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SO U TH F LO R I DA M A R KE T REP O RT

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1


M I A M I

S O U T H

C O C O N U T G R O V E / C O R A L G A B L E S / P I N E C R E S T / P A L M E T T O B AY Coral Gables, known as the “City Beautiful�, is home to historical architecture, museums, art galleries and world-class dining. It continues to be one of the finest places to live in Miami with exclusive communities such as Coco Plum and Gables Estates. With excellent schools, high-end shopping in the Village of Merrick Park and fine dining along the ever-popular Miracle Mile, Coral Gables and its surrounding neighborhoods provide the ideal residence for families and young professionals alike.


%

COCONUT GROVE

CHANGE W: waterfront N: non-waterfront

Average $/SF

W: -23% N: +31% in 2013 compared to 2010-2012 avg.

# Transactions

A LL SI NG LE FA M I LY H O M E S 250

$700 $693

$480

compared to 2010-2012 avg.

$400

$335 100

$266

$259

$244

$300

50

$200 5

38

6

131

7

186

2

215

$100

0

2010

Avg. Sale Price

$500

$440 150

W: -67% N: +82% in 2013

$600

$545

200

2011

waterfront properties

# transactions

W: +71% N: +30%

Average Sales Price Waterfront Non-Waterfront

in 2013

2012

2010 $5,665,000 $676,577

2013

non-waterfront properties

2011 $2,870,000 $685,835

2012 $3,176,571 $732,484

average $/SF

2013 $6,687,500 $908,122

compared to 2010-2012 avg.

A LL CO ND O S Average $/SF

W: +10% N: +20%

120

$550

100

$443

in 2013 compared to 2010-2012 avg.

$418

$409 80

$450

$380

60

W: +66% N: +318%

40

in 2013

20

compared to 2010-2012 avg.

0

$243 $223

14

2

61

2010

Avg. Sale Price

W: +23% N: -13% in 2013 compared to 2010-2012 avg.

$350

$304

$296

# Transactions

# transactions

$250

8

115

2011

waterfront properties

Average Sales Price Waterfront Non-Waterfront

2010 $661,893 $1,047,500

28

105

2012

53

non-waterfront properties: $500K+

2011 $739,211 $645,313

$150

2013

2012 $788,779 $734,813

average $/SF

2013 $816,580 $700,393 13


%

CORAL GABLES

CHANGE W: waterfront N: non-waterfront

AL L S I N G L E FA M I LY H O M E S 600

$650

$598

500

$529

$576

$600 $550

$507

$500

400

$450

Average $/SF

W: +6% N: +7% in 2013 compared to 2010-2012 avg.

$400

300 200

$281

$264

$350

$305 $267

$300 $250

100

$200 48

0

295

45

2010

281

2011

Average Sales Price Waterfront Non-Waterfront

486

76

2012

waterfront properties

# transactions

84

2010 $2,923,495 $708,533

557

$150

# Transactions

W: +29% N: +60% in 2013 compared to 2010-2012 avg.

2013

non-waterfront properties

2011 $2,744,387 $828,579

2012 $3,387,174 $715,229

average $/SF

Avg. Sale Price

W: +3% N: +11%

2013 $3,107,759 $830,542

in 2013 compared to 2010-2012 avg.

AL L CO ND O S 40

$550

35

$481

$528

$500

$440

30

$450

25

$382

$400

W: +7% N: +24% in 2013 compared to 2010-2012 avg.

$354

20 $307

15

$290

10

$257

5 9

0

21

2010

# transactions

5

12

2011

waterfront properties: $1M+

Average Sales Price Waterfront Non-Waterfront 14

Average $/SF

2010 $2,184,444 $673,810

18

25

16

2012

35

# Transactions

$300

W: +50% N: +81%

$250

in 2013

$200

compared to 2010-2012 avg.

2013

non-waterfront properties: $500K+

2011 $1,223,000 $738,500

$350

2012 $1,495,444 $737,344

average $/SF

2013 $1,664,531 $731,671

Avg. Sale Price

W: +2% N: +2% in 2013 compared to 2010-2012 avg.


%

CORAL GABLES

CHANGE W: waterfront N: non-waterfront

Average $/SF

W: +1% N: +15%

COCO P LU M : SI NG LE FA M I LY H O M E S 18

$600 $594

16

in 2013

14

compared to 2010-2012 avg.

