2016 APT South Beach Market Report
South of Fifth (SoFi) condos | Nov. 2016 issue
THE APTTEAM at Douglas Elliman-‐copyright 2016
Table of Contents Market Summary: 2016 Year-‐to-‐date sales chart Market Summary: 2016 AcEve chart Market Summary: 4 and 3 Beds sold Market Summary: 2 Beds sold Market Summary: 1 Bed sold Market Summary: 6, 5 & 4 beds AcEve Market Summary: 3 beds AcEve Market Summary: 2 beds AcEve Market Summary: 1 Bed AcEve Market Summary: 0 Bed AcEve Market Summary: Historic sales 2014-‐2016 Market Summary: Condo Snapshot About the Summary & disclaimer About THE APT TEAM Thank you
Pg. 4 Pg.5 Pg. 6 Pgs. 7-‐8 Pgs. 9-‐11 Pgs. 12 Pgs. 13-‐14 Pgs. 15-‐17 Pgs. 18-‐21 Pg. 22 Pg. 23-‐24 Pgs. 24 -‐27 Pgs.28 Pg. 29 Pg. 30
“addressing luxury living with APT-‐itude, not a9tude”
THE APTTEAM at Douglas Elliman-‐copyright 2016
South of Fifth (SoFi location)
THE APTTEAM at Douglas Elliman-‐copyright 2016
The purpose of this study is to help our customers understand the South of FiTh (SoFi) market dynamics, to get an insight into its performance and trends. FOR ELLIMAN’S 3Q 2016 MIAMI BEACH & BARRIER ISLANDS SALES QUARTERLY SURVEY OF MIAMI BEACH/BARRIER ISLAND SALES, CLICK HERE. We are pleased to announce that our APT South Beach Report: SoFi Edi@on/Nov. 2016 Issue has just been released. This report is a a compilaEon of recorded acEve lisEngs and sales for 2016 and historical from 2014 – 2016 for South of FiTh, or SoFi, the luxury condo market at the southernmost point of South Beach. Within these pages, you will learn more about list price and sold price average Eers, days on the market variances, condo inventory and percentage for sale, historicals and more. We hope you enjoy this informaEon. Thank you,
THE APTTEAM at DOUGLAS ELLIMAN Adriana Pinto-‐Torres (right) & Tracy Ferrer (leT)
“addressing luxury living with APT-‐itude, not a9tude”
THE APTTEAM at Douglas Elliman-‐copyright 2016
Contract data is based on closed sales to date for 2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Year-to-date sales (through 10/27/2016 )
Contract data is based on closed sales to date for 2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
4 and 3 beds
Contract data is based on closed sales to date for 2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Year-to-date sales (through 10/27/2016)
2 beds
Contract data is based on closed sales to date for 2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Year-to-date sales (through 10/27/2016)
2 beds
Contract data is based on closed sales to date for 2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Year-to-date sales (through 10/27/2016)
1 bed
Contract data is based on closed sales to date for 2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Year-to-date sales Market Summary- Year-to-date sales (through 10/27/2016)
1 bed
Contract data is based on closed sales to date for 2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Year-to-date sales (through 10/27/2016)
6, 5 & 4 beds
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
3 beds
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
3 beds
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
2 beds
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Market Summary- Summary- Active Active SoFi S1oFi 0/27/2016 10/27/2016
2 beds
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
2 beds
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
1 bed
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
1 bed
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
1 bed
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Market Summary- Summary- Active ASctive oFi 10/27/2016 SoFi
1 bed
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
0 beds
Contract data is based on acJve sales through 10/27/2016 recorded in the MLS. The analysis doesn’t include unrecorded sales and/or unrecorded closed developer sales.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016
Market Summary- Active SoFi 10/27/2016
Results calculated from 697 lisJngs.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2014-‐2016
Market Summary- 2014-2016
Results calculated from 697 lisJngs.
