Ines Gomez-Acebo Luxury Report September 2018

INÉS GÓMEZ-ACEBO L U X U RY MARKET REPORT

MIAMI SEPTEMBER 2018

INÉS GÓMEZ-ACEBO Broker Associate, PSA

786.300.9382

Inesga@optimar.com www.IGARealtyGroup.com Inés specializes in the sale and purchase of luxury homes in the Miami beach/upper East Miami area.

Dedicated to her passion of a fast, efficient, hustle-free real estate transactions; to offer her clients the best experience. She is client oriented, so much that you needs come first in every transaction.

Inés leverages on values of trust and absolute discretion to handle all transactions.

After a 25year long career in leadership positions in the retail industry, Inés has earned a wealth of professional expertise, knowledge, sophisticated resources and unique skills along with a deep understanding of marketing, promotion, and negotiation. She attributes her success to her skill in organizing and motivating sales forces and sales planning. She became a Realtor in 2015 being top producer since the first year and in 2017 became a Broker.

To the field of real estate, she brings on board ingenious marketing techniques by adopting all cutting edge technologies. In addition, Ines has built a formidable local presence by tapping into visibility using outdoor and digital advertising. Not only is she strategic on on-line and off-line marketing tools but also maintains an impressive network with the who’s who ; immersing herself in the target market as her strategy to get in touch with the potential buyers and sellers of luxury homes.

To add to her experience, Ines holds a Price Strategy Advisor Certification that comes in handy in listing properties at accurate prices and is member of the Institute for Home Luxury Marketing. As such her extensive knowledge of Miami’s beach and upper East Miami’s area is one-of-a-kind. She is sought after by her clients for her advice and reasonable judgment on the areas’ market trends, property values and a realistic outlook on prospective sales. Ines also runs a successful blog; ‘the Real Estate Whisperer’, a podium she uses to address, share, engage and give insights on the real estate market.

In her free time, she finds thrill in reading, taking care of her dogs, engaging in environmental protection, traveling, spending time with friends, and enjoying a good glass of wine.

TABLE OF CONTENTS PAGE 4

LUXURY REPORT EXPLAINED

PAGE 5

WELCOME MESSAGE

PAGE 6-8

NORTH AMERICAN LUXURY MARKET REVIEW

PAGE 9

13 MONTH MARKET TRENDS

PAGE 10

SINGLE FAMILY HOMES MONTHLY OVERVIEW

PAGE 11

ATTACHED HOMES MONTHLY OVERVIEW

PAGE 12-13 MONTHLY STATISTICS BY CITY - Single Family Homes PAGE 14-15 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 17

LOCAL LUXURY MARKET REVIEW

PAGE 18-19 SINGLE FAMILY HOMES - Monthly Statistics PAGE 20-21 ATTACHED HOMES - Monthly Statistics PAGE 22

THANK YOU TORONTO

SINGLE-FAMILY HOMES

13-MONTH LUXURY MARKET TREND 4 Median Sales Price

$3,120,000

181

82 Apr-17

$3,310,000

106

143

$2,997,500

144

May-17

$3,219,000

54 Jul-17

$3,200,000

Inventory

$3,125,000

$3,175,000

Solds

$3,125,000

347

326

277

199 80

Jun-17

$3,065,000

247

30

59

Aug-17

Sep-17

67

Nov-17

$3,047,500

30 Dec-17

31 Jan-18

$3,112,500

$2,937,500

425

407

362

283

241 63

Oct-17

$3,435,000

44

52

80

Feb-18

Mar-18

Apr-18

MEDIAN DATA INVENTORY March

April

407

425 VARIANCE: 4 %

SALE PRICE PER SQFT. March

N/A

April

N/A VARIANCE: N/A

SOLDS March

SALES PRICE April

52

80 VARIANCE: 54 % SALE TO LIST PRICE RATIO March

April

97.26% 98.48% VARIANCE: 1 %

March

$

2.94m

April

3.11m 6%

$

VARIANCE:

DAYS ON MARKET March

April

10

10 0%

VARIANCE:

TORONTO MARKET SUMMARY | APRIL 2018 • The Toronto single-family luxury market is a Balanced Market with a 19% Sales Ratio.

