SO U TH F LO R I DA M A R KE T REP O RT
201 4
1
M I A M I
S O U T H
C O C O N U T G R O V E / C O R A L G A B L E S / P I N E C R E S T / P A L M E T T O B AY Coral Gables, known as the “City Beautiful�, is home to historical architecture, museums, art galleries and world-class dining. It continues to be one of the finest places to live in Miami with exclusive communities such as Coco Plum and Gables Estates. With excellent schools, high-end shopping in the Village of Merrick Park and fine dining along the ever-popular Miracle Mile, Coral Gables and its surrounding neighborhoods provide the ideal residence for families and young professionals alike.
%
COCONUT GROVE
CHANGE W: waterfront N: non-waterfront
Average $/SF
W: -23% N: +31% in 2013 compared to 2010-2012 avg.
# Transactions
A LL SI NG LE FA M I LY H O M E S 250
$700 $693
$480
compared to 2010-2012 avg.
$400
$335 100
$266
$259
$244
$300
50
$200 5
38
6
131
7
186
2
215
$100
0
2010
Avg. Sale Price
$500
$440 150
W: -67% N: +82% in 2013
$600
$545
200
2011
waterfront properties
# transactions
W: +71% N: +30%
Average Sales Price Waterfront Non-Waterfront
in 2013
2012
2010 $5,665,000 $676,577
2013
non-waterfront properties
2011 $2,870,000 $685,835
2012 $3,176,571 $732,484
average $/SF
2013 $6,687,500 $908,122
compared to 2010-2012 avg.
A LL CO ND O S Average $/SF
W: +10% N: +20%
120
$550
100
$443
in 2013 compared to 2010-2012 avg.
$418
$409 80
$450
$380
60
W: +66% N: +318%
40
in 2013
20
compared to 2010-2012 avg.
0
$243 $223
14
2
61
2010
Avg. Sale Price
W: +23% N: -13% in 2013 compared to 2010-2012 avg.
$350
$304
$296
# Transactions
# transactions
$250
8
115
2011
waterfront properties
Average Sales Price Waterfront Non-Waterfront
2010 $661,893 $1,047,500
28
105
2012
53
non-waterfront properties: $500K+
2011 $739,211 $645,313
$150
2013
2012 $788,779 $734,813
average $/SF
2013 $816,580 $700,393 13
%
CORAL GABLES
CHANGE W: waterfront N: non-waterfront
AL L S I N G L E FA M I LY H O M E S 600
$650
$598
500
$529
$576
$600 $550
$507
$500
400
$450
Average $/SF
W: +6% N: +7% in 2013 compared to 2010-2012 avg.
$400
300 200
$281
$264
$350
$305 $267
$300 $250
100
$200 48
0
295
45
2010
281
2011
Average Sales Price Waterfront Non-Waterfront
486
76
2012
waterfront properties
# transactions
84
2010 $2,923,495 $708,533
557
$150
# Transactions
W: +29% N: +60% in 2013 compared to 2010-2012 avg.
2013
non-waterfront properties
2011 $2,744,387 $828,579
2012 $3,387,174 $715,229
average $/SF
Avg. Sale Price
W: +3% N: +11%
2013 $3,107,759 $830,542
in 2013 compared to 2010-2012 avg.
AL L CO ND O S 40
$550
35
$481
$528
$500
$440
30
$450
25
$382
$400
W: +7% N: +24% in 2013 compared to 2010-2012 avg.
$354
20 $307
15
$290
10
$257
5 9
0
21
2010
# transactions
5
12
2011
waterfront properties: $1M+
Average Sales Price Waterfront Non-Waterfront 14
Average $/SF
2010 $2,184,444 $673,810
18
25
16
2012
35
# Transactions
$300
W: +50% N: +81%
$250
in 2013
$200
compared to 2010-2012 avg.
2013
non-waterfront properties: $500K+
2011 $1,223,000 $738,500
$350
2012 $1,495,444 $737,344
average $/SF
2013 $1,664,531 $731,671
Avg. Sale Price
W: +2% N: +2% in 2013 compared to 2010-2012 avg.
%
CORAL GABLES
CHANGE W: waterfront N: non-waterfront
Average $/SF
W: +1% N: +15%
COCO P LU M : SI NG LE FA M I LY H O M E S 18
$600 $594
16
in 2013
14
compared to 2010-2012 avg.
