$100,000$100,000 $0 $006
2Q-2012
06
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08
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10
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1112
1,000 0 12
1,000 0
US$100.000 US$100.000 US$0
English English
06
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07
No. of Sales No. of Sales
$250,000$250,000 0 $210,000$250,000 $210,000 2,500 2Q 11 SINGLE 3Q 2Q1111 4Q 3Q11 11 1Q 4Q1211 2Q 1Q1212 0 2Q 12 2,500 2Q 11 3Q 2Q1111 4Q 3Q1111 1Q 4Q1211 2Q 1Q1212 02Q 12 0 $250,000 SINGLE FAMILY FAMILY 2,000 $230,000 $230,000 Note: This category excludes all foreclosure and short sales.2,000 The data is also contained within the other markets presented. 1,500 1,500 $210,000$210,000 1,000 1,000 $190,000$190,000 Distressed (Condos) 2Q-2012 % Chg (qrt) Median 1Q-2012 ChgNo. (yr)of Sales 2Q-2011 Median Median Sales Price Sales Price No. of Sales Median Sales Price Sales % Price No.500 of Sales No. of Sales 500 $170,000 $170,000 Average Sales Price $149,751 11.9% $133,858 14.4% $130,883 $120,000 $120,000 2,500 2,500 $155,000 $155,000 1,500 1,500 DISTRESSED CONDOS DISTRESSED SINGLE FAMILY DISTRESSED CONDOS DISTRESSED SINGLE FAMILY •N umber of sales continued to fall $150,000$150,000 0 0 2Q 11 Price 3Q 2Q11 11 4Q 3Q11Ft 11 1Q 4Q1211 2Q 1Q1212 2Q 12 Average Per Sq $139 $150,000 9.4% $127 10.3% $126 1,200 $110,000 $110,000 2,000 2,000 $150,000 1,200 sharply There were 2,254 condo Median Sales Price $100,000 5.3% $95,000 8.4% $92,230 $100,000$100,000 1,500 1,500 $145,000$145,000 900 900 and single family sales in the second Number of Sales 1,346 -2.0% 1,374 -31.9% 1,977 1,000 1,000 $140,000$140,000 600 600 $90,000 $90,000 quarter, 25% less than 3,005 in the Days on Market (From LastNo. List of Date) -3.0% Median 100 Price 16.9% Median Median Sales Price Sales Price Median Sales Price Sales Sales No. 500 of Sales500 97 $135,000 No. of Sales No. 300 of 83 Sales300 $135,000 $80,000 $80,000 prior year quarter. Market share fell to $310,000 Listing Discount (From LastCONDOS List Price) -1.0% $350,000 3.2% 2.9% $350,000 2,500 2,500 $310,000 NON-DISTRESSED NON-DISTRESSED CONDOS NON-DISTRESSED NON-DISTRESSED SINGLE FAMILY SINGLE1,500 FAMILY 1,500 02Q 12 0 $130,000$130,000 02Q 12 0 $70,000 $70,000 2Q 11 3Q 2Q 11 11 4Q 3Q 11 11 1Q 4Q 12 11 2Q 1Q 12 12 2Q 11 3Q 2Q 11 11 4Q 3Q 11 11 1Q 4Q 12 11 2Q 1Q 12 12 qrt yr Distressed (Single Family) 2Q-2012 % Chg ( ) 1Q-2012 % Chg ( ) 2Q-2011 1,200 1,200 40.6% of all sales from its most recent $290,000$290,000 2,000 2,000 $330,000 $330,000 Average Sales Price $177,812 -4.5% $186,251 -9.0% $195,304 $310,000$310,000 peak of 64.7% in the first quarter of 1,500 1,500 900 900 $270,000 $270,000 Average Price Per Sq Ft -6.1% -8.9% $101 600 $290,000 $98 600 1,000 1,000$92 $290,000 2011. This lower share of distressed $250,000 $250,000 Median Sales Price $145,000 $270,000 0.0% $145,000 2.1% $142,000 $270,000 300 300 500 500 $230,000 $230,000 sales has driven overall price metrics Number of Sales 908 7.3% 846 -11.7% 1,028 $250,000 $250,000 $210,000$210,000 sharply higher. 2Q 11 3Q 2Q1111 4Q 3Q1111 1Q 4Q1211 2Q 1Q1212 02Q 12 0 2Q 11 3Q 2Q1111 4Q 3Q1111 1Q 4Q1211 2Q 1Q1212 02Q 12 0 Days on Market (From Last List Date) 88 -2.2% 90 6.0% 83 Listing Discount (From Last List Price) 4.3% 6.1% 4.7% •D espite drop in sales, price
Distressed
indicators continued to rise The
Median Median Sales Price Sales Price No. of Sales No. of Sales $120,000$120,000 DISTRESSED DISTRESSED CONDOSCONDOS2,500 $110,000$110,000 2,000 $100,000$100,000 1,500 1,000 $90,000$90,000 500 $80,000$80,000 $70,000$70,000 2Q 11 3Q 2Q1111 4Q 3Q1111 1Q 4Q1211 2Q 1Q1212 02Q 12
2,500 2,000 1,500 1,000 500 0
Median Median Sales Price Sales Price No. of Sales No. of Sales 1,500 1,500 $155,000$155,000 DISTRESSED SINGLE FAMILY DISTRESSED SINGLE FAMILY 1,200 1,200 $150,000$150,000 900 900 $145,000$145,000 600 600 $140,000$140,000 300 300 $135,000$135,000 $130,000$130,000 2Q 11 3Q 2Q1111 4Q 3Q1111 1Q 4Q1211 2Q 1Q1212 02Q 12 0
Note: This category is comprised of foreclosure and short sales. The data is also contained within the other markets presented.
