Darin Tansey Group | New Development Property Collection

from Darin Tansey Group | New Development Property Collection | Q3 2018

by Darin Tansey | Executive Director of Luxury Sales

DARIN TANSEY GROUP

DOUGLAS ELLIMAN NEW DEVELOPMENT PROPERTY COLLECTION

**NEW DEVELOPMENT | MOVE-IN READY DECEMBER 2018**

THE RITZ-CARLTON RESIDENCES, MIAMI BEACH

**4701 MERIDIAN AVENUE | MIAMI BEACH, FL**

EQUAL HOUSING OPPORTUNITY. THE RITZ-CARLTON RESIDENCES, MIAMI BEACH ARE NOT OWNED, DEVELOPED OR SOLD BY THE RITZ-CARLTON HOTEL COMPANY, L.L.C. OR ITS AFFILIATES (“RITZ-CARLTON”). 4701 NORTH MERIDIAN, L.L.C. USES THE RITZ-CARLTON MARKS UNDER A LICENSE FROM RITZ-CARLTON, WHICH HAS NOT CONFIRMED THE ACCURACY OF ANY OF THE STATEMENTS OR REPRESENTATIONS MADE HEREIN. THIS GRAPHIC IS AN “ARTIST’S RENDERING” AND IS FOR CONCEPTUAL PURPOSES ONLY. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH OFFER OR SOLICITATION CANNOT BE MADE. PRICES, PLANS AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. ADDITIONALLY, FOR NEW YORK OFFEREES, THE COMPLETE OFFERING TERMS ARE AVAILABLE IN AN OFFERING PLAN AVAILABLE FROM SPONSOR. CD16-0120.

1 HOTEL & HOMES SOUTH BEACH

**102 24TH STREET | MIAMI BEACH, FL | STARTING AT $3,100,000**

EQUAL HOUSING OPPORTUNITY. THIS OFFERING IS MADE ONLY BY THE PROSPECTUS FOR THE CONDOMINIUM AND NO STATEMENT SHOULD BE RELIED UPON IF NOT MADE IN THE PROSPECTUS. FOR NEW YORK PURCHASERS ONLY, REFERENCE SHOULD BE MADE TO THE CPS-12 APPLICATION FOR THE CONDOMINIUM FILED WITH THE STATE OF NEW YORK, DEPARTMENT OF LAW FILE NO. CP16-0063.

AKOYA

**20155 BOCA WEST DRIVE | BOCA RATON, FL | STARTING AT $900,000**

WE ARE PLEDGED TO THE LETTER AND SPIRIT OF THE U.S. POLICY FOR THE ACHIEVEMENT OF EQUAL HOUSING OPPORTUNITY THROUGHOUT THE NATION. WE ENCOURAGE AND SUPPORT AN AFFIRMATIVE ADVERTISING AND MARKETING PROGRAM IN WHICH THERE ARE NO BARRIERS TO OBTAINING HOUSING BECAUSE OF RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS OR NATIONAL ORIGIN. ORAL REPRESENTATION CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATION MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUES, TO BE FURNISHED BY A DEVELOPER TO A BUYER. OBTAIN THE PROPERTY REPORT REQUIRED BY FEDERAL LAW AND READ IT BEFORE SIGNING ANYTHING. NO FEDERAL AGENCY HAS JUDGED THE MERITS OR VALUE, IF ANY, OF THIS PROPERTY. ALL FEATURES, DIMENSIONS, DRAWINGS, GRAPHIC MATERIAL, PICTURES, CONCEPTUAL RENDERINGS, PLANS AND SPECIFICATIONS ARE NOT NECESSARILY AN ACCURATE DEPICTION AND ARE SUBJECT TO CHANGE WITHOUT NOTICE, AND DEVELOPER EXPRESSLY RESERVES THE RIGHT TO MAKE MODIFI- CATIONS. ALL PRICES ARE SUBJECT TO CHANGE WITHOUT NOTICE. ALL IMPROVEMENTS, DESIGN AND CONSTRUCTION ARE SUBJECT TO FIRST OBTAINING APPROPRIATE PERMITS AND APPROVALS. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH CANNOT BE MADE.

VISTABLUE

**3730 NORTH OCEAN DRIVE SINGER ISLAND, FL | STARTING AT $1,600,000**

ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.IN NEW YORK, THE COMPLETE OFFERING TERMS ARE IN A FLORIDA PROSPECTUS AVAILABLE FROM DEVELOPER. A CPS-12 APPLICATION HAS BEEN ACCEPTED IN NEW YORK AS FILE NO. CP-160073.

