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MIAMI'S DEFINITIVE $1M+ REAL ESTATE MARKET INDEX

THIRD

QUARTER 2018 EDITION DEVOSREPORT.COM .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

CONTENTS $1M+ Condomininiums

$1M+ Single Family Homes

p4. Aventura

p23. Aventura

p5. Bal Harbour/Surfside

p24. Bal Harbour/Surfside

p6. Bay Harbor Islands

p25. Bay Harbor Islands

p7. Brickell

p26. Brickell

p8. Coconut Grove

p27. Coconut Grove

p9. Coral Gables

p28. Coral Gables

p10. Downtown/Edgewater/Midtown

p29. Golden Beach

p11. Fisher Island

p30. Key Biscayne

p12. Key Biscayne

p31. Miami Beach

p13. Miami Beach

p32. Sunny Isles Beach

p14. Sunny Isles Beach

p33. Upper East Side

New Construction Showcase (A-Z) Highlighting some of the most anticipated New Construction projects in Miami. p16. Estates At Acqualina

p19. Residences By Armani Casa

p17. Jade Signature

p20. The Ritz-Carlton Residences, SIB

p18. MUSE Residences

p21. Turnberry Ocean Club

DEVOSREPORT | P2 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

THIS QUARTER IN A NUTSHELL In creating this report, my goal is always to provide a clear view of each of the unique geographical submarkets within Miami's luxury market, highlighting areas of opportunity for buyers in some, and for sellers in others. But first, the big picture is one of stability. Prices are showing a sustainable pattern of moderate increases. The Average Sales Price Per SF for condos over $1M increased around 4% over the 2nd Quarter of last year to $943/SF; And for homes that number increased 5%. The Average Days On Market for both Condos and Homes have decreased slightly from the same time frame last year (selling 2% and 8% more quickly, respectively). The Number of Homes that sold for $1M+ in Q2 of 2018, is showing a small jump over Q2 of last year to 318 homes (up 4%). But at the risk of burying the lead, the big headline to many may be condominiums: 30% (!) More condominiums have sold for $1M or more in Q2 of 2018 than in the same time frame last year (and this doesn’t take into account the new-construction condo developments which are, overall, reportedly over 80% sold as of June 1). That’s pretty remarkable. I invite you to explore your Miami “neck of the woods” in this report, and to connect with me directly on (+1) 305-432-1479 via phone, text or WhatsApp.

ABOUT THE DE VOS REPORT

SEND ME THIS REPORT AS A PDF

This report was compiled by Arno De Vos, P.A. and is based upon Closed Sales of properties as recorded in the Southeast Florida MLS; provided by the Miami Association of Realtors. Data includes properties which sold for US$1,000,000 or greater with varying floor plans, views and elevations. All material presented herein is intended for informational purposes only. All property information, including but not limited to square footage, room count, number of bedrooms in property listings should be verified by your own attorney, architect or zoning expert. While this information is believed to be accurate and correct, it is presented subject to errors, omissions, changes or withdrawal without notice. If your property is currently listed with another real estate broker, please disregard this offer. It is not our intention to solicit the offerings of other real estate brokers. We cooperate with them fully. Equal Housing Opportunity.

ARNO DE VOS ONE Sotheby's International Realty arno@arnodevos.com

305.432.1479

DEVOSREPORT | P3 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

AVENTURA

Q2

Q2

2017

2018

18

16

# OF SALES

-11%

AVERAGE PRICE PER SQ FT

5%

$433

$455

AVERAGE DAYS ON MARKET

22%

187

227

% NEGOTIATED OFF LIST PRICE

-24%

11.5%

8.7%

View Current Aventura $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P4 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

BAL HARBOUR / SURFSIDE

Q2

Q2

2017

2018

# OF SALES

93%

14

27

AVERAGE PRICE PER SQ FT

23%

$969

$1,188

AVERAGE DAYS ON MARKET

-35%

290

188

% NEGOTIATED OFF LIST PRICE

-7%

11.0%

10.3%

View Current Bal Harbour/Surfside $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P5 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