12

$547

$529

$550

$507

$500

10

# Transactions

8

W: +91% N: +13%

6

in 2013 compared to 2010-2012 avg.

$382

$368

$400 $350

$316 4

$300

2 4

0

4

7

2010

Avg. Sale Price

$450

$407

2011

waterfront properties

# transactions

W: -8% N: +24%

Average Sales Price Waterfront Non-Waterfront

in 2013

14

2010 $3,318,750 $2,247,188

11

6

14

2012

9

non-waterfront properties

2011 $4,303,571 $1,908,929

$250

2013

2012 $3,243,145 $1,583,333

average $/SF

2013 $3,336,173 $2,368,588

compared to 2010-2012 avg.

G AB L E S E STATE S: SI NG LE FA M I LY H O M E S Average $/SF

12

W: +6%

11

in 2013

10

compared to 2010-2012 avg.

$1000 $935

$928

$988

$950

9

$900

8

$850

7

$800

6

# Transactions

5

W: +40%

4

in 2013

3

compared to 2010-2012 avg.

$750 $700

2

$694

1 0

Avg. Sale Price

W: +11% in 2013

$650

1

3

11

7

2010

2011

2012

2013

all properties

# transactions

Average Sales Price All Properties

2010 $4,150,000

2011 $5,243,633

$600

average $/SF

2012 $9,888,182

2013 $7,146,000

compared to 2010-2012 avg.

15


CO R AL

%

G AB L E S

CHANGE W: waterfront N: non-waterfront

SN AP PE R CR E E K L AKE S: SI NG LE FA M I LY H O M E S 5

$500 $471 $496

4

$460 $426

3

$420

$438 $374

$380

2

$340

1 $345 1

0

4

2

2011

# transactions

4

1

2012

waterfront properties

Average Sales Price Waterfront Non-Waterfront

4

W: -19% N: +20% in 2013 compared to 2011-2012 avg.

# Transactions

W: -33% N: 0% in 2013 compared to 2011-2012 avg.

2013

non-waterfront properties

2011 $8,000,000 $2,986,563

$300

Average $/SF

2012 $3,100,000 $2,456,250

average $/SF

Avg. Sale Price

W: -24% N: +6%

2013 $4,200,000 $2,896,215

in 2013 compared to 2011-2012 avg.

O LD CUTL E R COMMUN I T I E S: SI NG LE FA M I LY H O M E S 8

$700

7

$690 $673

6

$661

$670

5

in 2013 compared to 2010-2012 avg.

$650

3 2

$640

# Transactions

$630

W: +50%

$620

1

# transactions

W: +2%

$660

4

0

$680

Average $/SF

$610 4

6

2012

2013

waterfront properties

Average Sales Price Waterfront

2012 $3,176,250

compared to 2010-2012 avg.

$600

average $/SF

2013 $4,550,000

in 2013

Avg. Sale Price

W: +43% in 2013 compared to 2010-2012 avg.

16


%

CORA L

CHANGE W: waterfront N: non-waterfront

Average $/SF

N: -9%

PON CE DAVI S, H I G H P I NE S: SI NG LE FA M I LY H OMES 50

$350 $336

in 2013 compared to 2010-2012 avg.

G AB L E S

40

$336

$325

$325 30

# Transactions

N: +89% in 2013 compared to 2010-2012 avg.

20

$300 $302 10

0

Avg. Sale Price

7

26

43

48

2010

2011

2012

2013

waterfront properties

# transactions

N: +34%

Average Sales Price Non-Waterfront

in 2013 compared to 2010-2012 avg.

$275

2010 $1,147,386

average $/SF

2011 $1,243,900

2012 $1,270,581

2013 $1,631,271

D E E R I NG B AY: SI NG LE FA M I LY H O M E S Average $/SF

15

W: +7% N: +52%

$298 $341

in 2013 compared to 2010-2012 avg.

$300

10

$285

$200

$221

# Transactions

W: +33% N: +80%

$400

$345

$340

$332

5 $100

in 2013 compared to 2010-2012 avg.

4

0

0

2010

Avg. Sale Price

W: -7% N: +74% in 2013 compared to 2010-2012 avg.

