2016 Q2 Condo Update

2016 Q2 Condo Update PAUL HWANG | RANKED #1 IN SOUTH BEACH 415.216.8746 | PAUL@SKYBOXREALTY.COM

MILLENNIUM TOWER | 14 - 15

THE INFINITY | 8 - 9

LUMINA | 22 - 23

THE METROPOLITAN | 10 - 11 THE WATERMARK | 18 - 19 THE HARRISON | 24 - 25 ONE RINCON HILL | 12 - 13 ONE HAWTHORNE | 16 - 17

72 TOWNSEND | 26 - 27

5

Dear Neighbors, It was a strange Q2. The Warriors won 73 games, but lost in the NBA Finals, Trump or Hillary may become President, and the UK decided to get a divorce from the European Union.

At the end of Q2 there were 59 units for sale per MLS, and 25 Pending in South Beach. 52 units Sold in Q2, an average of 17.3 units sold per month, which would imply 3.4 months of inventory currently on the market (Active/Solds per Month).

It is also worth noting that there were 32 Withdrawn and Cancelled units during this period, diverging disfavorably from Q2 2015 which saw 76 transactions completed and only 13 Withdrawn / Cancelled. Average days on the market for Sold properties increased to 47 days in Q2 2016 from 35 days in Q2 2015. Albeit year over year price per square foot did increase to $1212/sf in 2016 from $1179/sf in 2015.

There is a large shadow inventory of new construction that seems to be stalling out, with several high profile developers beginning to make concessions.

What does this mean? Will there be an economic Apocalypse? No. More likely than not it means a return to a normal market. On the bright side, the uncertainty should give the Fed an excuse to delay quantitative easing.

What does Paul see for the remainder of 2016? An opportunity to enter the market under compelling conditions for educated buyers.

Best Regards, Paul Hwang | Principal Broker Ranked #1 in South Beach 415.216.8746 This document has been prepared by Skybox Realty for advertising and general information only.

Skybox Realty makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Skybox Realty excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

SOUTH BEACH

2016 Q2 FAST FACTS # SOLD

AVG $/SF

AVG SALE PRICE

52 $1,212 $1,412,519 CUMULATIVE $/SF DATA FOR PAST YEAR

$1300 $1200 $1100 $1000

2015 Q2

2015 Q3

2015 Q4

2016 Q1

7

YERBA BUENA

2016 Q2 FAST FACTS # SOLD

AVG $/SF

AVG SALE PRICE

22 $1,423 $1,826,114 CUMULATIVE $/SF DATA FOR PAST YEAR $1400 $1300 $1200 2015 Q2

2015 Q3

2015 Q4

2016 Q1

$1100

All Data From SFARMLS

301 / 333 MAIN | 318 / 338 SPEAR

THE INFINITY SOLD ACTIVE ACTIVE CONTINGENT PENDING D37E | $2,750,000 (2BR) $2052/sf D37F | $2,120,000 (3BR) $1313/sf D36C | $5,250,000 (3BR) $3031/sf D35E | $2,699,000 (2BR) $2014/sf

D31B | $3,275,000 (3BR) $2032/sf D30H | $1,999,999 (2BR) $1512/sf

D20C | $1,495,000 (1BR) $1975/sf

D17B | $2,600,000 (2BR) $1965/sf D15H | $1,595,000 (2BR) $1206/sf D14B | $2,095,000 (2BR) $1569/sf

D10G | $949,000 (2BR) $1180/sf

D6E | $1,325,000 (2BR) $1155/sf D5B | $1,495,000 (2BR) $1129/sf A4C | $998,000 (1BR) $1226/sf

# SOLD

10

AVG $/SF

AVG SALE PRICE

$1,601 $2,126,600

AVG DOM

55

COMPARED TO 2015 Q2 7

$1,361

$1,406,429

28

B37B | $7,995,000 (3BR) $2364/sf

B32E | $2,950,000 (3BR) $1757/sf B32A | $2,399,000 (2BR) $1892/sf

B27E | $1,700,000 (2BR) $1441/sf B26E | $1,680,000 (2BR) $1424/sf B24C | $1,500,950 (1BR) $1855/sf