12
$547
$529
$550
$507
$500
10
# Transactions
8
W: +91% N: +13%
6
in 2013 compared to 2010-2012 avg.
$382
$368
$400 $350
$316 4
$300
2 4
0
4
7
2010
Avg. Sale Price
$450
$407
2011
waterfront properties
# transactions
W: -8% N: +24%
Average Sales Price Waterfront Non-Waterfront
in 2013
14
2010 $3,318,750 $2,247,188
11
6
14
2012
9
non-waterfront properties
2011 $4,303,571 $1,908,929
$250
2013
2012 $3,243,145 $1,583,333
average $/SF
2013 $3,336,173 $2,368,588
compared to 2010-2012 avg.
G AB L E S E STATE S: SI NG LE FA M I LY H O M E S Average $/SF
12
W: +6%
11
in 2013
10
compared to 2010-2012 avg.
$1000 $935
$928
$988
$950
9
$900
8
$850
7
$800
6
# Transactions
5
W: +40%
4
in 2013
3
compared to 2010-2012 avg.
$750 $700
2
$694
1 0
Avg. Sale Price
W: +11% in 2013
$650
1
3
11
7
2010
2011
2012
2013
all properties
# transactions
Average Sales Price All Properties
2010 $4,150,000
2011 $5,243,633
$600
average $/SF
2012 $9,888,182
2013 $7,146,000
compared to 2010-2012 avg.
15
CO R AL
%
G AB L E S
CHANGE W: waterfront N: non-waterfront
SN AP PE R CR E E K L AKE S: SI NG LE FA M I LY H O M E S 5
$500 $471 $496
4
$460 $426
3
$420
$438 $374
$380
2
$340
1 $345 1
0
4
2
2011
# transactions
4
1
2012
waterfront properties
Average Sales Price Waterfront Non-Waterfront
4
W: -19% N: +20% in 2013 compared to 2011-2012 avg.
# Transactions
W: -33% N: 0% in 2013 compared to 2011-2012 avg.
2013
non-waterfront properties
2011 $8,000,000 $2,986,563
$300
Average $/SF
2012 $3,100,000 $2,456,250
average $/SF
Avg. Sale Price
W: -24% N: +6%
2013 $4,200,000 $2,896,215
in 2013 compared to 2011-2012 avg.
O LD CUTL E R COMMUN I T I E S: SI NG LE FA M I LY H O M E S 8
$700
7
$690 $673
6
$661
$670
5
in 2013 compared to 2010-2012 avg.
$650
3 2
$640
# Transactions
$630
W: +50%
$620
1
# transactions
W: +2%
$660
4
0
$680
Average $/SF
$610 4
6
2012
2013
waterfront properties
Average Sales Price Waterfront
2012 $3,176,250
compared to 2010-2012 avg.
$600
average $/SF
2013 $4,550,000
in 2013
Avg. Sale Price
W: +43% in 2013 compared to 2010-2012 avg.
16
%
CORA L
CHANGE W: waterfront N: non-waterfront
Average $/SF
N: -9%
PON CE DAVI S, H I G H P I NE S: SI NG LE FA M I LY H OMES 50
$350 $336
in 2013 compared to 2010-2012 avg.
G AB L E S
40
$336
$325
$325 30
# Transactions
N: +89% in 2013 compared to 2010-2012 avg.
20
$300 $302 10
0
Avg. Sale Price
7
26
43
48
2010
2011
2012
2013
waterfront properties
# transactions
N: +34%
Average Sales Price Non-Waterfront
in 2013 compared to 2010-2012 avg.
$275
2010 $1,147,386
average $/SF
2011 $1,243,900
2012 $1,270,581
2013 $1,631,271
D E E R I NG B AY: SI NG LE FA M I LY H O M E S Average $/SF
15
W: +7% N: +52%
$298 $341
in 2013 compared to 2010-2012 avg.
$300
10
$285
$200
$221
# Transactions
W: +33% N: +80%
$400
$345
$340
$332
5 $100
in 2013 compared to 2010-2012 avg.
4
0
0
2010
Avg. Sale Price
W: -7% N: +74% in 2013 compared to 2010-2012 avg.
