trends 2012 year in review

TRENDS

2012 YEAR INREVIEW

2 0 1 2 Y E A R I N R E V I E W

CORAL GABLESSantona Corner

1430 S Dixie Highway, Suite 110Coral Gables, Florida 33146

BRICKELLHelm Bank Building

999 Brickell Avenue, Suite 900Miami, Florida 33131

If real estate history does repeat and the economists are correct, 2012 was the new 2002.

Last year was the return to normal for real estate. With annualized homes sales at 4.6 million nationally in 2012, we are close to 2002’s 5.5 million mark, which has now been defined as the normal level for sustainable real estate sales. Interestingly enough, a look back at 2002 in South Florida looks very similar to 2012. Ten years ago, combined numbers for Miami-Dade and Broward showed an overall inventory level of just over 20,000 residential properties for sale which at the rate of sales represented about 5 months of inventory, very similar to the numbers for 2012. It is when you start evaluating pricing that things really get interesting and the differences start to emerge.

The average sales price in both counties combined has risen from $446,000 to $620,000 in the last 10 years, with many peaks and valleys along the way. The most significant growth trend has been in what is referred to as the “super” luxury market. Not a high end grocery store, the super luxury market are those properties that define the top tier of property sales in a market. In the last 10 years, that market has gone from above $5 million to above $20 million. In 2002, 768 residential properties were sold over $1 million in both counties. By 2012, that number had grown to 1,911. The over $5 million market growth was even more pronounced in the same time period, with 4 times as many sales in 2012 as compared to 2002. In the super luxury category, over $10 million, there were no sales in 2002 and 30 sales in 2012. This is clearly an entirely different market now.

Rental prices continue to rise as well: 41% of all investors purchased more than one property last year. With rental prices going up, and a continuing strong demand, this too will remain an active segment of the market.

2012 also saw the return of the U.S. Northeast buyer in a very strong way. Income tax changes in many states in the U.S. and countries abroad has been the final impetus to clench that purchase decision in Florida, and South Florida in particular. These are buyers that can claim residency anywhere in the world and choose our backyard. Who can blame them?

2012 was the new 2002, only better!

MIAMI BEACHSouth of Fifth

119 Washington Avenue, Suite 102Miami Beach, Florida 33139

KEY BISCAYNEThe Galleria Mall

328 Crandon Boulevard, Suite 222Key Biscayne, Florida 33149

SUNNY ISLESIntracoastal Mall

3873 NE 163 StreetN. Miami Beach, Florida 33160

AVENTURANorthern Trust Building

18901 NE 29 Avenue, Suite 101Aventura, Florida 33180

MIAMI BEACHOcean Drive

1451 Ocean Drive, Suite 104Miami Beach, Florida 33139

FORT LAUDERDALELas Olas

888 E Las Olas Boulevard, Suite 110Fort Lauderdale, Florida 33301

Y E A R I N R E V I E W 2 0 1 2

Cover Property: 2201 Collins Avenue UPH-01, Offered at $16,900,000

Key ObservationsThe rise of the luxury market is the most significant trend of 2012. The growth in the million dollar plus market makes South Florida one of the prime real estate markets in the world. The favorable income tax structure is more attractive than ever to those who want to and are able to relocate.

0 4 I T R E N D S O N E S O T H E B Y S R E A LT Y. C O M

954 Banyan Drive, Offered at $3,300,000

7LUCKY 7The number of months supply of waterfront properties in Miami-Dade and Broward Counties. At ONE Sotheby’s International Realty, 60% of our total inventory is waterfront.Source: Trendgraphix

28%

HAPPY BIRTHDAY, YOUTUBE!With 800 million plus unique visitors a month and 4 billion video views, YouTube has a lot to celebrate as it reached its 8th birthday. No wonder the 2013 marketing buzz word is video. Source: ShortyMedia

“Nationally, we believe that housing has finally turned a corner and is showing signs of a consistent and durable recovery, driven by strong fundamentals such as high affordability; measured either relative to rents or incomes.”

Stan Humphries, Chief Economist Zillow

72DEVELOPMENTS RISING That’s the total number of new developments popping up across South Florida, from Miami to Fort Lauderdale. These new projects will add a planned 12,307 total units to condo inventory. Source: onesothebysrealty.com/new-developments

SIGNIFICANT SALESIn 2012, ONE Sotheby’s International Realty participated in 6 out of the top 10 sales in both Miami-Dade and Broward Counties.Source: Southeast Florida Regional MLS

SUPER LUXURY With 30 sales over the $10 million mark in Miami-Dade and Broward County, 2012 was certainly the year of the trophy market in South Florida. Look for this trend of the uber sales to continue in 2013.Source: BrokerMetrics

BROWARD BOOMS Sales of residential properties in Broward County over $1 million increased a whopping 28% in 2012. The average sales price remained relatively constant.Source: Trendgraphix

T R E N D S I 0 5O N E S O T H E B Y S R E A LT Y. C O M

Y E A R I N R E V I E W 2 0 1 2

At a Glance: 2012The rise of the super luxury market in South Florida is the break-out story of 2012. While the number of all residential transactions in Broward and Miami-Dade stayed nearly flat from 2011 to 2012, with fewer than 1% more sales year over year, the luxury market took off. Residential properties in Broward and Miami-Dade Counties with a closing price of $1,000,000 or higher saw an increase of 27% in number of units. Those selling for over $5,000,000 increased 46% and the real winner in the luxury market was the ultra-prime properties over $10,000,000. Those properites saw an astronomical doubling of number of transactions (115% to be precise) with 28 properties over $10,000,000 closing in 2012, compared to 13 in 2011 and 10 in 2010. South Florida is still valued tremendously low as far as dollar per square foot in the worldwide luxury real estate market, yet gains prominence and importance, year after year.