©2012 Douglas Elliman Florida LLC and Miller Samuel Inc. All worldwide rights reserved.
Miller Samuel Inc. Real Estate Appraisers & Consultants 21 West 38th Street New York, NY 10018 212.768.8100 / millersamuel.com
For more information or electronic copies of this report please visit ellimanflorida.com. Email report author Jonathan J. Miller at jmiller@millersamuel.com with questions or comments. Methodology: http://www.millersamuel.com/research-reports/methodology
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The Coastal Communities of Miami, Florida Miami-Dade Aventura, Bal Harbour, Bay Harbor Islands, Coconut Grove, Coral Gables, Downtown, Fisher Island, Golden Beach, Indian Creek, Key Biscayne, Miami Beach, North Bay Village, Palmetto Bay, Pinecrest, South Beach, South Miami, Sunny Isles and Surfside.
Miami
2Q-2012
Número de Número vendasdeofvendas Quarterly Survey Miami Coastal Community Sales
Preço médio Preço de médio vendas de trimestrais vendas trimestrais 5.000 US$200.000 US$200.000 CONDOMÍNIOS CONDOMÍNIOS 4.000 US$176.000 US$176.000 US$700.000 US$700.000 US$152.000 US$152.000 3.000 US$600.000 US$600.000 2.000 US$128.000 US$128.000 US$500.000 US$500.000 1.000 US$104.000 US$104.000 US$400.000 US$400.000 US$80.000 US$80.000 2T 11 3T2T 1111 4T3T 1111 1T4T 1211 2T1T 1212 0 2T 12 US$300.000 US$300.000
NumberNumber of Salesof Sales
Non–Distressed
Douglas Elliman Florida Real Estate 1111 Lincoln Road, Suite 805 Miami Beach, FL 33139 305.695.6300 / ellimanflorida.com
08
0
MIAMI, Florida Preço mediano Preço de mediano vendasde vendas
4,000 4,000 $180,000 $180,000 7,000 7,000 $700,000 $700,000 3,000 3,000 $160,000 $160,000 6,000 6,000 $600,000 $600,000 2,000 2Q-2012 2,000 yr) $140,000 $140,000 Non-Distressed (Condos) % Chg (qrt) 1Q-2012 % Chg (5,000 2Q-2011 5,000 $500,000 $500,000 1,000 $483,385 1,000 $120,000 $120,000 Average Sales Price 10.3% $438,345 -2.7% $496,996 4,000 4,000 •P rice indicators were mixed across $400,000$400,000 $100,000 $100,000 Average Per Sq Ft 10.4% $328 1.7% $356 2Q 11 Price 3Q 2Q11 11 4Q 3Q11 11 1Q 4Q1211 2Q 1Q1212 0 2Q 12 0 $362 3,000 3,000 property types The median sales price$300,000$300,000 Median Sales Price $275,000 7.4% $256,000 3.8% $265,000 2,000 2,000 of a condo increased 3.8% to $275,000$200,000$200,000 Number of Sales 2,201 35.6% 1,623 33.6% 1,647 1,000 1,000 $100,000 $100,000 from the prior year quarter, while the Days on Market (From Last List Date) 47 2.2% 46 -4.1% 49 0 0 Median Median Sales Sales Price No.07 $0 $006 Price of Sales No. of Sales single family median sales price slipped 06 08 09 10 11 12 Listing Discount (From07 Last List Price)08 7.4% 09 10 8.3% 11 12 10.5% 2,500 2,500 $250,000$250,000SINGLE SINGLE FAMILY Non-Distressed (Single Family)FAMILY 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011 0.9% to $324,500 over the same period. 2,000 2,000 $230,000$230,000 Average Sales Price $718,467 26.1% $569,673 8.8% $660,118 1,500 1,500 $210,000$210,000 •T he number of sales jumped from Average Price Per Sq Ft $269 17.5% $229 7.6% $250 1,000 1,000 $190,000$190,000 prior year levels Single family sales Median Sales Price $324,500 8.2% $300,000 -0.9% $327,500 500 500 $170,000 were up 18.6% to 1,104 from the same $170,000 Median Median Sales Sales Price No. of Sales No. of Sales 1,104 Number of Price Sales 43.9% 767 18.6% 931 $150,000$150,000 02Q 12 0 2Q 11 3Q 2Q 11 11 4Q 3Q 11 11 1Q 4Q 12 11 2Q 1Q 12 12 period last year. Condos saw a larger $200,000 $200,000 Days on Market (From Last List Date) 5,000 5,000 54 3.8% 52 1.9% 53 CONDOS CONDOS $180,000 $180,000 Listing Discount (From Last List Price) 4,000 4,000 10.8% 10.8% 12.5% gain, rising 33.6% to 2,201 units over 3,000 3,000 the same period. Falling mortgage rates $160,000$160,000 2,000 2,000 $140,000 $140,000 Median Median Sales Price Sales Price Median Median Sales Price Sales Price No. of Sales No. of Sales No. of Sales No. of Sales and strong demand from foreign buyers 1,000 1,000 $120,000$120,000 $350,000$350,000 2,500 2,500 $310,000 $310,000 NON-DISTRESSED NON-DISTRESSED CONDOSCONDOS NON-DISTRESSED NON-DISTRESSED SINGLE FAMILY SINGLE1,500 FAMILY 1,500 has continued to drive this market 02Q 12 02,000 $100,000 $100,000 1,200 1,200 $330,000$330,000 $290,000 $290,000 2Q 11 3Q 2Q1111 4Q 3Q1111 1Q 4Q1211 2Q 1Q1212 2,000 segment. As a result of the increase $310,000$310,000 1,500 1,500 900 900 $270,000$270,000 in sales, the non-distressed market $290,000$290,000 600 600 1,000 1,000 $250,000$250,000 accounted for 59.5% of all sales, its $270,000 $270,000 300 300 500 500 $230,000 $230,000 Median Median Sales Price Sales Price