# transactions

1

1

2011

waterfront properties

Average Sales Price Waterfront Non-Waterfront

2010 $925,375 NA

4

18

3

8

2012

non-waterfront properties

2011 $1,400,00 $607,000

$0

2013

2012 $1,098,846 $988,688

average $/SF

2013 $1,058,938 $923,333 17


PA L M E T TO B AY & P I N EC R E S T

% CHANGE W: waterfront N: non-waterfront

PAL M E T TO B AY: S I N GLE FA M I LY H O M E S 350

$200

Average $/SF

N: +23%

300

in 2013 $175

250 $159

compared to 2010-2012 avg.

200 $150

$139

150

# Transactions $125

$125

100

$125

50 0

55

210

342

291

2010

2011

2012

2013

in 2013 compared to 2010-2012 avg.

$100

non-waterfront properties

# transactions

N: +44%

average $/SF Avg. Sale Price

Average Sales Price Non-Waterfront

2010 $411,292

2011 $366,096

2012 $380,836

N: +19%

2013 $457,814

in 2013 compared to 2010-2012 avg.

PI N ECR E S T: S I N G L E FA M I LY H O M E S $466

250

$500

$364

200

$400

$270

150

100

$243

$240

$245

$300

$258

$200

$230

$100

50 21 3

0

6

42

2010

# transactions

18

181

2011

waterfront properties

Average Sales Price Waterfront Non-Waterfront

16

2010 $1,531,047 $1,140,275

204

226

2012

W: -33% N: +9% in 2013 compared to 2010-2012 avg.

# Transactions

W: +60% N: +59% in 2013 compared to 2010-2012 avg.

2013

non-waterfront properties

2011 $1,944,167 $1,005,875

$0

Average $/SF

2012 $1,416,720 $965,579

2013 $768,959 $1,131,017

average $/SF

Avg. Sale Price

W: -53% N: +9% in 2013 compared to 2010-2012 avg.


19


D O W N T O W N KEY BISCAYNE / BRICKELL / DOWNTOWN / MIDTOWN Key Biscayne, the luxurious residential island located on Biscayne Bay, is known for its beautiful views, beaches and quaint lifestyle with an international flair. The number of transactions for condos and single families in Key Biscayne dropped in 2013 compared to the years prior. However, the average price per square foot increased across the board for all properties from 2012. Greater Downtown Miami has become the place to see and be seen due to its recent growth. New developments and iconic cultural centers include the Perez Art Museum in Downtown Miami and Brickell City Centre, which will offer 5.4 million square feet of high end commercial, residential and hotel space in the center of the Financial District. These areas will continue to thrive tremendously with the introduction of additional fine dining, entertainment and luxury living with exclusive condominiums such as One Thousand Museum designed by renowned architect Zaha Hadid. 20


%

KE Y B I S C AY N E

CHANGE W: waterfront N: non-waterfront

A LL SI NG LE FA M I LY H O M E S

Average $/SF

W: -15% N: +26% in 2013 compared to 2010-2012 avg.

# Transactions

W: -4% N: +40% in 2013 compared to 2010-2012 avg.

60

$2,000 $1,901

50

$1,500 40 $1,265

30

$1,000

20

10

$490 4

0

22

5

W: +4% N: +37% compared to 2010-2012 avg.

16

58

8

2012

waterfront properties

Average Sales Price Waterfront Non-Waterfront

in 2013

38

2011

# transactions

$689

$580

$573

2010

Avg. Sale Price

$1,239

$1,214

2010 $6,523,875 $1,428,477

$500

55

$0

2013

non-waterfront properties

2011 $6,160,000 $1,668,184

2012 $6,998,625 $1,754,948

average $/SF

2013 $6,845,000 $2,211,873

A LL CO ND O S Average $/SF

250

W: +23% N: +45%

200

$570

150

# Transactions

100

W: +42% N: +76%

50

$600

$545

in 2013 compared to 2010-2012 avg.

$700

$645

$458

$500

$445 $375

$400

$286

$262

$300

in 2013 compared to 2010-2012 avg.

9

27

0

88

2010

# transactions

32

2011

waterfront properties

217

73

157

2012

67

$200

2013

non-waterfront properties

average $/SF

Avg. Sale Price

W: +8% N: +54% in 2013 compared to 2010-2012 avg.

Average Sales Price Waterfront Non-Waterfront

2010 $913,041 $278,778

2011 $1,120,685 $330,922

2012 $1,105,673 $550,395

2013 $1,125,631 $595,686 21


%

BRICKELL

CHANGE W: waterfront N: non-waterfront

AL L S I N G L E FA M I LY H O M E S 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 0

$400 $351

Average $/SF

N: +87% in 2013

$300

compared to 2010-2012 avg.