# transactions
1
1
2011
waterfront properties
Average Sales Price Waterfront Non-Waterfront
2010 $925,375 NA
4
18
3
8
2012
non-waterfront properties
2011 $1,400,00 $607,000
$0
2013
2012 $1,098,846 $988,688
average $/SF
2013 $1,058,938 $923,333 17
PA L M E T TO B AY & P I N EC R E S T
% CHANGE W: waterfront N: non-waterfront
PAL M E T TO B AY: S I N GLE FA M I LY H O M E S 350
$200
Average $/SF
N: +23%
300
in 2013 $175
250 $159
compared to 2010-2012 avg.
200 $150
$139
150
# Transactions $125
$125
100
$125
50 0
55
210
342
291
2010
2011
2012
2013
in 2013 compared to 2010-2012 avg.
$100
non-waterfront properties
# transactions
N: +44%
average $/SF Avg. Sale Price
Average Sales Price Non-Waterfront
2010 $411,292
2011 $366,096
2012 $380,836
N: +19%
2013 $457,814
in 2013 compared to 2010-2012 avg.
PI N ECR E S T: S I N G L E FA M I LY H O M E S $466
250
$500
$364
200
$400
$270
150
100
$243
$240
$245
$300
$258
$200
$230
$100
50 21 3
0
6
42
2010
# transactions
18
181
2011
waterfront properties
Average Sales Price Waterfront Non-Waterfront
16
2010 $1,531,047 $1,140,275
204
226
2012
W: -33% N: +9% in 2013 compared to 2010-2012 avg.
# Transactions
W: +60% N: +59% in 2013 compared to 2010-2012 avg.
2013
non-waterfront properties
2011 $1,944,167 $1,005,875
$0
Average $/SF
2012 $1,416,720 $965,579
2013 $768,959 $1,131,017
average $/SF
Avg. Sale Price
W: -53% N: +9% in 2013 compared to 2010-2012 avg.
19
D O W N T O W N KEY BISCAYNE / BRICKELL / DOWNTOWN / MIDTOWN Key Biscayne, the luxurious residential island located on Biscayne Bay, is known for its beautiful views, beaches and quaint lifestyle with an international flair. The number of transactions for condos and single families in Key Biscayne dropped in 2013 compared to the years prior. However, the average price per square foot increased across the board for all properties from 2012. Greater Downtown Miami has become the place to see and be seen due to its recent growth. New developments and iconic cultural centers include the Perez Art Museum in Downtown Miami and Brickell City Centre, which will offer 5.4 million square feet of high end commercial, residential and hotel space in the center of the Financial District. These areas will continue to thrive tremendously with the introduction of additional fine dining, entertainment and luxury living with exclusive condominiums such as One Thousand Museum designed by renowned architect Zaha Hadid. 20
%
KE Y B I S C AY N E
CHANGE W: waterfront N: non-waterfront
A LL SI NG LE FA M I LY H O M E S
Average $/SF
W: -15% N: +26% in 2013 compared to 2010-2012 avg.
# Transactions
W: -4% N: +40% in 2013 compared to 2010-2012 avg.
60
$2,000 $1,901
50
$1,500 40 $1,265
30
$1,000
20
10
$490 4
0
22
5
W: +4% N: +37% compared to 2010-2012 avg.
16
58
8
2012
waterfront properties
Average Sales Price Waterfront Non-Waterfront
in 2013
38
2011
# transactions
$689
$580
$573
2010
Avg. Sale Price
$1,239
$1,214
2010 $6,523,875 $1,428,477
$500
55
$0
2013
non-waterfront properties
2011 $6,160,000 $1,668,184
2012 $6,998,625 $1,754,948
average $/SF
2013 $6,845,000 $2,211,873
A LL CO ND O S Average $/SF
250
W: +23% N: +45%
200
$570
150
# Transactions
100
W: +42% N: +76%
50
$600
$545
in 2013 compared to 2010-2012 avg.
$700
$645
$458
$500
$445 $375
$400
$286
$262
$300
in 2013 compared to 2010-2012 avg.
9
27
0
88
2010
# transactions
32
2011
waterfront properties
217
73
157
2012
67
$200
2013
non-waterfront properties
average $/SF
Avg. Sale Price
W: +8% N: +54% in 2013 compared to 2010-2012 avg.
