ONE | SOTHEBY’S INTERNATIONAL REALT Y
2014 market report
TRENDS is now trending. In 2010, our first TRENDS piece launched to provide quality real estate trends by area in a market that was recovering one neighborhood at a time. Four years later, we would like to redefine our TRENDS to incorporate a longer and broader look at what is truly trending. To that end, we now include a 4-year history by neighborhood so that the full recovery trend is visible. We have added some of South Florida’s global real estate statistics in the international spotlight section, because our market is only one degree of separation from these feeder markets. Finally, we are including new construction data. Both because it is a significant portion of current inventory and because this market does drive resale real estate trends. Please note the new format changes as well. The market overview charts provide additional information in an easy-to-read format. With the evolution of this market report, we also realize that the world is now defined by social media and the use of hashtags is widespread. With a single hashtag, trending topics are easily accessible by anyone in the world. The current use of the internet has taken globalization and the transfer of information to a new level. Acknowledging the importance of consistent market updates, we will be publishing ongoing statistics of all major South Florida communities in our social media accounts as they occur, with the hashtag #ONEretrend. For the 2014 market report, you will see that most areas are fully recovered. Inventory is approaching a more sustainable and balanced level and the rate of increase in pricing is slowing. The mid-priced market was the true winner in 2013, with that last bit of recovery happening in the $250,000 - $500,000 price range, which posted more than a 35% increase in sales in both Miami-Dade and Broward counties for the year. The full rebound of the mid market is the sign of a fully recovered market. Looking forward to 2014, prices should continue to flatten as inventory continues to build. However, this is not a bad sign, as double digit price increases are not healthy or sustainable over the long run. A healthy projection should be a chart that mirrors a staircase: repeated moderate increases followed by a short-lived plateau. This year will be a run until the next rise. Grow, adjust, grow, adjust‌ it is a healthy beat signifying a stable economy.
Seth Feuer Estate Agent 305.537.6795 realtor@sethfeuer.com www.sethfeuer.com
03
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HILLSBORO BEACH LIGHTHOUSE POINT
BAY COLONY
LAUDERDALE BY THE SEA
FORT LAUDERDALE BEACH CORAL RIDGE VICTORIA PARK
LAS OLAS ISLES RIO VISTA
HARBOR BEACH WESTON HOLLYWOOD BEACH
Broward GOLDEN BEACH
HALLANDALE BEACH AVENTURA
Miami-Dade SUNNY ISLES
NORTH BEACH Bal Harbour
MID BEACH Pine Tree Drive and North Bay Road
MIDTOWN DOWNTOWN BRICKELL
SOUTH BEACH South of Fifth
THE ISLANDS COCONUT GROVE KEY BISCAYNE CORAL GABLES PINECREST PALMETTO BAY
Cocoplum Gables Estates Snapper Creek Lakes Old Cutler Ponce Davis / High Pines Deering Bay
Fisher Island Palm / Hibiscus / Star Islands Venetian Islands Sunset Islands La Gorce Island Indian Creek Bay Harbor
Market Overview Market Highlights Miami-Dade Broward Community Profiles: Snapshot In-Depth Look: Community Profiles Miami / South Coconut Grove Coral Gables Pinecrest Palmetto Bay Downtown Key Biscayne Brickell Downtown Midtown Miami Beach South Beach Mid Beach North Beach The Islands Miami / North Golden Beach Sunny Isles Aventura Broward County Fort Lauderdale Las Olas Isles Harbor Beach Fort Lauderdale Beach Rio Vista Victoria Park Bay Colony Weston Coral Ridge Lauderdale by the Sea Hollywood / Hallandale Beaches Hillsboro Beach Lighthouse Point Pre-Construction Highlights International Spotlight About ONE | Sotheby’s International Realty
06 08 10 11 12 16 17 18 22 22 24 25 26 27 28 30 32 33 34 35 40 41 41 42 44 45 46 46 47 48 48 49 49 50 50 51 52 52 54 56 58
06
MARKET OVERVIEW 2013 IN REVIEW: MONTH TO MONTH
MIAMI-DADE Sold
For Sale
$/SF
18,000
$300
16,000
Sold / For Sale
$200
12,000 10,000
$150
8,000
$100
6,000 4,000
Price per Square Foot
$250
14,000
$50
2,000
$0
0
BROWARD Sold
18,000 16,000
Sold / For Sale
12,000 10,000 8,000 6,000 4,000 2,000 0
$/SF
$300 $250 $200 $150 $100 $50 $0
Price per Square Foot
14,000
For Sale
07
SUPER LUXURY: ON THE RISE
1,600
1,200
1,400
1,000
1,200 1,000
800
800
600
600
400
400
200
200 0
0 2011
2012
Single-Family Homes
2013
2010
2011
2012
Single-Family Homes
Condos
2013
Condos
100
2,000
90
1,800
80
1,600
70
1,400
60
1,200
50
1,000
40
800
30
600
20
400
10
200
PRICE / SQ. FT. | $5M - $10M
PROPERTIES SOLD | $5M - $10M
Condos
1,400
2010
0
0 2010
2011
2012
Single-Family Homes
2013
2010
2011
2012
Single-Family Homes
Condos
2013
Condos
30
3,000
25
2,500
20
2,000
15
1,500
10
1,000 500
5
0
0 2010
2011
2012
2013
2010
2011
2012
2013
PRICE / SQ. FT. | $10M+
PROPERTIES SOLD | $10M+
Single-Family Homes
Condos
PRICE / SQ. FT. | $1M - $5M
PROPERTIES SOLD | $1M - $5M
Single-Family Homes
1,800
08
MARKET HIGHLIGHTS MIAMI-DADE 2013
BROWARD 2013
31,909
$273
29,952
$155
# TRANSACTIONS
AVG. PRICE/SF
# TRANSACTIONS
AVG. PRICE/SF
W 8.0%
W 8.3%
W 5.8%
W 15.3%
compared to 2012
compared to 2012
compared to 2012
compared to 2012
LA GORCE ISLAND
HILLSBORO BEACH
$1,692
$919
HIGHEST AVG. PRICE/SF
HIGHEST AVG. PRICE/SF
Hillsboro Beach
09
MEDIAN SALE PRICE | ALL HOMES Miami
Fort Lauderdale
US
$407K
$314K
$222K
$129K 2010
2011
2012
2013
2014
M E D I A N R E N TA L L I S T I N G $ / S F | A L L H O M E S Miami
Fort Lauderdale
US
$2.39
$1.86
$1.33
$0.80 2011
2012
2013
2014
10
MIAMI-DADE RESIDENTIAL MARKET
SINGLE-FAMILY HOMES
% Change from 2012 to 2013
W 9%
W 13%
X 4%
W 17%
# Transactions Waterfront
# Transactions Non-Waterfront
Price/Sq. Ft. Waterfront
Price/Sq. Ft. Non-Waterfront
waterfront (W)
non-waterfront (N)
14,000
$450 $387
$371
12,000 $314
$350
$292
10,000
$400
$300 8,000
$250
6,000
$156 $127
$125
$133
$200 $150
4,000
$100 2,000 0
$50 819
9,083
2010
966
10,335
2011
1,036 10,998
2012
1,130
12,463
$0
2013
CONDOMINIUMS
% Change from 2012 to 2013
W 1%
W 7%
W 15%
W 19%
# Transactions Waterfront
# Transactions Non-Waterfront
Price/Sq. Ft. Waterfront
Price/Sq. Ft. Non-Waterfront
waterfront (W)
non-waterfront (N)
14,000
$411
$400
$358
12,000 $309
10,000
$450
$350
$287
$300 8,000
$250
6,000
$155 $130
4,000
$104
$200 $150
$105
$100 2,000 0
$50 5,481 8,680
6,806 10,727
7,284 10,226
7,373 10,943
2010
2011
2012
2013
Numbers by TrendgraphixŠ
$0
11
BROWARD RESIDENTIAL MARKET % Change from 2012 to 2013
W 8%
W 9%
W 12%
W 16%
# Transactions Waterfront
# Transactions Non-Waterfront
Price/Sq. Ft. Waterfront
Price/Sq. Ft. Non-Waterfront
non-waterfront (N)
10,000
$250 $200 $175
$172
$200
$178
8,000
$150 6,000 4,000
$134 $115
$110
$100
$116
$50
2,000 0
SINGLE-FAMILY HOMES
waterfront (W) 12,000
2,681
8,411
2010
2,897
8,884
2011
3,240
9,669
2012
3,513
10,510
$0
2013
% Change from 2012 to 2013
W 5%
W 2%
W 14%
W 21%
# Transactions Waterfront
# Transactions Non-Waterfront
Price/Sq. Ft. Waterfront
Price/Sq. Ft. Non-Waterfront
non-waterfront (N) $250
10,000 8,000
$182 $148
$200
$159 $144
$150 6,000
$102 $79
4,000
$76
$84
$100
$50
2,000 0
5,721
9,360
2010
6,074
9,797
2011
6,007
9,387
2012
Numbers by TrendgraphixŠ
6,335
9,594
2013
$0
CONDOMINIUMS
waterfront (W) 12,000
12
COMMUNITY PROFILES: SNAPSHOT South Florida is comprised of several prominent communities, which are greatly influential and indicative of the market’s overall health. Areas such as Coral Gables and Coconut Grove in Miami-Dade carry a great deal of weight in the general statistics of the county. The tables below demonstrate market trends for the main areas of focus in Miami-Dade and Broward. These communities are reviewed in further detail in the following section.