$251

# Transactions $200

N: +500% in 2013

$138

$173

compared to 2010-2012 avg.

1

1

4

12

2010

2011

2012

2013

$100

non-waterfront properties

# transactions

average $/SF

Avg. Sale Price

N: +3% Average Sales Price Non-Waterfront

2010 $420,000

2011 $2,250,000

2012 $490,500

2013 $1,087,908

in 2013 compared to 2010-2012 avg.

AL L CO ND O S Average $/SF

$382

800 $336

$336

700

$400 $337

600

$318

$310

$300

$250

$200

$198

300 200

$100

# Transactions

W: +83% N: +70% in 2013

100

21 31

3 94

0

6 421

2010

# transactions

202

2011

waterfront properties

Average Sales Price Waterfront Non-Waterfront 22

in 2013 compared to 2010-2012 avg.

500 400

W: -9% N: +33%

2010 $501,673 $207,823

756

379

2012

16 776

347

2013

non-waterfront properties

2011 $451,628 $244,879

$0

compared to 2010-2012 avg.

2012 $502,870 $291,043

2013 $590,115 $364,999

average $/SF

Avg. Sale Price

W: +22% N: +47% in 2013 compared to 2010-2012 avg.


% CHANGE

BRICKELL KEY & DOWNTOWN

W: waterfront N: non-waterfront

B R I C KE LL KE Y: CO ND O S

Average $/SF

W: +74% N: +68% in 2013 compared to 2010-2012 avg.

$479

200

160

in 2013 compared to 2010-2012 avg.

120

$307 $260

$261

$248

$240

$300

80 $247

$200

40

16

0

1

in 2013

2010 $335,781 $410,000

12

169

2012

waterfront properties

Average Sales Price Waterfront Non-Waterfront

5

89

2011

# transactions

W: +93% N: +51%

7

52

2010

Avg. Sale Price

$400

$412

# Transactions

W: +223% N: +177%

$500

$100

2013

non-waterfront properties

2011 $303,187 $233,143

2012 $343,809 $239,800

average $/SF

2013 $631,537 $445,773

compared to 2010-2012 avg.

D OWNTOWN: CO ND O S Average $/SF

W: -35% N: +45% in 2013 compared to 2010-2012 avg.

700

$400 $316

600 $274

500

$304

$273

$300

400 $240

# Transactions

200

in 2013

100

$100 21 27

3 49

0

6 302

2010

Avg. Sale Price

W: +39% N: +59% in 2013 compared to 2010-2012 avg.

$188

$180

W: +101% N: +109% compared to 2010-2012 avg.

$200

$207

300

# transactions

173

2011

581

2012

waterfront properties

Average Sales Price Waterfront Non-Waterfront

2010 $344,980 $186,296

16 624

316

359

non-waterfront properties

2011 $328,559 $173,154

$0

2013

2012 $369,304 $219,426

average $/SF

2013 $482,103 $306,225 23


%

MIDTOWN

CHANGE W: waterfront N: non-waterfront

MIDTOWN / B I S CAY N E CO R R I D O R: A LL CO ND O S 350

$400

$348

W: +68% N: +86%

300 250 200

$300

$332

$257

Average $/SF

in 2013 compared to 2010-2012 avg.

$189

$179

$200

$229

150

# Transactions

100

$158

$149

$100

50

21

18

15

6 137

0 2010

257

75

2011

2012

waterfront properties

# transactions

in 2013

16 305

153

W: +122% N: +148%

201

$0

2013

non-waterfront properties

compared to 2010-2012 avg.

average $/SF Avg. Sale Price

Average Sales Price Waterfront Non-Waterfront

2010 $241,168 $141,500

2011 $201,782 $161,545

2012 $275,270 $222,308

W: +59% N: +80%

2013 $381,154 $315,697

in 2013 compared to 2010-2012 avg.

?? ? 350 $348

$400

W: -33% N: +9%

300 250

$332

$257

200

Average $/SF

$300

in 2013 compared to 2010-2012 avg.

