area of a house or condo, most commonly used to compare similar properties. The price per square foot throughout the report is based on the list price. Months of Inventory Average Days on Market (DOM) The average of the total number of days listings have been active on the market before either an offer is accepted or the agreement between real estate broker and seller ends. A measure of how fast all the existing homes on the market would last assuming a) no more listings are added, and b) the rate at which homes sell is a constant.

1 7

M A R K E T R E P O R T Q 3

Michael Gaurnier, ACI

PROFESS IONAL PERSPECTIVE

Your home is the destination. Getting there is the journey.

Considering the influx of out-of-state buyers moving to Florida, tell us more about the required four-point inspections and why this is such an important step when purchasing a new home. A crucial principle for buyers to understand is Florida’s insurance underwriting determines the insurability of the home. If problems are found within the four points of electrical, roofing, plumbing, or AC systems, there is a risk for Given the fast-paced inventory in today’s market, do you believe sellers should prioritize a pre-listing inspection? Why or why not? Yes, a pre-listing inspection is highly advantageous for those selling their home. Potential issues identified in a pre-listing inspection can be disclosed in advanced and negotiated before going under contract. This action helps avoid the infamous “deal killer” that might arise during the transaction. Additionally, a pre-listing inspection, publicized by your agent, can attract more qualified buyers to the property. It also helps you sell for a higher price by eliminating the second negotiation phase typically held after a buyer’s inspection. declining insurance or a cost-prohibitive premium. Consider asking a seller ahead of time, especially if purchasing an older property, if they are willing to cover repairs if insurability becomes an issue. Learn more about four-point inspections by visiting our website and clicking on “Our Services”.

When it comes to buying and selling your home, finding the right real estate agent is only one piece of the puzzle. Along the way, you’ll need a knowledgeable lender and savvy inspector for the final steps of due diligence. We connected with industry professionals in Florida to provide their perspectives on what they’re seeing in the market.

ADVERTI SEMENT

Michael Gaurnier 954.303.9565

aci.inspector@gmail.com gohomeinspection.com

1 9

M A R K E T R E P O R T Q 3

Citizens Bank

When looking to purchase property in Florida, how can pre-approval from a lender be advantageous to their home search? Having a pre-approval letter helps a buyer provide additional confidence with the offer to the seller. It implies the buyer has determined their financial position with a qualified mortgage professional in advance. The proactive nature of this extra step builds confidence with the seller, buyer, and real estate agents to present a well structured transaction, all helping to align on the common goal of an on-time closing.

What are you seeing in the market in terms of high-end financing options for home sales?

There are significant perks for buyers who take advantage of high-net purchase financing rates and structuring an offer to allow for financial gains. This can create more wealth and refrain from liquidating investable assets. Citizen’s Bank offers asset-based lending which allows you to structure your investable assets to qualify for financing, as opposed to traditional income which you may not be receiving.

Kyle Rayburn 239.898.6234 kyle.rayburn@citizensbank.com citizensbank.com

ADVERTI SEMENT

ADVERTI SEMENT

2 0

C O M P A S S I N S I G H T S

A MARKET SNAPSHOT

Fort Lauderdale spans much of this region, also known as the “Venice of America.” Over 500 miles of an expansive canal system allows water lovers to play and dine on the waterways. From exclusive neighborhoods to tight-knit communities, there’s something for everyone in Broward County. Broward County

