2022 Annual MarketReport

TREN DS
2022
ANNUAL
MARKET
REPORT
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LOCAL EXPERTISE WITH
A GLOBAL PERSPECTIVE
I’m thrilled to share our annual market report for 2022, offering meaningful insights about
the state of the market, comparisons to 2021, and indicators of what we can look forward
to in 2023. Florida continued to lead the US residential real estate market, with strong
demand and pricing offsetting headwinds from rising interest rates and a shifting global
economic landscape. Our state is growing both economically and demographically, which
has resulted in record-high prices for single-family homes and condos.
ONE Sotheby’s International Realty continued to build upon our unparalleled network
and further position our brand as the preeminent source for luxury real estate across
Florida’s entire east coast. In 2022, we experienced tremendous growth and expanded
to new markets, including Jacksonville, St. Augustine, Palm Coast, Ponte Vedra Beach,
Amelia Island, and Brevard County - with acquisitions that included First Coast Sotheby’s
International Realty and SunCoast Real Estate Group in Brevard. We also opened our new
headquarters in Coconut Grove and an office in Cocoa Village. Our exceptional agents broke
numerous price records and continued to elevate the real estate experience. At the same
time, our Development Division launched some of the area’s most prestigious projects,
including St. Regis Residences Miami, Pier 66 Fort Lauderdale, and The Village at Coral
Gables. Our team and technology received industry-wide accolades including being voted
the Best Luxury Brokerage in Florida by Luxury Lifestyle Magazine and Best Brokerage
Website by South Florida Agent Magazine, as well as recognitions from RIS Media, Florida
Trend, and South Florida Business Journal. We hosted our largest ONE Summit on record,
with over a thousand agents from our global Sotheby’s International Realty’s network who
flew in from around the world.
I am incredibly proud of what our team accomplished in 2022. We navigated a quickly

changing market and continued to build our footprint and capabilities. Despite the
ABOUT TRENDS:
expectation that rates will fluctuate in 2023, all the data we have points to resiliency in ONE Sotheby’s International Realty
presents the only market report
buyer demand and limited supply in Florida, which is a recipe for pricing to remain strong. focused on Florida’s East Coast.
As our market remains the focus of global attention, I look forward to what we will achieve From Miami to Amelia Island, data is
presented from a macro perspective
together in 2023.
down to city level.
Data is sourced from local Multiple

Listing Service (MLS) organizations.
Daniel de la Vega Written analysis created in partnership
with the Rosen Consulting Group,
President
a nationally recognized consulting firm
ONE Sotheby’s International Realty
and trusted advisor to top public
and private real estate operators and
capital providers.
A N N UA L
2022
THE REAL ESTATE MARKET M A RK E T

RE P O RT
ALONG FLORIDA’S EAST COAST
Following a record-setting pace in 2021, more than 148,000 single-family homes and condos sold across the east
coast of Florida in 2022, a decline of roughly 22%. The drop in sales activity was consistent along the northeast and
southeast coastlines. However, sales tallies held up better in some counties, with comparatively smaller declines in
Brevard and Nassau counties.
By price range, transactions at the upper tiers generally slowed in comparison to most affordable homes in the past
year. In 2022, 18% fewer single-family homes sold in the $3.5 million to $5 million range and 12% fewer in the $2
million to $3.5 million range. Conversely, sales of homes priced less than $1 million increased from 2021. In some
counties, trends were reversed. Sales of higher-priced homes increased in Broward, Nassau and St. Johns counties.
Within the condo segment, sales totals were mixed. Sales of condo units priced above $3.5 million were on par with
a strong 2021, while sales of units priced between $500,000 and $1 million increased by 7%. Sales of units priced
between $1 million and $3.5 million fell by 11%. Trends varied by geography as well, with the highest-priced tiers
recording more sales than the previous year in Broward and Palm Beach counties in southeast Florida and Duval and
St. Johns counties in northeast Florida.
AVERAGE SALES PRICE BY COUNTY

FLORIDA’S EAST COAST
DEC 2021 DEC 2022 DEC 2021 DEC 2022
SINGLE-FAMILY HOMES CONDOMINIUMS

The median price of transactions closed in 2022 was By the end of 2022, slightly more than 33,000 single-
higher than in 2021, with the median for single-family family homes and condos were listed along the east
homes up by 15% and condos 17% higher. Much of the coast of Florida. Since the close of 2021, single-family
increase in pricing occurred through the summer, with home listings have increased by 66% and condo
some softening in the second half of the year. Price listings by 32%. Despite the surge in listings, the
gains in Clay and Flagler counties paced the northeast number of available homes remains lower than the
coast. At the same time, Palm Beach County single- historical average. By region, listings increased in
family and Brevard and Martin condos outperformed southeast Florida and decreased in northeast Florida.
along the southeast coast. Pricing trends for listings varied as well, with the
average price of a listed single-family home up by
Buyer demand was resilient in 2022 in the face of more than 10% in 2022 while the average price of
headwinds and competition for homes in prime condo listings declined by 3%.
neighborhoods persisted. The average time on market
of a sold home in 2022 was 40 days, more than 10 Despite the slower market conditions than the
days fewer than in 2021. Time on the market less than previous year, market activity held up throughout
60 days typically indicates a seller’s market. Single- much of the region in 2022. Buyers will adjust to
family homes sold in less than 35 days, on average. higher mortgage rates and the rebounding equity
The average condo unit sold in 2022 was listed for less markets may help fuel cash transactions. A full
than 47 days, a sharp decline from more than 70 days recovery of international buyers, held back by several
in 2021. factors, including a strong dollar, would boost sales in
the coming year.
MEDIAN SALES PRICE $445,000