Average Sales Price Waterfront Non-Waterfront
2010 $913,041 $278,778
2011 $1,120,685 $330,922
2012 $1,105,673 $550,395
2013 $1,125,631 $595,686 21
%
BRICKELL
CHANGE W: waterfront N: non-waterfront
AL L S I N G L E FA M I LY H O M E S 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 0
$400 $351
Average $/SF
N: +87% in 2013
$300
compared to 2010-2012 avg.
$251
# Transactions $200
N: +500% in 2013
$138
$173
compared to 2010-2012 avg.
1
1
4
12
2010
2011
2012
2013
$100
non-waterfront properties
# transactions
average $/SF
Avg. Sale Price
N: +3% Average Sales Price Non-Waterfront
2010 $420,000
2011 $2,250,000
2012 $490,500
2013 $1,087,908
in 2013 compared to 2010-2012 avg.
AL L CO ND O S Average $/SF
$382
800 $336
$336
700
$400 $337
600
$318
$310
$300
$250
$200
$198
300 200
$100
# Transactions
W: +83% N: +70% in 2013
100
21 31
3 94
0
6 421
2010
# transactions
202
2011
waterfront properties
Average Sales Price Waterfront Non-Waterfront 22
in 2013 compared to 2010-2012 avg.
500 400
W: -9% N: +33%
2010 $501,673 $207,823
756
379
2012
16 776
347
2013
non-waterfront properties
2011 $451,628 $244,879
$0
compared to 2010-2012 avg.
2012 $502,870 $291,043
2013 $590,115 $364,999
average $/SF
Avg. Sale Price
W: +22% N: +47% in 2013 compared to 2010-2012 avg.
% CHANGE
BRICKELL KEY & DOWNTOWN
W: waterfront N: non-waterfront
B R I C KE LL KE Y: CO ND O S
Average $/SF
W: +74% N: +68% in 2013 compared to 2010-2012 avg.
$479
200
160
in 2013 compared to 2010-2012 avg.
120
$307 $260
$261
$248
$240
$300
80 $247
$200
40
16
0
1
in 2013
2010 $335,781 $410,000
12
169
2012
waterfront properties
Average Sales Price Waterfront Non-Waterfront
5
89
2011
# transactions
W: +93% N: +51%
7
52
2010
Avg. Sale Price
$400
$412
# Transactions
W: +223% N: +177%
$500
$100
2013
non-waterfront properties
2011 $303,187 $233,143
2012 $343,809 $239,800
average $/SF
2013 $631,537 $445,773
compared to 2010-2012 avg.
D OWNTOWN: CO ND O S Average $/SF
W: -35% N: +45% in 2013 compared to 2010-2012 avg.
700
$400 $316
600 $274
500
$304
$273
$300
400 $240
# Transactions
200
in 2013
100
$100 21 27
3 49
0
6 302
2010
Avg. Sale Price
W: +39% N: +59% in 2013 compared to 2010-2012 avg.
$188
$180
W: +101% N: +109% compared to 2010-2012 avg.
$200
$207
300
# transactions
173
2011
581
2012
waterfront properties
Average Sales Price Waterfront Non-Waterfront
2010 $344,980 $186,296
16 624
316
359
non-waterfront properties
2011 $328,559 $173,154
$0
2013
2012 $369,304 $219,426
average $/SF
2013 $482,103 $306,225 23
%
MIDTOWN
CHANGE W: waterfront N: non-waterfront
MIDTOWN / B I S CAY N E CO R R I D O R: A LL CO ND O S 350
$400
$348
W: +68% N: +86%
300 250 200
$300
$332
$257
Average $/SF
in 2013 compared to 2010-2012 avg.
$189
$179
$200
$229
150
# Transactions
100
$158
$149
$100
50
21
18
15
6 137
0 2010
257
75
2011
2012
waterfront properties
# transactions
in 2013
16 305
153
W: +122% N: +148%
201
$0
2013
non-waterfront properties
compared to 2010-2012 avg.
average $/SF Avg. Sale Price
Average Sales Price Waterfront Non-Waterfront
2010 $241,168 $141,500
2011 $201,782 $161,545
2012 $275,270 $222,308
W: +59% N: +80%
2013 $381,154 $315,697
in 2013 compared to 2010-2012 avg.
?? ? 350 $348
$400
W: -33% N: +9%
300 250
$332
$257
200
Average $/SF
$300
in 2013 compared to 2010-2012 avg.