2 1

M A R K E T R E P O R T Q 3

BROWARD COUNTY

2,013

For Sale

-34.6%

4,728

Single-Family Homes

Sold

-7.4%

4,895

Pending

-9.7%

Months of Inventory

Sale-to-List Ratio

Days on Market

1.3

98

29

Q3 2021

-31.1%

+4.3%

-50%

YoY Change

3,501

For Sale

-55.5%

5,586

Condos

Sold

+24.9%

5,767

Pending

+13.4%

Months of Inventory

Sale-to-List Ratio

Days on Market

2

96

59

Q3 2021

-62.2%

+3.2%

-27.2%

YoY Change

2 2

M A R K E T R E P O R T Q 3

BROWARD COUNTY

Coconut Creek

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

63

25

-60.3%

57

19

-66.7%

Average Active Listings

$199

$239

20.1%

$185

$217

17.3%

Average $/SF

72

39

-45.8%

78

28

-64.1%

Average DOM

$422,158

$498,415

18.1%

$309,307

$251,134

-18.8%

Median List Price

Sellers

Sellers

75

84

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Davie

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

179

97

-45.8%

135

70

-48.1%

Average Active Listings

$253

$271

7.1%

$166

$187

12.7%

Average $/SF

161

65

-59.6%

88

66

-25.0%

Average DOM

$842,822

$918,999

9.0%

$200,069

$230,976

15.4%

Median List Price

Sellers

Sellers

59

68

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

2 3

M A R K E T R E P O R T Q 3

BROWARD COUNTY

Fort Lauderdale

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

971

455

-53.1%

1,656

670

-59.5%

Average Active Listings

$346

$359

3.8%

$317

$364

14.8%

Average $/SF

179

98

-45.3%

195

152

-22.1%

Average DOM

$734,711

$712,884

-3.0%

$378,142

$438,949

16.1%

Median List Price

Sellers

Sellers

50

42

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Hallandale Beach

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

92

50

-45.7%

873

380

-56.5%

Average Active Listings

$213

$245

15.0%

$249

$286

14.9%

Average $/SF

171

130

-24.0%

252

175

-30.6%

Average DOM

$212,276

$312,807

47.4%

$284,638

$321,723

13.0%

Median List Price

Sellers

Sellers

45

36

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

2 4

M A R K E T R E P O R T Q 3

BROWARD COUNTY

Hillsboro Beach

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

8

1

-87.5%

90

24

-73.3%

Average Active Listings

$1,660

$2,191

32.0%

$385

$414

7.5%

Average $/SF

244

1,266

418.9%

257

232

-9.7%

Average DOM

$19,100,000

$28,300,000

48.2%

$489,353

$736,411

50.5%

Median List Price

Sellers

Not enough data to report

N/A

37

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Hollywood

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

397

245

-38.3%

993

439

-55.8%

Average Active Listings

$265

$309

16.6%

$312

$438

40.4%

Average $/SF

147

82

-44.2%

261

237

-9.2%

Average DOM

$479,115

$508,000

6.0%

$342,084

$442,400

29.3%

Median List Price

Sellers

Sellers

46

36

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

2 5

M A R K E T R E P O R T Q 3

BROWARD COUNTY

Lauderdale-by-the-Sea

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

23

8

-65.2%

105

37

-64.8%

Average Active Listings

$455

$521

14.5%

$362

$425

17.4%

Average $/SF

141

102

-27.7%

201

112

-44.3%

Average DOM

$927,884

$1,200,000

29.3%

$528,688

$489,923

-7.3%

Median List Price

Sellers

Sellers

44

42

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Lighthouse Point

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

111

43

-61.3%

52

17

-67.3%

Average Active Listings

$419

$682

62.8%

$198

$205

3.5%

Average $/SF

211

100

-52.6%

145

68

-53.1%

Average DOM

$1,200,000

$2,300,000

91.7%

$217,865

$223,299

2.5%

Median List Price

Sellers

Sellers

43

61

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

2 6

M A R K E T R E P O R T Q 3

BROWARD COUNTY

Oakland Park

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

99

51

-48.5%

112

53

-52.7%

Average Active Listings

$268

$309

15.3%

$165

$192

16.4%

Average $/SF

86

51

-40.7%

105

67

-36.2%

Average DOM

$379,007

$407,203

7.4%

$163,338

$180,192

10.3%

Median List Price

Sellers

Sellers

62

52

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Parkland

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

179

68

-62.0%

20

4

-80.0%

Average Active Listings

$231

$302

30.7%

$222

$267

20.3%

Average $/SF

131

78

-40.5%

63

31

-50.8%

Average DOM

$811,438

$1,200,000

47.9%

$413,907

$452,030

9.2%

Median List Price