$189

$179

$200

$229

150

# Transactions

100

$158

$149

$100

50

21

18

15

6 137

0 2010

# transactions

75

2011

waterfront properties

257

in 2013

16 305

153

2012

W: +60% N: +59%

201

$0

2013

non-waterfront properties

compared to 2010-2012 avg.

average $/SF Avg. Sale Price

Average Sales Price Waterfront Non-Waterfront 24

2010 $1,531,047 $1,140,275

2011 $1,944,167 $1,005,875

2012 $1,416,720 $965,579

2013 $768,959 $1,131,017

W: -53% N: +9% in 2013 compared to 2010-2012 avg.


Wynwood Walls artwork by Retna

25


M I A M I

B E AC H

SOUTH BEACH / MID BEACH / NORTH BEACH / THE ISLANDS Miami Beach shines brightly on a global scale. In our firm’s markets from single-family homes to condominiums, the average $/sf has climbed more than 20%, as buyers of tropical retreats pay top dollar for a piece of the American Riviera. Last year’s resurgence in new residential developments has resulted in a real estate market that’s hotter than ever. This next wave vastly expands on “starchitecture” that projects such as Apogee and St. Regis Bal Harbour reintroduced to the island, which hasn’t seen this level of creativity and attention to detail since its Art Deco and Midcentury Modern heyday. These designers’ fresh, innovative concepts take luxury to an unprecedented height that factors in culture and lifestyle to high-end amenities, décor and location. 26


%

MIAMI BEACH

CHANGE W: waterfront N: non-waterfront

Average $/SF

W: +22% N: +38% in 2013 compared to 2010-2012 avg.

# Transactions

W: +48% N: +64% in 2013 compared to 2010-2012 avg.

A LL SI NG LE FA M I LY H O M E S $839

250

$800 $700

$609

$600 150

$500

$430 $339

100

$400

$317

$278

$300 $200

50 21 64

0

6 66

116

2010

Avg. Sale Price

$735

$722

200

$900

2011

Average Sales Price Waterfront Non-Waterfront

in 2013

179

116

2012

waterfront properties

# transactions

W: +12% N: +44%

111

2010 $2,936,434 $773,183

$100

16 121

222

$0

2013

non-waterfront properties

2011 $3,610,224 $953,575

2012 $3,988,183 $844,971

average $/SF

2013 $3,945,551 $1,230,851

compared to 2010-2012 avg.

A LL CO ND O S Average $/SF

W: +11% N: -1% in 2013 compared to 2010-2012 avg.

2000

$700 $593

1800

$584

$600

$523

1600 $456

$500

1400

$400

1200 $297

# Transactions

1000

W: +46% N: +67%

800

in 2013

400

compared to 2010-2012 avg.

200

$256

$252

$223

$300 $200

600 $100

21 1022

6 1000

450

2010

# transactions

497

2011

waterfront properties

1845

16 1883

984

2012

1072

$0

2013

non-waterfront properties

average $/SF

Avg. Sale Price

W: +19% N: +26% in 2013 compared to 2010-2012 avg.

Average Sales Price Waterfront Non-Waterfront

2010 $557,057 $165,290

2011 $635,495 $205,185

2012 $707,954 $239,634

2013 $752,708 $255,967 27


%

SOUTH BEACH

CHANGE W: waterfront N: non-waterfront

AL L CO ND O S 600

$1000 $871

$851

$900 $766

500

$800

$631

400

$700 $600

Average $/SF

W: -2% N: -16% in 2013 compared to 2010-2012 avg.

$500

300 $333

200

$250

$227

$228

$400

# Transactions

$300

W: +32% N: +95%

$200

100 83

0

21

27

6 325

2010

267

571

2011

2012

waterfront properties

# transactions

544

$100

16 430

545

$0

2013

non-waterfront properties

in 2013 compared to 2010-2012 avg.

average $/SF Avg. Sale Price

Average Sales Price Waterfront Non-Waterfront

2010 $737,231 $144,037

2011 $923,850 $181,872

2012 $911,687 $242,528

W: -14% N: +24%

2013 $734,248 $234,505

in 2013 compared to 2010-2012 avg.

S OUT H OF FI F TH: CO ND O S 300

$1400 $1103

250 $881

W: +65% $1200 $1000

200

Average $/SF

in 2013 compared to 2010-2012 avg.

$800 150

$576

$553

100

$600

# Transactions

$400

W: +136% in 2013

50

$200 15

0

2010

75

164

200

2011

2012

2013

waterfront properties

# transactions

compared to 2010-2012 avg.