• Homes sold for a median of 98.48% of list price in April 2018.

• The most active price band is $8,000,000-$8,999,999, where the sales ratio is 40%.

• The median luxury sales price for single-family homes has increased to $3,112,500.

– LUXURY REPORT EXPLAINED – The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report.

Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes.

It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More indepth reports on the luxury communities in your market are available as well.

Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.

By contrast, a Seller's Market gives sellers greater control over the price point. Typically this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher.

A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.

REPORT GLOSSARY REMAINING INVENTORY: The total number of homes available at the close of a month.

DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.

LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes.

NEW LISTINGS: The number of homes that entered the market during the current month.

PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.

SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceeds current inventory.

SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.

THIS IS YOUR

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MAP OF LUXURY RESIDENTIAL MARKETS

W

elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report

provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.

Copyright © 2018 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute annually. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.

NORTH AMERICAN AU G U S T LUXURY REVIEW 2 0 1 8 The Big, the Bold and the Brave is the real title of this month’s review. Perhaps it’s a reflection of a market where overall nothing dramatic is happening in terms of significant sales, price trends or fluctuations. Instead, big changes in property ownership types and locations, bold moves in design, color and textures, and brave decisions are taking a firm hold of the luxury real estate market.

In a snapshot of the trend month over month and against the same period last year, the median luxury sales price for single-family homes in North America dropped a mere 0.9% in August, against the previous month. Although, when compared to August 2017, the median luxury single-family home price increased by 0.8%. In the luxury attached home market, sale prices in August increased by 0.5% when compared to the previous month of July; against August 2017 increases showed a 0.6% rise.

Overall, the median sold price for luxury properties throughout North America over the last 13 months shows only a 5% difference at any one time, proving that there is only a small but steady ebb and flow to home values in the current market.

However, the one price point that is receiving significant notice in terms of popularity is the US$1 Million dollar plus range – property sales continue to flourish not only in North America, but globally. The lack of inventory when combined with the threat of interest rate increases has fueled buyer anxiety, creating price increases and shorter days on market.

Luxury home sales in this price point rose dramatically in locations such as Seattle, Denver, Dallas, Greenwich, Austin, Atlanta in the US and Victoria and Montreal in Canada. New York also saw this increased demand for similar type properties, although at the slightly higher price point, of $4-5 million!

Coming back to the Big, Bold and Brave, we first noticed a dramatic resurgence of condo

living back in the second half of 2017 – and when it comes to The Big, surely owning a resplendent Penthouse with dramatic views must be the ultimate in luxury? Penthouse sales have continued to break records in terms of price per square foot across the globe, and in recent years we have seen many new developments with multiple floors offering sub-penthouses – the foresight of some developers is uncanny.

Last month we reviewed summer homes, but the demand for multiple second and vacation homes across all markets continues to increase too; including Sarasota, Nantucket, Park City, Telluride, Jupiter Island in the US, and Muskoka in Canada.

Perhaps this reflects their affordability against a luxury homeowner’s primary residence, but other factors such as a strong economy, stock market highs, and tax implications for the very high-end are also driving forces. Consequently, some markets are actually seeing a drop in sales, but this is merely due to a lack of inventory, look more closely and you will see a rise in the actual sales price.

It is anticipated that rising interest rates may well temper these sales, as well as the continued effects of the new tax laws in the US and for Canada, in cities such as Vancouver.

Bold is the word that best describes new trends in design, both interior and exterior.

Just as the fashion industry is led by its luxury couture designers, so too are home trends. A combination of wealth that allows for the experimental, the artistry of an interior designer, and the desire to own the best or create the unique drives trends that many would be too timid to even contemplate!

2018, according to WGSN Interior Trends, reveals that interior designs are being inspired by nature, unique patterns, the opulence of the dark and bold color palates, and the use of tactile textiles, which is a very obvious and dramatic 180-degree U-turn from the crisp clean white and grey undertones with splashes of vibrant greens and blues.

Soft furnishings, personal design statements, use of multiple natural materials and techniques combined with bold glamorous statement pieces are just some of the trends seen in homes across the globe. Daring and challenging to the senses of sight and touch these interior designs are often a riot of color and pattern mixed with the eye of a true aficionado. Not for the faint of heart, but in true luxury style this new trend creates a separation between the wealthy’s ability to ‘have it all’ and ‘do it right’!