FLORIDA’S EAST COAST -1%
THE REAL ESTATE MARKET A N N UA L
2022
ALONG FLORIDA’S EAST COAST

M A RK E T
RE P O RT
FOR SALE MEDIAN SALES PRICE AVG SALES PRICE PRICE PER SF CLOSED TRANSACTIONS HIGHEST SALES
CHANGE FROM YOY% YOY% YOY% YOY%

DEC 22 2022 2022 2022 2022 2022
PRIOR YEAR CHANGE CHANGE CHANGE CHANGE
MIAMI-DADE COUNTY
SINGLE FAMILY HOMES 4,108 70% $560,000 12% $990,951 -1% $420 13% 11,605 -22% $45,250,000
CONDOS 6,719 8% $392,750 15% $678,657 10% $471 19% 18,082 -18% $23,500,000
BREVARD COUNTY
SINGLE FAMILY HOMES 1,736 161% $360,000 16% $433,772 16% $226 19% 9,763 -14% $5,300,000
CONDOS 424 87% $285,000 24% $373,412 22% $268 22% 1,859 -20% $2,680,000
BROWARD COUNTY
SINGLE FAMILY HOMES 3,483 130% $560,000 16% $774,035 15% $351 20% 13,474 -23% $32,500,000
CONDOS 4,083 51% $250,000 16% $361,515 22% $269 25% 16,750 -17% $15,400,000
INDIAN RIVER COUNTY
SINGLE FAMILY HOMES 775 185% $385,000 15% $569,544 2% $265 16% 2,557 -25% $20,000,000
CONDOS 305 228% $266,400 16% $401,706 18% $264 23% 1,010 -33% $3,620,820
MARTIN COUNTY
SINGLE FAMILY HOMES 208 235% $630,000 18% $839,631 7% $341 20% 775 -35% $9,000,000
CONDOS 158 690% $285,000 27% $358,597 9% $270 25% 533 -30% $3,100,000
PALM BEACH COUNTY
SINGLE FAMILY HOMES 3,664 141% $615,000 21% $1,039,418 7% $383 22% 12,839 -27% $55,000,000
CONDOS 3,378 115% $295,000 22% $463,267 15% $254 19% 12,778 -27% $23,750,000
CLAY COUNTY
RESIDENTIAL 226 -34% $350,000 19% $374,770 19% $189 21% 3,966 -21% $4,600,000
DUVAL COUNTY
RESIDENTIAL 782 -52% $305,000 15% $362,520 16% $203 19% 16,593 -27% $6,000,000
FLAGLER COUNTY
RESIDENTIAL 263 -56% $372,700 18% $451,961 16% $235 20% 4,552 -18% $3,195,000
NASSAU COUNTY
RESIDENTIAL 202 -56% $425,990 14% $566,111 18% $267 16% 3,788 -15% $13,350,000
ST. JOHNS COUNTY
RESIDENTIAL 525 -61% $480,000 18% $593,027 19% $280 22% -21% $12,216,000
10,004
SOLD ABOVE LISTED PRICE
SINGLE-FAMILY HOMES ABOVE LISTING PRICE AT LISTING PRICE OR LOWER CONDOMINIUMS
DEC DEC DEC DEC

2021 2022 2021 2022
AVAILABLE INVENTORY
SINGLE- FAMILY HOMES AND CONDOMINIUMS
Oct 2022 Nov 2022 Dec 2022
↓2%
0%
0%
↑1%
↑3%
↓24%
↓8% ↓12%
↑4% ↑13% ↓23%
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© 2022 ONE Sotheby’s International Realty. All rights reserved. Sotheby’s International Realty® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used
with permission. ONE Sotheby’s International Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided
by independently owned and operated franchisees are not provided by, affiliated with or related to Sotheby’s International Realty Affiliates LLC or any of its affiliated companies. The information contained herein is deemed accu-
rate but not guaranteed. Oral representations cannot be relied upon as correctly stating the representations of the developer. For correct representations, reference should be made to the documents required by section 718.503,
Florida Statutes, to be furnished by a developer to a buyer or lessee.
Pricing subject to change without notice.
SINGLE-FAMILY HOMES
Miami-Dade County
TIGHT MARKET AND FEWER SALES
Sales dropped by the second-lowest amount in the
region. Though inventory increased, the market
remains tight.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Miami-Dade County
SALES BY NEIGHBORHOOD
AVG SALES PRICE PRICE PER SF CLOSED TRANSACTIONS DAYS ON MARKET
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
MIAMI-DADE COUNTY $990,951 $1,003,510 -1% $420 13% 11,605 -22% 41
AVENTURA $2,792,577 $1,466,474 90% $668 50% 26 -60% 71
BAL HARBOUR $24,776,300 $4,883,750 407% $3,431 241% 3 -70% 423
BAY HARBOR ISLANDS $4,535,824 $3,668,065 24% $1,275 57% 17 -45% 70
COCONUT GROVE $1,462,000 $2,955,000 -50.50% $792 -13.90% 10 -67.70% 84
CORAL GABLES $2,810,604 $2,186,848 29% $829 36% 416 -46% 48
FISHER ISLAND N/A N/A N/A N/A N/A - N/A N/A
GOLDEN BEACH $9,571,000 $6,427,186 49% $1,852 59% 10 -64% 236
INDIAN CREEK N/A $25,216,667 N/A N/A N/A - N/A N/A
KEY BISCAYNE $5,181,788 $4,137,709 25% $1,358 26% 57 -54% 117
MIAMI $756,567 $724,378 4% $378 17% 5,497 -17% 40
MIAMI BEACH $5,470,225 $4,926,000 11% $1,351 27% 240 -55% 80
MIAMI SHORES $1,334,629 $1,056,824 26% $631 34% 153 -33% 35
NORTH BAY VILLAGE $1,836,149 $1,562,626 18% $812 38% 26 -38% 36
PINECREST $2,991,252 $2,166,066 38% $700 40% 195 -47% 52
SOUTH MIAMI $1,479,260 $1,154,829 28% $624 36% 102 -34% 43
SUNNY ISLES BEACH $1,924,091 $2,222,087 -13% $1,036 5% 11 -63% 94
SURFSIDE $2,347,652 $1,420,218 65% $1,036 65% 46 -47% 36
PRICE RANGE AVG SALES PRICE PRICE PER SF CLOSED TRANSACTIONS DAYS ON MARKET
YOY%
2022 2021 YOY% CHANGE 2022 2022 YOY% CHANGE 2022
CHANGE
<$500,000 $403,633 $381,185 6% $300 16% 4,608 -38% 36
$500,000-$999,999 $670,580 $680,917 -2% $358 9% 4,776 6% 38
$1MM-$4.99MM $1,989,594 $2,032,730 -2% $692 13% 1,981 -21% 53
>$5MM $10,399,878 $11,110,381 -6% $1,796 7% 240 -31% 115
SOLD ABOVE LISTED PRICE AVAILABLE LISTINGS
↓ 4%
DEC DEC
2021 2022
ABOVE LISTING PRICE AT LISTING PRICE OR LOWER