B21F | $1,800,000 (2BR) $1377/sf

B18A | $1,599,000 (2BR) $1351/sf

B11A | $1,495,000 (2BR) $1285/sf B9C | $885,000 (1BR) $1106/sf

C8E | $749,000 (0BR) $1319/sf C7G | $893,000 (1BR) $1067/sf

C7K | $950,000 (1BR) $1147/sf

C5L | $929,000 (2BR) $1102/sf

B5C | $1,999,888 (2BR) $1141/sf All Data From SFARMLS

C2B | $1,199,000 (1BR) $1062/sf

9

333 / 355 1ST

THE METROPOLITAN SOLD ACTIVE ACTIVE CONTINGENT PENDING

N1904 | $1,853,000 (3BR) $1290/sf

N807 | $375,798 (2BR) bmr

# SOLD

5

AVG $/SF

AVG SALE PRICE

$1,197 $1,469,250

AVG DOM

32

COMPARED TO 2015 Q2 6

$1,238

$1,107,500

31

S2703 | $2,100,000 (2BR) $1419/sf S2306 | $899,000 (1BR) $1230/sf S2305 | $1,595,000 (2BR) $1194/sf S2201 | $1,675,000 (2BR) $1190/sf S2002 | $1,550,000 (2BR) $1153/sf S1807 | $1,595,000 (2BR) $1368/sf

S905 | $799,000 (1BR) $1156/sf

S303 | $729,000 (1BR) $1283/sf All Data From SFARMLS

11

425 1ST | 489 HARRISON

ONE RINCON HILL SOLD ACTIVE ACTIVE CONTINGENT PENDING # SOLD

2

AVG $/SF

AVG SALE PRICE

$1,643 $1,795,000

AVG DOM

33

COMPARED TO 2015 Q2 10

$1,447

$1,823,500

507 | $2,350,000 (2BR) $1558/sf

49

13 6002 | $3,349,000 (3BR) $2195/sf 5803 | $3,595,000 (3BR) $2144/sf

5106 | $2,495,000 (2BR) $1968/sf

4504 | $899,000 (1BR) $1486/sf 4402 | $2,498,000 (2BR) $1908/sf 4202 | $2,399,999 (2BR) $1833/sf

2708 | $1,149,000 (1BR) $1522/sf 2507 | $1,190,000 (1BR) $1453/sf

1903 | $1,699,000 (2BR) $1329/sf

1402 | $1,895,000 (2BR) $1448/sf 1306 | $1,595,000 (2BR) $1288/sf

All Data From SFARMLS

301 MISSION

MILLENNIUM SOLD ACTIVE ACTIVE CONTINGENT PENDING

41E | $2,695,000 (2BR) $1572/sf

31A | $2,250,000 (2BR) $1483/sf

704 | $2,100,000 (2BR) $1414/sf

303 | $1,980,000 (2BR) $1419/sf

6D | $1,080,000 (1BR) $1369/sf

# SOLD

7

AVG $/SF

AVG SALE PRICE

$1,624 $3,085,000

AVG DOM

140

COMPARED TO 2015 Q2 6

$1,847

$3,515,833

70

49B | $8,000,000 (3BR) $2413/sf 48B | $3,750,000 (2BR) $2254/sf 45D | $3,900,000 (2BR) $1900/sf

41C | $3,995,000 (3BR) $1841/sf 38B | $2,700,000 (2BR) $1634/sf 36A | $2,295,000 (2BR) $1513/sf

31E | $2,300,000 (2BR) $1342/sf 30D | $3,900,000 (2BR) $1998/sf 27E | $2,300,000 (2BR) $1342/sf 24H | $1,125,000 (2BR) $1455/sf 23E | $1,695,000 (2BR) $1492/sf

19A | $1,799,000 (2BR) $1225/sf 18E | $1,545,000 (2BR) $1407/sf 17A | $1,799,000 (2BR) $1216/sf

7C | $1,050,000 (1BR) $1261/sf 6A | $1,650,000 (2BR) $1116/sf 4E | $1,499,000 (2BR) $1320/sf