$0

average $/SF Avg. Sale Price

Average Sales Price Waterfront

28

2010 $845,129

2011 $621,361

2012 $1,283,980

2013 $1,581,789

W: +73% in 2013 compared to 2010-2012 avg.


%

MID BEACH

CHANGE W: waterfront N: non-waterfront

Average $/SF

W: +28% N: +12%

A LL CO ND O S 600 $388

500

$364

in 2013 compared to 2010-2012 avg.

$400 $329

400 $300

$330 $300

300

# Transactions

$239

W: +88% N: +69%

200

in 2013

100

compared to 2010-2012 avg.

$200

$236

$100 21 3 53

0

6 297

5

2010

Avg. Sale Price

$500

$460

2011

Average Sales Price Waterfront Non-Waterfront

in 2013

16 544

85

2012

waterfront properties

# transactions

W: +28% N: +11%

519

41

74

non-waterfront properties

2010 $464,247 $196,400

2011 $400,298 $188,918

$0

2013

2012 $467,646 $202,828

average $/SF

2013 $568,881 $217,718

compared to 2010-2012 avg.

N ORT H B AY R OA D & P I NE TR E E D R I VE: SI NG LE FA M I LY HO MES Average $/SF

20

$1000

W: +64%

$979

in 2013 compared to 2010-2012 avg.

$745

$800

15

$600

$674

10

# Transactions

$400

W: +70% in 2013

$370

5

$200

compared to 2010-2012 avg.

0

Avg. Sale Price

W: +50% in 2013 compared to 2010-2012 avg.

4

10

9

13

2010

2011

2012

2013

# transactions

Average Sales Price Waterfront

waterfront properties

2010 $3,275,000

2011 $4,823,879

$0

average $/SF

2012 $6,302,778

2013 $7,194,615

29


%

NORTH BEACH

CHANGE W: waterfront N: non-waterfront

AL L CO ND O S 300

$600 $497

$500

$441

250

$400

$344

$325

200

Average $/SF

W: +34% in 2013 compared to 2010-2012 avg.

$300

# Transactions

150

$200

W: +94% in 2013

100

$100 26

142

258

276

2010

2011

2012

2013

0

$0

waterfront properties

# transactions

compared to 2010-2012 avg.

average $/SF

Avg. Sale Price

W: +28% Average Sales Price Waterfront

2010 $336,555

2011 $377,759

2012 $484,252

2013 $510,753

in 2013 compared to 2010-2012 avg.

BA L H AR B OUR: S I N G LE FA M I LY H O M E S $856

15

$900

$792

10

$493 $430

$406

5

$800

W: +33%* N: +21%

$700

in 2013

$600

compared to 2010-2012 avg.

$500

$406

$256

$400

# Transactions

$300

W: +100%* N: +15%

$200 21 0

0

6 3

4

2010

# transactions

2011

waterfront properties

Average Sales Price Waterfront Non-Waterfront 30

9

2010 NA $792,750

13

2

2012

$100

16 5

10

$0

in 2013 compared to 2010-2012 avg.

2013

non-waterfront properties

2011 $2,204,000 $1,316,611

Average $/SF

2012 $5,637,500 $1,580,963

*Compared to 2011-2012 avg. due to lack of sales in 2010.

average $/SF

2013 $3,550,000 $1,390,000

Avg. Sale Price

W: -9%* N: +13% in 2013 compared to 2010-2012 avg.


% CHANGE

NORTH BEACH & THE ISLANDS

W: waterfront N: non-waterfront

Average $/SF

W: +38% N: +35% in 2013 compared to 2010-2012 avg.

B A L H A R B O U R: CO ND O S 250

$600

$551

$500

$454

200

$422

$400

$324

150

$300

# Transactions

W: +112% N: +60% in 2013 compared to 2010-2012 avg.

100

$188 $117

50

$100 21 51

0

6 112

27

2010

Avg. Sale Price

$200

$153

$148

2011

Average Sales Price Waterfront Non-Waterfront

in 2013

56

189

2012

waterfront properties

# transactions

W: +49% N: +55%

26

16 249

58

non-waterfront properties

2010 $465,194 $123,170

2011 $636,545 $143,413

$0

2013

2012 $693,686 $160,585

average $/SF

2013 $892,679 $220,133

compared to 2010-2012 avg.