Architecturally, themes for contemporary homes are equally bold using the geometric, glass, concrete, indoor-outdoor living, functionality through technology while embracing the ‘green sustainability’. As with the interior, designs are not comprised of a single characteristic, but rather are an expression of creativity and daring contrast.

Minimalistic and cutting-edge, these homes are designed to embrace every luxury amenity, from infinity pools to multi-tiered fluid floor plans, as well as showcase their magnificent settings with endless walls of glass and the natural integration of their surroundings.

The magic of glass and its use in both contemporary and traditional luxury homes has created chic, lightfilled, panoramic view homes from mountain retreats to desert estates, ocean villas to city penthouses.

Designed to maximize its potential, glass can completely transform, creating a gallery of new exposures and unique perspectives.

In contrast to new design, the luxury elite are bravely and artfully transforming public buildings full of historic intrigue and unique features into luxurious private residences. Ingenious design decisions have combated problems from architectural challenges to engineering feats of genius, while preserving originality, character and signature features. These unique property conversions cover a wide gambit but include post office houses, fire stations, squash clubs, restaurants and windmills.

The ultra-wealthy are often braver in their lifestyle decisions than they seem – hiding in plain sight!

Stunning properties that encompass the allure of the new, being ahead of the curve, getting away from it all, being one with the elements – can often be found in some of the most unusual and unexpected locations. Some remain hidden from even the most prying eyes while others create new trends and luxury enclaves. Take West Chelsea, once an industrial area this is now one of Manhattan’s latest chic addresses with luxury lofts and townhomes reflecting its newfound gentrification, whereas, a truly stunning 5-acre private estate lies hidden, unknown in Southern Oregon.

It is important to understand these trends and their impacts as they can greatly influence the value of a home, especially the luxury real estate market.

While this report seeks to give an overall view of the luxury market it is still important to recognize that individual markets must be viewed separately – certainly one of the most significant observations is that there are many markets in the ‘change’ process and the trends described above are causing a variety of influences that are often in contradiction to current expectations.

– 13 - MONTH MARKET TRENDS* – FOR THE LUXURY NORTH AMERICAN MARKET

Single-Family Homes

Attached Homes

Single-Family List Price

Attached List Price

All data is based off median values. Median prices represent properties priced above respective city benchmark prices.

DAYS ON MARKET

80

60

56

52

55

64

62

58 52

47

43 40

42

40

42

40

39

42

32

41

29

38

40 33

41

32

32

32

32

APR

MAY

JUN

JUL

20

0 AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

AUG

$501 $349

$508 $367

$562 $369

$551 $368

$540 $372

$504 $353

$366

$339

$322

$458

$507

$525

$517 $365

$508 $377

$300

$360

$468

$400

$510

$500

$338

PRICE PER SQUARE FOOT

$600

$200

$100

$0

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SALES PRICE VS. LIST PRICE

$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

Discrepancies between statistics published between the August 2018 and August 2018 Luxury Market Reports are due to the addition of Douglas County, CO and Kauai, HI.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month July 2018 | August 2018

SINGLE-FAMILY HOMES July

August

July

August

40,216

39,526

Median List Price

$1,685,000 $1,685,000

Total Inventory

Median Sale Price

$1,395,000 $1,382,000

New Listings

9,583

9,424

6,470

6,476

40

47

3,660

3,718

Median SP/LP Ratio

96.98%

96.97%

Total Sold

Total Sales Ratio

16.09%

16.38%

Median Days on Market

$367

$349

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.



159 New Listings



6

Total Sold





8

0.29%

Med. Sale Price

Days on Market

Sales Ratio

12,500

$



SINGLE-FAMILY HOMES MARKET SUMMARY | AUGUST 2018 •

Official Market Type: Balanced Market with a 16.38% Sales Ratio.1

•

Homes are selling for an average of 96.97% of list price.

•

The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,382,000.

•

Markets with the Highest Median Sales Price: LA-Beach Cities ($3,735,000), Vancouver ($3,649,000), Vail ($3,600,000), and Santa Barbara ($3,239,000).