$189
$179
$200
$229
150
# Transactions
100
$158
$149
$100
50
21
18
15
6 137
0 2010
# transactions
75
2011
waterfront properties
257
in 2013
16 305
153
2012
W: +60% N: +59%
201
$0
2013
non-waterfront properties
compared to 2010-2012 avg.
average $/SF Avg. Sale Price
Average Sales Price Waterfront Non-Waterfront 24
2010 $1,531,047 $1,140,275
2011 $1,944,167 $1,005,875
2012 $1,416,720 $965,579
2013 $768,959 $1,131,017
W: -53% N: +9% in 2013 compared to 2010-2012 avg.
Wynwood Walls artwork by Retna
25
M I A M I
B E AC H
SOUTH BEACH / MID BEACH / NORTH BEACH / THE ISLANDS Miami Beach shines brightly on a global scale. In our firm’s markets from single-family homes to condominiums, the average $/sf has climbed more than 20%, as buyers of tropical retreats pay top dollar for a piece of the American Riviera. Last year’s resurgence in new residential developments has resulted in a real estate market that’s hotter than ever. This next wave vastly expands on “starchitecture” that projects such as Apogee and St. Regis Bal Harbour reintroduced to the island, which hasn’t seen this level of creativity and attention to detail since its Art Deco and Midcentury Modern heyday. These designers’ fresh, innovative concepts take luxury to an unprecedented height that factors in culture and lifestyle to high-end amenities, décor and location. 26
%
MIAMI BEACH
CHANGE W: waterfront N: non-waterfront
Average $/SF
W: +22% N: +38% in 2013 compared to 2010-2012 avg.
# Transactions
W: +48% N: +64% in 2013 compared to 2010-2012 avg.
A LL SI NG LE FA M I LY H O M E S $839
250
$800 $700
$609
$600 150
$500
$430 $339
100
$400
$317
$278
$300 $200
50 21 64
0
6 66
116
2010
Avg. Sale Price
$735
$722
200
$900
2011
Average Sales Price Waterfront Non-Waterfront
in 2013
179
116
2012
waterfront properties
# transactions
W: +12% N: +44%
111
2010 $2,936,434 $773,183
$100
16 121
222
$0
2013
non-waterfront properties
2011 $3,610,224 $953,575
2012 $3,988,183 $844,971
average $/SF
2013 $3,945,551 $1,230,851
compared to 2010-2012 avg.
A LL CO ND O S Average $/SF
W: +11% N: -1% in 2013 compared to 2010-2012 avg.
2000
$700 $593
1800
$584
$600
$523
1600 $456
$500
1400
$400
1200 $297
# Transactions
1000
W: +46% N: +67%
800
in 2013
400
compared to 2010-2012 avg.
200
$256
$252
$223
$300 $200
600 $100
21 1022
6 1000
450
2010
# transactions
497
2011
waterfront properties
1845
16 1883
984
2012
1072
$0
2013
non-waterfront properties
average $/SF
Avg. Sale Price
W: +19% N: +26% in 2013 compared to 2010-2012 avg.
Average Sales Price Waterfront Non-Waterfront
2010 $557,057 $165,290
2011 $635,495 $205,185
2012 $707,954 $239,634
2013 $752,708 $255,967 27
%
SOUTH BEACH
CHANGE W: waterfront N: non-waterfront
AL L CO ND O S 600
$1000 $871
$851
$900 $766
500
$800
$631
400
$700 $600
Average $/SF
W: -2% N: -16% in 2013 compared to 2010-2012 avg.
$500
300 $333
200
$250
$227
$228
$400
# Transactions
$300
W: +32% N: +95%
$200
100 83
0
21
27
6 325
2010
267
571
2011
2012
waterfront properties
# transactions
544
$100
16 430
545
$0
2013
non-waterfront properties
in 2013 compared to 2010-2012 avg.
average $/SF Avg. Sale Price
Average Sales Price Waterfront Non-Waterfront
2010 $737,231 $144,037
2011 $923,850 $181,872
2012 $911,687 $242,528
W: -14% N: +24%
2013 $734,248 $234,505
in 2013 compared to 2010-2012 avg.
S OUT H OF FI F TH: CO ND O S 300
$1400 $1103
250 $881
W: +65% $1200 $1000
200
Average $/SF
in 2013 compared to 2010-2012 avg.