CONDOMINIUMS
Miami-Dade County
CONDOS SELLING FASTER THAN 2021
The average time on the market for units sold in 2022
fell substantially. During the year, roughly 20% of
condos sold for more than the list price.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Miami-Dade County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
MIAMI-DADE COUNTY $678,657 $616,706 10% $471 19% 18,082 -18% 66
AVENTURA $642,478 $527,131 22% $368 26% 1,420 -24% 73
BAL HARBOUR $2,449,816 $1,823,639 34% $1,066 27% 169 -31% 145
BAY HARBOR ISLANDS $672,468 $539,960 25% $473 27% 172 -27% 82
BRICKELL/DOWNTOWN MIAMI/EDGEWATER $804,974 $626,135 29% $608 31% 2,236 -21% 79
COCONUT GROVE $1,203,000 $1,162,000 3.50% $823 18.90% 19 -54.80% 61
CORAL GABLES $778,255 $621,984 25% $531 29% 356 -15% 51
FISHER ISLAND $8,640,000 $6,404,549 35% $2,448 43% 5 -83% 31
GOLDEN BEACH N/A N/A N/A N/A N/A - N/A N/A
INDIAN CREEK N/A N/A N/A N/A N/A - N/A N/A
KEY BISCAYNE $1,814,641 $1,344,266 35% $929 36% 226 -50% 65
MIAMI $462,647 $391,530 18% $380 24% 5,247 -17% 49
MIAMI BEACH $963,433 $1,083,041 -11% $694 7% 2,802 -11% 90
MIAMI SHORES $300,780 $264,691 14% $277 23% 25 -22% 69
NORTH BAY VILLAGE $479,843 $329,042 46% $357 28% 229 -5% 100
PINECREST $484,713 $303,366 60% $348 27% 56 -43% 37
SOUTH MIAMI $362,028 $342,730 6% $358 19% 32 -14% 19
SUNNY ISLES BEACH $1,331,352 $1,064,912 25% $662 24% 1,077 -28% 96
SURFSIDE $2,543,794 $2,068,101 23% $1,021 14% 85 -38% 119
YOY%
CHANGE
<$500,000 $306,023 $277,961 10% $321 17% 11,698 -26% 54
$500,000-$999,999 $688,832 $696,425 -1% $559 11% 4,084 12% 73
$1MM-$4.99MM $1,874,766 $1,903,364 -2% $941 7% 2,071 -9% 103
>$5MM $8,715,281 $8,832,446 -1% $2,218 6% 229 -12% 178
DEC DEC ↓ 1%
2021 2022

SINGLE-FAMILY HOMES
Broward County
SALES SLOW MODESTLY
While fewer homes sold in 2022, the decrease was one
of the smaller drops in the region. At the same time,
competition fell with less homes sold at a premium to
the list price.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Broward County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
BROWARD COUNTY $361,515 $297,495 22% $269 25% 16,750 -17% 43
COOPER CITY $402,285 $335,443 20% $285 20% 67 -36% 17
CORAL SPRINGS $247,635 $199,267 24% $208 26% 608 -10% 27
DAVIE $286,066 $240,134 19% $221 23% 497 -30% 25
DEERFIELD BEACH $229,862 $194,074 18% $195 24% 1,161 -7% 32
FORT LAUDERDALE $777,857 $557,541 40% $471 38% 2,390 -26% 69
HALLANDALE $376,174 $305,059 23% $314 24% 1,214 -18% 63
HILLSBORO BEACH $794,835 $628,071 27% $482 35% 91 -41% 60
HOLLYWOOD $453,443 $373,261 21% $364 31% 1,423 -15% 60
LAUDERDALE-BY-THE-SEA $790,774 $631,400 25% $454 22% 203 -25% 44
LIGHTHOUSE POINT $230,089 $236,831 -3% $194 14% 120 -8% 26
MIRAMAR $330,073 $278,420 19% $257 23% 390 -20% 26
PARKLAND $537,921 $415,957 29% $313 32% 53 -37% 24
PEMBROKE PINES $268,323 $222,962 20% $220 22% 1,177 -14% 31
PLANTATION $262,314 $222,110 18% $205 17% 460 -28% 33
POMPANO BEACH $354,864 $294,853 20% $277 23% 1,397 -28% 31
SOUTHWEST RANCHES N/A N/A N/A N/A N/A - N/A N/A
SUNRISE $218,362 $177,356 23% $188 27% 988 -5% 38
WESTON $369,064 $299,413 23% $274 22% 249 -31% 29
WILTON MANORS $398,659 $317,985 25% $304 24% 162 -16% 32
YOY%
CHANGE
<$500,000 $388,214 $367,513 6% $287 17% 5,559 -42% 32
$500,000-$999,999 $686,397 $671,390 2% $336 16% 5,918 -2% 27
$1MM-$2.99MM $1,553,991 $1,547,193 0% $521 14% 1,735 4% 42
>$3MM $5,774,785 $5,880,754 -2% $971 7% 262 -10% 98
DEC DEC
2021 2022 ↓ 6%