median sales price of a distressed condo increased 8.4% to $100,000 from the prior year quarter. The median sales price of a single family home increased 2.1% to $145,000 over the same period.
08
1.000
0
S
The Elliman Report • Quarterly Survey of Miami Coastal Community Sales
largest market share in two years.
07
1.000
Portugues Portugues
Median Median Sales Price Sales Price No. of Sales No. of Sales Quarterly Quarterly Average Average Sales Price Sales Price MIAMI MIAMI $200,000 $200,000 CONDOS CONDOS 5,000 5,000
Douglas Elliman Florida LLC. ©2012
US$0
MIAMI MIAMI 5.000
NúmeroNúmero de vendas de vendas
4.000
7.000
7.000
3.000
6.000
6.000
2.000
5.000
5.000
4.000
4.000
$ $$ $$ $$ $ $
3.000
3.000
$
2.000 1.000
2.000 1.000
$
1.000 0
US$200.000 US$200.000 US$100.000 US$100.000 PreçoUS$0 mediano PreçoUS$0 de mediano vendasde vendas 06
06
07
Miami Market Matrix Número de Número vendasde vendas 07
08
08
09
Average Sales2.500 Price 2.500 • Distressed salesUS$250.000 fell sharply, skewingCASAS CASAS US$250.000 2.000 2.000 US$230.000 US$230.000 Average Price per Sq Ft price indicators higher The market US$210.000 US$210.000 share of lower priced distressed sales
1.500
Median Sales Price
2Q-2012 % Chg (qrt)
0
09
10
1.500
10 11 $399,440
1Q-2012
% Chg (yr)
2Q-2011
$323,181
17.7%
$339,261
0
11 12 23.6% 12
$257
16.8%
$220
14.2%
$225
$196,500
11.6%
$176,000
20.9%
$162,500
1.000 1.000 US$190.000 US$190.000 Number of Sales 5,558 20.6% 4,610 -0.3% 500(Closed) 500 US$170.000 US$170.000 Preço mediano mediano de vendasde vendas Número de Número vendasde vendas recent peak of 64.7% in Preço the first quarter US$150.000 US$150.000 0 0 (From Last List Date) 68 -5.6% 72 0.0% 2T 11 3T2T 1111 4T3T 1111 Days 1T4T 1211on2TMarket 1T 12125.000 2T 12 5.000 US$200.000 US$200.000 CONDOMÍNIOS CONDOMÍNIOS of 2011. As a result, all price indicators Listing Discount (From Last List Price) 7.4% 8.1% 4.000 4.000 US$176.000 US$176.000 were skewed, showing double-digit US$152.000 US$152.000 3.000 3.000 Listing Inventory (active) 11,689 -6.9% 12,553 -28.2% year-over-year gains. 2.000de vendas 2.000 US$128.000 US$128.000 Preço mediano Preço de mediano vendasde vendas Número de Número vendas Preço mediano Preço de mediano vendasde vendas Número de Número vendasde vendas Absorption Rate (mos) 6.3 -23.2% 8.2 -28.4% US$350.000 US$350.000 1.000 1.000 CONDOMÍNIOS CONDOMÍNIOS - VENDAS -ESTÁVEIS VENDAS ESTÁVEIS 1.500 1.500 US$104.000 US$104.000 US$310.000 US$310.000 2.500 2.500 CASAS - CASAS VENDAS-ESTÁVEIS VENDAS ESTÁVEIS
dropped to 40.6% of all sales after a
5,577 68
US$270.000 US$270.000
There were 11,689 listings at the end
1.200
US$330.000 US$330.000
US$310.000 1.500 Average 1.500 Sales Quarterly Price US$310.000
MIAMI
900
16,281 8.8
1.200
900 of Sales Number
1.000
US$290.000 US$290.000
600
600
7,000
500 de vendas 500 US$230.000 US$230.000 $600,000 Preço mediano Preço mediano de vendasde vendas Número de Número vendas quarter. TheUS$210.000 number of US$210.000 02.500 02.500 2T 11 3T2T1111 4T 3T 11 11 1T 4T 12 11 2T 1T 12 12 2T 12 $500,000 US$250.000 US$250.000 CASAS CASAS
US$270.000 US$270.000
300
300
6,000
0
5,000
US$250.000 US$250.000
of the second quarter, 28.2% less than the prior year
0 2T 12 2.000 0 4T3T1111 1T4T1211 2T1T1212 2.000
$700,000 1.000
sales were essentially unchanged with
