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TRENDS

2013 UPDATE

3RD QUARTER


BRINGING BALANCE BACK The third quarter of 2013 shows gentle increases in inventory in Miami-Dade County in most price ranges, bringing some much needed balance back to the market. Prices are stabilizing in most market segments with average sold prices up considerably from last year and the rate of increase slowing, balancing out the market. To date in 2013 there have been 25 sales over $10M in Miami-Dade and Broward counties.

89

days on market

MARKET UPSWING

One of the main indicators of an improving market is DOM (days on market). Miami-Dade County enjoyed significantly improving statistics during third quarter 2013. The DOM in Miami-Dade decreased on average by 10 days compared to the same time last year. Source: Trendgraphix


MIAMI-DADE

3RD QUARTER 2013 vs. 3RD QUARTER 2012

INVENTORY

SALES

AVG $/SF

OVERALL

11.7%

10.2%

13.8%

ALL $1-5M

3.1%

2.5%

1.9%

$1-5M HOMES

3.6%

51.1%

7.4%

$1-5M CONDOS

5.3%

2.7%

2.6%

MIAMI BEACH

7.9%

1.7%

3.7%

MIAMI

25.2%

6.5%

24.0%

ZIP: 33160

13.4%

NO CHANGE

18.3%

$500K-$1M

9.5%

42.0%

10.1%

OVER $5M

2.8%

NO CHANGE

NO CHANGE

KEY OBSERVATIONS $530

$419

average $/sf, all $1-5M properties

$673

average $/sf, $1-5M condos

$303

average $/sf, $500K-1M

average $/sf, $1-5M homes

$804

average $/sf, all properties over $5M

$635

average $/sf, all waterfront properties over $1M

BROWARD

3RD QUARTER 2013 vs. 3RD QUARTER 2012

INVENTORY

SALES

AVG $/SF

OVERALL

0.5%

7.0%

19.6%

ALL $1-5M

4.2%

37.5%

3.7%

$1-5M HOMES

8.2%

29.2%

2.3%

$1-5M CONDOS

6.3%

62.5%

3.0%

$500K-$1M

3.8%

51.3%

1.9%

OVER $5M

3.2%

NO CHANGE

NO CHANGE

KEY OBSERVATIONS $392

average $/sf, all $1-5M properties

$364

average $/sf, $1-5M homes

$538

137

average $/sf, $1-5M condos

$213

average $/sf, $500K-1M

# of properties sold in Q3 2013 over $1M

$431

average $/sf, all waterfront properties over $1M

*based on closed sale numbers for September 2013


onesothebysrealty.com

Source: Trendgraphix.com This material is based upon information that we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. This offering is subject to errors, omissions, changes, including price, or withdrawal without notice. ŠMMXIII Sotheby’s International Realty Affiliates LLC. All Rights Reserved. An Equal Opportunity Company. Equal Housing Opportunity.


Trends Q3 2013 Update Dade