CONDOMINIUMS
Broward County
HIGHEST NUMBER OF TRANSACTIONS
IN DECEMBER
While annual sales slowed in 2022, Broward County
had the most condominium sales in the region for
the month of December. The number of sales priced
above $3 million more than doubled in 2022.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Broward County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
BROWARD COUNTY $361,515 $297,495 22% $269 25% 16,750 -17% 43
COOPER CITY $402,285 $335,443 20% $285 20% 67 -36% 17
CORAL SPRINGS $247,635 $199,267 24% $208 26% 608 -10% 27
DAVIE $286,066 $240,134 19% $221 23% 497 -30% 25
DEERFIELD BEACH $229,862 $194,074 18% $195 24% 1,161 -7% 32
FORT LAUDERDALE $777,857 $557,541 40% $471 38% 2,390 -26% 69
HALLANDALE $376,174 $305,059 23% $314 24% 1,214 -18% 63
HILLSBORO BEACH $794,835 $628,071 27% $482 35% 91 -41% 60
HOLLYWOOD $453,443 $373,261 21% $364 31% 1,423 -15% 60
LAUDERDALE-BY-THE-SEA $790,774 $631,400 25% $454 22% 203 -25% 44
LIGHTHOUSE POINT $230,089 $236,831 -3% $194 14% 120 -8% 26
MIRAMAR $330,073 $278,420 19% $257 23% 390 -20% 26
PARKLAND $537,921 $415,957 29% $313 32% 53 -37% 24
PEMBROKE PINES $268,323 $222,962 20% $220 22% 1,177 -14% 31
PLANTATION $262,314 $222,110 18% $205 17% 460 -28% 33
POMPANO BEACH $354,864 $294,853 20% $277 23% 1,397 -28% 31
SOUTHWEST RANCHES N/A N/A N/A N/A N/A - N/A N/A
SUNRISE $218,362 $177,356 23% $188 27% 988 -5% 38
WESTON $369,064 $299,413 23% $274 22% 249 -31% 29
WILTON MANORS $398,659 $317,985 25% $304 24% 162 -16% 32
YOY%
CHANGE
<$500,000 $241,479 $217,652 11% $219 17% 14,355 -21% 37
$500,000-$999,999 $666,212 $676,609 -2% $453 13% 1,729 16% 56
$1MM-$2.99MM $1,636,357 $1,528,921 7% $729 21% 551 -5% 107
>$3MM $4,655,825 $3,906,832 19% $1,660 68% 115 150% 305
DEC DEC ↑4%

2021 2022

SINGLE-FAMILY HOMES
Palm Beach County

PRICE LEADER
The median price increase led the southeast Florida
region, reaching 21% in 2022. Sales activity in the
$1 million to $5 million range were on par with the
previous year.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Palm Beach County

YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
PALM BEACH COUNTY $1,039,418 $975,927 7% $383 22% 12,839 -27% 33
BOCA RATON $1,268,418 $1,154,664 10% $423 24% 2,003 -31% 32
BOYNTON BEACH $580,561 $480,170 21% $281 26% 1,922 -10% 26
DELRAY BEACH $1,147,650 $1,123,671 2% $422 25% 1,144 -27% 34
HIGHLAND BEACH $15,325,455 $9,378,513 63% $1,628 29% 11 -50% 75
JUNO BEACH $2,367,250 $1,485,214 59% $781 45% 12 -57% 46
JUPITER $1,376,586 $1,233,962 12% $499 28% 812 -27% 32
JUPITER INLET COLONY $8,786,500 $3,641,562 141% $1,902 58% 6 -14% 63
LAKE PARK $420,475 $347,821 21% $269 30% 48 -16% 34
LAKE WORTH $571,712 $465,574 23% $270 23% 1,229 -28% 30
LANTANA $901,948 $836,341 8% $358 10% 109 -22% 40
NORTH PALM BEACH $2,134,384 $2,643,112 -19% $601 7% 120 -39% 38
MANALAPAN $8,303,571 $1,150,000 -59% $1,764 4% 7 -63% $90
PALM BEACH $15,407,038 $11,981,074 29% $3,366 55% 71 -51% 74
PALM BEACH GARDENS $1,356,055 $1,149,957 18% $439 30% 815 -36% 35
SINGER ISLAND $2,859,615 $1,460,787 96% $940 75% 13 -61% 17
TEQUESTA $1,716,623 $1,462,469 17% $606 19% 63 -26% 33
WELLINGTON $1,244,670 $1,058,062 18% $405 27% 754 -33% 46
WEST PALM BEACH $750,552 $616,391 22% $342 26% 1,634 -28% 36
YOY%
CHANGE
<$500,000 $386,699 $366,542 5% $246 16% 4,331 -49% 31
$500,000-$999,999 $691,813 $678,402 2% $326 17% 5,805 -3% 28
$1MM-$4.99MM $1,917,032 $1,993,337 -4% $581 11% 2,430 -4% 42
>$5MM $10,974,136 $11,444,902 -4% $1,986 25% 273 -35% 88
DEC DEC ↓ 6%
2021 2022