BAY HARBOR ISLANDS

Q2

Q2

2017

2018

# OF SALES

-67%

3

1

AVERAGE PRICE PER SQ FT

-47%

$640

$341

AVERAGE DAYS ON MARKET

63%

220

360

% NEGOTIATED OFF LIST PRICE

94%

4.7%

9.1%

View Current Bay Harbor Islands $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P6 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

BRICKELL

Q2

Q2

2017

2018

# OF SALES

45%

11

16

AVERAGE PRICE PER SQ FT

-3%

$708

$688

AVERAGE DAYS ON MARKET

60%

135

216

% NEGOTIATED OFF LIST PRICE

31%

7.6%

10.1%

View Current Brickell $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P7 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

COCONUT GROVE

Q2

Q2

2017

2018

# OF SALES

73%

11

19

AVERAGE PRICE PER SQ FT

3%

$685

$705

AVERAGE DAYS ON MARKET

-2%

119

117

% NEGOTIATED OFF LIST PRICE

10%

7.7%

8.5%

View Current Coconut Grove $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P8 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

CORAL GABLES

Q2

Q2

2017

2018

# OF SALES

63%

8

13

AVERAGE PRICE PER SQ FT

13%

$440

$496

AVERAGE DAYS ON MARKET

-42%

306

176

% NEGOTIATED OFF LIST PRICE

-7%

7.6%

7.1%

View Current Coral Gables $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P9 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

DOWNTOWN/EDGEWATER/ MIDTOWN

Q2

Q2

2017

2018

# OF SALES

25%

8

10

AVERAGE PRICE PER SQ FT

24%

$528

$653

AVERAGE DAYS ON MARKET

60%

96

154

% NEGOTIATED OFF LIST PRICE

5%

9.2%

9.7%

Current Downtown/Edgewater/Midtown $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P10 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

FISHER ISLAND

Q2

Q2

2017

2018

# OF SALES

100%

6

12

AVERAGE PRICE PER SQ FT

-22%

$1,564

$1,221

AVERAGE DAYS ON MARKET

57%

194

304

% NEGOTIATED OFF LIST PRICE

-11%

15.8%

14.1%

View Current Fisher Island $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P11 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

KEY BISCAYNE

Q2

Q2

2017

2018

# OF SALES

90%

20

38

AVERAGE PRICE PER SQ FT

23%

$725

$895

AVERAGE DAYS ON MARKET

-17%

203

168

% NEGOTIATED OFF LIST PRICE

23%

7.8%

9.5%

View Current Key Biscayne $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P12 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

MIAMI BEACH

Q2

Q2

2017

2018

# OF SALES

11%

71

79

AVERAGE PRICE PER SQ FT

2%

$1,231

$1,253

AVERAGE DAYS ON MARKET

0%

167

167

% NEGOTIATED OFF LIST PRICE

-6%

10.0%

9.4%

View Current Miami Beach $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P13 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

SUNNY ISLES BEACH

Q2

Q2

2017

2018

# OF SALES

9%

32

35

AVERAGE PRICE PER SQ FT

-9%

$837

$762

AVERAGE DAYS ON MARKET

-6%

183

173

% NEGOTIATED OFF LIST PRICE

23%

9.2%

11.2%

View Current Sunny Isles Beach $1M+ Condominium Listings - Click HERE

DEVOSREPORT | P14 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

DEVOSREPORT | P15 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

ESTATES AT ACQUALINA Total Number of Residences:

154 (South Tower only)

Total Floors:

51

Floor Plan Size Range:

2,910 SF - 6,500 SF

Offered From:

$4.2M

Developer:

GSF Acquisition, LLC, an affiliate of Eddie, Jules & Stephanie Trump

Estimated Completion:

End of 2020

Request Floor Plans & Availability for Estates At Acqualina: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P16 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

JADE SIGNATURE Total Number of Residences:

192

Total Floors:

57

Floor Plan Size Range:

1,378 SF - 11,661 SF

Offered From:

$2.00M

Developer:

Fortune International Group

Completion:

Completed

Request Floor Plans & Availability for Jade Signature: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P17 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

MUSE RESIDENCES Total Number of Residences:

68

Total Floors:

49 (with 12-Foot Ceilings)

Floor Plan Size Range:

3,635 SF

Offered From:

$4.3M

Developer:

Property Markets Group (PMG) & S2 Development

Estimated Completion:

Summer 2018

Request Floor Plans & Availability for MUSE Residences: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P18 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

RESIDENCES BY ARMANI CASA Total Number of Residences:

308

Total Floors:

56

Floor Plan Size Range:

1,326 SF - 4,150 SF

Offered From:

$3.05M

Developer:

Dezer Development and The Related Group

Estimated Completion:

2018

Request Availability for Residences By Armani Casa: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P19 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

RITZ-CARLTON RESIDENCES SUNNY ISLES BEACH Total Number of Residences:

212

Total Floors:

50

Floor Plan Size Range:

1,750 SF - 3,640 SF

Offered From:

$2.967M

Developer:

Fortune International Group & Chateau Group

Estimated Completion:

2019

Request Availability for The Ritz-Carlton Residences: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P20 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

TURNBERRY OCEAN CLUB RESIDENCES Total Number of Residences:

154

Total Floors:

54

Floor Plan Size Range:

2,900 SF - 10,750 SF

Offered From:

$3.9M

Developer:

Turnberry Associates

Estimated Completion:

End of 2019

Request Availability for Turnberry Ocean Club Residences: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P21 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