•

Markets with the Highest Sales Ratio: Silicon Valley (66%), San Francisco (54%), Seattle (42%), and Denver (38%).

1

Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set in December of each year by The Institute for Luxury Home Marketing.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month July 2018 | August 2018

ATTACHED HOMES July

August

Median List Price

$1,014,000

$998,500

Median Sale Price

$899,500

$903,951

Median SP/LP Ratio

98.47%

Total Sales Ratio Median Price per Sq. Ft.

July

August

Total Inventory

13,211

13,314

New Listings

3,206

3,308

98.05%

Total Sold

2,095

2,071

15.86%

15.56%

Median Days on Market

32

41

$508

$501

1,992

2,122

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





New Listings

Total Sold

102

24





9

0.3%

Med. Sale Price

Days on Market

Sales Ratio

4,451

$



ATTACHED HOMES MARKET SUMMARY | AUGUST 2018 •

Official Market Type: Balanced Market with an 15.56% Sales Ratio.1

•

Attached homes are selling for an average of 98.05% of list price.

•

The median luxury threshold2 price is $711,225, and the median attached luxury sale price is $903,951.

•

Markets with the Highest Median Sales Price: San Francisco ($2,414,188), Vail ($2,400,000), Greater Boston ($2,137,500), and Naples ($1,875,000).

•

Markets with the Highest Sales Ratio: Silicon Valley (195%), Marin County (60%), LA-The Valley (59%), and San Francisco (42%).

1

Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set in December of each year by The Institute for Luxury Home Marketing.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$1,110,444

$930,000

710

249

120

43

Balanced

AZ

Paradise Valley

$3,000,000

$1,947,500

179

25

20

147

Buyer's

AZ

Phoenix

$719,900

$650,000

817

233

187

59

Seller's

AZ

Scottsdale

$1,649,000

$1,252,500

686

96

82

146

Buyer's

AZ

Tucson

$750,000

$665,000

681

130

82

50

Buyer's

BC

Okanagan Valley

$1,599,000

$1,430,000

670

118

23

93

Buyer's

BC

Vancouver

$3,988,800

$3,649,000

1,395

266

50

78

Buyer's

BC

Victoria

$1,797,000

$1,645,000

408

94

65

34

Balanced

CA

Los Angeles Beach Cities

$4,995,000

$3,735,000

391

106

69

33

Balanced

CA

Los Angeles City

$4,125,000

$3,100,000

793

233

157

32

Balanced

CA

Los Angeles The Valley

$2,175,000

$1,755,000

696

236

177

31

Seller's

CA

Marin County

$3,900,000

$2,800,000

124

22

31

52

Seller's

CA

Napa County

$2,795,000

$2,125,000

138

21

15

52

Buyer's

CA

Orange County

$2,295,000

$1,851,500

1,699

410

290

45

Balanced

CA

Palm Springs & Palm Desert

$1,797,000

$1,365,000

367

51

24

136

Buyer's

CA

Sacramento

$779,000

$717,000

907

343

295

20

Seller's

CA

San Diego

$2,200,000

$1,600,000

1,414

426

271

35

Balanced

CA

San Francisco

$3,900,000

$3,200,000

61

15

33

13

Seller's

CA

Santa Barbara

$3,750,000

$3,239,000

259

45

24

50

Buyer's

CA

Silicon Valley

$4,380,000

$3,200,000

183

99

120

11

Seller's

CO

Boulder

$1,749,000

$1,300,000

214

52

59

62

Seller's

CO

Denver

$940,000

$840,000

1,211

382

460

17

Seller's

CO

Douglas County

$1,275,000

$1,025,000

335

70

76

36

Seller's

CO

Vail

$4,495,000

$3,600,000

135

14

5

96

Buyer's

DC

Washington D.C.