Change: comparison between 2012 & 2013 statistics.
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
43
$3,170,789
$469
2010
16
$854,697
$326
2011
137
$1,777,918
$370
2011
69
$692,162
$302
2012
193
$1,954,528
$406
2012
143
$761,796
$357
2013
217
$3,797,811
$388
2013
158
$758,487
$374
Change
g12%
g94%
h4%
Change
g10%
0%
g5%
CONDOMINIUMS
SINGLE-FAMILY HOMES
COCONUT GROVE
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
343
$1,816,014
$397
2010
34
$1,088,676
$357
2011
326
$1,786,483
$394
2011
17
$888,059
$321
2012
570
$2,051,202
$433
2012
106
$1,014,212
$379
2013
643
$1,969,151
$441
2013
56
$1,003,036 $397
Change
g13%
h4%
g2%
Change
h47%
h1%
g5%
PALMETTO BAY
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
45
$1,335,661
$257
2010
55
$411,292
$139
2011
187
$1,475,021
$353
2011
210
$366,096
$125
2012
225
$1,191,150
$297
2012
342
$380,836
$125
2013
242
$949,988
$252
2013
291
$457,814
$159
Change
g8%
h20%
h15%
Change
h15%
g20%
g27%
SINGLE-FAMILY HOMES
SINGLE-FAMILY HOMES
PINECREST
CONDOMINIUMS
SINGLE-FAMILY HOMES
CORAL GABLES ($500K+)
13
# Trans. Avg. Sale $ Avg. $/SF 2010
1
$420,000
2011
1
2012
$1,380
# Trans. Avg. Sale $ Avg. $/SF 2010
125
$354,748
$267
$2,250,000 $251
2011
623
$348,254
$293
4
$490,500
$173
2012
1,135
$396,957
$346
2013
12
$1,087,908
$351
2013
1,123
$477,557
$328
Change
g200%
g122%
g103%
Change
h1%
g20%
h5%
DOWNTOWN
MIDTOWN
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
76
$265,953
$241
2010
33
$191,334
$169
2011
475
$250,857
$227
2011
212
$181,664
$169
2012
897
$294,365
$278
2012
410
$248,789
$242
2013
983
$394,164
$246
2013
506
$348,426
$340
Change
g10%
g34%
h12%
Change
g23%
g40%
g40%
CONDOMINIUMS
CONDOMINIUMS
CONDOMINIUMS
SINGLE-FAMILY HOMES
BRICKELL
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
180
$1,854,809
$444
2010
2,094
$436,636
$409
2011
177
$2,281,900
$531
2011
1,495
$420,528
$388
2012
295
$2,416,577
$526
2012
2,828
$473,808
$446
2013
343
$2,588,201
$635
2013
2,905
$504,216
$420
Change
g16%
g7%
g21%
Change
g3%
g6%
h6%
CONDOMINIUMS
SINGLE-FAMILY HOMES
MIAMI BEACH
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
10
$3,376,567
$583
2010
20
$1,241,000
$592
2011
26
$4,407,039 $419
2011
48
$2,751,313
$767
2012
55
$9,904,592 $993
2012
82
$2,230,244 $777
2013
41
$8,074,179
$659
2013
78
$2,797,833
$874
Change
h25%
h18%
h34%
Change
h5%
g25%
g12%
SINGLE-FAMILY HOMES
SINGLE-FAMILY HOMES
THE ISLANDS | MIAMI BEACH
14
COMMUNITY PROFILES: SNAPSHOT
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
26
$3,976,176
$878
2010
36
$595,910
$360
2011
43
$3,914,092
$1,237
2011
120
$725,804
$416
2012
74
$4,376,787
$897
2012
290
$828,034
$473
2013
63
$4,528,437
$964
2013
224
$860,659
$545
Change
h15%
g3%
g7%
Change
h23%
g4%
g15%
CONDOMINIUMS
SINGLE-FAMILY HOMES
KEY BISCAYNE
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
31
$806,342
$269
2010
475
$377,961
$227
2011
18
$673,975
$236
2011
465
$356,359
$219
2012
35
$826,373
$285
2012
959
$390,097
$233
2013
48
$925,333
$321
2013
937
$530,460
$277
Change
g37%
g12%
g12%
Change
h2%
g36%
g19%
SUNNY ISLES
GOLDEN BEACH # Trans. Avg. Sale $ Avg. $/SF
2010
76
$546,310
$340
2010
4
$2,234,250 $566
2011
397
$531,374
$354
2011
17
$1,804,750
$264
2012
817
$636,968
$421
2012
11
$3,169,217
$494
2013
751
$731,979
$433
2013
17
$3,020,479 $620
Change
h8%
g15%
g3%
Change
g55%
h5%
g26%
SINGLE-FAMILY HOMES
# Trans. Avg. Sale $ Avg. $/SF CONDOMINIUMS
CONDOMINIUMS
SINGLE-FAMILY HOMES
AVENTURA
15
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
1,159
$617,785
$237
2010
1,324
$267,191
$258
2011
1,223
$656,310
$208
2011
1,304
$252,062
$245
2012
1,600
$670,987
$114
2012
1,900
$281,714
$228
2013
1,809
$755,799
$185
2013
2,085
$327,744
$265
Change
g13%
g13%
g63%
Change
g10%
g16%
g16%
CONDOMINIUMS
SINGLE-FAMILY HOMES
FORT LAUDERDALE
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
6
$317,267
$157
2010
177
$236,027
$281
2011
32
$448,547
$179
2011
513
$214,007
$241
2012
45
$539,067
$149
2012
934
$225,263
$234
2013
50
$699,625
$216
2013
848
$260,190
$259
Change
g11%
g30%
g45%
Change
h9%
g16%
g11%
LIGHTHOUSE POINT
# Trans. Avg. Sale $ Avg. $/SF
# Trans. Avg. Sale $ Avg. $/SF
2010
5
$6,430,000 $743
2010
80
$621,015
$235
2011
2
$5,950,000 $773
2011
50
$700,287
$207
2012
2
$13,075,000 $1,296
2012
81
$674,857
$211
2013
4
$5,631,250
$919
2013
98
$786,875
$257
Change
g100%
h57%
h29%
Change
g21%
g9%
g22%
SINGLE-FAMILY HOMES
SINGLE-FAMILY HOMES
HILLSBORO
CONDOMINIUMS
SINGLE-FAMILY HOMES
HOLLYWOOD / HALLANDALE BEACHES
16
MIAMI / SOUTH 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. With exclusive communities such as Coco Plum and Gables Estates, it continues to be one of the finest places to live in Miami. This area offers 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.
17
COCONUT GROVE
COCONU T GROV E: SI N G L E-FA MI LY H OMES Although it appears that waterfront homes dropped in avg. price/square foot in 2013, the small sampling of only two homes is not a good indicator of its overall health. With an average sale price of about $6.7 million in 2013, Coconut Grove proves to be an extremely desirable residential area.
Avg. Sale Price
non-waterfront (N)
waterfront (W) 250
2013
$545
200
W: $6,687,500 N: $908,122
2012
$600
W: $3,176,571 N: $732,484
2011
$693
W: $2,870,000 N: $685,835
2010
$700
W: $5,665,000 N: $676,577
$480
$500
$440 150
$400
$335 100
$266
$259
$244
$300
50
$200 38
5
131
6
186
7
215
2
0
2010
2011
2012
$100
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 111% N: W 24%
W: X 71% N: W 16%
W: X 19% N: W 26%
2012 - 2013 % CHANGE
COCONUT G R OV E: CON D OS Coconut Grove waterfront and non-waterfront condos have consistently increased in price since 2011, as has the number of transactions. With luxury condo developments set to debut in the next couple of years, condo prices are sure to continue to rise. waterfront (W)
Avg. Sale Price
non-waterfront (N): $500K+
120
80
60
$243 $223
2
2010
61
8
2011
W: $661,893 N: $1,047,500
$250
20 14
W: $739,211 N: $645,313
$350
$304
$296
0
W: $788,779 N: $734,813
$450
$380
40
2013
$409
2012
$443 $418
W: $816,580 N: $700,393
2011
100
2010
$550
115
28
2012
105
53
$150
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: W 4% N: X 5%
W: X 9% N: W 89%
W: W 6% N: W 3%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
18
CORAL GABLES
CORAL GABLE S: SI N G L E-FA MI LY H OMES Historic Coral Gables has long been a desirable residential area, and 2013 was no exception. While the average sales price and the average price per square foot for waterfront homes dropped slightly in 2013, median sale prices increased 4% from 2012, displaying a steady uptrend for this area.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2012
2013
600
$650 $600
W: $3,107,759 N: $830,542
500
$598
$500
$529
400
W: $3,387,174 N: $715,229
$550
$576
$507
$450 $400
2011
W: $2,744,387 N: $828,579
2010
300
W: $2,923,495 N: $708,533
200
$264
$267
$300 $250
100
$200 0
48
295
45
2010
2012 - 2013 % CHANGE
$350
$305
$281
281
84
2011
486
76
2012
567
$150
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: X 8% N: W 16%
W: X 10% N: W 17%
W: X 4% N: W 14%
CORAL G A BL ES: CON D OS Condos only account for about 33%of all Coral Gables residences, but market trends display steady growth since 2010. Although the number of waterfront transactions slightly dipped in 2013, an increased avg. price per square foot and median sale price of $1,360,000 are positive indicators.