F I SH E R I SL A ND Average $/SF

100

$900

W: +23%

$874

$800

in 2013 compared to 2010-2012 avg.

$700

$777

$767

75

$600 $592

$500

50

# Transactions

$400

W: +56%

$300

in 2013

25

$200

compared to 2010-2012 avg.

$100 0

Avg. Sale Price

20

48

82

78

2010

2011

2012

2013

# transactions

waterfront properties

$0

average $/SF

W: +35% in 2013 compared to 2010-2012 avg.

Average Sales Price Waterfront

2010 $1,241,000

2011 $2,751,313

2012 $2,230,244

2013 $2,797,833 31


%

THE ISLANDS

CHANGE W: waterfront N: non-waterfront

PAL M / H I B I S CUS / STA R I SL A ND S 15

$1200

$1085

W: +15% N: -19%

$992

10

$900

$760

$733

Average $/SF

in 2013 compared to 2010-2012 avg.

$600 $413

# Transactions

$355

5

$278

$263

$300

W: +25% N: +25% in 2013

3

0

2

9

2010

4

12

2011

Average Sales Price Waterfront Non-Waterfront

10

2012

waterfront properties

# transactions

6

5

2011 $3,829,667 $997,058

compared to 2010-2012 avg.

2013

non-waterfront properties

2010 $2,691,667 $1,549,500

$0

2012 $7,515,250 $1,294,500

average $/SF

Avg. Sale Price

W: +15% N: -9%

2013 $5,391,675 $1,160,000

in 2013 compared to 2010-2012 avg.

T H E V E N E T I A N I SL A ND S 20

$1200

Average $/SF

W: +49%

$959

in 2013 15

$900

$775

$574

compared to 2010-2012 avg.

$586

10

$600

# Transactions 5

$300

0

3

8

16

15

2010

2011

2012

2013

# transactions

waterfront properties

W: +67% in 2013 compared to 2010-2012 avg.

$0

average $/SF Avg. Sale Price

W: +84% Average Sales Price Waterfront 32

2010 $1,741,667

2011 $2,933,125

2012 $3,589,594

2013 $5,068,333

in 2013 compared to 2010-2012 avg.


%

THE ISLANDS

CHANGE W: waterfront N: non-waterfront

Average $/SF

SU NSE T I SL A ND S 20

$1200

W: +54%

$1005

$979

in 2013 compared to 2010-2012 avg.

$813

15

$900

10

$600

5

$300

# Transactions

W: +29% in 2013

$168

compared to 2010-2012 avg.

1

0

2010

Avg. Sale Price

3

17

9

2011

2012

2013

waterfront properties

# transactions

$0

average $/SF

W: +63% Average Sales Price Waterfront

in 2013 compared to 2010-2012 avg.

2010 $1,600,000

2011 $4,391,667

2012 $6,626,541

2013 $6,875,889

L A GORCE Average $/SF

W: +223%

$1692

4

in 2013 compared to 2010-2012 avg.

$1800 $1500

3

$1200 $850

# Transactions

2

$900

W: +100% in 2013

$600

$722

1

compared to 2010-2012 avg.

$300 0

Avg. Sale Price

2

1

2

2011

2012

2013

waterfront properties

# transactions

$0

average $/SF

W: +343% in 2013 compared to 2010-2012 avg.

Average Sales Price Waterfront

2011 $9,050,000

2012 $5,750,000

2013 $21,875,000 33


%

THE ISLANDS

CHANGE W: waterfront N: non-waterfront

I N D I AN C R E E K

Average $/SF

$479

200

$500

W: +87% in 2013

160

$400

$412 120

compared to 2010-2012 avg.

$307 $260

$300

$261

80

# Transactions

W: +500% $248

$247

$240

$200

40

16

0

1

7

52

2010

2011

compared to 2010-2012 avg.

12

169

2012

waterfront properties

# transactions

5

89

in 2013

$100

2013

non-waterfront properties

average $/SF

Avg. Sale Price

W: +3% Average Sales Price Waterfront

2010 $420,000

2011 $2,250,000

2012 $490,500

2013 $1,087,908

in 2013 compared to 2010-2012 avg.

B AY H A R B O R 5

$1200

$1070

Average $/SF

W: +135% in 2013

4

$900

compared to 2010-2012 avg.