$3,850,000

$2,800,000

50

5

17

88

Seller's

FL

Boca Raton & Delray Beach

$2,099,500

$1,400,000

568

72

32

122

Buyer's

FL

Greater Fort Lauderdale

$1,299,000

$890,000

1,558

258

161

54

Buyer's

FL

Jacksonville Beaches

$1,199,000

$1,050,000

306

40

33

115

Buyer's

FL

Miami

$1,349,000

$975,000

1,353

240

97

108

Buyer's

Median prices represent properties priced above respective city benchmark prices.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

FL

Naples

$1,849,000

$1,414,000

1,061

127

64

77

Buyer's

FL

Orlando

$1,619,900

$1,499,900

569

83

53

82

Buyer's

FL

Palm Beach Towns

$1,850,000

$1,265,000

471

60

39

83

Buyer's

FL

Sarasota & Beaches

$1,695,000

$1,450,000

481

45

46

101

Buyer's

GA

Atlanta

$1,150,000

$965,900

1,373

361

181

43

Buyer's

HI

Kauai

$2,997,000

$1,900,000

208

18

9

205

Buyer's

HI

Maui

$2,972,500

$1,775,000

196

19

11

249

Buyer's

IL

Chicago

$1,249,000

$1,050,000

2,095

471

354

65

Balanced

MA

Greater Boston

$2,999,700

$2,477,500

108

10

38

14

Seller's

MD

Montgomery County

$1,775,000

$1,480,000

385

80

85

20

Seller's

MI

Oakland County

$739,000

$600,200

1,322

383

199

28

Balanced

MO

St. Louis

$771,950

$686,500

242

64

46

20

Balanced

NC

Charlotte

$888,609

$796,500

1,088

223

232

43

Seller's

NC

Raleigh-Durham

$725,000

$650,750

1,045

221

234

4

Seller's

NV

Las Vegas

$728,000

$650,000

1,464

484

296

36

Balanced

NY

Brooklyn

$1,450,000

$1,300,000

169

32

14

87

Buyer's

NY

Staten Island

$1,199,000

$970,000

204

36

15

62

Buyer's

ON

GTA - York

$2,280,000

$1,925,000

752

289

67

29

Buyer's

ON

Toronto

$3,498,000

$3,135,000

403

171

42

37

Buyer's

TN

Nashville

$997,000

$850,000

386

137

83

16

Seller's

TX

Austin

$981,268

$835,950

818

228

220

31

Seller's

TX

Collin County

$699,500

$635,000

1,061

223

154

48

Buyer's

TX

Dallas

$999,900

$956,250

827

221

162

37

Balanced

TX

Fort Worth

$850,000

$745,500

870

195

182

39

Balanced

TX

Houston

$829,950

$730,000

2,012

535

315

46

Balanced

TX

The Woodlands & Spring

$773,290

$695,000

548

140

65

43

Buyer's

UT

Park City

$2,800,000

$3,000,000

281

51

27

134

Buyer's

VA

Fairfax County

$1,675,000

$1,411,500

545

91

70

53

Buyer's

WA

Seattle

$1,822,500

$1,445,000

234

75

98

13

Seller's

Median prices represent properties priced above respective city benchmark prices.

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

$825,000

$777,500

354

103

32

35

Buyer's

AB

Calgary

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$691,500

$712,500

115

19

24

84

Balanced

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,989,000

$1,765,000

682

191

52

42

Buyer's

BC

Victoria

$799,900

$741,750

221

76

66

25

Seller's

CA

Los Angeles Beach Cities

$1,665,000

$1,400,000

183

70

69

21

Seller's

CA

Los Angeles City

$1,695,000

$1,227,000

326

115

84

13

Seller's

CA

Los Angeles The Valley

$688,000

$659,500

129

75

76

23

Seller's

CA

Marin County

$1,140,000

$1,200,000

15

4

9

66

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$998,000

$907,902

527

193

169

28

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,017,500

$875,000

562

214

136

20

Seller's

CA

San Francisco

$2,995,000

$2,414,188

77

21

32

23

Seller's

CA

Santa Barbara

$2,112,500

$1,387,500

40

11

4

110

Buyer's

CA

Silicon Valley

$1,499,000

$1,414,180

57

44

111

12

Seller's

CO

Boulder

$923,000

$775,000

74

18

17

57

Seller's

CO

Denver

$722,500

$630,000

490

208

176

12

Seller's

CO

Douglas County

$650,000

$574,000

23

11

6

7

Seller's

CO

Vail

$3,447,500

$2,400,000

94

13

5

142

Buyer's

DC

Washington D.C.