US$230.000 US$230.000 $400,000 2.000 2.000 5,558 sales over the same period. The US$210.000 US$210.000 $300,000 1.500 1.500 1.000 1.000 rise in non-distressed sales offset the US$190.000 US$190.000 $200,000 Preço mediano Preço de mediano vendasde vendas Número de Número vendasde vendas 500 500 US$170.000 US$170.000 fall in distressed sales. $100,000 US$120.000 US$120.000 2.500 2.500 CONDOMÍNIOS CONDOMÍNIOS - COM - COM US$150.000 US$150.000 0 0 2T 11 3T2T1111 4T3T1111 1T4T1211 2T1T1212 2T 12
DIFICULDADES DIFICULDADES FINANCEIRAS FINANCEIRAS $0 2.000 06 2.000 US$110.000 US$110.000 • Days on market had second fastest US$100.000 1.500 1.500 rate in more thanUS$100.000 six years The
$ $ $ $ $
9.4%
English
• Listing inventory fell sharply as US$80.000 US$80.000 US$290.000 US$290.000 2T 11 3T2T1111 overall sales activity remained stable
$
US$250.000 US$250.000 2T 11 3T2T1111 4T3T1111 1T4T1211 2T1T1212 0 2T 12
4,000 3,000 Preço mediano Preço de mediano vendasde vendas Número de Número vendasde vendas US$155.000 US$155.000 1.500 1.500 CASAS - CASAS COM DIFICULDADES - COM DIFICULDADES US$150.000 US$150.000 07 08
FINANCEIRAS FINANCEIRAS
09
10
1.200 900
US$145.000 US$145.000
1.200 11 900
12
2,000 1,000 0
$
$
$
1.000 1.000 600 unchanged with US$140.000 per square foot both showed US$140.000 the same pattern, Overall sales were 600 essentially Preço mediano Preço mediano de vendasde vendas Número de Número vendasde vendas Preço mediano Preço mediano de vendasde vendas Número de Número vendasde vendas 500 500 US$80.000 US$80.000 US$135.000 US$135.000 300 300 with respective of 17.7% and 14.2% over in ESTÁVEIS the second compared to unchanged from the same quarter last US$350.000 US$350.000 CONDOMÍNIOS CONDOMÍNIOS - VENDAS -ESTÁVEIS VENDAS ESTÁVEIS 1.500 quarter, 1.500 US$310.000 US$310.000 2.500gains 2.500 CASAS - 5,558 CASAS VENDAS-sales ESTÁVEIS VENDAS 0 0 US$130.000 US$130.000 US$70.000 US$70.000 0 0 2T 11since 3T2T1111 4T3T1111 the 1T4T12 11 2T1T12 12 2T 12The 28.5% year-over-year 2T 11 3T 2T 11 11 4T 3T 11 11 1T 4T 12 11 2T 1T 12 12 2T 12 same period. gain 5,577 in the prior year quarter. However, listing year and the second fastest rate 1.200 1.200 US$330.000 US$330.000 US$290.000 US$290.000 2.000 2.000
$
the first quarter ofUS$270.000 2006 when this US$270.000
$
number of days onUS$90.000 marketUS$90.000 was 68 days,
Median Sales Price No. of Sales in median condo prices largely outpaced the inventory fell sharply900during 900the same period. US$310.000 US$310.000 5,000 $200,000 1.500 1.500CONDOS 4.4% gain in median single-family home prices. There were 11,689 condo US$290.000 US$290.000 1.000 1.000 600 600and single family US$250.000 US$250.000 metric was first captured. 4,000 $180,000 300 300 500 500 This was largely due to the drop in lower priced listings, 28.2% less than 16,281 in the prior year US$230.000 US$230.000 US$270.000 US$270.000 3,000 $160,000 2,000 0 0 $140,000 US$210.000 US$210.000 over the US$250.000 past2T 11 year,3T2T1111quarter. As a result, monthly absorption rate, 0 2T 12 activity 0 US$250.000 2T 11 3T2T1111 4T3T1111 distressed 1T4T1211 2T1T1212 sales 4T3T1111 1T 4T1211 2T1T1212 the 2T 12 The housing market in Miami’s coastal com- related 1,000 $120,000 to the “robo-signing” scandal at the end of the number of months to sell all active listing munities continued to show increases in non- 2010. $100,000 2Q 11to3Q 11 court-related 4Q 11 1Q 12 foreclosure 2Q 12 0 In addition the inventory at the current pace of sales, fell to 6.3 distressed sales, falling inventory, and demand backlog, servicers slowed the volume of property months from 8.8 months in the same period Preço mediano de vendasde vendas Número de Número vendasde vendas Preço mediano Preço mediano de vendasde vendas Número de Número vendasde vendas from foreign buyers Preço frommediano Europe and South entering market of 2011 and early last year. days on1.500 market held firm at US$120.000 US$120.000CONDOMÍNIOS US$155.000 US$155.000 2.500 during 2.500 most 1.500 CASAS - CASAS COM DIFICULDADES - COMAlthough DIFICULDADES CONDOMÍNIOS - COM -the COM America. FINANCEIRAS FINANCEIRAS DIFICULDADES DIFICULDADES FINANCEIRAS FINANCEIRAS Median Sales Price 2012. Condo sales saw more of a decline related 68 days, listing discount, the percentage spread No. of Sales US$110.000 US$110.000 US$150.000 US$150.000 2.000 2.000 1.200 1.200 2,500 $250,000 to this matter; distressed condo sales fell 31.9% between the list price at time SINGLE FAMILY The median sales price jumped 20.9% to US$100.000 US$100.000 1.500 1.500 900 900 of contract and US$145.000 US$145.000 2,000 contract price, fell to 7.4% from 9.4% in the same $230,000 over the past year, while distressed single family $196,500 from $162,500 in theUS$90.000 prior year quarter. 