3

$600

$493

2

# Transactions

$356

$519

W: +150% $300

1

0

1

3

2

5

2010

2011

2012

2013

# transactions

waterfront properties

in 2013 compared to 2010-2012 avg.

$0

average $/SF

Avg. Sale Price

W: +290% Average Sales Price Waterfront 34

2010 $800,000

2011 $2,204,000

2012 $1,767,500

2013 $6,210,000

in 2013 compared to 2010-2012 avg.


35


MIAMI NORTH G O L D E N

B E A C H

/

S U N N Y

I S L E S

/

A V E N T U R A

Sunny Isles Beach and Aventura have been home to a wealth of new developments and privileged residents over recent years. Extensive views of the intracoastal waterways and the pristine Atlantic Ocean provide an idyllic setting for a home in the sky. The development of several high-end condominiums, such as Bellini in William’s Island, has elevated the standard of living in these communities and has driven prices above years past. Not to be overlooked, is the neighboring oceanfront town of Golden Beach, which offers extravagant living in beautiful single family homes. The town offers a mile long private beach, unsurpassed security with its own police department and an ideal location minutes from Miami and Fort Lauderdale. 36


% CHANGE

GOLDEN BEACH & SUNNY ISLES

W: waterfront N: non-waterfront

G OL D E N B E AC H: SI NG LE FA M I LY H O M E S

Average $/SF

W: +28% N: +77%

15

$1000

$913 $847

$900

$765

$800

in 2013 compared to 2010-2012 avg.

$700

10

$600 $500

# Transactions

W: +89% N: +15%

$302 $393 $225

$218 2

0

6 12

2

2010

Avg. Sale Price

$300 $200

in 2013 compared to 2010-2012 avg.

$400

5

$100

16 12

6

5

2011

Average Sales Price Waterfront Non-Waterfront

in 2013

5

2012

waterfront properties

# transactions

W: +19% N: +79%

21 $223

5

non-waterfront properties

2010 $3,901,000 $567,500

2011 $2,917,500 $692,000

$0

2013

2012 $5,132,600 $1,205,833

average $/SF

2013 $4,733,958 $1,307,000

compared to 2010-2012 avg.

SU NNY I SLE S: CO ND O S Average $/SF

1000

$450

W: +17% in 2013

$433

$421

800

$350

compared to 2010-2012 avg.

$340

$354

$300

600

# Transactions

$250 $200

400

$150

W: +75% in 2013

$400

$100

200

$50

compared to 2010-2012 avg.

0

76

397

817

751

2010

2011

2012

2013

# transactions

waterfront properties

$0

average $/SF

Avg. Sale Price

W: +28% in 2013 compared to 2010-2012 avg.

Average Sales Price Waterfront

2010 $546,310

2011 $531,374

2012 $636,968

2013 $731,979 37


%

AVENTURA

CHANGE W: waterfront N: non-waterfront

AL L S I N G L E FA M I LY H O M E S

Average $/SF $375

30

$400

$332

$350

$307

W: +28% N: +14% in 2013

$300 $239

20

$250

$266 $238

$233

$230

10

compared to 2010-2012 avg.

$200

# Transactions

$150

W: +84% N: +54%

$100

in 2013 21 19

0

6 10

12

2010

8

2011

2012

waterfront properties

# transactions

Average Sales Price Waterfront Non-Waterfront

16 30

15

20

$50 18

2013

non-waterfront properties

2010 $1,014,351 $598,333

2011 $625,700 $722,250

$0

compared to 2010-2012 avg.

2012 $996,700 $656,045

average $/SF

Avg. Sale Price

W: +26% N: +13%

2013 $1,103,275 $747,391

in 2013 compared to 2010-2012 avg.

AL L CO ND O S 1000

$300

Average $/SF

W: -61% $233

800 $227

600

$219

$250

in 2013

$200

compared to 2010-2012 avg.

$150

# Transactions

400

$100 $89

200

0

475

465

959

939

2010

2011

2012

2013

waterfront properties

# transactions

$50

W: +48% in 2013 compared to 2010-2012 avg.

$0

average $/SF Avg. Sale Price

W: +31% Average Sales Price Waterfront 38

2010 $377,961

2011 $356,359

2012 $390,097

2013 $489,324

in 2013 compared to 2010-2012 avg.


39


48

TRENDS 2014 - Shortened Version  

TRENDS Communities for Miami-Dade.

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