Sellers

Sellers

58

65

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

2 7

M A R K E T R E P O R T Q 3

BROWARD COUNTY

Pembroke Pines

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

142

102

-28.2%

337

166

-50.7%

Average Active Listings

$209

$222

6.2%

$151

$172

13.9%

Average $/SF

69

36

-47.8%

104

71

-31.7%

Average DOM

$449,673

$522,465

16.2%

$166,686

$187,930

12.7%

Median List Price

Sellers

Sellers

73

58

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Plantation

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

144

108

-25.0%

145

74

-49.0%

Average Active Listings

$222

$248

11.7%

$141

$166

17.7%

Average $/SF

122

54

-55.7%

110

71

-35.5%

Average DOM

$576,761

$667,965

15.8%

$167,226

$213,869

27.9%

Median List Price

Sellers

Sellers

62

65

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

2 8

M A R K E T R E P O R T Q 3

BROWARD COUNTY

Pompano Beach

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

355

186

-47.6%

991

366

-63.1%

Average Active Listings

$225

$263

16.9%

$168

$199

18.5%

Average $/SF

118

52

-55.9%

168

166

-1.2%

Average DOM

$409,599

$488,619

19.3%

$197,692

$229,678

16.2%

Median List Price

Sellers

Sellers

65

52

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Southwest Ranches

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

56

44

-21.4%

Average Active Listings

$384

$426

10.9%

Average $/SF

266

163

-38.7%

Average DOM

$1,700,000 $2,600,000 52.9%

Median List Price

Sellers

Not enough data to report

37

N/A

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

2 9

M A R K E T R E P O R T Q 3

BROWARD COUNTY

Weston

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

129

57

-55.8%

80

46

-42.5%

Average Active Listings

$249

$271

8.8%

$212

$219

3.3%

Average $/SF

141

44

-68.8%

110

65

-40.9%

Average DOM

$664,126

$798,153

20.2%

$280,376

$275,342

-1.8%

Median List Price

Sellers

Sellers

61

50

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Wilton Manors

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

61

27

-55.7%

43

15

-65.1%

Average Active Listings

$324

$454

40.1%

$233

$265

13.7%

Average $/SF

111

46

-58.6%

70

66

-5.7%

Average DOM

$589,207

$775,138

31.6%

$347,111

$356,045

2.6%

Median List Price

Sellers

Sellers

55

60

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

3 0

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

625 San Marco Drive $29,000,000 6 BD 7 BA 2 HB 10,160 SF

This point lot estate, located where the New River meets the Intracoastal Waterway, features 277 feet of waterfront with space to dock your superyacht. Inside, enjoy stunning vistas from all three levels, with rich amenities, gourmet kitchen, an elevator, and more, plus incredible outdoor lounging and entertainment spaces.

Elmes Group 954.522.2803 tim@elmesgroup.com

3 1

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

1425 E Lake Drive $14,995,000 5 BD 6 BA 2 HB 8,423 SF

Welcome to Fort Lauderdale’s most exclusive neighborhood, Harbor Beach. Here, owners enjoy walking to their private beach, marina and are just a skip to Fort Lauderdale International airport. This new construction is over 8,000 square feet featuring expansive loggias, rooftop terrace, chef’s kitchen, wine wall, glass library, and custom pool.

Josh Dotoli 954.290.4793 josh.dotoli@compass.com

3 2

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

2437 Delmar Place $8,995,000 6 BD 8 BA 2 HB 7,923 SF

This contemporary Las Olas Smart Home in exclusive Seven Isles boasts resort-style living. Features include rooftop putting green, theatre, billiard room, three spacious loggias, two summer kitchens and 50’ pool with water curtain, sun-shelf, spa and gazebo, and 103’ dock with 40,000 lb lift and jet ski lift, with direct ocean access.

Andy Ziffer 954.559.8000 andy@andyziffer.com

3 3

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

629 Idlewyld Drive $6,800,000 6 BD 6 BA 1 HB 5,394 SF

Welcome to one of Idlewyld’s most prestigious Intracoastal estates, where modern convenience meets Spanish Colonial architecture and timeless craftsmanship. This massive property boasts a cathedral ceiling in the living room, impact windows and doors, resort-style pool, lush gardens, an exquisite owner’s suite, fabulous guest house, and 103’ feet of direct ocean access.