Avg. Sale Price
waterfront (W)
2013
40
non-waterfront (N) $550
$528
W: $1,664,531 N: $731,671
$481
35 $440
2012
30
W: $1,495,444 N: $737,344
$450
25
$382
$400 $354
2010
2011
20
W: $1,223,000 N: $738,500
$290
10
$300
$257
$250
5 0
9
21
2010
2012 - 2013 % CHANGE
$350
$307
15
W: $2,184,444 N: $673,810
$500
5
12
2011
18
25
2012
16
35
$200
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 11% N: x 1%
W: X 11% N: W 40%
W: w 9% N: w 15%
W: Waterfront N: Non-waterfront
19
CORAL GABLES
COCOPLUM : SI N G L E-FA MI LY H OMES An exclusive enclave in the heart of Coral Gables, the islands of Cocoplum house beautiful single-family homes. While waterfront homes are in line with the overall Coral Gables average, non waterfront homes in this community are about $100 per foot more than the rest of the area.
Avg. Sale Price
non-waterfront (N)
waterfront (W) 18
14
2013
$550
$507
W: $3,336,173 N: $2,368,588
2012
$547
$529
W: $3,243,145 N: $1,583,333
2011
$594
16
W: $4,303,571 N: $1,908,929
2010
$600
W: $3,318,750 N: $2,247,188
$500
12 10
$450
$407
8
$382
$368
$400
6
$350
$316 4
$300
2 0
4
4
2010
7
14
2011
11
6
2012
14
9
$250
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 3% N: W 50%
W: w 27% N: W 50%
W: w 3% N: W 29%
2012 - 2013 % CHANGE
GAB LE S E STATES: SI N G L E-FA MI LY H OMES 200 acres of some of the best and most desirable Coral Gables real estate lie within Gables Estates, off beautiful Old Cutler Road. These large homes have been consistently selling above $900 per foot for the past three years, well over the area average. 2014 promises to follow a similar trend.
Avg. Sale Price
all properties 12 $928
9
$7,146,000
$9,888,182
$5,243,633
$4,150,000
$900
8
$850
7
$800
6 5
$750
4
$700
3 2
$950
2013
$988
2012
$935
2011
11 10
2010
$1,000
$694
1
$650
1
3
11
7
2010
2011
2012
2013
0
$600
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
x 28%
x 36%
x 6%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
20
CORAL GABLES
S N APPE R C RE E K L A KES: SI N G L E-FA MI LY H OMES Snapper Creek Lakes is a private community with a mere 124 residences, many of which are on lakes or on a canal with quick access to Biscayne Bay. Four of the five transactions closed in 2013 were for non-waterfront homes at an avg. of $471 per square foot, an increase of 37% from 2012.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2013
W: $4,200,000 N: $2,896,250
2012
W: $3,100,000 N: $2,456,250
2011
W: $8,000,000 N: $2,986,563
2010
5
W: NA N: NA
$500 $471 $496
4
$460 $426
3
$420
$438 $374
$380
2
$340
1 $345 0
1
4
2011
2012 - 2013 % CHANGE
2
4
1
2012
4
$300
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 35% N: W 18%
W: X 50% N: 0%
W: X 12% N: W 37%
O L D CUTLE R COM M U N I TI ES: SI N G L E-FA MI LY H OM E S This prestigious gated community offers large waterfront homes set in expansive lots with close proximity to the heart of Coral Gables. This small community had the most transactions in 2013 and closed at an average of $673 per foot. There were no transactions in 2010 or 2011.
Avg. Sale Price
waterfront (W)
2013
8
$690
7
W: $4,550,000
$673
6
2012
$700
$661
$670
5
W: $3,176,250
$660
2011
4
$650 $640
3
W: NA
$630
2010
2
0
2012 - 2013 % CHANGE
$620
1
W: NA
$680
$610 4
6
2012
2013
$600
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 43%
W: w 50%
W: w 2%
W: Waterfront N: Non-waterfront
21
CORAL GABLES
P O N CE DAVIS, HIGH P I N ES: SI N G L E-FA MI LY H OME S Sitting just outside the city limits of South Miami and Coral Gables, this area offers large homes amidst lush landscaping and close proximity to the area’s best schools. With average sale prices below those of neighboring communities, the Ponce-Davis, High Pines area is a hidden gem.
Avg. Sale Price
non-waterfront (N) 50
2013
N: $1,631,271
2012
40
$336
N: $1,270,581
2011
$336
N: $1,243,900
2010
$350
N: $1,147,386
$325
$325 30
20
$300 $302 10
7
26
43
48
2010
2011
2012
2013
0
$275
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
N: W 28%
N: W 12%
N: x 10%
2012 - 2013 % CHANGE
DE E RIN G BAY: CON D OS Home to beautiful residences and an Arnold Palmer golf course, Deering Bay offers residents the ideal lifestyle. The average price per square foot for waterfront transactions has been steadily on the rise since 2010, while non-waterfront transactions are too few to accurately portray true value.
Avg. Sale Price
non-waterfront (N)
2013
$340
W: $1,058,938 N: $923,333
2012
$298
W: $1,098,846 N: $988,688
2011
$345
$341
$332
$400
W: $1,400,000 N: $607,000
2010
waterfront (W) 15
W: $925,375 N: NA
$300
10
$285
$200
$221
5 $100
0
4
0
2010
1
1
2011
12
4
2012
8
3
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: x 4% N: x 7%
W: x 33% N: x 25%
W: w 1% N: x 16%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
22
SOUTH MIAMI
PALM E T TO B AY: SI N G L E-FA MI LY H OMES The village of Palmetto Bay lies South of Pinecrest. Although the number of transactions in this area dropped by 15%, the average sales price and the average price per square foot increased 20% and 27% respectively, representing a great recovery from the 2010-2011 dip.
Avg. Sale Price
non-waterfront (N)
2013
350
N: $457,814
$200
300 $175
2010
2011
2012
250 $159
N: $380,836
200 $150
$139
150
N: $366,096
$125
50
N: $411,292
55
210
342
291
2010
2011
2012
2013
0
2012 - 2013 % CHANGE
$125
$125
100
$100
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
N: W 20%
N: x 15%
N: W 27%
PINEC RE ST: SI N G L E-FA MI LY H OMES This community, currently about 8 square miles large, is now expanding west with new developments set to launch over the next few years. Recent trends show that non-waterfront homes are the strongest sector of the Pinecrest market with a 17% increase in average sale prices in 2013.
Avg. Sale Price
waterfront (W)
non-waterfront (N)
2013
W: $768,959 N: $1,131,017
2012
W: $1,416,720 N: $965,579
2011
W: $1,944,167 N: $1,005,875
2010
250
W: $1,531,047 N: $1,140,275
$500 $466
200
150
$364
$270
100
$243
$240
$258
$300
$245
$200
$230
$100
50 21
0
3
42
2010
2012 - 2013 % CHANGE
$400
6
181
2011
16
204
2012
226
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: x 46% N: W 17%
W: x 24% N: W 11%
W: x 33% N: W 12%
W: Waterfront N: Non-waterfront
Vizcaya Museum & Gardens
24
Picture provided by One Thousand Museum.
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-family homes 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.
25
K E Y B I S C AY N E
KE Y BISC AYNE: SI N G L E-FA MI LY H OMES Waterfront homes in this lavish island have brought in over $1,000 per square foot over the past 4 years. While the average spiked in 2011, the average sale prices were consistently in the $6M range. Non-waterfront homes were the bulk of the transactions, where prices have steadily increased.
Avg. Sale Price non-waterfront (N)
waterfront (W) 60
2013 2012
W: $6,998,625 N: $1,754,948
2011
$1,901
50
W: $6,845,000 N: $2,211,873
W: $6,160,000 N: $1,668,184
2010
$2,000
W: $6,523,875 N: $1,428,477
$1,500 40 $1,265
30
$1,239
$1,214
$1,000
20
10
$490 4
0
22
5
2010
$689
$580
$573
38
2011
16
58
2012
8
$500
55
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: x 2% N: W 26%
W: X 50% N: x 5%
W: w 2% N: W 19%
2012 - 2013 % CHANGE
KE Y B ISCAY N E: CON D OS The avg. price per square foot to acquire a waterfront condo in Key Biscayne increased by 13%in 2013. The decrease in the number of closed transactions from 217 in 2012 to 157 in 2013 is due to a lack of inventory, in the area. With the eminent launch of a new condo, the area’s value is sure to rise.
150
$458
$500
$445 $375
100
$300 9
27
W: $1,105,673 N: $550,395 W: $1,120,685 N: $330,922 W: $913,041 N: $278,778
$286
$262
50
$400
2013
$600
2012
$570 $545
W: $1,125,631 N: $595,686
2011
$700
$645
200
0
Avg. Sale Price
non-waterfront (N)
2010
waterfront (W) 250
2010
88
32
2011
217
73
2012
157
67
$200
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: W 2% N: w 8%
W: X 28% N: x 8%
W: W 13% N: W 19%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
26
BRICKELL/DOWNTOWN
BRIC KE LL: S I N G L E-FA MI LY H OMES Brickell is an urban neighborhood just South of Downtown Miami and North of Coconut Grove. With a few single-family homes in the area and a great deal of development with new restaurants and entertainment, it is no wonder prices soared in 2013 with an avg. sale price of over $1 million.