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2014-‐2016
Market Summary- 2014-2016
Apogee
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6months Number of sales over the last 3 months Avg. Eme to close over last 12 months
Con@nuum North
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
Cosmopolitan Towers
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
67 5 5 7% 0 0 0 194 days
213 31 27 12% 9 1 0 153 days
223 21 6 2% 19 7 4 126 days
Con@nuum South
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months
Cosmopolitan Courts
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
Icon South Beach
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
THE APTTEAM at Douglas Elliman-‐copyright 2016
MARKET SUMMARY 2016 MARKET SUMMARY 2011
Market Summary -Condo snapshot 308 47 26 8% 13 6 2 195 days
186 14 11 5% 12 6 3 172 days
223 21 6 2% 19 7 4 126 days
Murano at Portofino
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
Portofino
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
189 16 13 6% 5 3 0 445 days
221 27 19 8% 12 4 0 282 day
Yacht Club
Murano Grande
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
South Pointe Towers
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
361 88 30 8% 14 7 2 144 days
THE APTTEAM at Douglas Elliman-‐copyright 2016
257 27 28 10% 12 7 4 162 days
205 16 15 7% 13 6 3 113 days
MARKET SUMMARY 2016 MARKET SUMMARY 2011
Market Summary -Condo snapshot
Glass delivered in 2015
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
10 0 1 10% 3 3 0 N/A
Marea delivered in 2016
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
One Ocean delivered in 2016
Number of units Number of acEve lisEngs for rent Number of acEve lisEngs for sale Building inventory for sale Number of sales over the last 12 months Number of sales over the last 6 months Number of sales over the last 3 months Avg. Eme to close over last 12 months:
50 7 18 36% N/A N/A N/A N/A
THE APTTEAM at Douglas Elliman-‐copyright 2016
30 6 8 27% N/A N/A N/A N/a
MARKET SUMMARY 2016 MARKET SUMMARY 2011
Market Summary –New Kids on The Block, New construction
This APT Market SoFi study was compiled from data obtained from the South Florida MLS. It was made with informaEon of sales through October 27, 2016. It doesn’t tabulate or take into consideraEon any unrecorded developer sales, for sale by owner or pocket sales. The purpose of this study is to help our customers understand the SoFi market dynamics and get an insight into its market performance and trends. The informaEon contained herein is deemed accurate, but can’t be relied upon. We are not responsible or liable for input, calculaEon errors and/or errors of omissions and market changes. We always advice those who wish to uElize this data to corroborate such informaEon for themselves. Equal Housing Opportunity.
Broker par)cipa)on welcome. Oral representa)ons cannot be relied upon as correctly sta)ng the representa)ons of the developer. For correct representa)ons, make reference to the documents required by sec)on 718.503 Florida Statutes to be furnished by the Developer to Buyer or Lessee. Not an offer where prohibited by State Statutes. Plans, features and ameni)es subject to change without no)ce. All illustra)ons and plans are ar)st conceptual renderings are subject to change without no)ce. This adver)sement does not cons)tute an offer in the states of NY or NJ or any jurisdic)on where prior regula)ons or other qualifica)ons are required. EQUAL HOUSING OPPORTUNITY. © 2016. This is not an intenEon to solicit lisEng from other brokers. We cooperate with them fully. All materials presented herein is intended is intended for informaEon purposes only. While this informaEon is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without noEce.
THE APTTEAM at Douglas Elliman-‐copyright 2016
ABOUT THE SUMMARY & DISCLAIMER
About the summary & disclaimer About the market study
THE APT Team at Douglas Elliman has been sekng the standard in selling, markeEng & branding luxury real estate for over 12 years. Our philosophy and approach are simple” Addressing luxury living with APT-‐itude not aVtude”. Luxury is not a maler of price points, rather a pursuit of excellence in service. This core philosophy is what sets us apart and what is perhaps the most important asset for buyers and sellers in all of South of Florida. Our success comes with pursuing every real estate transacEon with our customers and their intermediaries in mind. Their success is ours.
THE APT Team at Douglas Elliman Adriana Pinto-‐Torres & Tracy Ferrer Directors of Luxury Sales 786.493.1388 | 786.214.0099 Adriana.Pintotorres@elliman.com | Tracy.Ferrer@elliman.com www.theapleam.elliman.com www.luxurysouthbeachrealty.com 1000 South Pointe Dr., Suite 100 Miami Beach | FL 33139
THE APTTEAM at Douglas Elliman-‐copyright 2016
ABPOUT US
About THE About usA PT TEAM
ABPOUT US
About us
Thank you
THE APT Team at Douglas Elliman
THE APTTEAM at Douglas Elliman-‐copyright 2016