$800 150
$576
$553
100
$600
# Transactions
$400
W: +136% in 2013
50
$200 15
0
2010
75
164
200
2011
2012
2013
waterfront properties
# transactions
compared to 2010-2012 avg.
$0
average $/SF Avg. Sale Price
Average Sales Price Waterfront
28
2010 $845,129
2011 $621,361
2012 $1,283,980
2013 $1,581,789
W: +73% in 2013 compared to 2010-2012 avg.
%
MID BEACH
CHANGE W: waterfront N: non-waterfront
Average $/SF
W: +28% N: +12%
A LL CO ND O S 600 $388
500
$364
in 2013 compared to 2010-2012 avg.
$400 $329
400 $300
$330 $300
300
# Transactions
$239
W: +88% N: +69%
200
in 2013
100
compared to 2010-2012 avg.
$200
$236
$100 21 3 53
0
6 297
5
2010
Avg. Sale Price
$500
$460
2011
Average Sales Price Waterfront Non-Waterfront
in 2013
16 544
85
2012
waterfront properties
# transactions
W: +28% N: +11%
519
41
74
non-waterfront properties
2010 $464,247 $196,400
2011 $400,298 $188,918
$0
2013
2012 $467,646 $202,828
average $/SF
2013 $568,881 $217,718
compared to 2010-2012 avg.
N ORT H B AY R OA D & P I NE TR E E D R I VE: SI NG LE FA M I LY HO MES Average $/SF
20
$1000
W: +64%
$979
in 2013 compared to 2010-2012 avg.
$745
$800
15
$600
$674
10
# Transactions
$400
W: +70% in 2013
$370
5
$200
compared to 2010-2012 avg.
0
Avg. Sale Price
W: +50% in 2013 compared to 2010-2012 avg.
4
10
9
13
2010
2011
2012
2013
# transactions
Average Sales Price Waterfront
waterfront properties
2010 $3,275,000
2011 $4,823,879
$0
average $/SF
2012 $6,302,778
2013 $7,194,615
29
%
NORTH BEACH
CHANGE W: waterfront N: non-waterfront
AL L CO ND O S 300
$600 $497
$500
$441
250
$400
$344
$325
200
Average $/SF
W: +34% in 2013 compared to 2010-2012 avg.
$300
# Transactions
150
$200
W: +94% in 2013
100
$100 26
142
258
276
2010
2011
2012
2013
0
$0
waterfront properties
# transactions
compared to 2010-2012 avg.
average $/SF
Avg. Sale Price
W: +28% Average Sales Price Waterfront
2010 $336,555
2011 $377,759
2012 $484,252
2013 $510,753
in 2013 compared to 2010-2012 avg.
BA L H AR B OUR: S I N G LE FA M I LY H O M E S $856
15
$900
$792
10
$493 $430
$406
5
$800
W: +33%* N: +21%
$700
in 2013
$600
compared to 2010-2012 avg.
$500
$406
$256
$400
# Transactions
$300
W: +100%* N: +15%
$200 21 0
0
6 3
4
2010
# transactions
2011
waterfront properties
Average Sales Price Waterfront Non-Waterfront 30
9
2010 NA $792,750
13
2
2012
$100
16 5
10
$0
in 2013 compared to 2010-2012 avg.
2013
non-waterfront properties
2011 $2,204,000 $1,316,611
Average $/SF
2012 $5,637,500 $1,580,963
*Compared to 2011-2012 avg. due to lack of sales in 2010.
average $/SF
2013 $3,550,000 $1,390,000
Avg. Sale Price
W: -9%* N: +13% in 2013 compared to 2010-2012 avg.
% CHANGE
NORTH BEACH & THE ISLANDS
W: waterfront N: non-waterfront
Average $/SF
W: +38% N: +35% in 2013 compared to 2010-2012 avg.
B A L H A R B O U R: CO ND O S 250
$600
$551
$500
$454
200
$422
$400
$324
150
$300
# Transactions
W: +112% N: +60% in 2013 compared to 2010-2012 avg.
100
$188 $117
50
$100 21 51
0
6 112
27
2010
Avg. Sale Price
$200
$153
$148
2011
Average Sales Price Waterfront Non-Waterfront
in 2013
56
189
2012
waterfront properties
# transactions
W: +49% N: +55%
26
16 249
58
non-waterfront properties
2010 $465,194 $123,170
2011 $636,545 $143,413
$0
2013
2012 $693,686 $160,585
average $/SF
2013 $892,679 $220,133
compared to 2010-2012 avg.