2013
N: $1,087,908
2012
N: $490,500
2011
N: $2,250,000
2010
Avg. Sale Price
N: $420,000
2012 - 2013 % CHANGE
non-waterfront (N) 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 0
$400 $351
$300 $251
$200 $138
$173 1
1
4
12
2010
2011
2012
2013
$100
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
N: W 122%
N: W 200%
N: W 110%
B RIC KEL L : CON D OS Historic Brickell Avenue, once home to lavish mansions, is now lined with luxury condos. The area has greatly developed over the years, becoming one of the largest financial districts in the US. An ideal area to live, prices will surely rise with the debut of mega projects like Brickell City Centre.
Avg. Sale Price
waterfront (W)
non-waterfront (N)
2013
800
W: $590,115 N: $364,999
700 600
2012
$400 $337 $382 $336
$336
$310
W: $502,870 N: $291,043
500 $250
400
2011
$300
$318
W: $451,628 N: $244,879
300
$200
$198
2010
200
W: $501,673 N: $207,823
$100
100 0
21 31
3 94
2010
2012 - 2013 % CHANGE
6 421
202
2011
756
379
2012
16 776
347
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 11% N: w 25%
W: w 80% N: x 8%
W: w 14% N: w 9%
W: Waterfront N: Non-waterfront
27
BRICKELL/DOWNTOWN
BRIC KEL L KEY: CON D OS Brickell Key, with just twelve condo towers and no remaining buildable land, has skyrocketed with the development of Brickell and Downtown Miami. This small, exclusive island will undoubtedly continue to rise in value over the next few years.
Avg. Sale Price waterfront (W)
200
non-waterfront (N)
80 $247
$240
16
7
52
1
2010
W: $335,781 N: $410,000
$200
40
0
W: $303,187 N: $233,143
$300
$261
$248
W: $343,809 N: $239,800
$400
$307 $260
2013
120
2012
$412
2011
160
W: $631,537 N: $445,773
2010
$500 $479
2011
5
89
2012
12
169
$100
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 84% N: W 86%
W: w 90% N: W 140%
W: w 56% N: W 67%
2012 - 2013 % CHANGE
DOWN TOWN: CON D OS Downtown Miami is a highly sought-after area with the surge of cultural centers such as the Adrienne Arsht Center, the Perez Art Museum and the American Airlines Arena. With record-breaking prices by condos such as One Thousand Museum, Downtown’s value looks highly promising. waterfront (W)
Avg. Sale Price
non-waterfront (N)
700
$273
$240
W: $328,559 N: $173,154 W: $344,980 N: $186,296
$200
$207 $188
$180
200
$100
100 0
W: $369,304 N: $219,426
$300
400 300
2013
$274
W: $482,103 N: $306,225
2012
500
$304
2011
$316
600
2010
$400
27
3 49
2010
6 302
173
2011
581
316
2012
624
359
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 31% N: W 40%
W: w 7% N: W 14%
W: x 41% N: W 27%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
28
MIDTOWN
MI DTOWN / B ISC AY N E CORRI D OR: A L L CON D OS As neighboring Downtown Miami and Brickell continue to thrive, residents are seeking homes in close proximity. Biscayne Corridor has greatly developed over the years with new luxury condos, as has Midtown with the introduction of several world-class restaurants and boutiques.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2013
350
$400 $348
W: $381,154 N: $315,697
300
2010
2011
2012
250
W: $275,270 N: $222,308
200
$189
$179
$300
$332
$257
$200
$229
150
W: $201,782 N: $161,545
100
W: $241,168 N: $141,500
$158
$149
$100
50
21
18
15
0
6 137
2010
2012 - 2013 % CHANGE
75
257
2011
153
305
2012
201
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 38% N: W 42%
W: w 19% N: W 31%
W: w 36% N: W 45%
U PPE R E AST SIDE: SI N G L E-FA MI LY H OMES Belle Meade, Bay Point, Morningside, and the Design District have become known as Miami’s Upper East Side. This up-and-coming area has grown over the past years and sale prices have reached nearly $600 per foot for waterfront homes and over $250 per foot for non-waterfront homes.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2013
100
$600 $509
90
W: $2,851,154 N: $628,601
$500
80
$419
$393
2012
70
W: $2,190,000 N: $538,977
$400
60 $274
2011 2010
50
W: $1,473,888 N: $365,361 W: $2,315,833 N: $411,140
$592
$269
$300
$219
40
$182
$200
30 20
$100
10 0
0 76
6
2010
2012 - 2013 % CHANGE
9
65
2011
8
76
2012
12
98
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 30% N: w 17%
W: w 50% N: W 29%
W: w 16% N: w 23%
W: Waterfront N: Non-waterfront
Wynwood Walls artwork by Retna
30
Picture provided by the DS Team.
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 price per square foot 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. The area hasn’t seen this level of creativity and attention to detail since its Art Deco and Mid-century Modern heyday. These designers’ fresh, innovative concepts take luxury to an unprecedented height that factors in culture and lifestyle to high-end amenities, decor and location.
31
MIAMI BEACH
M IAM I BE AC H: SI N G L E-FA MI LY H OMES Miami Beach’s waterfront properties are home to several local and international celebrities due to the beautiful views. Prices for these homes have not seen higher prices in over 5 years. Whether waterfront or non-waterfront, homes in Miami Beach are ideally situated and very marketable. waterfront (W)
250
Avg. Sale Price
non-waterfront (N)
$609
100
$278
$500
$430 $339
$400
$317
$300
W: $3,610,224 N: $953,575 W: $2,936,434 N: $773,183
$200
50 21
0
2013
$600 150
W: $3,988,183 N: $844,971
$700
$735
$722
2012
200
W: $3,945,551 N: $1,230,851
2011
$800
$839
2010
$900
64
116
2010
6 66
111
2011
179
116
2012
$100
16 121
222
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: x 1% N: W 46%
W: w 4% N: W 24%
W: w 14% N: W 36%
2012 - 2013 % CHANGE
M IAM I BEACH: CON D OS Prices for waterfront and non-waterfront condos have followed a similar trend. They slowly increased during 2010-2012 largely due to developments launching in this area, with more underway. 2013 showed a slight increase in average sale price with a small decrease in price per square foot. waterfront (W)
Avg. Sale Price
non-waterfront (N)
2,000
1,600
2013
$600
$523
W: $752,708 N: $255,967
2012
$584
W: $707,954 N: $239,634
2011
$593
$594
W: $635,495 N: $205,185
2010
1,800
$700
W: $707,982 N: $165,290
$500
1,400
$400
1,200 $297
1,000
$256
$252
$223
800
$300 $200
600
200
$100
21
400 1,022
250
2010
6 1,000
497
2011
1,845
984
2012
16 1,883
1,072
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 6% N: W 7%
W: x 1% N: W 9%
W: x 2% N: x 14%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
32
SOUTH BEACH
SOU TH BEACH: CON D OS A thriving center for beautiful beaches, nightlife, shopping and dining, South Beach’s real estate runs north from 5th street to 22nd street. Prices in SoBe took a slight dip in 2013, but new luxury residences set to launch in the next two years will drastically change the average sale prices.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2013
W: $734,248 N: $234,505
2012
600
W: $911,687 N: $242,528
$1,000 $871
$851
$900 $766
500
$800
$631
400
$700 $600 $500
2011
W: $923,850 N: $181,872
2010
300
W: $737,231 N: $144,037
$333
200
$250
$227
$228
$300 $200
100 0
27
83
2010
2012 - 2013 % CHANGE
$400
6 325
267
2011
571
544
2012
$100
16 430
545
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: X 19% N: x 3%
W: X 25% N: 0%
W: X 12% N: x 32%
SOU TH O F F I F TH: CON D OS The South of Fifth enclave has grown into one of the most popular addresses in South Florida. SoFi condos and real estate are upscale and designed to standards of exclusive style and luxury, reflected in the very high price per square foot that condos in this area received in 2013.
Avg. Sale Price
waterfront (W)
2013
300
W: $1,581,789
$1,400 $1,103
250
2012
$881
$1,200 $1,000
200
W: $1,283,980
$800 150
$576
$553
2011 2010
$600
W: $621,361
W: $845,129
100
$400
50
$200 15
0
2010
2012 - 2013 % CHANGE
75
164
200
2011
2012
2013
$0
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 23%
W: w 22%
W: w 25%
W: Waterfront N: Non-waterfront
33
MID BEACH
M ID BEACH: CON D OS The Mid Beach section of Miami Beach runs from 24th to 63rd Street. While less transient than the popular South Beach area, condos receive high prices per square foot due to the great beaches and ocean views. Since 2011, prices have been on the rise, a trend which will likely continue in 2014.
Avg. Sale Price
non-waterfront (N)
$364
$400
2013
$388
500
W: $568,881 N: $217,718
2012
$460
W: $467,646 N: $202,828
2011
$500
W: $400,298 N: $188,918
2010
waterfront (W) 600
W: $464,247 N: $196,400
$329
400 $300
$330 $300
300 $239
$200
$236
200 $100
100 21
0
3 53
5
6 297
2010
41
519
2011
85
16 544
2012
74
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 22% N: W 7%
W: w 5% N: x 13%
W: w 19% N: W 27%
2012 - 2013 % CHANGE
N O RTH B AY ROAD & P I N E TREE D R I V E: SF H OME S North Bay Road and Pine Tree Drive are home to historical waterfront estates, some of which were originally built in the 1920s. Prices along these streets are consistent with the most exclusive areas in Miami Beach, at almost $1000 per square foot in 2013.