CONDOMINIUMS
Palm Beach County

HIGH-PRICED CONDOS PACE COUNTY
Sales of condos priced greater than $5 million
increased in the last year while overall sales were lower.
The average price per square foot in the upper-price
tier increased by nearly 20%.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Palm Beach County

YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
PALM BEACH COUNTY $463,267 $402,321 15% $254 19% 12,778 -27% 32
BOCA RATON $507,503 $489,092 4% $273 11% 2,293 -32% 37
BOYNTON BEACH $308,843 $224,196 38% $180 33% 1,330 -23% 29
DELRAY BEACH $350,778 $270,734 30% $199 25% 1,948 -23% 29
HIGHLAND BEACH $1,200,741 $939,501 28% $584 29% 201 -38% 45
JUNO BEACH $1,024,869 $675,709 52% $574 58% 86 -48% 27
JUPITER $630,134 $470,765 34% $372 33% 662 -37% 22
JUPITER INLET COLONY N/A N/A N/A N/A N/A - N/A N/A
LAKE PARK $266,680 $241,612 10% $165 -3% 66 29% 30
LAKE WORTH $229,500 $180,934 27% $148 25% 717 -18% 31
LANTANA $292,502 $264,408 11% $182 14% 112 -18% 31
NORTH PALM BEACH $602,658 $561,877 7% $288 6% 278 -33% 35
MANALAPAN N/A N/A N/A N/A N/A - N/A N/A
PALM BEACH $2,159,913 $1,450,317 49% $923 38% 297 -42% 50
PALM BEACH GARDENS $496,885 $395,712 26% $282 27% 619 -33% 24
SINGER ISLAND $1,165,871 $1,129,171 3% $560 20% 130 -52% 55
TEQUESTA $895,825 $414,723 116% $484 84% 80 -40% 22
WELLINGTON $467,904 $373,985 25% $285 30% 184 -26% 31
WEST PALM BEACH $318,210 $290,515 10% $184 19% 2,182 -26% 32
YOY%
CHANGE
<$500,000 $256,040 $223,737 14% $165 15% 10,102 -30% 30
$500,000-$999,999 $684,322 $682,862 0% $406 5% 1,769 -8% 32
$1MM-$4.99MM $1,951,369 $1,917,017 2% $865 14% 848 -23% 54
>$5MM $7,928,626 $7,593,153 4% $2,080 19% 59 7% 62
DEC DEC ↓
7%
2021 2022

SINGLE-FAMILY HOMES
Martin County
MEDIAN PRICE FINISHES
THE YEAR STRONG
The median price increased by the second-
highest amount in Southeast Florida even as
inventory increased.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Martin County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
MARTIN COUNTY $839,631 $786,654 7% $341 20% 775 -35% 33
HOBE SOUND $615,200 $716,408 -14% $294 10% 76 -45% 22
HUTCHINSON ISLAND $2,887,583 $2,594,831 11% $661 19% 12 -67% 35
JENSEN BEACH $590,658 $513,110 15% $306 21% 107 -36% 23
JUPITER ISLAND $11,949,598 $11,671,500 2% $2,132 40% 15 -57% 63
PALM CITY $842,362 $679,556 24% $327 -40% 524 -34% 29
SEWALL'S POINT $1,883,669 $1,393,033 35% $509 33% 44 -51% 54
STUART $747,713 $714,817 5% $335 19% 250 -35% 33
YOY%
CHANGE
<$500,000 $397,485 $364,794 9% $263 21% 244 -55% 25
$500,000-$999,999 $699,661 $680,073 3% $312 17% 374 -18% 28
$1MM-$2.99MM $1,518,793 $1,684,681 -10% $491 8% 141 -20% 51
>$3MM $4,869,063 $4,738,707 3% $851 20% 16 -47% 108
↓
DEC DEC 0.5%
2021 2022

CONDOMINIUMS
Martin County
INVENTORY COMES TO MARKET
Inventory increased in 2022, providing potential buyers
with more opportunities than in 2021 when the year
ended with just 20 units available.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Martin County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
MARTIN COUNTY $358,597 $327,647 9% $270 25% 533 -30% 26
HOBE SOUND $308,891 $274,857 12% $219 26% 32 -52% 15
HUTCHINSON ISLAND $657,207 $632,507 4% $456 26% 98 -24% 30
JENSEN BEACH $346,538 $240,268 44% $245 36% 66 50% 30
PALM CITY $294,665 $212,469 39% $182 63% 47 -37% 27
STUART $274,063 $266,780 3% $227 19% 292 -38% 27
YOY%
CHANGE
<$500,000 $279,915 $225,763 24% $235 29% 458 -33% 26
$500,000-$999,999 $660,934 $654,355 1% $438 16% 60 50% 27
$1MM-$2.99MM $1,441,071 $1,743,153 -17% $640 3% 14 -65% 42
>$3MM $3,100,000 N/A N/A $1,015 N/A 1 N/A 5
↓
DEC DEC 8%
2021 2022

SINGLE-FAMILY HOMES
Indian River County

BUYER COMPETITION PERSISTS
More homes sold above the asking price in 2022,
with 28% of homes in Indian River County sold at a
premium. Homes priced greater than $3 million sold
more quickly than in 2021.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Indian River County

YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
INDIAN RIVER COUNTY $569,544 $556,724 2% $265 16% 2,557 -25% 53
BARRIER ISLAND $1,967,841 $1,711,618 15% $595 34% 240 -52% 67
MAINLAND VERO BEACH $358,587 $431,571 20% $230 25% 1,281 -30% 61
SEBASTIAN/FELLSMERE $363,491 $317,279 15% $213 17% 460 -10% 58
YOY%
CHANGE
<$300,000 $244,111 $234,827 4% $202 21% 645 -53% 47
$300,000-$999,999 $473,761 $476,326 -1% $240 10% 1,689 -3% 53
$1MM-$2.99MM $1,725,845 $1,688,391 2% $573 20% 198 -18% 72
>$3MM $6,278,972 $5,824,800 8% $1,143 31% 25 -58% 113
↓
2%
DEC DEC
2021 2022

CONDOMINIUMS
Indian River County

SALES DECREASE
Transactions fell by one-third in 2022, the largest
decrease in the region. Despite the decline, pricing
remains higher than the previous year.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Indian River County

YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
INDIAN RIVER COUNTY $401,706 $341,430 18% $264 23% 1,010 -33% 50
BARRIER ISLAND $865,909 $657,577 32% $491 40% 215 -49% 52
MAINLAND VERO BEACH $258,809 $211,086 23% $197 29% 664 -28% 53
SEBASTIAN/FELLSMERE $302,222 $240,204 26% $228 27% 41 -46% 50
YOY%
CHANGE
<$300,000 $199,261 $176,270 13% $181 25% 594 -41% 50
$300,000-$999,999 $503,402 $529,580 -5% $324 4% 356 -19% 49
$1MM-$2.99MM $1,664,828 $1,611,031 3% $699 31% 56 -10% 64
>$3MM $3,730,205 $3,350,000 11% $1,607 81% 4 100% 11
↓
DEC DEC 6%
2021 2022

SINGLE-FAMILY HOMES
Brevard County
HOMES SELL QUICKLY COMPARED TO REGION
Brevard County led in fewest days it takes to sell a home by
the end of 2022, even as the average days on market was
81% higher than in 2021. The median price increased by
16% from the previous year.
AVERAGE SALES PRICE
DAYS ON MARKET
SINGLE-FAMILY HOMES
Brevard County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
BREVARD COUNTY $433,772 $374,994 16% $226 19% 9,763 -14% 20
COCOA $332,433 $269,442 23% $205 22% 989 -7% 19
COCOA BEACH $941,217 $779,555 21% $424 23% 120 -22% 36
GRANT $443,115 $539,279 -18% $223 -5% 147 48% 26
INDIALANTIC $751,841 $665,189 13% $341 22% 136 -37% 19
MALABAR $580,669 $521,939 11% $262 24% 63 -26% 27
MELBOURNE $458,345 $401,123 14% $230 19% 2,207 -22% 18
MELBOURNE BEACH $1,239,627 $902,630 37% $443 27% 162 -25% 33
MERRITT ISLAND $593,991 $485,788 22% $270 20% 688 -24% 23
MIMS $380,970 $318,633 20% $203 20% 225 9% 19
PALM BAY $330,304 $266,929 24% $193 22% 3,104 3% 19
ROCKLEDGE $485,852 $420,439 16% $236 19% 569 -21% 16
SATELLITE BEACH & INDIAN HARBOUR BEACH $671,080 $569,824 18% $334 24% 301 -26% 17
TITUSVILLE $334,493 $269,504 24% $192 23% 835 -18% 22
WEST MELBOURNE $458,711 $367,708 25% $226 32% 131 -63% 16
YOY%
CHANGE
<$300,000 $244,230 $231,195 6% $191 20% 2,708 -50% 19
$300,000-$999,999 $458,974 $457,286 0% $230 9% 6,779 19% 19
>$1MM $1,674,477 $1,580,942 6% $479 14% 276 5% 38
DEC DEC ↓ 2%
2021 2022

CONDOMINIUMS
Brevard County
PRICE GAINS HOLD IN 2022
Brevard County produced one of the largest year-over-year
price appreciations in the region, with the median price
increasing by 24%.
AVERAGE SALES PRICE
DAYS ON MARKET
CONDOMINIUMS
Brevard County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
BREVARD COUNTY $373,412 $307,015 22% $268 22% 1,859 -20% 36
COCOA $302,904 $263,117 15% $209 16% 97 -6% 23
COCOA BEACH $480,428 $396,009 21% $351 23% 333 -21% 26
GRANT N/A N/A N/A N/A N/A - N/A N/A
INDIALANTIC $596,654 $474,664 26% $371 27% 96 -30% 87
MALABAR N/A N/A N/A N/A N/A - N/A N/A
MELBOURNE $275,170 $229,298 20% $203 23% 298 -21% 28
MELBOURNE BEACH $700,130 $484,157 45% $368 37% 71 -1% 62
MERRITT ISLAND $255,062 $242,976 5% $203 19% 116 -21% 26
MIMS N/A N/A N/A N/A N/A - N/A N/A
PALM BAY $186,858 $171,645 9% $169 17% 60 -35% 23
ROCKLEDGE $242,320 $202,056 20% $190 22% 114 -19% 12
SATELLITE BEACH & INDIAN HARBOUR BEACH $543,701 $451,426 20% $343 22% 186 -31% 40
TITUSVILLE $254,900 $162,987 56% $190 35% 190 9% 72
WEST MELBOURNE $206,890 $140,000 11% $172 19% 29 -9% 13
YOY%
CHANGE
<$300,000 $196,291 $174,945 12% $203 17% 995 -32% 21
$300,000-$999,999 $529,195 $499,892 6% $333 13% 809 -1% 52
>$1MM $1,286,277 $1,415,031 -9% $486 16% 55 72% 69
DEC DEC ↓
16%
2021 2022