F I SH E R I SL A ND Average $/SF
100
$900
W: +23%
$874
$800
in 2013 compared to 2010-2012 avg.
$700
$777
$767
75
$600 $592
$500
50
# Transactions
$400
W: +56%
$300
in 2013
25
$200
compared to 2010-2012 avg.
$100 0
Avg. Sale Price
20
48
82
78
2010
2011
2012
2013
# transactions
waterfront properties
$0
average $/SF
W: +35% in 2013 compared to 2010-2012 avg.
Average Sales Price Waterfront
2010 $1,241,000
2011 $2,751,313
2012 $2,230,244
2013 $2,797,833 31
%
THE ISLANDS
CHANGE W: waterfront N: non-waterfront
PAL M / H I B I S CUS / STA R I SL A ND S 15
$1200
$1085
W: +15% N: -19%
$992
10
$900
$760
$733
Average $/SF
in 2013 compared to 2010-2012 avg.
$600 $413
# Transactions
$355
5
$278
$263
$300
W: +25% N: +25% in 2013
3
0
2
9
2010
4
12
2011
Average Sales Price Waterfront Non-Waterfront
10
2012
waterfront properties
# transactions
6
5
2011 $3,829,667 $997,058
compared to 2010-2012 avg.
2013
non-waterfront properties
2010 $2,691,667 $1,549,500
$0
2012 $7,515,250 $1,294,500
average $/SF
Avg. Sale Price
W: +15% N: -9%
2013 $5,391,675 $1,160,000
in 2013 compared to 2010-2012 avg.
T H E V E N E T I A N I SL A ND S 20
$1200
Average $/SF
W: +49%
$959
in 2013 15
$900
$775
$574
compared to 2010-2012 avg.
$586
10
$600
# Transactions 5
$300
0
3
8
16
15
2010
2011
2012
2013
# transactions
waterfront properties
W: +67% in 2013 compared to 2010-2012 avg.
$0
average $/SF Avg. Sale Price
W: +84% Average Sales Price Waterfront 32
2010 $1,741,667
2011 $2,933,125
2012 $3,589,594
2013 $5,068,333
in 2013 compared to 2010-2012 avg.
%
THE ISLANDS
CHANGE W: waterfront N: non-waterfront
Average $/SF
SU NSE T I SL A ND S 20
$1200
W: +54%
$1005
$979
in 2013 compared to 2010-2012 avg.
$813
15
$900
10
$600
5
$300
# Transactions
W: +29% in 2013
$168
compared to 2010-2012 avg.
1
0
2010
Avg. Sale Price
3
17
9
2011
2012
2013
waterfront properties
# transactions
$0
average $/SF
W: +63% Average Sales Price Waterfront
in 2013 compared to 2010-2012 avg.
2010 $1,600,000
2011 $4,391,667
2012 $6,626,541
2013 $6,875,889
L A GORCE Average $/SF
W: +223%
$1692
4
in 2013 compared to 2010-2012 avg.
$1800 $1500
3
$1200 $850
# Transactions
2
$900
W: +100% in 2013
$600
$722
1
compared to 2010-2012 avg.
$300 0
Avg. Sale Price
2
1
2
2011
2012
2013
waterfront properties
# transactions
$0
average $/SF
W: +343% in 2013 compared to 2010-2012 avg.
Average Sales Price Waterfront
2011 $9,050,000
2012 $5,750,000
2013 $21,875,000 33
%
THE ISLANDS
CHANGE W: waterfront N: non-waterfront
I N D I AN C R E E K
Average $/SF
$479
200
$500
W: +87% in 2013
160
$400
$412 120
compared to 2010-2012 avg.
$307 $260
$300
$261
80
# Transactions
W: +500% $248
$247
$240
$200
40
16
0
1
7
52
2010
2011
compared to 2010-2012 avg.
12
169
2012
waterfront properties
# transactions
5
89
in 2013
$100
2013
non-waterfront properties
average $/SF
Avg. Sale Price
W: +3% Average Sales Price Waterfront
2010 $420,000
2011 $2,250,000
2012 $490,500
2013 $1,087,908
in 2013 compared to 2010-2012 avg.
B AY H A R B O R 5
$1200
$1070
Average $/SF
W: +135% in 2013
4
$900
compared to 2010-2012 avg.
