• In a New Douglas Elliman market report, South Florida is successfully recovering from the downtown.
  • Several records were set in key sales stats.
  • Across South Florida, distressed sales have dropped off significantly.

Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

In a year-end Douglas Elliman market report, the theme that unites South Florida real estate trends just may be recovery.In large part, single-family homes outperformed condos, and prices inched upward. As inventories climbed, sales volumes slid.Several records were set. In Palm Beach, records were set on price per-square-foot, which came in at more than $2,000.Across the region, distressed sales fell off precipitously.In the Miami Beach/Barrier Islands submarket, year-to-date prices inched up, but compared to a year ago, the median sales price declined, while the average price increased. According to the report, the average price in this submarket is a whopping $946,683. That’s a jump of more than 5 percent from last year. Days on market fell from 53 to 49.But t...