RESIDENTIAL
St. Johns County

MOST LUXURY HOMES SOLD
IN THE REGION
Not only were the most homes priced above $3 million sold
in the county, but sales increased from 2021 to 2022 as well.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
St. Johns County

YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
ST. JOHNS COUNTY $593,027 $498,997 19% $280 22% 10,004 -21% 42
JULINGTON CREEK AREA $600,030 $480,748 25% $234 23% 989 -31% 32
NOCATEE $737,266 $599,342 23% $295 23% 758 -16% 32
PONTE VEDRA BEACH $1,199,197 $991,068 21% $436 32% 653 -29% 39
SOUTHEAST ST JOHNS COUNTY $583,695 $490,473 19% $348 22% 768 -34% 43
ST. AUGUSTINE BEACHES/ANASTASIA ISLAND $408,408 $330,217 24% $238 20% 911 8% 54
ST. JOHNS $559,717 $460,781 21% $243 25% 989 -12% 41
SOUTHWEST ST JOHNS COUNTY $404,219 $344,442 17% $236 23% 307 -37% 38
ST. AUGUSTINE/VILANO BEACH $690,794 $526,406 31% $313 29% 458 -23% 47
WORLD GOLF VILLAGE AREA/PALENCIA $514,733 $445,342 16% $234 23% 1,235 -20% 44
YOY%
CHANGE
<$500,000 $368,009 $340,230 8% $239 19% 5,404 -38% 44
$500,000-$999,999 $666,284 $652,882 2% $290 12% 3,809 18% 39
$1MM-$3MM $1,532,460 $1,526,338 0% $467 12% 730 13% 46
>$3MM $4,710,707 $4,503,770 5% $1,022 38% 61 11% 89
DEC DEC
2021 2022
↓ 12%

RESIDENTIAL
Duval County
FEWER AND HIGHER-PRICED HOMES SELL
Annual transaction volume decreased by the largest amount
in the region compared with one year ago. The median price
per square foot increased by more than 20%.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
Duval County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
DUVAL COUNTY $362,520 $312,771 16% $203 19% 16,593 -27% 36
ARLINGTON/FORT CAROLINE $293,915 $265,904 11% $182 21% 1,495 -20% 43
AVONDALE/RIVERSIDE/ORTEGA $504,110 $428,691 18% $268 19% 536 -27% 42
BARTRAM $362,137 $306,678 18% $205 22% 415 -36% 24
BEACHES $752,996 $659,378 14% $394 16% 873 -32% 36
BEAUCLERC/MANDARIN $423,668 $352,902 20% $210 21% 1,242 -31% 33
DOWNTOWN JACKSONVILLE $157,648 $134,754 17% $126 24% 1,605 -15% 43
INTRACOASTAL $577,087 $460,282 25% $253 23% 1,626 -25% 34
NOCATEE (DUVAL) $413,624 $343,758 20% $232 22% 181 56% 41
NORTH JACKSONVILLE $339,543 $295,794 15% $178 19% 1,625 -22% 38
SAN MARCO/SAN JOSE $458,592 $374,985 22% $224 17% 567 -34% 39
SOUTHSIDE $300,796 $255,400 18% $194 20% 1,979 -31% 33
WEST JACKSONVILLE $276,406 $232,436 19% $174 22% 3,504 -21% 36
YOY%
CHANGE
<$500,000 $282,851 $256,099 10% $184 17% 14,135 -31% 36
$500,000-$999,999 $665,515 $654,970 2% $281 8% 2,064 11% 36
$1MM-$3MM $1,464,198 $1,544,878 -5% $445 6% 367 8% 54
>$3MM $3,933,898 $4,009,048 -2% $834 -2% 27 -4% 84
DEC DEC
2021 2022
↓ 24%

RESIDENTIAL
Clay County
PRICING AND TIME ON MARKET INCREASE
The average price increased by nearly 20% while homes
took longer to sell in 2022. The number of homes sold in
the $1 million to $3 million range nearly doubled.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
Clay County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
CLAY COUNTY $374,770 $316,206 19% $189 21% 3,966 -21% 36
FLEMING ISLAND $495,943 $408,174 22% $209 21% 529 -26% 31
GREEN COVE SPRINGS $374,662 $328,159 14% $193 20% 431 -8% 37
MIDDLEBURG/KEYSTONE $355,877 $295,909 20% $191 22% 985 -21% 37
ORANGE PARK $322,148 $273,135 18% $182 20% 673 -27% 38
OAKLEAF PLANTATION $364,539 $299,473 22% $179 23% 714 -22% 38
YOY%
CHANGE
<$500,000 $331,322 $292,140 13% $184 20% 3,469 -26% 35
$500,000-$999,999 $626,885 $629,567 0% $213 5% 465 53% 36
$1MM-$3MM $1,318,709 $1,346,147 -2% $346 12% 31 82% 80
>$3MM $4,600,000 N/A N/A $388 N/A 1 N/A 713
DEC DEC
2021 2022
↓
13%