RIVA FORT LAUDERDALE

**1180 NORTH FEDERAL HIGHWAY | FORT LAUDERDALE, FL 33304 | STARTING AT $700,000**

GALLERIA LOFTS

**1025 NORTHEAST 18 AVENUE | FORT LAUDERDALE, FL | STARTING AT $500,000**

ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY THE DEVELOPER TO A BUYER OR LESSEE. THESE MATERIALS DO NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY A UNIT IN GALLERIA LOFTS, A CONDOMINIUM (THE “CONDOMINIUM”). NO SOLICITATION, OFFER OR SALE OF A UNIT IN THE CONDOMINIUM WILL BE MADE IN ANY STATE OR COUNTRY IN WHICH SUCH ACTIVITY WOULD BE UNLAWFUL PRIOR TO ANY REQUIRED REGISTRATION IN SUCH JURISDICTION, AND NO STATEMENT HEREIN SHOULD BE CONSTRUED AS OR RELIED UPON AS A REPRESENTATION OR GUARANTEE. ALL OFFERS AND INCENTIVES HEREIN (“OFFERS”) ARE SUBJECT TO ADDITIONAL TERMS, CONDITIONS AND RESTRICTIONS. OFFERS ARE GOOD FOR A LIMITED TIME ONLY AND SUBJECT TO AVAILABILITY. GALLERIA LOFTS, LLC, A FLORIDA LIMITED LIABILITY COMPANY (THE “DEVELOPER”) RESERVES THE RIGHT TO CHANGE OR WITHDRAW ANY OFFER AT ANY TIME, WITHOUT NOTICE. OFFERS ARE SPECIFIC TO THE CONDOMINIUM AND MAY NOT BE COMBINED WITH OTHER OFFERS. ALL OFFERS ARE VOID WHERE PROHIBITED BY LAW AND IN STATES WHERE PRIOR REGISTRATION IS REQUIRED.

DOUGLAS ELLIMAN REAL ESTATE

PROVEN TRACK RECORD OF SERVING THE REAL ESTATE NEEDS OF OUR CLIENTS WORLDWIDE

Douglas Elliman Sports & Entertainment is a curated, sales division that provides an elite level of real estate brokerage services for clients within the sports and entertainment industries, as well as ultra-high net-worth parties.

Our Sports & Entertainment team is comprised of real estate agents who have an extensive history of working with professional athletes and celebrities, as well as the reputation for tending to every need involved with their transactions. This highly-specialized and personalized division is the first of its kind to be created under one cohesive brand that offers unparalleled international reach.

WE DELIVER THE INTERNATIONAL BUYER

Douglas Elliman Real Estate and Knight Frank Residential’s global alliance has resulted in thelargest interactive and connected network for luxury residential properties in the world.

Our alliance is a testament to our shared history, vision, and commitment to our clientele.With the best agents, the finest international properties, and in depth global market analysis,we are offering our customers a truly seamless experience whether they’re in Malibu,Manhattan or Moscow.

We attract the most qualified buyers from all over the world. Douglas Elliman’s alliance withKnight Frank Residential allows us to connect you to the right buyer, no matter where they live.

MONAD TERRACE 1300 -1375 Monad Terrace Miami Beach, FL 33139

EIGHTY SEVEN PARK BY RENZO PIANO BUILDING WORKSHOP 8701 Collins Avenue Miami Beach, FL 33154

FOUR SEASONS PRIVATE RESIDENCES FORT LAUDERDALE 525 North Fort Lauderdale Fort Lauderdale, FL 33304

321 AT WATER’S EDGE 321 North Birch Road Fort Lauderdale, FL 33304

THE WAVE ON BAYSHORE 620 Bayshore Drive Fort Lauderdale, FL 33304

33 INTRACOASTAL 2895 Northeast 33 RD Court Fort Lauderdale, FL 33306

THIS PROJECT IS BEING DEVELOPED BY 2701 BAYSHORE ONE PARK GROVE, LLC, A FLORIDA LIMITED LIABILITY COMPANY (“DEVELOPER”). ALL IMAGES AND DESIGNS DEPICTED HEREIN ARE ARTIST’S CONCEPTUAL RENDERINGS, WHICH ARE BASED UPON PRELIMINARY DEVELOPMENT PLANS, AND ARE SUBJECT TO CHANGE WITHOUT NOTICE IN THE MANNER PROVIDED IN THE OFFERING DOCUMENTS. NO GUARANTEES OR REPRESENTATIONS WHATSOEVER ARE MADE THAT EXISTING OR FUTURE VIEWS FROM A UNIT OR OF THE PROJECT AND SURROUNDING AREAS WILL BE PROVIDED OR, IF PROVIDED, WILL BE AS DEPICTED HEREIN. ALL FIXTURES, FURNITURE AND ITEMS OF FINISH AND DECORATION OF RESIDENCES SHOWN ARE FOR DISPLAY ONLY AND MAY NOT TO BE INCLUDED WITH THE UNIT, UNLESS EXPRESSLY PROVIDED IN THE PURCHASE AGREEMENT. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH CANNOT BE MADE. ALL RIGHTS RESERVED.