3
$600
$493
2
# Transactions
$356
$519
W: +150% $300
1
0
1
3
2
5
2010
2011
2012
2013
# transactions
waterfront properties
in 2013 compared to 2010-2012 avg.
$0
average $/SF
Avg. Sale Price
W: +290% Average Sales Price Waterfront 34
2010 $800,000
2011 $2,204,000
2012 $1,767,500
2013 $6,210,000
in 2013 compared to 2010-2012 avg.
35
MIAMI NORTH G O L D E N
B E A C H
/
S U N N Y
I S L E S
/
A V E N T U R A
Sunny Isles Beach and Aventura have been home to a wealth of new developments and privileged residents over recent years. Extensive views of the intracoastal waterways and the pristine Atlantic Ocean provide an idyllic setting for a home in the sky. The development of several high-end condominiums, such as Bellini in William’s Island, has elevated the standard of living in these communities and has driven prices above years past. Not to be overlooked, is the neighboring oceanfront town of Golden Beach, which offers extravagant living in beautiful single family homes. The town offers a mile long private beach, unsurpassed security with its own police department and an ideal location minutes from Miami and Fort Lauderdale. 36
% CHANGE
GOLDEN BEACH & SUNNY ISLES
W: waterfront N: non-waterfront
G OL D E N B E AC H: SI NG LE FA M I LY H O M E S
Average $/SF
W: +28% N: +77%
15
$1000
$913 $847
$900
$765
$800
in 2013 compared to 2010-2012 avg.
$700
10
$600 $500
# Transactions
W: +89% N: +15%
$302 $393 $225
$218 2
0
6 12
2
2010
Avg. Sale Price
$300 $200
in 2013 compared to 2010-2012 avg.
$400
5
$100
16 12
6
5
2011
Average Sales Price Waterfront Non-Waterfront
in 2013
5
2012
waterfront properties
# transactions
W: +19% N: +79%
21 $223
5
non-waterfront properties
2010 $3,901,000 $567,500
2011 $2,917,500 $692,000
$0
2013
2012 $5,132,600 $1,205,833
average $/SF
2013 $4,733,958 $1,307,000
compared to 2010-2012 avg.
SU NNY I SLE S: CO ND O S Average $/SF
1000
$450
W: +17% in 2013
$433
$421
800
$350
compared to 2010-2012 avg.
$340
$354
$300
600
# Transactions
$250 $200
400
$150
W: +75% in 2013
$400
$100
200
$50
compared to 2010-2012 avg.
0
76
397
817
751
2010
2011
2012
2013
# transactions
waterfront properties
$0
average $/SF
Avg. Sale Price
W: +28% in 2013 compared to 2010-2012 avg.
Average Sales Price Waterfront
2010 $546,310
2011 $531,374
2012 $636,968
2013 $731,979 37
%
AVENTURA
CHANGE W: waterfront N: non-waterfront
AL L S I N G L E FA M I LY H O M E S
Average $/SF $375
30
$400
$332
$350
$307
W: +28% N: +14% in 2013
$300 $239
20
$250
$266 $238
$233
$230
10
compared to 2010-2012 avg.
$200
# Transactions
$150
W: +84% N: +54%
$100
in 2013 21 19
0
6 10
12
2010
8
2011
2012
waterfront properties
# transactions
Average Sales Price Waterfront Non-Waterfront
16 30
15
20
$50 18
2013
non-waterfront properties
2010 $1,014,351 $598,333
2011 $625,700 $722,250
$0
compared to 2010-2012 avg.
2012 $996,700 $656,045
average $/SF
Avg. Sale Price
W: +26% N: +13%
2013 $1,103,275 $747,391
in 2013 compared to 2010-2012 avg.
AL L CO ND O S 1000
$300
Average $/SF
W: -61% $233
800 $227
600
$219
$250
in 2013
$200
compared to 2010-2012 avg.
$150
# Transactions
400
$100 $89
200
0
475
465
959
939
2010
2011
2012
2013
waterfront properties
# transactions
$50
W: +48% in 2013 compared to 2010-2012 avg.
$0
average $/SF Avg. Sale Price
W: +31% Average Sales Price Waterfront 38
2010 $377,961
2011 $356,359
2012 $390,097
2013 $489,324
in 2013 compared to 2010-2012 avg.
39
48