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
DISCOVER OUR WORLD. #ONLYWITHONE
MIAMI / SOUTH END
All % changes reflect a comparison of current numbers vs. numbers during the same time period last year (January through June).
WATERFRONT HOMES
NON-WATERFRONT HOMES
AVG. $/SF
AVG. LUX PRICE
AVG. $/SF
AVG. LUX PRICE
COCONUT GROVE
$941/SF
$12.4M
$456/SF
$2M
h 12%
h 17%
g 6%
g 13%
CORAL GABLES
$855/SF
$7.8M
$379/SF
$1.44M
g 18%
g 12%
h 2%
h 10%
PALMETTO BAY
$228/SF
$987K
$204/SF
$740K
h 17%
h 12%
g 1%
g 5%
$577/SF
$3.74M
$463/SF
$3.88M
g 1%
h 1%
g 8%
g 20%
$1,689/SF
$43.7M
No non-waterfront single-family home market available
COCOPLUM
g 84%
g 238%
No non-waterfront single-family home market available
OLD CUTLER BAY
No waterfront single-family home market available
No waterfront single-family home market available
No non-waterfront single-family home market available
No non-waterfront single-family home market available
PINECREST
No waterfront single-family home market available
No waterfront single-family home market available
$304/SF
$1.7M
h 2%
g 13%
SNAPPER CREEK LAKES
No waterfront single-family home market available
No waterfront single-family home market available
$385/SF
$2.8M
h 36%
h 51%
P.-DAVIS & H. PINES
No waterfront single-family home market available
No waterfront single-family home market available
$476/SF
$3M
g 4%
h 32%
GABLES ESTATES
MIAMI BEACH
MID BEACH NORTH BAY ROAD
MIAMI / NORTH END
WATERFRONT HOMES
NON-WATERFRONT HOMES
WATERFRONT HOMES
NON-WATERFRONT HOMES
AVG. $/SF
AVG. LUX PRICE
AVG. $/SF
AVG. LUX PRICE
AVG. $/SF
AVG. LUX PRICE
AVG. $/SF
AVG. LUX PRICE
$1,314/SF
$16.6M
$449/SF
$1.8M
$367/SF
$1.1M
$285/SF
$901K
g 31%
g 109%
h 17%
h 22%
h 27%
h 62%
g 8%
h 7%
$1,845/SF
$20M
$631/SF
$2.75M
g 28%
g 55%
h 3%
h 13%
$1,185/SF
$22.6M
$494/SF
$1.9M
g 1%
g 193%
g 18%
0%
ALTON ROAD (LGS)
No waterfront single-family home market available
No waterfront single-family home market available
$398/SF
$1.3M
h 1%
h 30%
LA GORCE DR. (LGS)
No waterfront single-family home market available
No waterfront single-family home market available
$369/SF
$2.3M
h 48%
0%
PINE TREE DRIVE
631 ARVIDA PARKWAY, CORAL GABLES
AVENTURA
$847/SF
$6.25M
$753/SF
h 19%
g 8%
g 53%
No non-waterfront single-family home market available
No waterfront single-family home market available
No waterfront single-family home market available
$1,195/SF
$6.2M
g 68%
g 45%
$603/SF
$4M
$390/SF
$789K
h 23%
h 27%
g 5%
h 3%
GOLDEN BEACH BAL HARBOUR
SURFSIDE
LGS: La Gorce Subdivision
WATERFRONT vs. NON-WATERFRONT MIAMI / SOUTH END 6%
MARKET SIZES BY NUMBER OF SINGLE-FAMILY HOME TRANSACTIONS
THE ISLANDS
MIAMI BEACH
94%
16%
84%
38%
MIAMI / NORTH END 62%
26%
74%
THE ISLANDS
KEY BISCAYNE PALM / STAR / HIBISCUS VENETIAN ISLANDS SUNSET ISLANDS LA GORCE ISLAND BAY HARBOR ISLANDS NORMANDY ISLE INDIAN CREEK
WATERFRONT HOMES
NON-WATERFRONT HOMES
AVG. $/SF
AVG. LUX PRICE
AVG. $/SF
AVG. LUX PRICE
$1,756/SF
$19M
$847/SF
$2.97M
g 55%
g 145%
g 1%
h 16%
$932/SF
$7.5M
$500/SF
h 26%
h 40%
g 17%
Insufficient data: No sales
$1,468/SF
$11.28M
$584/SF
$1.9M
g 24%
g 64%
h 13%
h 8%
Insufficient data: No sales
Insufficient data: No sales
$883/SF
$10M
h 38%
g 25%
$1,297/SF g 25%
Insufficient data: No sales
$907/SF
$4.2M
h 1%
g 151%
Insufficient data: No sales
Insufficient data: No sales
$446/SF
$1.4M
h 20%
h 62%
$815/SF
$3.65M
$308/SF
$696K
g 26%
g 25%
h 3%
g 1%
Insufficient data: No sales
Insufficient data: No sales
No non-waterfront single-family home market available
No non-waterfront single-family home market available
To access our full 2017 TRENDS report, please visit http://issuu.com/tejeragroup/docs/2017_trends_annual_report_miamidade?e=12690857/46337344 Detailed methodology is found on page 66. Avg. Lux Price = The top 50% of each market by average home price
314 W SAN MARINO DRIVE, MIAMI BEACH