South Beach Market Report

February 2024
Dunja Green
South Beach Realtor®
4159904883
dunja.green@compass.com
Condo

CHANGE FROM JAN CHANGE FROM FEB

FEB 2024
2024 2023

Homes sold 15 67% 50%

Homes for sale 87 10% 4.4%

Median days on market 84 27% 200%

Median price per square foot $1,040 7.6% 5.9%

Months of inventory 5.8 34% 36%

Median sold price $1,375,000 5.8% 17%

Homes under contract 17 89% 31%

Information believed to be accurate but not warranted. Copyright 2021 Compass. All rights reserved.
https://www.compass.com/legal/terms-of-service/
Homes for sale
Number of homes listed for sale, end of month

150

112
95 98
100 91
86
91
85 85
91 87
82 79
76
70 65

50

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24

New listings
Number of homes newly listed for sale, during the month

75

51
50
41 39
37 36 36 35
30 32
27
25 21 21
15
10
5
0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24

Homes under contract

Number of homes that went into contract

30

21 21
20 17 17
15 15 15
14 13 13
12 11 11
9 9
10

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24

Information believed to be accurate but not warranted. Copyright 2021 Compass. All rights reserved.
https://www.compass.com/legal/terms-of-service/
Homes sold
Number of homes sold

30

23

20 19
17 17 17
15
13 14
12
10 9 10 9 9 9
10

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24

Months of inventory
Months of inventory based on sold listings

15

10
10 9.1 8.8
8.4
7 7.1 7 7.2
6.5 6.6
5.8
4.8 5.3
4.5
5 4.1

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24

Sold/List Price %
Sold price/original list price %

150

93 95 97 94 95 94 96 95 97 95 95
100 88 92 89
81

50

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24

Information believed to be accurate but not warranted. Copyright 2021 Compass. All rights reserved.
https://www.compass.com/legal/terms-of-service/
Median sold price
Median price of sold homes (in 1000s)

2k
1,650
1,475 1,525
1,375
1,300 1,300
1,175 1,180 1,200 1,180 1,175
1,075 1,115
1,000
1k 900

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24

Median price per square foot

Median price per square foot of sold homes

1500
1,244 1,260
1,106 1,092 1,126
1,030 1,058 1,049 1,067 1,071 1,073 1,040
977 1,012
1000 925

500

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24

Median days on market

Median days on market of sold listings

150

115

100 90 90
82 81 84
66
58
50
50 42 42 39
36
28 23

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 Jan '24 Feb '24
Compass is a real estate broker licensed by the State of California, and makes no representations or warranties, express or implied, with respect to
current or future market conditions, or prices of residential properties at the time of this report or in the future. All information herein is intended for
informational purposes only and no warranty, express or implied, is made or should be assumed regarding the accuracy, adequacy, completeness,
legality, reliability, merchantability or fitness for a particular purpose of any information, in whole or in part, contained herein. Compass shall not be
deemed to be providing legal, accounting or other professional services. This is not intended to solicit the purchase or sale of any property. Equal
Housing Opportunity. Report published based on the following data sources: lake_tahoe_remetrolist, sf_mlslistings, sf_ebrd, sf_resfar. The report
includes data from the Northern California region, and the following counties: San Francisco County, with the following property types: Condo; over
the last 15 months preceding March 7th, 2024.

Information believed to be accurate but not warranted. Copyright 2021 Compass. All rights reserved.
https://www.compass.com/legal/terms-of-service/