Trends 2013-2014 Market Report by Jorge Fernandez

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.

Jorge Fernandez Sales Associate

305-216-0237 jorge.fernandez@sothebysrealty.com

03

Look for #ONEretrend for more statistics throughout the year. facebook.com/onesothebysrealty

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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

52

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

54

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 84

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

56

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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1. Brazil 2. Colombia 3. Canada 4. India 5. Argentina

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6. Michigan 7. Pennsylvania 8. Virginia 9. New Jersey 10. North Carolina

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Top International Markets

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Top National Markets

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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

58

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

Massachusetts Michigan Minnesota Missouri Montana Nevada New Hampshire New Jersey

New Mexico New York North Carolina Ohio Oregon Pennsylvania Rhode Island South Carolina

Tennessee Texas Utah Vermont Virginia Washington Wyoming

Sotheby’s International Realty | International Affiliates by Country | 318 offices - 55 countries Anguilla Argentina Aruba Australia Bahamas Barbados Belgium Bermuda Brazil Canada Cayman Islands

Costa Rica Cyprus Czech Republic Dominican Rep. Estonia France Germany Gibraltar Greece Hong Kong Israel

Italy Japan Latvia Lithuania Malta Mexico Monaco Morocco New Zealand Panama Peru

Philippines Portugal Puerto Rico Russia Saint Barts Saint Lucia Saudi Arabia Slovakia South Africa Spain Sweden

Switzerland Taiwan Thailand Turkey Turks and Caicos United Arab Emirates United Kingdom Uruguay Vietnam Virgin Islands (Brit.)

Virgin Islands (U.S.)

©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.

59

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