$1,850,000

$1,515,000

123

30

39

30

Seller's

FL

Boca Raton & Delray Beach

$827,500

$609,000

328

49

36

55

Buyer's

FL

Greater Fort Lauderdale

$859,000

$900,000

1,147

155

61

119

Buyer's

FL

Jacksonville Beaches

$1,197,450

$1,150,000

46

9

5

67

Buyer's

FL

Miami

$995,000

$1,050,000

2,794

346

70

164

Buyer's

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

FL

Naples

$1,997,000

$1,875,000

260

37

15

138

Buyer's

FL

Orlando

$749,250

$822,500

72

8

8

34

Buyer's

FL

Palm Beach Towns

$1,275,000

$1,044,130

277

33

23

71

Buyer's

FL

Sarasota & Beaches

$1,349,000

$1,173,125

193

21

18

80

Buyer's

GA

Atlanta

$674,900

$595,000

563

164

79

40

Buyer's

HI

Kauai

$1,500,000

$1,312,500

153

20

10

166

Buyer's

HI

Maui

$1,695,000

$1,650,000

126

12

21

104

Balanced

IL

Chicago

$1,199,694

$1,025,000

906

246

144

34

Balanced

MA

Greater Boston

$2,334,000

$2,137,500

216

40

63

30

Seller's

MD

Montgomery County

$795,000

$675,000

171

48

55

27

Seller's

MI

Oakland County

$747,500

$547,341

70

18

3

79

Buyer's

MO

St. Louis

-

-

-

-

-

-

-

NC

Charlotte

$738,148

$569,950

138

31

20

55

Buyer's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NV

Las Vegas

-

-

-

-

-

-

-

NY

Brooklyn

$999,000

$824,000

41

10

3

281

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - York

$769,000

$710,000

148

76

13

34

Buyer's

ON

Toronto

$1,288,000

$1,195,000

359

216

114

20

Seller's

TN

Nashville

$699,900

$685,000

113

48

18

10

Balanced

TX

Austin

$740,000

$657,000

199

53

34

49

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$689,000

$712,500

193

44

20

77

Buyer's

TX

Fort Worth

-

-

-

-

-

-

-

TX

Houston

$645,000

$595,000

253

77

17

62

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,997,000

$1,362,500

157

14

10

65

Buyer's

VA

Fairfax County

$699,900

$680,000

191

71

71

16

Seller's

WA

Seattle

$1,249,500

$1,070,000

108

46

33

23

Seller's

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.

Luxury is in each detail.

Hubert de Givenchy

MIAMI

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | AUGUST 2018 Inventory

Sales

Luxury Benchmark Price 1: $650,000 $12,000,000+ $7,000,000 - $11,999,999 $6,000,000 - $6,999,999 $5,000,000 - $5,999,999