Avg. Sale Price
non-waterfront (N)
waterfront (W) 25
$745
15
10
$600
$674 $370
$400 $400
5
0
$300
$281 4
$200
$256 3
2010
10
13
2011
9
23
2012
13
22
2013
$800
2012
20
W: $7,194,615 N: $1,218,591 W: $6,302,778 N: $845,000
2011
$979
W: $4,823,879 N: $775,000
2010
$1,000
W: $3,275,000 N: $690,000
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 14% N: W 29%
W: w 44% N: x 4%
W: w 45% N: W 13%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
34
NORTH BEACH
NORT H BEACH: CON D OS North Beach runs from 63rd to 87th street in Miami Beach. Condos and homes are situated in an area surrounded by water, with the Atlantic to the east and the Intracoastal to the west. Due to this, prices have consistently risen over the past 4 years and there is no doubt this will continue in 2014.
Avg. Sale Price
waterfront (W)
2013
W: $510,753
2012
300
W: $484,252
$600 $497
$500
$441
250
$400
$344
$325
200
2011
W: $377,759
2010
$300
W: $336,555
150
$200 100
$100
0
2012 - 2013 % CHANGE
26
142
258
276
2010
2011
2012
2013
$0
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 5%
W: w 7%
W: W 13%
BAL HARB OU R: SI N G L E-FA MI LY H OMES Luxurious mansions and mid-century modern properties line the Intracoastal Waterways, where the average price per square foot has been dramatically increasing since 2011. Prices for non waterfront homes have increased modestly, but the desirability of this area can’t be denied.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2013
15
$856
$900
$792
W: $3,550,000 N: $1,390,000
$800
2012
W: $5,637,500 N: $1,580,963
2011
$700
W: $2,204,000 N: $1,316,611
10
$600
$493
$500 $400 5
$430
$406
$406
$300 $200
2010
$256
W: NA N: $792,750
21
0
4
0
2010
2012 - 2013 % CHANGE
6 3
9
2011
2
13
2012
$100
16 5
10
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: x 37% N: x 12%
W: w 150% N: x 23%
W: w 8% N: w 6%
W: Waterfront N: Non-waterfront
35
NORTH BEACH/THE ISLANDS
BAL HA R BOUR: CON D OS As Miami Beach begins to develop, Bal Harbour, which sits just North, is becoming favorable to more than just the out-of-towners. The trend in Bal Harbour shows consistent increases in the number of transactions and prices since 2010, indicating genuine growth for the beach-side community. waterfront (W)
Avg. Sale Price
non-waterfront (N)
250
2013
$400
$454 $422
150
2012
200
W: $892,679 N: $220,133 W: $693,686 N: $160,585
2011
$500
$551
W: $636,545 N: $143,413
2010
$600
W: $465,194 N: $123,170
$300
$324
100
$188
$200
$153
$148 $117
50
$100 21
0
51
27
2010
6 112
26
2011
189
56
2012
16 249
58
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 29% N: W 37%
W: w 32% N: W 4%
W: w 21% N: W 23%
2012 - 2013 % CHANGE
FISHE R I SL A N D : CON D OS Fisher Island has been dubbed one of the most exclusive communities in the US, with one of the highest incomes per capita. It includes a hotel, private marina and golf course, with access only by boat or ferry. Already known as a highly priced area, prices have increased further in recent years.
Avg. Sale Price
waterfront (W) 100
$600 $592
$500
2013
$700
$777
W: $2,797,833
2012
$767
75
$800
W: $2,230,244
2011
$874
W: $2,751,313
2010
$900
W: $1,241,000
50
$400 $300 25
$200 $100
0
20
48
82
78
2010
2011
2012
2013
$0
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 25%
W: x 5%
W: w 12%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
36
THE ISLANDS
PA LM / HIB ISC U S / STA R I SL A N D S: SF H OMES Palm, Star, and Hibiscus Islands are highly exclusive islands off the MacArthur Causeway in Miami Beach. Excessively large homes in these areas drive the average price per square foot down, but average sale prices are over $5 million for the homes along the waterfront.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2012
2013
15
$1,200
$1,085
W: $5,391,675 N: $1,160,000
$992
W: $7,515,250 N: $1,294,500
$900
$760
$733
10
2011
$600 $413
W: $3,829,667 N: $997,058
$355
5
$278
$263
2010
$300
W: $2,691,667 N: $1,549,500 0
3
2
9
4
2010
2012 - 2013 % CHANGE
12
2011
6
10
2012
5
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: X 28% N: x 10%
W: X 17% N: x 17%
W: X 9% N: x 33%
THE VE NE TIAN ISL A N D S: SI N G L E-FA MI LY H OMES Prime real estate in the form of condos and homes on Biscayne Bay and along the Venetian Causeway can be found on the Venetian Islands. Homes have drastically increased in price over the years largely due to its ideal location between Downtown Miami and South Beach, both thriving areas.
Avg. Sale Price 2013
W: $5,068,333 N: $1,245,462
non-waterfront (N)
waterfront (W)
25
$1,200 $959
20
$900
2011
2012
$775
W: $3,589,594 N: $1,170,400
15
W: $1,741,667 N: $806,667
0
$600
$400
10
$300
$177
5
2010
$505
$484
W: $2,933,125 N: $1,080,625
3
2010
2012 - 2013 % CHANGE
$586
$574
3
8
8
2011
16
15
2012
15
20
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 41% N: W 6%
W: X 6% N: W 33%
W: w 24% N: W 4%
W: Waterfront N: Non-waterfront
37
THE ISLANDS
SUNSE T ISL ANDS: SI N G L E-FA MI LY H OMES Homes on the Sunset Islands maintain a small-community atmosphere. Ideal location, stunning views and waterfront access make these residences highly sought after, resulting in record-breaking sales. This area has shown great price growth over the past years.
Avg. Sale Price
non-waterfront (N)
waterfront (W) 20
2013
$448
W: $6,626,541 N: $1,628,500 W: $4,391,667 N: $1,320,000 W: $1,600,000 N: $1,600,833
$900
$526
$521
10
2012
$813
15
W: $6,875,889 N: $1,674,125
2011
$1,005
$979
2010
$1,200
$600
$439
5
$300 $168 1
3
0
4
3
2010
6
17
2011
9
2012
8
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 4% N: W 3%
W: x 47% N: W 33%
W: w 3% N: W 1%
2012 - 2013 % CHANGE
L A GORC E : SI N G L E-FA MI LY H OMES A hidden gem of Miami Beach, La Gorce Island lies North of Pine Tree Drive and at the end of North Bay Road. Its entrance is guard-gated and patrolled by land and sea 24 hours a day. This exclusivity comes at a price, with 2 sales in 2013 averaging over $21 million.
Avg. Sale Price
non-waterfront (N)
waterfront (W) 5
$850 $722
$600
0
$526
$513
2
5
2011
1
W: $5,750,000 N: $2,187,500 W: $9,050,000 N: $2,335,200 W: NA N: NA
$900
2
1
2013
$1,200 3
2012
$1,500
2011
$1,692
4
W: $21,875,000 N: $2,177,500
2010
$1,800
$467 2
2
2012
$300 2
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 280% N: 0%
W: w 100% N: 0%
W: w 134% N: x 11%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
38
THE ISLANDS
INDIAN C RE E K : SI N G L E-FA MI LY H OMES With about 40 residences, a premiere golf course and the exclusive Indian Creek Country Club, the island of Indian Creek offers its residents the best in luxury living. Prices are some of the highest in South Florida, yet being such a small and exclusive area, there were no transactions in 2013.
Avg. Sale Price
waterfront (W)
2013
5
$2,000
W: NA 4
2012
$1,179
$1,500 $1,853
W: $34,651,667
3
2010
2011
$1,000 2
W: NA
$500
1
W: $9,300,000 0
1
2010
2012 - 2013 % CHANGE
0
3
0
2011
2012
2013
$0
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: NA
W: NA
W: NA
BAY HARB OR: SI N G L E-FA MI LY H OMES Bay Harbor Islands connect the mainland with Bal Harbour, thus providing island living with the conveniences of a bustling city. With just a few homes on the market each year, prices are always on the high side, but 2013 was a winner, with a median price of $4,550,000 for the five homes sold.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2013 2012
W: $2,204,000 N: $1,316,611
2010
W: $1,767,500 N: $1,580,963
2011
15
W: $6,210,000 N: $1,390,000
$1,400
$1,000
10
$800 $519
$493
$600
$356
5
$400 $430
$406
$406
W: $800,000 N: $792,750
$200
$256
0
1
4
2010
2012 - 2013 % CHANGE
$1,200
$1,070
9
3
2011
13
2
2012
5
10
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 251% N: x 12%
W: w 150% N: x 23%
W: w 106% N: W 6%
W: Waterfront N: Non-waterfront
Indian Creek
40
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.