3550 SOUTH OCEAN 3550 South Ocean Boulevard Palm Beach, FL 33480

THE RESIDENCES AT MANDARIN ORIENTAL, BOCA RATON 10 East Boca Raton Road Boca Raton, FL 33432

THE BRISTOL 1101 South Flagler Drive West Palm Beach, Florida 33401

CONTACT ME FOR ADDITIONAL INFORMATION OR INQUIRES

DARIN TANSEY

SENIOR DIRECTOR OF LUXURY SALES

MOBILE: 305.924.4100 | DARIN.TANSEY@ELLIMAN.COM

ELLIMAN Q3 REPORT 2018

REPORT Highlights Q3

MIAMI BEACH/BARRIER ISLANDS SALES

FORT LAUDERDALE SALES

The market continued to show rising price trends, modest inventory growth and a surge in sales.

The improving conditions continued with surging sales, shorter marketing times and less negotiability.

Miami Beach Matrix

Q3-2018

%∆ (qtr)

Q2-2018

%∆ (yr)

Q3-2017

Average Sales Price

$979,382

-10.8%

$1,098,024

15.3%

$849,439

Average Price per Sq Ft

$656

-7.5%

$709

12.1%

$585

Median Sales Price

$395,000

-9.8%

$438,000

-1.3%

$400,000

Number of Sales (Closed)

808

-21.2%

1,025

50.7%

536

Days on Market (From Last List Date)

149

0.7%

148

4.2%

143

Listing Discount (From Last List Price)

10.3%

11.0%

8.9%

Listing Inventory (Active)

6,089

-3.6%

6,319

3.3%

5,895

Absorption Rate (Months)

22.6

22.2%

18.5

-31.5%

33.0

Miami Beach - Luxury Condo Matrix

Q3-2018

%∆ (qtr)

Q2-2018

%∆ (yr)

Q3-2017

Average Sales Price

$3,431,622

-23.0%

$4,456,177

20.5%

$2,846,805

Average Price Per Square Foot

$1,235

-13.4%

$1,426

11.4%

$1,109

Median Sales Price

$2,542,500

-24.6%

$3,370,000

33.8%

$1,900,000

Number of Sales (Closed)

-24.7%

52.2%

Days on Market (From Last List Date)

174

-11.2%

196

-6.5%

186

Listing Discount (From Last List Price)

11.0%

12.7%

8.9%

Miami Beach- Luxury Single Family Matrix

Q3-2018

%∆ (qtr)

Q2-2018

%∆ (yr)

Q3-2017

Average Sales Price

$11,703,318

-8.8%

$12,828,750

98.5%

$5,894,444

Average Price Per Square Foot

$1,463

6.7%

$1,371

59.2%

$919

Median Sales Price

$11,100,000

3.2%

$10,760,000

117.6%

$5,100,000

Number of Sales

-8.3%

22.2%

Days on Market (From Last List Date)

308

17.6%

262

16.2%

265

Listing Discount (From Last List Price)

14.6%

16.5%

12.7%

There were 808 overall market sales, up 50.7% more than the year-ago quarter. Listing inventory edged

3.3% higher to 6,089 listings.

Days on market, the number of days from the last price change, if any, to the contract date edged up 4.2%

to 149 days. Listing discount, the percentage difference between the asking price at the time of contract

and the contract price rose to 10.3% from 8.9% in the same period a year ago.

Price trend indicators showed mixed results as sales drifted to larger sized units. This was evidenced by the

growth in the 3-bedroom and 4-bedroom condo market share.

Ft. Lauderdale Market Matrix (Condos/TH)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$422,177

-14.6%

$494,226

2.7%

$410,988

Average Price per Sq Ft

$314

-3.7%

$326

5.0%

$299

Median Sales Price

$293,800

-23.9%

$386,000

-2.1%

$300,000

Number of Sales (Closed)

511

-36.5%

805

23.7%

413

Days on Market (From Last List Date)

101

23.2%

-1.0%

102

Ft. Lauderdale Market Matrix (Single Family)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$595,591

-17.1%

$718,254

-8.7%

$652,425

Average Price per Sq Ft

$324

-5.5%

$343

-0.3%

$325

Median Sales Price

$349,000

-11.6%

$395,000

5.0%

$332,500

Number of Sales

485

-8.7%

531

7.8%

450

Days on Market (From Last List Date)

-1.3%

-9.5%

Luxury Market Matrix (Condos/TH)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$1,373,894

