2017 MID-YEAR UPDATE S I N G L E - F A M I LY H O M E S I N M I A M I - D A D E ’ S MOST PROMINENT NEIGHBORHOODS
MIAMI-DADE
COUNTYWIDE STATISTICS | SINGLE-FAMILY HOMES
Miami-Dade’s single-family market experienced a transformative year. At the
TOTAL MARKET
start of 2016, seller expectations remained lofty on price, and market prices grew while transaction volume fell. Despite continued warnings from market makers that sellers needed to adjust their price expectations to meet the market, many remained steadfast that the slowdown in 2016 was electionrelated malaise and the market would rocket back after the election. The second half of 2016 did end much stronger than it started.
WATERFRONT HOMES
NON-WATERFRONT HOMES
# FOR SALE
# SOLD
AVG. $/SF
# FOR SALE
# SOLD
AVG. $/SF
904
516
$374
5,085
5,216
$212
In our 2017 annual report, we predicted that the number of transactions would increase throughout the year. While non-waterfront inventory has been largely steady this year, there has been a noticeable increase in the
LUXURY MARKET
(THE TOP 50% BY AVERAGE HOME PRICE)
number of available waterfront homes on the market. # FOR SALE
# SOLD
AVG. $/SF
$1M – $5M
1,460
451
$357
$5M – $10M
173
19
$759
$10M+
113
12
$1,434
When examining the individual markets, waterfront, single-family homes throughout Miami Beach experienced an increase of up to 31% in pricing with Mid Beach leading the way. Other leading waterfront markets in the first half of 2017 were Key Biscayne, Normandy Isle and the Venetian Islands. When reviewing the non-waterfront, single-family market, Golden Beach and Bal Harbour were the clear leaders.
FOR MORE GUIDES AND REPORTS, PLEASE VISIT http://issuu.com/tejeragroup ©MMXVII 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.
Enrique Tejera, P.A. - 305-814-4686 info@sobeone.com
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