RESIDENTIAL
Nassau County
COMPETITION ABOVE $1 MILLION
Buyer competition persisted throughout much of the
county, particularly in homes priced greater than $1 million.
The number of sales priced between $1 million and $3
million increased by 17%.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
Nassau County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
NASSAU COUNTY $566,111 $479,640 18% $267 16% 3,788 -15% 40
AMELIA ISLAND/FERNANDINA BEACH $785,141 $609,702 29% $356 23% 1,231 -29% 40
YULEE/WILDLIGHT $384,482 $317,104 21% $194 14% 565 2% 41
YOY%
CHANGE
<$500,000 $361,820 $328,590 10% $210 13% 2,394 -25% 39
$500,000-$999,999 $679,551 $672,713 1% $310 5% 1,133 8% 41
$1MM-$3MM $1,586,342 $1,589,621 0% $573 1% 238 17% 38
>$3MM $5,684,783 $4,451,071 28% $978 19% 23 64% 75
DEC DEC
2021 2022
↓ 23%

RESIDENTIAL
Flagler County
PRICE GAINS LEAD TO NEW PRICING TIER
After a slower 2021, several homes priced above the
$3 million mark sold in 2022.
AVERAGE SALES PRICE
DAYS ON MARKET
RESIDENTIAL
Flagler County
YOY% YOY%
2022 2021 YOY% CHANGE 2022 2022 2022
CHANGE CHANGE
FLAGLER COUNTY $451,961 $390,924 16% $235 20% 4,552 -18% 34
BUNNELL $322,030 $281,381 14% $188 16% 155 -29% 32
FLAGLER BEACH $579,262 $506,184 14% $347 22% 183 -38% 42
PALM COAST $449,000 $370,588 21% $228 23% 2,556 -21% 34
YOY%
CHANGE
<$500,000 $346,123 $304,517 14% $205 17% 3,498 -24% 33
$500,000-$999,999 $667,446 $671,439 -1% $314 14% 891 12% 37
$1MM-$3MM $1,473,452 $1,389,008 6% $435 15% 156 -10% 35
>$3MM $3,147,857 N/A N/A $679 N/A 7 N/A 112
DEC DEC
2021 2022
↓ 8%

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TREN DS

Primary Residences & Second Homes

Vacation Homes & Investment Properties

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I am incredibly proud of what our team accomplished in 2022. We navigated a quickly

Data is sourced from local Multiple

THE REAL ESTATE MARKET M A RK E T

ALONG FLORIDA’S EAST COAST

AVERAGE SALES PRICE BY COUNTY

DEC 2021 DEC 2022 DEC 2021 DEC 2022

SINGLE-FAMILY HOMES CONDOMINIUMS

MEDIAN SALES PRICE $445,000

ALONG FLORIDA’S EAST COAST

CHANGE FROM YOY% YOY% YOY% YOY%

SINGLE-FAMILY HOMES ABOVE LISTING PRICE AT LISTING PRICE OR LOWER CONDOMINIUMS

DEC DEC DEC DEC

Oct 2022 Nov 2022 Dec 2022

PRICED FROM $3.85M

AVERAGE SALES PRICE

<$500,000 $403,633 $381,185 6% $300 16% 4,608 -38% 36

$500,000-$999,999 $670,580 $680,917 -2% $358 9% 4,776 6% 38

$1MM-$4.99MM $1,989,594 $2,032,730 -2% $692 13% 1,981 -21% 53

>$5MM $10,399,878 $11,110,381 -6% $1,796 7% 240 -31% 115

SOLD ABOVE LISTED PRICE AVAILABLE LISTINGS

ABOVE LISTING PRICE AT LISTING PRICE OR LOWER

AVERAGE SALES PRICE

<$500,000 $306,023 $277,961 10% $321 17% 11,698 -26% 54

$500,000-$999,999 $688,832 $696,425 -1% $559 11% 4,084 12% 73

$1MM-$4.99MM $1,874,766 $1,903,364 -2% $941 7% 2,071 -9% 103

>$5MM $8,715,281 $8,832,446 -1% $2,218 6% 229 -12% 178

SOLD ABOVE LISTED PRICE AVAILABLE LISTINGS

ABOVE LISTING PRICE AT LISTING PRICE OR LOWER

AVERAGE SALES PRICE

<$500,000 $388,214 $367,513 6% $287 17% 5,559 -42% 32

$500,000-$999,999 $686,397 $671,390 2% $336 16% 5,918 -2% 27

$1MM-$2.99MM $1,553,991 $1,547,193 0% $521 14% 1,735 4% 42

>$3MM $5,774,785 $5,880,754 -2% $971 7% 262 -10% 98

SOLD ABOVE LISTED PRICE AVAILABLE LISTINGS

ABOVE LISTING PRICE AT LISTING PRICE OR LOWER

AVERAGE SALES PRICE

<$500,000 $241,479 $217,652 11% $219 17% 14,355 -21% 37

$500,000-$999,999 $666,212 $676,609 -2% $453 13% 1,729 16% 56

$1MM-$2.99MM $1,636,357 $1,528,921 7% $729 21% 551 -5% 107

>$3MM $4,655,825 $3,906,832 19% $1,660 68% 115 150% 305

SOLD ABOVE LISTED PRICE AVAILABLE LISTINGS

DEC DEC ↑4%

ABOVE LISTING PRICE AT LISTING PRICE OR LOWER

Palm Beach County

AVERAGE SALES PRICE

Palm Beach County

<$500,000 $386,699 $366,542 5% $246 16% 4,331 -49% 31

$500,000-$999,999 $691,813 $678,402 2% $326 17% 5,805 -3% 28

$1MM-$4.99MM $1,917,032 $1,993,337 -4% $581 11% 2,430 -4% 42

>$5MM $10,974,136 $11,444,902 -4% $1,986 25% 273 -35% 88

SOLD ABOVE LISTED PRICE AVAILABLE LISTINGS

ABOVE LISTING PRICE AT LISTING PRICE OR LOWER

Palm Beach County

AVERAGE SALES PRICE

Palm Beach County