$2,000,000 - $2,499,999 $1,500,000 - $1,999,999

$800,000 - $899,999 $700,000 - $799,999 $650,000 - $699,999

Total Sales: 97 Buyer's Market

34

1

Total Sales Ratio2: 7%

39

3

35

0

34

5

62

1

89

1

162

11

$1,000,000 - $1,499,999 $900,000 - $999,999

Total Inventory: 1,353

21

0

$3,000,000 - $3,499,999 $2,500,000 - $2,999,999

48

3

$4,000,000 - $4,999,999 $3,500,000 - $3,999,999

63

1

283

22 99

9

120

11

150

16

114

13

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

NA

NA

NA

0

5

0%

1,000 - 1,999

$715,000

3

2

11

131

8%

2,000 - 2,999

$825,000

4

3

33

351

9%

3,000 - 3,999

$1,180,000

4

3

26

333

8%

4,000 - 4,999

$1,025,000

5

4

13

208

6%

5,000+

$3,700,000

6

6

10

254

4%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

MIAMI

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

Inventory

Solds

$1,175,000 $900,000

$914,500

$900,000

1,371

1,206

1,116

1,081

77

52

Aug-17

Sep-17

$1,000,000

91

Oct-17

$892,000

1,425

1,392

1,344

57

76

Nov-17

Dec-17

56

Jan-18

$975,000

$950,000

$875,297

1,397

$1,027,500

$920,265

1,402

1,387

1,390

65

94

85

94

Feb-18

Mar-18

Apr-18

May-18

$975,000

$959,500

1,356

112

Jun-18

1,353

97

85 Jul-18

Aug-18

MEDIAN DATA INVENTORY July

August

1,356

1,353 VARIANCE: 0 %

SALE PRICE PER SQFT. July

August

350

$

$

363 VARIANCE: 4 %

SOLDS July

SALES PRICE August

85

97 VARIANCE: 14 % SALE TO LIST PRICE RATIO July

August

94.30% 94.04% VARIANCE: 0 %

July

960k

$

August

975k VARIANCE: 2 % $

DAYS ON MARKET July

August

119

108 VARIANCE: -9 %

MIAMI MARKET SUMMARY | AUGUST 2018 • The Miami single-family luxury market is a Buyer's Market with a 7% Sales Ratio.

• Homes sold for a median of 94.04% of list price in August 2018.

• The most active price band is $3,000,000-$3,499,999, where the sales ratio is 15%.

• The median luxury sales price for single-family homes has increased to $975,000.

• The median days on market for August 2018 was 108 days, down from 119 in July 2018.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3

MIAMI

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | AUGUST 2018 Inventory

Sales

Luxury Benchmark Price 1: $610,000 $3,000,000+ $2,500,000 - $2,999,999 $2,000,000 - $2,499,999 $1,500,000 - $1,999,999

$1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999

$1,000,000 - $1,099,999 $900,000 - $999,999 $800,000 - $899,999 $750,000 - $799,999

82

3

117

2

279

3

$610,000 - $649,999

81

4

Total Inventory: 2,794 107

4

Total Sales: 70 Buyer's Market

132

2

Total Sales Ratio2: 3%

135

4 110

5

261

4

316

3 232

6

$700,000 - $749,999 $650,000 - $699,999

315

12

153

7

272

4

202

7

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$690,000

1

1

3

224

1%

1,000 - 1,999

$935,000

2

2

35

1671

2%

2,000 - 2,999

$1,200,000

3

3

23

516

4%

3,000 - 3,999

$3,062,500

3

4

4

132

3%

4,000 - 4,999

$10,100,000

4

4

1

56

2%

5,000+

$5,350,000

5

5

3

53

6%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

MIAMI

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$1,137,500

$862,500

$1,032,000

$950,000

$825,000

56

45

Aug-17

Sep-17

59 Oct-17

$830,000

44

67

Nov-17

Dec-17

$940,000

2,888

2,803

2,685

2,656

2,322

2,048

1,926

Inventory

55

Jan-18

$950,000

2,856

Solds

$1,000,000

2,803

2,791

2,730

61

75

85

79

Feb-18

Mar-18

Apr-18

May-18

$958,125

$940,000

$875,000

2,794

2,757

108

Jun-18

$1,050,000

74

70

Jul-18

Aug-18

MEDIAN DATA INVENTORY July

August

2,757

2,794 VARIANCE: 1 %

SALE PRICE PER SQFT. July

August

588

$

662 VARIANCE: 13 % $

SOLDS July

SALES PRICE August

74

70 VARIANCE: -5 % SALE TO LIST PRICE RATIO July

August

93.24% 92.54% VARIANCE: -1 %

July

958k

$

August

1.05m VARIANCE: 10 % $

DAYS ON MARKET July

August

196

164 VARIANCE: -16 %

MIAMI MARKET SUMMARY | AUGUST 2018 • The Miami attached luxury market is a Buyer's Market with a 3% Sales Ratio.

• Homes sold for a median of 92.54% of list price in August 2018.

• The most active price band is $700,000-$749,999, where the sales ratio is 5%.

• The median luxury sales price for attached homes has increased to $1,050,000.

• The median days on market for August 2018 was 164 days, down from 196 in July 2018.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3

Thank you for taking time to view this report.

For more information about this report and the services I can offer you and your luxury property, please give me a call at 786.300.9382.

- Inés Gómez-Acebo

INÉS GÓMEZ-ACEBO

786.300.9382 | Inesga@optimar.com | www.IGARealtyGroup.com