Liz Caldwell 954.646.6332 liz.caldwell@compass.com

3 4

M A R K E T R E P O R T Q 3

POMPANO BEACH

2102 Bay Drive $6, 500,000 5 BD 4 BA 1 HB 5, 538 SF

Walled and gated to ensure privacy and security, this mid-century direct oceanfront estate in the quiet seaside community of Hillsboro Shores is perfectly positioned on an oversized lot.

Ron Lennen 954.494.8899 ron.lennen@compass.com

Maureen Rotella 954.805.4265 maureen.rotella@compass.com

3 5

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

1813 N Fort Lauderdale Beach Boulevard $5, 250,000 5 BD 5 BA 1 HB 7,129 SF

Enjoy the heights of modern luxury across from Fort Lauderdale Beach in this new, ultra-modern estate. Its luminous, open floor plan boasts striking lines, volume ceilings, and seamlessly integrated indoor/outdoor living, a spacious three-car garage, with floor-to-ceiling glass walls overlooking the shimmering South Florida coastline.

Barkin-Gilman Group 954.675.6656 info@barkingilman.com

3 6

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

1349 Middle River Drive $2 ,999,000 4 BD 5 BA 4,711 SF

With a rare location that permits unrestricted watersports, this two-story boater’s residence is set on a lush lot and features a large pool, four bedrooms – two on level one – dual wood-burning fireplaces, crown molding, custom Spanish tile floors, and French doors. It’s also a short distance to the beach.

Jonathan Keith | Team JK 954.709.9742 jonathan.keith@compass.com

3 7

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

629 SW 8th Terrace $2 ,800,000 4 BD 3 BA 1 HB 3,420 SF

With panoramic vistas and 1920s architecture by Francis Abreu, this Tropical Point estate is one of 23 homes in a gated enclave, featuring 118’ of waterfront, direct ocean access, exotic trees, and space for a pool. Inside, discover spacious rooms, a fireplace, spectacular owner’s suite, and dual laundry rooms.

Liz Caldwell 954.646.6332 liz.caldwell@compass.com

3 8

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

920 Intracoastal Drive, Unit 1201 $2 ,195,000 3 BD 3 BA 1 HB 4,184 SF

With sweeping views of the Atlantic, Intracoastal and Fort Lauderdale skyline, this large private residence at the boutique Aquablu Condominium features east and west- facing terraces, a summer kitchen, open floor plan, and amenities such as 24-hour security, social room, waterfront gym, and pool.

Ron Lennen 954.494.8899 ron.lennen@compass.com

Maureen Rotella 954.805.4265 maureen.rotella@compass.com

3 9

M A R K E T R E P O R T Q 3

LAUDERDALE-BY-THE-SEA

1600 S Ocean Boulevard FROM $1,900,000 2 & 3 BEDROOM RESIDENCES

Discover Aquazul Residences offering a one-of-a-kind elevated living experience with breathtaking views. Aquazul provides owners with flow-through spacious floorplans, semi-private elevators, floor-to-ceiling windows, walk-in master closets, 5-star amenities, and much more. Come to experience Aquazul for the stunning views and stay for the ultimate in privacy and personal luxury.

Megan Probst 954.999.2875 megan.probst@compass.com

4 0

M A R K E T R E P O R T Q 3

FORT LAUDERDALE

2100 S Ocean Lane, Unit 906 $1, 525,000 3 BD 3 BA 2 , 524 SF

This breathtaking gem offers views of the ocean, inlet, and coastline from two oversized balconies, a true rarity. Hosting a large three-bedroom, with floor-to-ceiling glass surrounding owners with a beautiful outlook on what Fort Lauderdale has to offer. Complete with a home office, two covered parking spaces, and much more.

