Douglas Elliman released its quarterly market overview this week, and the findings describe a Miami-area market fraught with extreme ups (i.e. 150-plus percent year-over-year increase in home price in Fisher Island) and extreme downs (65 percent sales decrease in Surfside).

Here are the report’s highlights:

Miami Coastal Mainland

In Miami proper, the overall market was a mixed bag throughout the first quarter of 2016, with price activity running counter to sales.

From Jan. to March, median price for all property types in the city jumped 7.4 percent year-over-year to a still relatively affordable $260,000. However, those increases occurred while sales in the area were in a near freefall, dropping 17.5 percent.

The overall market has benefitted from a 15.4 percent year-over-year increase in active listings, but the falling of days on market from 57 to 76 tells of a faltering demand that may not be able to keep up with prices or inventory.

More and more condos

The dynamics of Miami’s condo market mimicked the overall market, with median sales price climbing 4.8 percent year-over-year, while actual sales dropped nearly 20 percent over the same period. Listings also sold slower in in this year’s first quarter, with days on market rising from 53 to 79. The increase suggests a drop in demand, but could also be explained at least in part by the 17.9 percent year-over-year increase to inventory.

On the luxury side of Miami’s condo market, year-over-year prices dropped more than 13 percent alongside sales, which fell 18.8 percent. The tumbling prices seem to be a response to a 61.8 percent increase to luxury inventory – an inventory many speculate is already overbuilt.

Good news for single-family luxury

It was more of the same for the city’s single-family market, which was marred by a 15 percent year-over-year drop in sales, but boosted by a 14.5 percent jump in median sales price. Luxury single-family homes fared better than the overall market, with prices and sales rising in tandem – 10.1 percent and 15.2 percent, respectively. Luxury inventory also experienced gains, increasing 23.5 percent from the same time last year.