South Florida by the numbers: Where the fish are

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

In the ultra-competitive world of South Florida residential real estate, some of the industry’s top players have taken the same advice they perpetually offer their own clients, laser-focusing on “location, location, location.” This means opening shiny, high-profile new offices to attract the major influx of post-Covid new (and future) local residents, as well as agents from competing brokerages. For most, the focus is on jumping into markets where the action is already hot, while others “zag” in an attempt to get ahead of the next curve. We examine the trend of big-name office openings this edition of “South Florida by the numbers.”

2

Number of offices Miami-based Cervera Real Estate will open in the Palm Beach area (one in the town of Palm Beach, one in West Palm Beach) by mid-March. As a brokerage known for its specialty of selling preconstruction condominiums, West Palm Beach is especially fertile territory for Cervera, with thousands of units planned for the city’s waterfront corridor. [TheRealDeal]

10

Number of years Compass has committed in the lease of its new 3,400 square-foot office on Palm Beach’s Worth Avenue. The space will serve more than 100 agents, where renovation was completed in just seven months. The new Palm Beach office follows two Compass office openings in April, one in Weston and one in Palm Beach Gardens [TheRealDeal]

84

Age of a 2,000-plus-square-foot house in downtown Delray Beach that opened this month, and will serve as yet another Compass office in Palm Beach County. The office, home to Compass team, The Platt Group, features an open work space, private offices, and a large conference and collaboration room. [SFBJ] 

3

Number of Douglas Elliman offices on Florida’s Gulf Coast, with the October opening of its Sarasota office. The other locations include St. Petersburg and Naples, with future consideration for expansion into Ponte Vedra Beach, Jacksonville Beach, and Tampa. The pandemic-fueled boom years have driven continuous high prices and demand in these markets, with Sarasota noted for a new construction boom highlighted by branded luxury condos. [TheRealDeal]

4

Possible number of local Engel & Völkers offices that new franchisee Daniel Nault and his partner, Vanessa Gomez, plan to open over the next five years. The pair acquired rights to the company’s Miami and Miami Beach markets in August, and announced intentions to open an office at the Hilton Bentley Miami/South Beach Hotel in 2024. [TheRealDeal]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.