Barkin-Gilman Group 954.675.6656 info@barkingilman.com

4 2

C O M P A S S I N S I G H T S

A MARKET SNAPSHOT

The city of Jacksonville and its historic gem to the south, St. Augustine, make the North Florida region the perfect place to call home. Southern charm and coastal cool intertwine to deliver residents a distinct community experience, complete with accessible beaches and worldclass golf courses. Greater Jacksonville

4 3

M A R K E T R E P O R T Q 3

GREATER JACKSONVILLE

3,155

For Sale

-23.1%

7,335

Single-Family Homes

Sold

-8.6%

7,735

Pending

-6.3%

Months of Inventory

Sale-to-List Ratio

Days on Market

1.3

99

28

Q3 2021

-23.6%

+2.1%

-58.2%

YoY Change

707

For Sale

-31.6%

1,638

Condos

Sold

-2.4%

1,778

Pending

+0.7%

Months of Inventory

Sale-to-List Ratio

Days on Market

1.4

99

33

Q3 2021

-29.4%

+3.1%

-52.2%

YoY Change

4 4

M A R K E T R E P O R T Q 3

GREATER JACKSONVILLE

Atlantic Beach

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

32

22

-31.3%

16

7

-56.3%

Average Active Listings

$314

$497

58.3%

$295

$253

-14.2%

Average $/SF

95

59

-37.9%

101

16

-84.2%

Average DOM

$720,561

$1,300,000

80.4%

$418,788

$293,054

-30.0%

Median List Price

Sellers

Sellers

66

71

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Jacksonville

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

1,520

1,095

-28.0%

491

360

-26.7%

Average Active Listings

$138

$171

23.9%

$142

$187

31.7%

Average $/SF

106

51

-51.9%

96

57

-40.6%

Average DOM

$265,798

$287,778

8.3%

$194,523

$221,361

13.8%

Median List Price

Sellers

Sellers

67

57

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

4 5

M A R K E T R E P O R T Q 3

GREATER JACKSONVILLE

Jacksonville Beach

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

46

35

-23.9%

49

38

-22.4%

Average Active Listings

$281

$343

22.1%

$352

$457

29.8%

Average $/SF

90

41

-54.4%

97

94

-3.1%

Average DOM

$675,321

$699,189

3.5%

$548,492

$733,534

33.7%

Median List Price

Sellers

Sellers

54

47

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Neptune Beach

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

16

7

-56.3%

2

2

0.0%

Average Active Listings

$330

$371

12.4%

$324

$252

-22.2%

Average $/SF

175

126

-28.0%

10

21

110.0%

Average DOM

$809,323

$749,992

-7.3%

$882,388

$309,633

-64.9%

Median List Price

Sellers

Sellers

63

56

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

4 6

M A R K E T R E P O R T Q 3

GREATER JACKSONVILLE

Orange Park

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

107

77

-28.0%

20

27

35.0%

Average Active Listings

$128

$169

32.0%

$101

$188

86.1%

Average $/SF

73

39

-46.6%

50

95

90.0%

Average DOM

$284,923

$349,933

22.8%

$161,673

$215,413

33.2%

Median List Price

Sellers

Sellers

83

77

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Palm Coast

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

561

372

-33.7%

146

56

-61.6%

Average Active Listings

$146

$176

20.5%

$222

$352

58.6%

Average $/SF

106

50

-52.8%

234

63

-73.1%

Average DOM

$275,596

$350,431

27.2%

$323,526

$456,219

41.0%

Median List Price

Sellers

Sellers

46

41

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

4 7

M A R K E T R E P O R T Q 3

GREATER JACKSONVILLE

Ponte Vedra

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

139

60

-56.8%

39

9

-76.9%

Average Active Listings

$278

$417

50.0%

$235

$273

16.2%

Average $/SF

180

60

-66.7%

120

22

-81.7%

Average DOM

$1,000,000

$1,600,000

60.0%

$357,415

$353,538

-1.1%

Median List Price

Sellers

Sellers

46

73

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

St Augustine

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

799

345

-56.8%

330

121

-63.3%

Average Active Listings

$181

$232

28.2%

$194

$287

47.9%

Average $/SF

127

52

-59.1%

153

59

-61.4%

Average DOM

$378,624

$502,023

32.6%

$305,831

$404,121

32.1%

Median List Price

Sellers

Sellers

55

49

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

4 8

M A R K E T R E P O R T Q 3

PONTE VEDRA BEACH

SOLD

30 Lagoon Course Avenue $1, 260,000 4 BD 3 BA 1 HB 3, 233 SF

This recently sold coastal contemporary masterpiece in Ponte Vedra, created by SH Design, features an open floorplan with ground-floor owner’s suite, gourmet kitchen, 10-foot ceilings, two-car garage, lots of in-home technology, and expansive outdoor living spaces. The lanai alone spans the entire rear of home.