-6.9%

$1,475,104

10.0%

$1,249,001

Average Price per Sq Ft

$561

-3.9%

$584

8.9%

$515

Median Sales Price

$1,300,000

1.4%

$1,281,600

18.2%

$1,100,000

Number of Sales (Closed)

-35.8%

13.0%

Days on Market (From Last List Date)

156

77.3%

0.0%

156

Luxury Market Matrix (Single Family)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$2,424,627

-15.7%

$2,874,503

-7.1%

$2,611,315

Average Price per Sq Ft

$610

3.6%

$589

6.8%

$571

Median Sales Price

$1,625,000

-28.3%

$2,265,500

-18.8%

$2,000,000

Number of Sales

-12.5%

-10.9%

Days on Market (From Last List Date)

153

-8.4%

167

-25.4%

205

The number of condo sales surged 23.7% to 511, and the number of single-family sales rose 7.8% to 485 from

the year-ago quarter.

Listing inventory showed no year over year growth in the condo market. Single-family listing inventory rose by 5%

over the same period.

The median sales price for condos slipped 2.1% to $293,800, and the median sales price for single families

increased 5% to $349,000 respectively from the year-ago quarter.

FOR A COMPLETE VERSION OF THE ELLIMAN REPORT WWW.ELLIMAN.COM/MARKETREPORTS

LEADERS IN FLORIDA REAL ESTATE MARKET REPORTS

REPORT

Highlights

2018

BOCA RATON SALES

of the Quarterly Survey of Boca Raton & Highland Beach Sales

REPORT

Highlights

2018

PALM BEACH SALES

of the Quarterly Survey of Palm Beach Residential Sales

Sales trends, which lead price trends, saw pronounced increases across property types.

Sales activity posted strong results for the quarter, primarily assisted by the condominium market.

Boca Raton Market Matrix (Condos/TH)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$303,605

-13.0%

$349,111

1.3%

$299,667

Average Price per Sq Ft

$193

-9.8%

$214

3.8%

$186

Median Sales Price

$225,000

2.3%

$220,000

12.5%

$200,000

Number of Sales (Closed)

783

-9.0%

860

17.0%

669

Days on Market (From Last List Date)

2.8%

-7.5%

Boca Raton Market Matrix (Single Family)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$676,658

-3.6%

$702,277

12.2%

$603,096

Average Price per Sq Ft

$199

-1.0%

$201

7.6%

$185

Median Sales Price

$447,500

-2.2%

$457,500

1.7%

$440,000

Number of Sales

654

-9.3%

721

7.0%

611

Days on Market (From Last List Date)

-1.3%

1.3%

Luxury Market Matrix (Condos/TH)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$1,051,614

-24.6%

$1,394,111

-10.7%

$1,177,840

Average Price per Sq Ft

$425

-10.7%

$476

3.4%

$411

Median Sales Price

$750,000

-28.7%

$1,051,250

-16.7%

$900,000

Number of Sales (Closed)

-10.2%

17.9%

Days on Market (From Last List Date)

120

-6.3%

128

-13.7%

139

Luxury Market Matrix (Single Family)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$2,459,430

-5.6%

$2,605,203

30.9%

$1,878,272

Average Price per Sq Ft

$353

-3.6%

$366

5.4%

$335

Median Sales Price

$1,676,250

-11.8%

$1,900,000

21.5%

$1,380,000

22.5%

142

6.1%

164

The number of condos sales jumped 17% to 783, and the number of single-family sales rose 7% to 654 respectively from the

same period last year. Over the same period listing inventory also showed gains.The median sales price for condos rose 12.5%

to $225,000, and median sales price for single families increased 1.7% to $447,500. By relying on price per quarter foot as a

price trend indicator less influenced by substantial changes in sales size, luxury condo prices moved 3.4% higher, and luxury

single-family prices rose 5.4% higher respectively from the same period a year ago.

Palm Beach Market Matrix (Condos/TH)

Q3–2018

%∆ (qtr)

The third quarter sales total of both condo and single-family sales was the most in five years. Condo market share

was the highest since the financial crisis, playing a significant role in boosting market activity.

Condo listing inventory reversed from the prior quarter and rose 7.7% to 252, the second year over year increase

in 2018. However, single-family listing inventory declined for the fifth consecutive quarter, down 11% to 113.

The median sales price for condos rose 11.4% to $440,000, and the median sales price for single-families increased

FOR A COMPLETE VERSION OF THE ELLIMAN REPORT WWW.ELLIMAN.COM/MARKETREPORTS

DARIN TANSEY GROUP

DARIN TANSEY | SENIOR DIRECTOR OF LUXURY SALES MOBILE: 305.924.4100 | DARIN.TANSEY@ELLIMAN.COM DARINTANSEY.COM

This article is from:

Darin Tansey Group | New Development Property Collection | Q3 2018