41
GOLDEN BEACH/SUNNY ISLES
GOLDE N B E AC H: SI N G L E-FA MI LY H OMES Golden Beach is home to oceanfront estates on the Atlantic Ocean, a rarity in South Florida. With restricted commercial and high-rise development, homes provide the intimacy of a small community next to a large city —a clear indication as to why prices are on the upswing for Golden Beach.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
$900 $800 $700
10
$600
2013
$847 $765
W: $4,733,958 N: $1,307,000
2012
$913
W: $5,132,600 N: $1,205,833
2011
$1,000
W: $2,917,500 N: $692,000
2010
15
W: $3,901,000 N: $567,500
$500 $302
$400
5
$393
$300 $200
$225
$218 2
2
0
2010
6 12
21 $223
5
2011
5
$100 6
2012
12
5
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: x 8% N: W 8%
W: w 140% N: x 17%
W: w 11% N: W 76%
2012 - 2013 % CHANGE
SUNNY I SL ES: CON D OS Sunny Isles, once lined with small hotels, is now predominantly composed of luxury, high-rise condos directly on the beach, with views of the intracoastal and the ocean. From 76 transactions in 2010 to 400 the following year and over 750 in 2013, it is evident that this area is on the rise.
Avg. Sale Price
waterfront (W) 1,000
$350 $340
$354
$300
600
$250 $200
400
$150
W: $731,979
W: $636,968
W: $531,374
W: $546,310
$100
200
$50 0
2013
800
$400
2012
$433
2011
$421
2010
$450
76
397
817
751
2010
2011
2012
2013
$0
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 15%
W: x 8%
W: w 3%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
42
AV E N T U R A
AVE NTURA: SI N G L E-FA MI LY H OMES Aventura’s central location and endless amenities make it a great option for international and local buyers looking for spacious single-family homes. Although Aventura is predominantly composed of condos, the single-family market has grown with prices of around $300 per square foot.
Avg. Sale Price 2013
W: $1,103,275 N: $747,391
2012
W: $996,700 N: $656,045
non-waterfront (N)
waterfront (W)
30
$375
$400
$332
$350
$307
$300 $239
20
2011 2010
W: $1,014,351 N: $598,333
$238
$233
$230
W: $625,700 N: $722,250
$250
$266
$200 $150
10
$100
0
19
12
2010
2012 - 2013 % CHANGE
$50
21 6 10
8
2011
20
15
2012
30
18
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 14% N: W 11%
W: w 50% N: W 20%
W: w 13% N: W 12%
AVE NTUR A : CON D OS Transplanted from major international metropolitan areas, most of Aventura’s residents prefer the high-rise lifestyle, therefore causing the spike in the number of transactions over the last 2 years.
Avg. Sale Price
waterfront (W)
2012
2013
1,000
W: $530,460
$300
$277
800 $227
W: $390,097
600
$219
$233
$250 $200
2011
$150 400
W: $356,359
$100
2010
200
$50
W: $377,961 0
2012 - 2013 % CHANGE
475
465
959
937
2010
2011
2012
2013
$0
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 36%
W: X 2%
W: w 19%
W: Waterfront N: Non-waterfront
Williams Island
44
Picture provided by Susan Rindley.
BROWARD COUNT Y FORT LAUDERDALE / HOLLYWOOD & HALLANDALE BEACHES / HILLSBORO Long known as the Venice of America and the Yachting Capital of the World due to its waterfront living and abundance of wealth, Fort Lauderdale has proven to be a city on the rise. A bustling downtown, beautiful beaches and quiet residential neighborhoods all combine to make this city a beautiful place to call home. With prices moderately behind those of Miami neighborhoods, Fort Lauderdale is becoming the next great investment opportunity with beautiful new developments including Privage along the intracoastal.
45
FORT LAUDERDALE
FORT L AU DE RDA L E: SI N G L E-FA MI LY H OMES Although just 25 miles north of Miami, Fort Lauderdale feels a world away with less Latin flair and a greater feeling of classic Americana. Fort Lauderdale’s price per square foot is often more favorable than Miami while offering the same amenities. 2013 saw increases throughout from 2012. waterfront (W)
Avg. Sale Price
non-waterfront (N)
1,500
$128
$150
500
$158
248
6 273
911
2010
950
$50
358
2011
W: $1,115,176 N: $197,444 W: $1,036,301 N: $199,269
$100
$66
21
0
2013
$200
$161
$100
W: $1,104,812 N: $237,162
$250
$211
1,000
W: $1,234,869 N: $276,728
2012
$300
$316
2011
$346
2010
$350
1,242
2012
16 406
1,403
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 12% N: W 17%
W: w 13% N: W 13%
W: w 31% N: W 139%
2012 - 2013 % CHANGE
FORT L AU D ERDA L E: CON D OS Waterfront condos in 2013 sold at a median price of $331,000, while non-waterfront condos sold for a median price of $130,000. As Fort Lauderdale continues to develop, this area will become the next South Florida hotspot, which will drive prices up. Now is the time to start investing. waterfront (W)
Avg. Sale Price
non-waterfront (N)
1,200
2013
$311
W: $429,006 N: $226,481
2012
$300
$327
W: $374,302 N: $189,126
2011
$328
W: $334,942 N: $169,182
2010
$350
W: $365,748 N: $168,633
$302
$250
800 $187
$202 $179
$200 $154
$150 400
$100 $50
21
0
672
652
2010
6 696
608
2011
1,006
894
2012
16 1,107
978
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 15% N: W 20%
W: w 10% N: W 9%
W: w 8% N: W 31%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
46
FORT LAUDERDALE
L AS OL AS ISLES: SI N G L E-FA MI LY H OMES Las Olas Isles stretches out along East Las Olas Boulevard from the Intracoastal to its Western canal. While the majority of single-family homes in this area are waterfront, the prime location has drastically driven up prices for the non-waterfront properties as well, specifically in 2013.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
W: $2,045,586 N: $763,333 W: $2,017,192 N: $818,000
2010
2012
W: $2,010,327 N: $1,300,000
2011
2013
70
$500 $412
$488
60
$400 50
$391
40
$300
$322
30
$200
$219
20 $100
W: $2,140,150 N: NA
10 0
26
0
45
2010
2012 - 2013 % CHANGE
$411
$385
5
3
57
2011
65
2012
1
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: X 2% N: W 70%
W: w 14% N: x 67%
W: 0% N: W 21%
H ARBOR BE AC H: SI N G L E-FA MI LY H OMES Harbor Beach is a luxury community located in Southeast Fort Lauderdale. Residents enjoy waterfront properties with deep-water dockage and gorgeous dry lots. Harbor Beach has been able to earn higher prices per square foot than some of the other Fort Lauderdale communities.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2013
20
$800
W: $3,917,183 N: $736,071
$700 $580
$577
2012
15
W: $3,794,375 N: $845,286
$500 $360
2011
10
W: $2,293,182 N: $1,040,000
2010
$400 $300
$289
5
W: $2,443,750 N: $791,540
$272
$268 21 $161
0
0 5
8
2010
2012 - 2013 % CHANGE
$600
$516
6 11
4
2011
8
7
2012
$200 $100
16 15
7
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 3% N: x 13%
W: w 88% N: 0%
W: x 11% N: w 66%
W: Waterfront N: Non-waterfront
47
FORT LAUDERDALE
FO RT L AU DE RDALE BEACH: SI N G L E-FA MI LY H OME S Fort Lauderdale Beach may be one of the most famous beach areas in the world. While only a few transactions have occurred, median prices for waterfront properties in 2013 were over $2.8 million and about $1.5 million for non-waterfront properties.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
5
2013 2012
W: NA N: $1,800,000
2011
$1,000
4
W: $2,608,333 N: $1,888,580
W: $4,375,000 N: $893,333
2010
$1,200
W: $3,925,000 N: $499,900
$1,012 $766
$800
3 $718
$666
$600
$644
2
$400 $395
1
0
$200
$302 6 2
01
2
2010
3
2011
0
1
2012
16 3
4
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
N: W 5%
N: W 300%
N: x 3%
2012 - 2013 % CHANGE
FORT L AU DE RDA L E BEACH: CON D OS In the 1990s, Fort Lauderdale Beach became a very sought-after residential area. This has resonated with waterfront condo transactions over the past four years, all earning between $332 and $435 per square foot. Non-waterfront condos are few, yet on high demand for their proximity to the beach.
Avg. Sale Price
non-waterfront (N)
2013
$800 60
W: $482,513 N: $363,667
2012
$,1000
80
W: $374,773 N: $319,750
2011
$1,200
W: $388,463 N: $270,000
2010
waterfront (W)
100
W: $387,866 N: NA
$600 40
$435
$382
$332
$413
$400 $367
20
$200
$270
0
50
0
2010
6 42
$220 1
2011
0 63
4
2012
94
6
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 29% N: w 14%
W: w 49% N: w 50%
W: x 5% N: w 67%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
48
FORT LAUDERDALE
RIO VISTA: S I N G L E-FA MI LY H OMES These neighborhoods offer single-family homes with historic architecture and tight-knit communities. The favorability of this area is evidenced in the steady rise of prices for non-waterfront properties since 2011. Waterfront homes dropped in 2012, but show regained strength in 2013.
Avg. Sale Price
non-waterfront (N)
waterfront (W)
2013
W: $1,529,017 N: $710,618
2012
50
W: $1,828,233 N: $670,395
$600 $578
$500
40 $490
$489
$400
$445
30
$300
2011
W: $1,382,262 N: $523,737
2010
$330
W: $2,150,375 N: $533,775
20
$272 $240
10
0
$100 0 4
6
2010
2012 - 2013 % CHANGE
$200
$228
13
19
2011
15
42
2012
29
38
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: X 16% N: W 6%
W: w 93% N: x 10%
W: w 10% N: W 21%
VICTORIA PARK / SUNRISE KEY / COLEE HAMMOCK: SF HOMES These quaint neighborhoods along charming canals offer a suburban feeling within minutes of Downtown Fort Lauderdale. The majority of transactions in these neighborhoods were for the non-waterfront homes which have witnessed steady increases of all stats since 2010.