DEVOSREPORT | P22 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

AVENTURA

Q2

Q2

2017

2018

# OF SALES

n/a

0

5

AVERAGE PRICE PER SQ FT

n/a

n/a

$475

AVERAGE DAYS ON MARKET

n/a

n/a

96

% NEGOTIATED OFF LIST PRICE

n/a

n/a

5.0%

View Current Aventura $1M+ Home Listings - Click HERE

DEVOSREPORT | P23 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

BAL HARBOUR / SURFSIDE

Q2

Q2

2017

2018

4

4

# OF SALES

0%

AVERAGE PRICE PER SQ FT

-23%

$844

$654

AVERAGE DAYS ON MARKET

151%

120

300

% NEGOTIATED OFF LIST PRICE

-34%

11.1%

7.4%

View Current Bal Harbour/Surfside $1M+ Home Listings - Click HERE

DEVOSREPORT | P24 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

BAY HARBOR ISLANDS

Q2

Q2

2017

2018

# OF SALES

-50%

2

1

AVERAGE PRICE PER SQ FT

48%

$480

$711

AVERAGE DAYS ON MARKET

344%

55

244

% NEGOTIATED OFF LIST PRICE

-48%

14.4%

7.5%

View Current Bay Harbor Islands $1M+ Home Listings - Click HERE

DEVOSREPORT | P25 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

BRICKELL

Q2

Q2

2017

2018

# OF SALES

-33%

3

2

AVERAGE PRICE PER SQ FT

52%

$314

$478

AVERAGE DAYS ON MARKET

-95%

250

13

% NEGOTIATED OFF LIST PRICE

20%

7.2%

8.6%

View Current Brickell $1M+ Home Listings - Click HERE

DEVOSREPORT | P26 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

COCONUT GROVE

Q2

Q2

2017

2018

# OF SALES

11%

36

40

AVERAGE PRICE PER SQ FT

2%

$522

$532

AVERAGE DAYS ON MARKET

3%

132

136

% NEGOTIATED OFF LIST PRICE

0%

7.5%

7.5%

View Current Coconut Grove $1M+ Home Listings - Click HERE

DEVOSREPORT | P27 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

CORAL GABLES

Q2

Q2

2017

2018

# OF SALES

19%

68

81

AVERAGE PRICE PER SQ FT

6%

$487

$514

AVERAGE DAYS ON MARKET

-11%

138

122

% NEGOTIATED OFF LIST PRICE

9%

6.8%

7.4%

View Current Coral Gables $1M+ Home Listings - Click HERE

DEVOSREPORT | P28 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

GOLDEN BEACH

Q2

Q2

2017

2018

# OF SALES

n/a

2

0

AVERAGE PRICE PER SQ FT

n/a

$866

n/a

AVERAGE DAYS ON MARKET

n/a

243

n/a

% NEGOTIATED OFF LIST PRICE

n/a

10.4%

n/a

View Current Golden Beach $1M+ Home Listings - Click HERE

DEVOSREPORT | P29 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

KEY BISCAYNE

Q2

Q2

2017

2018

# OF SALES

91%

11

21

AVERAGE PRICE PER SQ FT

-18%

$1,026

$841

AVERAGE DAYS ON MARKET

41%

209

294

% NEGOTIATED OFF LIST PRICE

42%

6.7%

9.5%

View Current Key Biscayne $1M+ Home Listings - Click HERE

DEVOSREPORT | P30 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

MIAMI BEACH

Q2

Q2

2017

2018

# OF SALES

-5%

57

54

AVERAGE PRICE PER SQ FT

2%

$806

$822

AVERAGE DAYS ON MARKET

-18%

198

163

% NEGOTIATED OFF LIST PRICE

-9%

9.1%

8.3%

View Current Miami Beach $1M+ Home Listings - Click HERE

DEVOSREPORT | P31 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

SUNNY ISLES BEACH

Q2

Q2

2017

2018

# OF SALES

50%

2

3

AVERAGE PRICE PER SQ FT

-13%

$388

$336

AVERAGE DAYS ON MARKET

-7%

222

206

% NEGOTIATED OFF LIST PRICE

11%

10.4%

11.6%

View Current Sunny Isles Beach $1M+ Home Listings - Click HERE

DEVOSREPORT | P32 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

UPPER EAST SIDE

Q2

Q2

2017

2018

4

9

# OF SALES

125%

AVERAGE PRICE PER SQ FT

-6%

$508

$478

AVERAGE DAYS ON MARKET

-16%

127

106

% NEGOTIATED OFF LIST PRICE

-13%

8.7%

7.6%

View Current Upper East Side $1M+ Home Listings - Click HERE

DEVOSREPORT | P33 .


T H I R D Q U A R T E R 2 0 1 8 E D I T I O N

DOWNLOAD & SUBSCRIBE RECEIVE A PDF FILE OF THIS REPORT TO DOWNLOAD/PRINT: SEND ME THE PDF RECEIVE FUTURE EDITIONS OF THE DEVOS REPORT: SUBSCRIBE ABOUT THE DE VOS REPORT This report was compiled by Arno De Vos, P.A. and is based upon Closed Sales of properties as recorded in the Southeast Florida MLS; provided by the Miami Association of Realtors. Data includes properties which sold for US$1,000,000 or greater with varying floor plans, views and elevations. All material presented herein is intended for informational purposes only. All property information, including but not limited to square footage, room count, number of bedrooms in property listings should be verified by your own attorney, architect or zoning expert. While this information is believed to be accurate and correct, it is presented subject to errors, omissions, changes or withdrawal without notice. If your property is currently listed with another real estate broker, please disregard this offer. It is not our intention to solicit the offerings of other real estate brokers. We cooperate with them fully. Equal Housing Opportunity.

ARNO DE VOS ONE Sotheby's International Realty arno@arnodevos.com

305.432.1479

DEVOSREPORT | P34 .

DeVos Report - Miami | 3rd Quarter 2018 Edition  

Arno De Vos shares his visual review of how the $1M+ real estate market in Miami is performing.

DeVos Report - Miami | 3rd Quarter 2018 Edition  

Arno De Vos shares his visual review of how the $1M+ real estate market in Miami is performing.

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