1.000 1.000 600 600 US$90.000 US$140.000 US$140.000 1,500 $210,000 11.7% 500 over the same period. period last year. The $399,440 average sales price and $257 price sales fell only500 US$80.000 US$80.000 US$135.000 US$135.000 300 300 $150,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12
$
$
0
1,000 $250,000 500 $230,000 $210,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 0
Equal Housing Opportunity. All material presented herein is intended for information purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property outlines and square footage in property listings are approximate.
Median Sales Price
$
US$130.000 US$130.000 2T 115003T2T1111 4T3T1111 1T4T1211 2T1T1212 0 2T 12 0
The Douglas Elliman Report series is recognized as the industry standard for providing the state of the residential real estate market. The report includes Sales Price No. of Sales an extensive suite of tools to help readersMedian objectively identify and measure $310,000 NON-DISTRESSED CONDOS 2,500 market trends, provide historical context$290,000 to current information and provide 2,000 comprehensive analysis of the results. 1,500 $270,000
$120,000 $110,000
$
1,000
$190,000
0 0 US$70.000 US$70.000 2T 11 3T2T1111 4T3T1111 1T4T12 11 2T1T1212 2T 12 $170,000
$
No. of Sales
DISTRESSED CONDOS
2,500 2,000
Median Sales Price
No. of Sales
$350,000 NON-DISTRESSED SINGLE FAMILY 1,500 1,200 $330,000 $310,000 900 $290,000 600 $270,000 300 $250,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 Prepared by Miller Samuel Inc. Appraisal and Consulting Services
Median Sales Price $155,000 $150,000
0
No. of Sales
DISTRESSED SINGLE FAMILY
1,500 1,200
2Q-2012
English
Portugues
The Elliman Report • Quarterly Survey of Miami Coastal Community Sales
The Elliman Report • Quarterly Survey of Miami Coastal Community Sales MIAMI
Quarterly Average Sales Price
Condos •P rice indicators rose as inventory fell All price indicators posted year-overyear gains. Median sales price jumped 28.5% to $185,000 from $144,000 in the prior year quarter. Listing inventory continued to decline, falling 29.2% to 7,063 from 9,981 over the same period.
•T he number of sales slipped, but market share of cash sales expanded There were 3,547 sales in the second quarter, 2% fewer than the 3,618 sales in the prior year quarter. Cash purchases increased 1.7% to 76.3% of all condo sales from 75% in the same period last year.
Single Family
• Price indicators rose as listing inventory fell sharply Active listing
inventory fell 26.6% to 4,626 from 6,300 in the prior year quarter. All price indicators posted year-over-year gains. After three consecutive quarters at $200,000, the median sales price was up 4.4% to $213,000 from prior year levels.
• The number of sales edged higher, but fewer made with cash and FHA financing There were 2,011 sales in the
second quarter, 2.7% more than 1,959 in the prior year quarter. Cash purchases fell 3.8% and FHA purchases fell 9.9% over the same period.
Luxury •C ondo price indicators continued to rise as marketing time fell Days on
market fell to 48 days, 5 days faster than in the prior year quarter. Median sales price increased 15.9% to $1,217,000 over the same period. The condo luxury market threshold was $750,000.
•S ingle family sales edged higher as listing discount declined There
were 201 sales, 2.6% more than in the prior year quarter. Listing discount compressed to 12.9% from 14.8% over the same period. The single family luxury market threshold was $895,000.