All Data From SFARMLS

15

1 HAWTHORNE LANE

ONE HAWTHORNE SOLD ACTIVE ACTIVE CONTINGENT PENDING

25D | $3,995,000 (2BR) $2042/s

sf

# SOLD

3

AVG $/SF

AVG SALE PRICE

$1,165 $1,185,000

AVG DOM

70

COMPARED TO 2015 Q2 2

$1,240

$1,337,000

22

25C | $3,950,000 (3BR) $1980/sf

12E | $1,650,000 (2BR) $1327/sf 11A | $1,025,000 (1BR) $1120/sf

2C | $880,000 (1BR) $1048/sf

17

501 BEALE

WATERMARK SOLD ACTIVE ACTIVE CONTINGENT PENDING

# SOLD

1

AVG $/SF

AVG SALE PRICE

$1,013 $1,275,000

AVG DOM

51

COMPARED TO 2015 Q2 3

$1,469

$1,850,000

10

4C | $1,275,000 (2BR) $1013/sf

All Data From SFARMLS

19

SOUTH BEACH & YERBA BUENA CONDOS

SOLD UNITS IN Q2 2016 Address

BR

BA

Status

Status Date

333 1st 807 (bmr)

2

2

Sold

4.13.16

355 1st 905

1

1

Sold

4.29.16

1 Hawthorne 2C

1

1

Sold

4.21.16

333 Main 7G

1

1

Sold

6.20.16

333 Main 7K

1

1

Sold

6.6.16

318 Spear 4C 1 Hawthorne 11A

1 1

1 1

Sold Sold

5.12.16 4.29.16

301 Mission 7C

1

1

Sold

5.23.16

425 1st 2507

1

1

Sold

4.11.16

501 Beale 4C

2

2

Sold

6.3.16

301 Mission 18E

2

2

Sold

6.27.16

355 1st 2002

2

2

Sold

4.27.16

1 Hawthorne 12E

2

2

Sold

6.21.16

355 1st 2201

2

2

Sold

4.29.16

301 Main 26E

2

301 Main 27E

2

2 2

Sold Sold

6.30.16 6.6.16

301 Main 21F

2

2

Sold

5.18.16

333 1st 1904

3

2

Sold

6.15.16

301 Mission 704

2

2

Sold

4.20.16

338 Spear 37F

3

2

Sold

6.3.16

301 Mission 31E 425 1st 4202

2 2

2 2

Sold Sold

4.19.16 4.29.16

338 Spear 17B

2

2

Sold

5.11.16

301 Mission 38B

2

2

Sold

4.18.16

338 Spear 31B

3

2

Sold

5.6.16

301 Mission 45D

2

3

Sold

4.14.16

338 Spear 36C

3

3

Sold

4.25.16

301 Mission 49B

3

3.5

Sold

4.29.16

* Only showing sold units in buildings featured in this book. Does not include new construction.

21

DOM

SF

List Price

Sold Price

$/SF

55

950

$375,798

$375,798

$396

1

691

$799,000

$799,000

$1156

141

840

$1,100,000

$880,000

$1048

70

837

$899,000

$893,000

$1067

1

829

$959,000

$950,000

$1146

40 47

828 915

$998,000 $1,095,000

$998,000 $1,025,000

$1205 $1120

49

833

$1,100,000

$1,050,000

$1261

5

819

$1,199,000

$1,190,000

$1453

51

1259

$1,299,000

$1,275,000

$1013

72

1098

$1,675,000

$1,545,000

$1407

18

1344

$1,595,000

$1,550,000

$1153

23

1243

$1,650,000

$1,650,000

$1327

67

1408

$1,950,000

$1,675,000

$1190

103 7

1180 1180

$1,699,000 $1,765,000

$1,680,000 $1,700,000

$1424 $1441

172

1307

$2,100,000

$1,800,000

$1377

41

1436

$1,995,000

$1,853,000

$1290

212

1485

$2,835,000

$2,100,000

$1414

57

1615

$2,395,000

$2,120,000

$1313

260 60

1714 1309

$3,300,000 $2,495,000

$2,300,000 $2,399,999

$1342 $1833

49

1323

$2,850,000

$2,600,000

$1965

64

1652

$2,895,000

$2,700,000

$1634

0

1612

$2,995,000

$3,275,000

$2032

251

2053

$4,675,000

$3,900,000

$1900

1

1732

$5,250,000

$5,250,000

$3031

71

3315

$8,995,000

$8,000,000

$2413

All Data From SFARMLS

318 / 338 MAIN | 333 BEALE | 201 FOLSOM

LUMINA SOLD ACTIVE ACTIVE CONTINGENT PENDING

D5B | $1,425,000 (2BR) D4H | $1,060,000 (1BR)