Avg. Sale Price
waterfront (W)
2012
W: $1,742,522 N: $536,906
2011
W: $2,330,972 N: $588,606
W: $1,822,125 N: $391,710
2010
2013
100
W: $1,627,500 N: $344,333
non-waterfront (N) $500 $464
80
$400
$434 $382
60
$300
$336 $270
$249
40
$200
$217
$198
$100
20
0
2
0 18
2010
2012 - 2013 % CHANGE
20
36
2011
23
70
2012
18
96
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 34% N: w 10%
W: X 22% N: W 37%
W: x 18% N: w 8%
W: Waterfront N: Non-waterfront
49
FORT LAUDERDALE
BAY COLONY: SI N G L E-FA MI LY H OMES Bay Colony’s dockage starts at 100 feet, making it port to some of the city’s most coveted yachts. While average prices have fluctuated over the past years, the number of transactions has increased since 2010 and the average days on market has dropped steadily.
Avg. Sale Price
waterfront (W) 12
6
W: $1,665,000
W: $2,615,000
W: $1,255,000
$300
$333 $277
4
$200
2
$100 4
3
10
7
2010
2011
2012
2013
0
2013
$400
8
W: $2,754,286
2012
$500
$444
$565
2011
10
2010
$600
$0
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 65%
W: x 30%
W: w 60%
2012 - 2013 % CHANGE
WESTON: SINGLE-FAMILY HOMES Weston, ranked as the best place to live in Florida by Money Magazine, saw the highest price per square foot, number of sales, and average sale price in the last four years. While 2011 and 2012 show a downtrend, this is undoubtedly over for the community and recovery is well underway. waterfront (W)
Avg. Sale Price
non-waterfront (N)
500
$168
200
$200
$167
$159
$152
$156
100
$50
2010
W: $559,888 N: $383,909 W: $669,674 N: $410,586
$150
$171
$100
0 106
2013
300
73
W: $561,542 N: $389,175
$205
$196
0
2012
400
W: $652,213 N: $441,611
2011
$250
2010
$300
189
257
2011
278
441
2012
292
451
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 16% N: W 13%
W: w 5% N: W 2%
W: w 29% N: W 10%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
50
FORT LAUDERDALE
CO RAL RIDGE / THE L A N D I N G S: SI N G L E-FA MI LY H O M E S Coral Ridge is a large neighborhood along the intracoastal, within less than a mile from the beach. The Landings is a boating community minutes from the golf course and beaches. It is the only gated waterfront neighborhood in NE Fort Lauderdale, making it a prestigious residential community.
Avg. Sale Price
waterfront (W)
non-waterfront (N)
2013
80
$400
W: $1,016,674 N: $602,458
$303
$296
$286
2012
60
$300
W: $983,848 N: $567,948
$292
$222
2011
W: $830,929 N: $597,765
2010
40
W: $1,163,647 N: $693,179
$200
$219
$199
$201
20
0
$100
14
32
6 7
2010
2012 - 2013 % CHANGE
34
41
2011
54
16 42
2012
48
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 3% N: w 6%
W: w 2% N: x 11%
W: w 3% N: w 1%
L AUDE RDALE BY T H E SEA : SI N G L E-FA MI LY H OME S Sitting on a barrier island with Fort Lauderdale a short distance to the East, Lauderdale by the Sea real estate offers plenty of charm and easy island living. The homes on this 1.5 square mile town are typically spacious, which helps retain a moderate average price per square foot.
Avg. Sale Price
waterfront (W)
non-waterfront (N)
2013
20
$500 $413
W: $1,033,833 N: $515,375
$391
$400
2012
15
$332 $303
W: $925,897 N: $390,689
$300
2011
10 $200
W: $1,219,639 N: $358,489
$213
2010
5
W: $1,172,982 N: $400,000 0
$168
10
2010
2012 - 2013 % CHANGE
$206
$149
2
6 10
$100 9
2011
20
9
2012
16 18
18
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 12% N: W 32%
W: x 10% N: W 100%
W: x 15% N: x 3%
W: Waterfront N: Non-waterfront
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H O L LY W O O D / H A L L A N D A L E
HOLLYWOOD & HALL ANDALE BEACHES: SINGLE-FAMILY HOMES Hollywood and Hallandale Beach are nestled between Miami and Fort Lauderdale, offering the best of both worlds. Real estate in Hallandale Beach suits diverse budgets, ranging from more modest condo options to world-class oceanfront condominiums and luxurious waterfront homes. waterfront (W)
40
Avg. Sale Price
non-waterfront (N)
2013
W: $949,899 N: $128,234 W: $696,013 N: $201,080 W: $555,000 N: $79,533
$300
$251
$238
$250
$207
20
$200 $150
$119 $90
10
0
2012
$362
30
W: $1,283,542 N: $115,708
2011
$350
2010
$400
$69
$63
3
3
2010
6 12
20
2011
24
21
2012
$100 $50
16 18
32
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 35% N: x 10%
W: X 14% N: W 33%
W: w 75% N: x 23%
2012 - 2013 % CHANGE
HO L LY WOOD & HAL L A N DA L E BEACH ES: CON D O S While trends for single-family homes have been a bit disparate depending on property type (waterfront or non-waterfront), condos have followed similar trend lines since 2010 with recent upswings in 2013.
Avg. Sale Price
non-waterfront (N)
$300
600
$200
$215
400
$196
$181
$150 $100
200
$50 158
W: $362,198 N: $158,181 W: $302,621 N: $147,905 W: $281,814 N: $146,200 W: $346,738 N: $125,316
$250
$267
0
2013
$287 $267
2012
$295
$350
2011
$322
2010
waterfront (W) 800
19
2010
6 453
60
2011
766
168
2012
16 725
123
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 20% N: w 7%
W: X 5% N: x 27%
W: w 12% N: w 8%
2012 - 2013 % CHANGE
W: Waterfront N: Non-waterfront
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HILLSBORO
HILLSB ORO BE ACH: SI N G L E-FA MI LY H OMES Known simply as Millionaire’s Mile, this community offers some of the most prestigious properties in South Florida based on its geography alone. With large lots, spacious interiors and great views, these rare homes are exclusive and not easy to come by with 13 transactions in the past 4 years.
Avg. Sale Price
waterfront (W)
2013
6
W: $5,631,250
$1,400
$1,296
$1,200
5
2012
$919
W: $13,075,000
$800
2010
2011
3
W: $5,950,000
$773
$743
$600
2
$400
1
W: $6,430,000
$200 5
2
2
4
2010
2011
2012
2013
0
2012 - 2013 % CHANGE
$1,000
4
$0
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: X 57%
W: w 100%
W: X 29%
L I GHTHOU SE POI N T: SI N G L E-FA MI LY H OMES Bordered by both the Intracoastal Waterways and the ocean, Lighthouse Point is home to gorgeous and manicured parks. While prices have been somewhat steady over the past four years – within a $100 range for both types of home – there was an increase for both sectors in 2013.
Avg. Sale Price
waterfront (W)
2013
70
W: $1,361,280 N: $353,576
$305
$295
2012
40
2011
$165
2010
$300
$260
50
$200
$161
$154
30
W: $1,072,881 N: $327,692
$126
20
W: $875,421 N: $366,608
$100
10 0
0 66
14
2010
2012 - 2013 % CHANGE
$400
$353
60
W: $1,064,235 N: $285,480
non-waterfront (N)
37
13
2011
46
35
2012
46
52
$0
2013
AVG. SALE PRICE
# TRANSACTIONS
AVG. $/SF
W: w 28% N: w 24%
W: 0% N: W 49%
W: w 20% N: w 28%
W: Waterfront N: Non-waterfront
Hillsboro Beach
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PRECONSTRUCTION DEVELOPMENTS Area
Development
Address
# Units Unit Sizes*
Completion
Downtown
One Thousand Museum
1000 Biscayne Boulevard
83
4,600 - 9,800
2016
Downtown
ICON Bay
460 NE 28 Street
300
920 - 1,498
2014
Downtown
One Bayfront Plaza
100 S Biscayne Boulevard
700
TBD
2018
Downtown
Bay House
600 NE 27 Street
164
1601-1725
2014
Downtown
Paraiso Bay
600 NE 31 Street
700
1,055 - 2,141
2017
Downtown
Baltus House
4300 Biscayne Boulevard
167
520 - 1,720
2015
Downtown
Biscayne Beach
701 NE 29 Street
399
885 - 3,789
2016
Downtown
Centro
151 SE 1 Street
350
500 - 1,131
2015
Brickell
1010 Brickell
1010 Brickell Avenue
352
850 - 1,922
2016
Brickell
Brickell House
1300 Brickell Bay Drive
374
420 - 1,775
2014
Brickell
mybrickell
30 SE 6 Street
192
600 - 1,220
2014
Brickell
NINE
999 SW 1 Avenue
390
744 - 2,098
2014
Brickell
Millecento
1100 S Miami Avenue
382
578 - 1,462
2014
Brickell
Brickell City Centre
6/7/8 Street & S Miami Ave.
