Illustrated Properties Luxury Report

SOUTH FLORIDA REGIONAL MIAMI DADE | BROWARD | PALM BEACH | MARTIN | ST. LUCIE

South Florida is considered the metro area of the state extending from Palm Beach County to Miami-Dade County. The area radiates balmy temperatures and a luxury lifestyle, mixed with Latin and Caribbean cultures. The approximate 100 miles along the coast is home to roughly 5.4 million residents. If you are dreaming of a big-city getaway in Miami, a laid-back fishing trip off the coast of Fort Lauderdale, or an indulgent splurge in the Palm Beaches, you’ll find perfect weather all year- round. South Florida is home to a multitude of restaurants and entertainment options to experience including the historical Worth Avenue, Downtown City Place, Atlantic Avenue, Fort Lauderdale Beach, South Beach, and the Seminole Hard Rock Hotel & Casino.

Single Family Homes

% CHANGE (1 YEAR)

SINGLE FAMILY Number of Sales

2023 9973

2024

10858

▲8.9%

Average Sales Price

$2,464,912

$2,610,272

▲5.9%

Median Sales Price

$1,555,000

$1,600,000

▲2.9%

Average Square Footage

3,342

3,373

▲0.9%

Price Per Square Foot

$694

$721

▲3.8%

Average DOM

98

107

▲8.3%

Sales Sold at Original List Price

899

857

▼4.7%

Top Sale Price

$79,000,000

$72,250,000

▼8.5%

Total Sale Volume

$24,582,566,735 $28,342,332,850 ▲15.3%

Condos & Townhomes

% CHANGE (1 YEAR)

CONDO/CO-OP/TOWNHOME

2023 4335

2024

Number of Sales

4116

▼5.1%

Average Sales Price

$2,346,180

$2,373,472

▲1.2%

Median Sales Price

$1,675,000

$1,675,000

▲0.0%

Average Square Footage

2,305

2,310

▲0.2%

Price Per Square Foot

$987

$1,002

▲1.6%

Average DOM

136

138

▲1.1%

Sales Sold at Original List Price

562

354

▼37.0%

Top Sale Price

$27,100,000

$48,000,000

▲77.1%

Total Sale Volume

$10,170,691,941

$9,769,210,768 ▼3.9%

Top 5 States for Incoming Buyers NEW YORK | NEW JERSEY | ILLINOIS | MASSACHUSETTS | PENNSYLVANIA

LUXURY REPORT

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