Ellimanflorida.com
$700,000 $600,000
Condo Market Matrix
2Q-2012 % Chg (qrt)
Average Sales Price
$356,779
Average Price Per Sq Ft
$288
Median Sales Price
$185,000
Number of Sales
3,547
Days on Market (From Last List Date)
67
Listing Discount (From Last List Price)
6.1%
Listing Inventory (active)
7,063
Absorption Rate (mos)
Quintiles
English
% Chg (yr)
$109,000
28.2%
1-bedroom
$150,000
36.4%
2-bedroom
$222,500
37.3%
3-bedroom
$285,000
55.7%
4-bedroom
$617,500
42.0%
5-bedroom
$1,534,500
-36.1%
Single Family Market Matrix Average Sales Price
Average Price Per Sq Ft
19.9%
$297,600
$247
16.1%
$248
$161,500
28.5%
$144,000
2,997
-2.0%
3,618
72
-1.5%
68
$298,751
06
7.3% 7.6
2,011 70
Listing Discount (From Last List Price)
9.7%
Listing Inventory (active)
4,626
Absorption Rate (mos)
% Chg (yr)
1-bedroom
$84,500
169.5%
2-bedroom
$115,000
44.7%
3-bedroom
$175,000
9.4%
4-bedroom
$255,000
2.0%
5-bedroom
$772,000
8.0%
Average Sales Price
Average Price Per Square Foot Median Sales Price Number of Sales
-25.0%
$1,623,918
$687 $1,217,000 355
Listing Discount (From Last List Price)
7.2%
Average Price Per Square Foot
$2,527,962 $497
2,000 • All single family price indicators 1,000 0 levels increased from prior year
10
MIAMI
11
Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
12
Median sales price was $482,000, Number of Sales 13.4% above $425,000 in the prior year 7,000 quarter.
9.2
-28.1%
9.6
No. of Sales
1Q-2012
44.0% $1,754,972
Median Sales Price
% Chg (yr)
2Q-2011
20.9% $2,091,313
No. of Sales
10
12
• Single family price indicators increased Median sales price of $2,190,000 rose sharply as distressed sales activity fell.
US$300.000 Portugues US$200.000
2Q-2012 % Chg (qrt)
$938,586 -7.8% 06 07 $333 -3.8% Preço médio de vendas trimestrais $482,000 -39.8% US$700.000 42 0.0% US$0
1Q-2012
% Chg (yr)
1Q-2012
% Chg (yr)
$370,104 $260 $225,000 635
$1,018,344 08 $346 $800,000 42
Número de vendas
Miami Beach Market Matrix (Condos)
2Q-2012 % Chg (qrt)
1Q-2012
Miami Beach Market Matrix (Single Family)
2Q-2012 % Chg07(qrt)
1Q-2012 08
Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed) Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
US$400.000 US$200.000 CONDOMÍNIOS $525,996 2.0% US$176.000 US$300.000 $415 1.7% US$152.000 US$200.000 $300,000 3.4% US$128.000 US$100.000 408 28.3% US$104.000 US$0 US$80.000 2T 1106 3T 11 $2,869,050
$776 $2,190,000 Preço mediano de vendas 20
4T 11
5.000
$515,534 4.000 $408 3.000 $290,000 2.000 318 1.000 0
1T 12 2T 12 127.1% $1,263,471 88.8% $411 152.6% $867,000 Número de vendas -60.8% 51
CONDOMÍNIOS
US$200.000 US$230.000
•C ondo sales were unchanged
There were 430 condo sales in the second quarter, unchanged from the same period last year.
•S ingle family price indicators were mixed Median sales price was 25.6% Median Sales Price No. of Sales
the prior yearSINGLE result as price per 1,500 $350,000below NON-DISTRESSED FAMILY the $330,000square foot increased 16.1% over1,200 $310,000same period. 900 $290,000 600 $270,000 300
2Q-2011
16.6% 14.2% 19.7% 1.0%
$357,886 $253 $206,550 818
8.9% 09 5.0% MIAMI 13.4% 2.4%
$862,246 10 $317 $425,000 41
2Q-2011 11
Núme
% Chg (yr)
2Q-2011
19.1% 12.5% 20.5% 3.0%
$441,807 $369 $249,000 396
% Chg 09 (yr)
2Q-2011 10
11
80.7% $1,587,620 45.6% $533 136.8% $925,000 -69.2% 65
5.000 2.000
South Beach Market Matrix (Condos) US$176.000 US$210.000 2Q-2012 % Chg (qrt)
1.500 % Chg (yr) 4.000 1Q-2012
South Beach Market Matrix (Single Family)
1Q-2012
Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
US$152.000 US$190.000 $703,400 US$128.000 $662 US$170.000 US$104.000 US$150.000 $300,000
1.000 3.000 38.6% $507,662 2.000 25.1% $529 500 1.000 20.0% $250,000 0 2T 11 3T 11 4T 11 1T 12 2T 12 0 US$80.000 2T 11 430 3T 11 4T 1125.0% 1T 12 2T 12 344
Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
$3,514,700 114.6% $1,637,863 Preço mediano de vendas Número de vendas $930 89.4% $491 - VENDAS ESTÁVEIS US$310.000 2.500 Preço medianoCONDOMÍNIOS de vendas Número de vendas $2,250,000 119.5% $1,025,000 US$290.000 2.000 2.500 US$250.000 15 CASAS15.4% 13
2Q-2012 % Chg (qrt)
US$230.000 US$270.000
2.000 1.500
2Q-2011
15.9% 18.4% 20.0% 0.0%
% Chg (yr)
-19.9% 16.1% -25.6% -21.1%
$606,761 $559 $250,000 430
2Q-2011
$4,386,334 Preço mediano de vendas $801 US$350.000 CASAS $3,025,000 US$330.000 19
VE
US$310.000
Note: This region includes area within the 33139 zip code and the 33140 zip code with northern boundary of 30th Street. The data is also 1.500 US$210.000 US$290.000 1.000 US$250.000 contained within the other markets presented.