820
TBD
2015
Brickell
SLS Brickell
1300 S Miami Avenue
450
717 - 1,505
2014
Brickell
Echo Brickell
1451 Brickell Avenue
180
760 - 4,300
2016
Brickell
Bond Brickell
1080 Brickell Avenue
323
558 - 2,100
2015
Brickell
Le Parc
1600 SW 1 Avenue
128
576 - 1,968
2015
Key Biscayne
Oceana
350 Ocean Drive
154
1,800 - 7,500
2015
Coconut Grove
Grove at Grand Bay
2675 S Bayshore Drive
95
1,244 - 5,670
2014
Miami Beach
Faena House
3315 Collins Avenue
47
1,307 - 4,730
2014
Miami Beach
Beach House 8
3651 Collins Avenue
8
3,783 - 5,242
2015
Miami Beach
Edition
2901 Collins Avenue
26
1,171 - 5,246
2014
Miami Beach
1 Hotel & Residences
2399 Collins Avenue
163
830 - 4,000
2014
Miami Beach
Versailles on the Ocean
3425 Collins Avenue
54
TBD
2014
Miami Beach
Glass Miami Beach
120 Ocean Drive
10
1,928 - 3,374
2015
Miami Beach
Palau at Sunset Harbour
1201 20 Street
45
780 - 2,045
2014
Miami Beach
Ritz-Carlton Residences
4701 N Meridian Avenue
126
1,749 - 6,533
2016
Miami Beach
The Bath Club Estates
6747 Collins Avenue
13
5,620 - 10,200 2015
55
Area
Development
Address
# Units Unit Sizes*
Completion
Miami Beach
Marea
801 S Pointe Drive
30
1,525 - 2,336
2015
Miami Beach
One Ocean
1 Ocean Drive
50
1,886 - 3,847
2014
Miami Beach
321 Ocean
321 Ocean Drive
21
1,877 - 6,807
2015
Mid Beach
Ocean Seven
9501 Collins Avenue
7
4,012 - 4,058
2014
Mid Beach
Peloro Miami Beach
6610 Indian Creek Drive
113
635 - 2,268
2014
Mid Beach
Chateau Ocean
9365 Collins Avenue
60
3,326 - 10,000 2015
Mid Beach
Surfclub
9011 Collins Avenue
150
1,200 - 8,000
2015
Mid Beach
Oceana Bal Harbour
10201 Collins Avenue
239
1,323 - 4,200
2016
Bay Harbor
Kai at Bay Harbor
9940 W Bay Harbor Drive
58
1,100 - 1,800
2015
Bay Harbor
Villas at Bay Harbor
1150 98 Street
18
2,550 - 2,650
NA
Sunny Isles
Porsche Design Tower
18555 Collins Avenue
132
3,415 - 6,684
2016
Sunny Isles
Chateau Beach
17475 Collins Avenue
84
1,557 - 4,230
2014
Sunny Isles
Jade Signature
16901 Collins Avenue
192
1,378 - 4,953
2016
Sunny Isles
Mansions at Aqualina
17749 Collins Avenue
79
4,800 - 16,000 2015
Sunny Isles
400 Sunny Isles
400 Sunny Isles Boulevard
230
1,206 - 1,872
2014
Sunny Isles
Muse
17141 Collins Avenue
68
2,360 - 5,800
2017
Aventura
PrivĂŠ
5000 Island Estates Drive
160
2,585 - 9,000
2015
Aventura
Marina Palms
17111 Biscayne Boulevard
234
1,821 - 2,600
2016
Aventura
Echo Aventura
3250 NE 188 Street
190
1,500 - 4,020
2015
Hollywood
Beachwalk
2600 E Hallandale Beach Blvd 300
1,087 - 1,853
2015
Hollywood
Positano - Phase II
3415 N Ocean Drive
17
3,599 - 6,659
2014
Hollywood
Sage Beach
2101 S Surf Road
24
2,013 - 2,826
2015
Fort Lauderdale
Privage
325 N Birch Road
22
3,000 - 4,000
2015
Fort Lauderdale
Adagio on the Bay
1110 Seminole Drive
12
3,285 - 3,415
2014
Fort Lauderdale
Aquavita Las Olas
60/70/80 Hendricks Isle
22
2,644 - 5,889
2014
Fort Lauderdale
Cymbrinas Cay
151 Isle of Venice Drive
8
2,500 - 3,000
TBD
Fort Lauderdale
Paramount
700 N Atlantic Boulevard
95
1,930 - 3,477
2016
Fort Lauderdale
Riva
1180 N Federal Highway
100
1,500 - 2,500
2016
Fort Lauderdale
Vela Vista
1532 SE 12 Street
10
1,902 - 4,062
2014
* Unit sizes in square feet
For more information, please visit onesothebysrealty.com/new-developments or email us at developments@onesothebysrealty.com
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I N T E R N AT I O N A L S P OT L I G H T MIAMI AS A GLOBAL MARKET As a truly international city with world-class entertainment, fine dining and incredible value, it is no wonder Miami has become a city to watch for investors around the world. Miami is on the rise with more than 80 condo towers and prime retail and commercial spaces debuting over the next few years. With the expectation of a 13.4% increase in the city’s real estate market, Miami comes in as the leader in all real estate markets according to the experts at moneyjournal.com.
How many luxury square feet does $1M buy? * 800 700 600 500 400 300 200 100 0
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*2014 Global Market Report, Knight Frank. Miami range based on South Beach value ** Miami International Council
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WHERE ARE BUYERS COMING FROM?**
57
FORT L AUDERDALE AS A GLOBAL MARKET Fort Lauderdale has been dubbed “the Venice of America” for its amazing canals and waterfront living. It has become a prime destination for mega-yacht owners and boating connoisseurs from around the world, drawing a great deal of attention from wealthy buyers and tourists alike. Fort Lauderdale was ranked the 4th most popular destination from home buyers by the US News & World Report.
Fort Lauderdale Annual International Visitors (2.8 million total): 1.2M 1M 800K 600K 400K 200K 0 Canada
LatAm
Europe
OVERALL MOST SEARCHED U.S. CITIES BY NON-U.S. CONSUMERS 1. Los Angeles, CA 2. New York, NY 3. Miami, FL 4. Las Vegas, NV 5. Detroit, MI Realtor.com in October, 2013.
6. Orlando, FL 7. Houston, TX 8. Fort Lauderdale, FL 9. San Francisco, CA 10. Atlanta, GA
Scandinavia
UK
Other
TOP FLORIDA CITIES FOR INTERNATIONAL BUYERS #1 Miami - Miami Beach: 31.3% #2 Fort Lauderdale: 11.6% #3 Orlando - Kissimmee: 8.9% #4 Bradenton - Sarasota - Venice: 8.1% #5 Palm Beach: 6.5% FloridaRealtors.org
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ONE Sotheby’s International Realty, founded in 2008, specializes in the sale of luxury properties in Miami and Fort Lauderdale, where the brokerage is already recognized as a market share leader. Building on a reputation for emphasizing experience and passion to its customers, qualities that define the Sotheby’s International Realty© brand, the company has grown to 8 offices and over 350 associates. Partnerships with more than 750 affiliate offices in more than 55 countries give ONE Sotheby’s International Realty an unparalleled edge in locating the best properties and investors. Since its debut in 1744, Sotheby’s Auction House has evolved into the luxury go-to for prestigious possessions from jewelry to antiques. Its name translates around the world. Sotheby’s counts nearly three quarters of Forbes’s 100 richest people, more than half of its richest Americans and all of its billionaire art collectors among its clientele. Through this rare level of brand recognition and global footprint, ONE Sotheby’s International Realty is able to match the most coveted properties with international buyers.
Sotheby’s International Realty | National Affiliates by State | 445 offices - 39 states Arizona California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia
Hawaii Idaho Illinois Indiana Kentucky Louisiana Maine Maryland
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Sotheby’s International Realty | International Affiliates by Country | 318 offices - 55 countries Anguilla Argentina Aruba Australia Bahamas Barbados Belgium Bermuda Brazil Canada Cayman Islands
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©MMXIV ONE Sotheby’s International Realty, licensed real estate broker. Equal Housing Opportunity. Each Office Independently Owned And Operated. All statistics provided by MLS unless stated otherwise. All information is believed to be correct.
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ONE Sotheby’s International Realty | Locations
1. Fort Lauderdale 401 East Las Olas Boulevard, Suite 100 Fort Lauderdale, Florida 33301 954.522.2831
2. Sunny Isles
1
3873 Sunny Isles Boulevard N Miami Beach, Florida 33160 305.336.0457
3. Bay Harbor 1047 Kane Concourse Bay Harbor, Florida 33154 305.666.0562
4. Miami Beach - Ocean Drive
2 3
1451 Ocean Drive Miami Beach, Florida 33139 305.673.4808
5. Miami Beach - South of Fifth
4 6 8
5 7
119 Washington Avenue, Suite 102 Miami Beach, Florida 33139 305.538.9711
6. Brickell 1000 Brickell Avenue #315 Miami, Florida 33131 305.779.2430
7. Key Biscayne 260 Crandon Boulevard, #C42 Key Biscayne, Florida 33149 305.365.2811
8. Coral Gables 1430 S Dixie Highway, Suite 110 Coral Gables, Florida 33146 305.666.0562
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