South Florida by the numbers: Thankful in Miami Edition
“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
Full disclosure: This is not the first time we have covered this topic in any given November, but there is just so much to be thankful for at the moment. After a hot third quarter for local real estate, there is an air of optimism and excitement (not to mention the first hints of coolness since February), and for all that and so much more, we are grateful. So please pass the turkey and enjoy this Thanksgiving edition of South Florida by the numbers.
2: Category of Hurricane Dorian on Sept. 3, just before beginning a sharp northward turn that had it hugging Florida’s eastern coast — and sparing the state from major damage. [MiamiHerald]
7,104: Number of total Miami home sales in the third quarter of 2019, a year-over-year increase of 4.6 percent. Single-family sales dollar volume climbed by 13.4 percent to $2 billion. [TheRealDeal]
1.8 million: Square footage of new office product under construction in the greater Miami area, per brokerage firm JLL’s third quarter report — the highest level of construction activity in a decade. [GlobeSt]
$1,047.83: Amount the average Florida shopper plans to spend during the 2019 holiday season, an increase of 4 percent from last year’s $1,007.24. The Florida Retail Federation announced that retailers should see record sales this holiday season, with growth of between 3.8 percent to 4.2 percent over last year. [FloridaDaily]
11.8%: Annual increase in the number of Miami-Dade County luxury home sales, defined as sales of more than $1 million. Further up the coast, Palm Beach county’s luxury single-family home deals increased 13.9 percent year-over-year. [MansionGlobal]
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.