Current Status1 Miami-Dade data for select luxury markets demonstrates that overall pricing is up over 4% year-over-year between 3Q 2014 and 3Q 2015. Notably, both the SF and Condo market saw a decline in number of transactions and average sales price. However, this is due to smaller average home sizes, and pricing per sq. ft. is considered the benchmark for effective price appreciation. Following a relatively strong 2015, pricing appears to be stabilizing following two strong years of appreciation. The luxury waterfront single-family
REAL ESTATE MARKET REPORT
segment showed the largest appreciation at 6% Y-O-Y, despite an 8% decline in activity.
Number of Transactions
Average Living Area (SF)
780
2,500
h 10%
h 5%
from 863 transactions during 3Q 2014
from 2,640 square feet during 3Q 2014
Average Sales Price
Average Price per Square Foot
3Q 2015
To view our 2015 market report, please visit .
$1.27M
$510
h 5%
0%
from $1.34M during 3Q 2014
from $508 during 3Q 2014
1. Numbers include only the county’s most prominent neighborhoods. For a full list, visit onesothebysrealty.com/trends (p. 4).
MIAMI-DADE’S MOST PROMINENT NEIGHBORHOODS
http://issuu.com/tejeragroup/docs/tejera_issuu_trends2015?e=12690857/11924373
©MMXV ONE Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated. Statistics provided by Integra Realty Resources – Miami\Palm Beach. The information contained herein is deemed accurate but not guaranteed.
For details on methodology, please see our 2015 report at onesothebysrealty.com/trends (p. 5).
ONESOTHEBYSREALT Y.COM
The Single-Family Home Market 1
The Condo Market 2
Waterfront Homes
Waterfront Condos
# Transactions
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
3Q 2015 »
67
$3,471,613
4,202
$826
3Q 2015 »
% Change (3Q 2014) »
h 8% (73)
h 23% ($4,533,995)
h 24% (5,536)
g 1% ($819)
% Change (3Q 2014) »
Non-Waterfront Homes
% Sample Traded
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
1.3%
$1,301,562
1,671
$779
g 6% ($1,229,658)
g 1% (1,647)
g 4% ($747)
Non-Waterfront Condos
# Transactions
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
3Q 2015 »
431
$1,058,431
2,879
$368
3Q 2015 »
% Change (3Q 2014) »
h 4% (450)
h 1% ($1,064,261)
h 5% (3,028)
g 5% ($351)
% Change (3Q 2014) »
% Sample Traded
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
0.9%
$501,540
1,114
$450
g 2% ($489,988)
h 2% (1,139)
g 5% ($430)
Spotlight: The Luxury Market*
Exclusive Developments: Pre-Construction
* The top 50% of Miami-Dade’s most prominent neighborhoods, by average price.
For details, please visit onesothebysrealty.com/exclusive-developments.
Luxury Waterfront Homes # Transactions
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
3Q 2015 »
33
$5,979,167
5,699
$1,049
% Change (3Q 2014) »
h 8% (36)
h 24% ($7,895,958)
h 28% (7,957)
g 6% ($942)
Luxury Non-Waterfront Homes # Transactions
Avg. Sales Price
Avg. S.F.
Avg. $/S.F.
3Q 2015 »
215
$1,589,540
3,679
$432
% Change (3Q 2014) »
h 6% (229)
h 2% ($1,621,854)
h 4% (3,840)
g 2% ($422)
Louver House
Three Hundred Collins
Oceana
South of Fifth, Miami Beach
South of Fifth, Miami Beach
Bal Harbour
Ritz-Carlton Residences
L’Atelier
Kai
Miami Beach
Miami Beach
Bay Harbor Islands
One Thousand Museum
Brickell City Centre
Mansions at Doral
Miami
Miami
Miami
2. Condo sections do not contain a Luxury Spotlight, since the product sample is already representative of the high-end market. 1. Numbers include only the county’s most prominent neighborhoods. For a full list, visit onesothebysrealty.com/trends (p. 4).
900 Brickell Key Boulevard, #3401 | Miami, FL
For details on methodology, please see our 2015 report at onesothebysrealty.com/trends (p. 5).