Downtown
1.000 US$190.000 500 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) US$270.000 2Q-2011 500 US$170.000 US$210.000 2T$207,520 0 25.7% US$250.000 $165,150 2T 11 11 3T 11 4T 11 18.9% 1T 12 2T $174,511 12 US$150.000 2T 11 3T 11 4T 11 1T 12 2T 12 0 $176 15.8% $152 19.7% $147
US$230.000 Downtown Market Matrix (Condos)
•P rice indicators The $250,000 2Q 11 3Q 11 4Qrose 11 1Q 12 median 2Q 12 0sales
Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
price jumped 29.4% to $120,000 from $92,700 in the prior year quarter.
•S ingle family sales edged higher in Median No. Median Sales Sales Price Price No. of of Sales Sales There were 1,631 their largest market $155,000 DISTRESSED SINGLE FAMILY 1,500 $350,000 NON-DISTRESSED SINGLE FAMILY 1,500 sales, 7.2% more than in the prior year $150,000 1,200 1,200 $330,000 quarter, accounting for 81.1% of all 900 single $145,000 $310,000 900 family sales in this report. $140,000 600
South
12.8% 11.2% 9.9% 30.1%
Preço mediano Número de vendas 2.500 the other markets presented. US$250.000 Note: This region includes Miami Beach, Fisher Island and de Keyvendas Biscayne.CASAS The data is also contained within
South Beach
$290,000 $135,000 $270,000 $130,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 $250,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12
$417,383 $289 $247,250 826
US$500.000 Preço mediano de vendas
Median sales price was 2,000 $300,000, 20.5% above $249,000 in the prior 1,000year quarter as distressed market share 0 fell sharply. 11
US$400.000
2Q-2012 % Chg (qrt)
Note: This region includes Aventura, BalUS$600.000 Harbour, Bay Harbor Islands, Golden Beach, Indian Creek, North Bay Village, Sunny Isles and Surfside. The data is also contained within the other markets presented.
• Condo price indicators3,000 up sharply
09
US$600.000 US$500.000
US$100.000 North Market Matrix (Single Family)
Miami Beach 4,000
No. of Sales
23.0% $404 13.7% $437 $120,000 2,500 DISTRESSED CONDOS Median Sales Price $1,600,000 48.8% $1,075,000 18.1% $1,355,000 $110,000 2,000 Number of Sales 201 24.8% 161 2.6% 196 $100,000 1,500 Days on Market (From Last List Date) 57 9.6% 52 -1.7% 58 1,000 $90,000 Listing Discount (From Last List Price) 12.9% 12.9% 14.8% 500 $80,000 0 Note: This sub-category is the analysis of the top ten percent of all sales.$70,000 The data is2Q also11contained other 3Q 11 within 4Q 11the 1Q 12markets 2Q 12presented.
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4,000
5,000
$120,000 2,500 DISTRESSED CONDOS 2,500 $310,000 CONDOS 22.5% NON-DISTRESSED $1,325,779 10.7% $1,466,605 $110,000 2,000 2,000 $290,000 19.7% $574 13.4% $606 $100,000 1,500 1,500 $270,000 23.6% $985,000 15.9% $1,050,000 1,000 $90,000 1,000 $250,000 18.3% 300 -1.7% 361 500 $80,000 50053 $230,000 -4.0% 50 -9.4% $70,000 11 3Q 11 4Q 11 1Q 12 2Q 12 00 $210,000 2Q 2Q 11 3Q9.1% 11 4Q 11 1Q 12 2Q 12 11.2%
2Q-2012 % Chg (qrt)
Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
826 sales, 1% more than 818 sales in 3,000 the prior year quarter.