D4B | $1,415,000 (2BR)

# UNITS

656

# SOLD / IN CONTRACT

2BR LIST PRICE

450+

1BR LIST PRICE

$1,050,000+

3BR LIST PRICE

$1,445,000+ $3,200,000+

B25A | $2,460,000 (2BR)

B19F | $1,745,000 (2BR)

B15B | $1,950,000 (2BR)

C8C | $1,250,000 (1BR)

B7A | $1,650,000 (2BR) B5C | $1,545,000 (2BR)

C2B | $1,245,000 (1BR)

Only showing listings marketed on SFARMLS

23

401 HARRISON

THE HARRISON SOLD ACTIVE ACTIVE CONTINGENT PENDING

# UNITS

298

1BR LIST PRICE

$780K+

2BR LIST PRICE

$1.2M+

3BR LIST PRICE

$4M+

5F | $1,200,000 (2BR) $968/sf

25

33C | $2,468,000 (2BR) $1850/sf

16F | $1,827,000 (2BR) $1473/sf 14G | $1,217,000 (1BR) $1486/sf

6B | $782,000 (1BR) $1051/sf 5D | $786,000 (1BR) $1297/sf

Only showing listings marketed on SFARMLS

72 TOWNSEND

72 TOWNSEND SOLD ACTIVE ACTIVE CONTINGENT PENDING

PH4 | $2,890,000 (2BR) $2001/sf

603 | $1,025,000 (1BR) $1306/sf

704 | $1,799,000 (2BR) $1522/sf

611 | $1,525,000 (2BR) $1379/sf

610 | $1,549,000 (2BR) $1271/sf

601 | $999,000 (1BR) $1268/sf

509 | $1,449,000 (2BR) $1276/sf

# UNITS

# SOLD / IN CONTRACT

67

42+

2BR LIST PRICE

$1.45M+

1BR LIST PRICE

$999K+

3BR LIST PRICE

$3.15M+

PH2 | $4,064,798 (3BR) $2361/sf

PH1 | $3,549,000 (3BR) $2040/sf

807 | $1,975,000 (2BR) $1620/sf

805 | $1,490,000 (1BR) $2317/sf

706 | $1,880,000 (2BR) $1725/sf

702 | $1,799,999 (2BR) $1485/sf

608 | $1,299,000 (1BR) $1293/sf

609 | $1,449,000 (2BR) $1320/sf

504 | $1,565,000 (2BR) $1242/sf

510 | $1,555,000 (2BR) $1276/sf

302 | $1,449,000 (2BR) $1210/sf

308 | $1,199,000 (1BR) $1262/sf

Only showing listings marketed on SFARMLS

27

SOUTH BEACH CONDO APPRECIATION

MEDIAN CONDO PRICES $1400000 $1300000

MEDIAN PRICE

$1200000 $1100000 $1000000 $900000 $800000 $700000

Q1 ‘12

Q2 ‘12

Q3 ‘12

Q4 ‘12

Q1 ‘13

Q2 ‘13

Q3 ‘13

Median sales price is the price at which half the sales occurred at higher prices and half for lower. It is a general statistic that is affected by factors other than changes in fair market value, such as seasonal trends and changes in new construction.

Paul Hwang | 415.216.8746

Q4 ‘1

13

29

Q1 ‘14

Q2 ‘14

Q3 ‘14

Q4 ‘14

Q1 ‘15

Q2 ‘15

Q3‘15

Q4 ‘15

Q1 ‘16 Q2 ‘16

All Data From SFARMLS

SOUTH BEACH CONDO ACTIVITY

CONDO SALES 120

NUMBER OF SOLD CONDOS

110 100 90 80 70 60 50 40 Q1 ‘13

Q2 ‘13

Q3 ‘13

Q4 ‘13

Q1 ‘14

Q2 ‘14

31

Q3 ‘14

Q4 ‘14

Q1 ‘15

Q2 ‘15

Q3‘15

Q4 ‘15

Q1 ‘16

Q2 ‘16

All Data From SFARMLS

PAUL HWANG

RANKED #1 IN SOUTH BEACH bre 01371169 | 415.216.8746 paul@skyboxrealty.com

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