The Bright Bishop Group 678.576.5707 brightbishopgroup@compass.com

4 9

M A R K E T R E P O R T Q 3

JACKSONVILLE

SOLD

2879 Bastia Court $415,000 4 BD 3 BA 2 , 225 SF

Professionally designed and meticulously cared for, this home is filled with luxury finishes. The attention to detail begins at the custom front door entry and continues throughout the home with tongue-and-groove ceilings, 8-foot trim baseboards, 12-foot soaring ceilings, an open concept, upgraded quartz in all bathrooms, a beautiful gourmet kitchen, and top-of-the-line appliances.

Kelly Testa 904.607.0910 kelly.testa@compass.com

5 0

5 0

M A R K E T R E P O R T Q 3 C O M P A S S I N S I G H T S

A MARKET SNAPSHOT

Greater Orlando

This magical market offers man-made and natural wonders for endless exploration. Adventure seekers feel right at home in this bustling, central city. Known as “The City Beautiful,” Orlando offers the best of both real estate worlds. From rental to personal properties, buyers and sellers have the cream of the crop in commercial and residential communities.

5 1

M A R K E T R E P O R T Q 3

GREATER ORLANDO

3,090

For Sale

-39.9%

10,093

Single-Family Homes

Sold

-1%

10,207

Pending

+2.0%

Months of Inventory

Sale-to-List Ratio

Days on Market

0.9

99

24

Q3 2021

-45.0%

+3.1%

-52.0%

YoY Change

956

For Sale

-56.8%

3,224

Sold

Condos

+25.4%

3,320

Pending

+27.2%

Months of Inventory

Sale-to-List Ratio

Days on Market

0.9

99

33

Q3 2021

-65.2%

+2%

-36.5%

YoY Change

5 2

M A R K E T R E P O R T Q 3

GREATER ORLANDO

Apopka

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

153

107

-30.1%

18

13

-27.8%

Average Active Listings

$148

$183

23.6%

$137

$172

25.5%

Average $/SF

96

39

-59.4%

66%

25

-62%

Average DOM

$355,051

$403,434

13.6%

$206,588

$292,919

41.8%

Median List Price

Sellers

Sellers

73

83

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Davenport

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

454

120

-73.6%

283

44

-84.5%

Average Active Listings

$144

$180

25.0%

$124

$167

34.7%

Average $/SF

113

39

-65.5%

124

26

-79.0%

Average DOM

$333,926

$397,612

19.1%

$192,615

$270,664

40.5%

Median List Price

Sellers

Sellers

84

76

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

5 3

M A R K E T R E P O R T Q 3

GREATER ORLANDO

Kissimmee

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

1,217

448

-63.2%

667

229

-65.7%

Average Active Listings

$149

$188

26.2%

$151

$190

25.8%

Average $/SF

138

49

-64.5%

121

80

-33.9%

Average DOM

$353,775

$442,282

25.0%

$226,846

$278,791

22.9%

Median List Price

Sellers

Sellers

71

62

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

Orlando

SINGLE FAMILY INVENTORY

CONDO INVENTORY

YoY Change

YoY Change

Q3 2020

Q3 2021

Q3 2020

Q3 2021

1,431

849

-40.7%

957

482

-49.6%

Average Active Listings

$179

$218

21.8%

$162

$178

9.9%

Average $/SF

95

52

-45.3%

143

103

-28.0%

Average DOM

$396,215

$418,496

5.6%

$185,826

$194,503

4.7%

Median List Price

Sellers

Sellers

69

60

Q3 Market Action Index TM*

0 Buyers

30

100

0 Buyers

30

100

Sellers

Sellers

* Graph Legend

Buyer’s Market (Supply>Demand)

Seller’s Market (Demand>Supply)

Balanced Marked (Demand = Supply)

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