8.3
Median Sales Price of Sales Median Price % ChgNo. No. 2Q-2012 % Chg (qrt) Sales 1Q-2012 (yr)of Sales 2Q-2011
48
Average Sales Price
-27.7%
2,500 $310,000 NON-DISTRESSED CONDOS Median Sales Price No. of Sales 2,000 2,500 $250,000 $290,000 SINGLE FAMILY 2,000 $230,000 1,500 $270,000 1,500 $210,000 1,000 $250,000 1,000 $190,000 500 $230,000 500 $170,000 $210,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 0 $150,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 0
Days on Market (From Last List Date)
Luxury Market Matrix - Single Family
9,981
North Market Matrix (Condos)
5,000
• Condo sales edged higher There were
09
Núme
US$700.000
6,000
6,000
Median Sales Price
Luxury Market Matrix - Condos
8.7%
20.1% $169 $183 5,000 $200,000 2,000 $230,000 CONDOS10.9% 6.5% $200,000 4.4% $204,000 1,500 4,000 $180,000 $210,000 1,000 3,000 $160,000 24.7% 1,613 2.7% 1,959 $190,000 2,000 $140,000 500 $170,000 -2.8% 72 1.4% 69 1,000 $120,000 2Q 11 3Q9.5% $150,000 0 10.7% 11 4Q 11 1Q 12 2Q 12 $100,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 0 -6.1% 4,926 -26.6% 6,300
6.9
Med. Sales Price
08
2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011 Median Sales Price No. of Sales $474,686 28.8% $368,573 14.1% $416,203 Median Sales Price No. of Sales 2,500 $250,000 SINGLE FAMILY
Days on Market (From Last List Date)
Quintiles
07
2Q-2011
$400,000 5,000 $200,000 CONDOS $300,000 4,000 $180,000 3,000 $160,000 $200,000 2,000 $140,000 $100,000 1,000 $120,000 $0 06 07 08 $100,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 0
$213,000
Number of Sales
% Chg (yr)
$500,000 Median Sales Price
$203
Median Sales Price
1Q-2012
Quarterly Average -7.4% 7,627 Sales Price -29.2%
6.0 $700,000 -21.1% $600,000
Med. Sales Price
Studio
$500,000 19.4% $400,000 16.6% $300,000 14.6% $200,000 18.4% $100,000 -6.9% $0
7,000
North
MIAMI
Preço médio de vendas trimestrais
Number of Sales
2Q-2012
$120,000 1,748
10.6% 11.5%
$108,500 1,568
29.4% -5.0%
3T 11
4
$92,700 1,840
Preço mediano de vendas Número de vendas Preço mediano de vendas US$120.000 US$155.000 2.500 CASAS - COM CONDOMÍNIOS - ESTÁVEIS COM CONDOMÍNIOS VENDAS US$310.000 2.500 CASAS FINAN - VE Average Sales Price $306,665 49.9% $204,514 40.5%US$350.000 $218,200 DIFICULDADES FINANCEIRAS US$110.000 US$150.000 2.000 US$330.000 US$290.000 2.000 Average Price per Sq Ft $147 40.0% $105 34.9% $109 US$100.000 1.500 Median Sales Price $182,900 7.6% $170,000 12.2% US$145.000 $163,000 US$310.000 1.500 US$270.000 1.000 US$90.000 US$140.000 Number of Sales (Closed) 1,631 26.4% 1,290 7.2% 1,522 US$290.000 1.000 US$250.000 500 US$80.000 US$135.000 Note: This region includes area defined byUS$230.000 Miami MLS as “Miami”. The data is also contained within500 the other markets presented. US$270.000 US$130.000 2T 11 3T 11 4 US$70.000 2T 11 3T 11 4T 11 1T 12 2T 12 0 0 South Market Matrix (Condos) US$210.000 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) US$250.000 2Q-2011 mediano de vendas % Chg (qrt Número de vendas % Chg (yr) Preço mediano de vendas Downtown Market Matrix (SinglePreço Family) 2Q-2012 ) 1Q-2012 2Q-2011
600 300 300 0 0
• Condo sales edged higher While price
indicators were mixed, the number of sales increased 0.7% from the prior year quarter Median Sales Price No. of Sales to 135.
$155,000 DISTRESSED SINGLE FAMILY 1,500 • Single family price indicators jumped $150,000 1,200 as sales slipped All price indicators posted 900 $145,000 double-digit gains as distressed market 600 $140,000 $135,000 300 share continued to drop. $130,000 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 0
2T 11
3T 11
4T 11
1T 12
2T 12
Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
$303,127 $233 $257,500 Preço mediano de vendas 135
-16.9% $364,630 -10.0% $259 7.7% $239,000 Número de vendas 2.3% 132
Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed)
DIFICULDADES FINANCEIRAS US$110.000 $1,006,277 2.000 8.0% $931,727 US$100.000 1.500 $293 -3.0% $302
2T 11
US$120.000 2.500 CONDOMÍNIOS - COM South Market Matrix (Single Family) 2Q-2012 % Chg (qrt ) 1Q-2012 % Chg (yr) US$155.000 2Q-2011
$650,000 303 US$80.000 US$90.000
19.3% 39.6%
1.000 $545,000 500 217
20.1% 13.6% 17.6% -2.9%
4
CASAS - COM
US$150.000 $837,671
FINAN
US$145.000 $258
US$140.000 $552,500
312 US$135.000
0 US$130.000 Note: This region includes Coconut Grove,US$70.000 Coral Gables, Palmetto Bay, Miami. within the 2T 11 2T 11 3T 11 Pinecrest 4T 11 and 1T South 12 2T 12 The data is also contained other markets presented.
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3T 11
-8.2% $330,064 -2.9% $240 28.8% $200,000 0.7% Preço mediano 134 de vendas
Ellimanflorida.com
3T 11
4