Sales Volume: Miami-Dade & Broward CountiesCondosSingle Family Homes

0 6 I T R E N D S

Source: Southeast Florida Regional MLS.

O N E S O T H E B Y S R E A LT Y. C O M

# O

F TR

ANSA

CTIO

NS

0

500

1000

1500

2000

2011 2012

Sales Over $1,000,000

27% That’s the percent increase sales over $1M saw from 2011 to 2012.

0

37.5

75

112.5

150

2011 2012


46% An even more significant increase seen in sales over $5M.

0

7.5

15

22.5

30

2011 2012


115% Super luxury properties over $10M saw the most impressive increase of all!

333 Las Olas Way #4202, Offered at $4,150,000

DISTRESSED INVENTORYCurrently, the total number of Bank-Owned (REOs) and Short Sales over $1,000,000 in BOTH Miami-Dade and Broward is less than 10! This makes up only .7% of the market, down from 2% mid-year 2012.

Source: Southeast Florida Regional MLS.

MARKET UPSWINGSome of the main indicators of an improving market are DOM (days on market) and SP/LP Ratio (Sale Price to List Price Ratio). Both Miami-Dade and Broward Counties enjoyed significantly improving statistics. The DOM in Miami-Dade decreased 10.2% from January 2012 to January 2013, from 98 days to 88 days. Broward decreased 5.9% during the same period, from 87 to 82 days on the market. Both counties increased from 88% List to Sales Price ratio to 91% List to Sales Price ratio.

Source: Trendgraphix


91%

Traditional Sales

Bank-Owned Properties& Short Sales

Y E A R I N R E V I E W 2 0 1 2

Month by MonthIn 2012, August was the highest sales month for both counties combined based on number of transactions, while 2011 saw the strongest combined sales in March. Together, both counties closed a total of 5,303 units in August 2012, down slightly from the high in March 2011 of 5,680.

0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

1500

3000

4500

6000

MONTH

# O

F H

OM

ES S

OLD

Miami-Dade County Broward County

Average Sales PriceSouth Florida continues to enjoy a healthy real estate recovery. Mid-year 2012 saw residential properties up about 20% from the same time in 2011, and even a more robust increase from January 2012 to December 2012. Sold prices in Miami-Dade were up a whopping 48.2% December 2012 compared to January 2012. Broward enjoyed a 24% increase for the same time period.



$0Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

$125K

$250K

$375K

MONTH

PRIC

E

Miami-Dade County Broward County

$500K

CORAL GABLES COCOPLUM SNAPPER CREEK LAKES GABLES ESTATES

OLD CUTLER WATERFRONT PONCE DAVIS, HIGH PINES COCONUT GROVEPINECREST PALMETTO BAY

South of Miami

2913 Natoma StreetOffered at $1,830,000


C O M M U N I T Y P R O F I L E SI N D E P T H

T R E N D S I 0 9

OVERVIEW

Coral GablesCoral Gables non-waterfront homes have been affected by a continuing declining inventory as sales have increased. Homes are selling quickly with a 22% decrease in number of days on market. Non-waterfront condos over $500,000 saw similar trends with days on market dramatically decreasing by 50% to the lowest of any category, averaging less than 3 months and reflecting the declining inventory.

OVERVIEW

Coral GablesCoral Gables Waterfront homes saw very

strong growth in 2012 with across the board increases: 50% increase in total number of

sales, increase in sales price by 19%, and price per square foot ($537) increasing by

7.6%. Especially significant is that there were 5 sales of waterfront homes over

$10,000,000 in 2012 compared to none in 2011. Regarding waterfront condos over

$1,000,000 there was a doubling of actual sales combined with an amazing 18%

increase in price per sf to $460. This resulted in almost a 40% increase in overall average

waterfront condominium sales price.

6959 Sunrise Drive, Coral GablesOffered at $8,950,000

2225 Segovia Circle, Coral GablesOffered at $950,000

2011 31 $2,771,226 $2,225,000 $4992012 47 $3,573,853 $2,635,000 $537

Change 52% 29% 18% 8%

Condos($1M+)

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

Waterfront Properties

SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 6 $1,161,717 $1,191,400 $3842012 12 $1,624,000 $1,362,500 $460

Change 100% 40% 14% 20%

2011 384 $745,692 $574,750 $2512012 421 $716,129 $609,000 $267

Change 10% -4% 6% 6%

Condos($500K+)

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

Non-Waterfront Properties

SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 16 $717,188 $640,000 $2832012 21 $662,683 $660,000 $296

Change 31% -8% 3% 5%

O N E S O T H E B Y S R E A LT Y. C O MO N E S O T H E B Y S R E A LT Y. C O M

I N D E P T H C O M M U N I T Y P R O F I L E S I N D E P T H C O M M U N I T Y P R O F I L E S

1 0 I T R E N D S

CORAL GABLES

CocoplumCocoplum waterfront sales increased in volume

by 30% from 2011 to 2012 but decreased 16% in average sales price. Non-waterfront sales

declined by 53% in volume and 6% in average sales price. The highest sale in Cocoplum

last year closed for $4,216,590 - down from $7,500,000 in 2011.

Although sales activity remained at about the same pace in 2012 compared to 2011, prices declined for both waterfront and non-waterfront homes. It is important to note that of the 2 waterfront sales in 2012, one was a property on the lake and the other was on the canal but sold for land value. There are currently 14 homes on the market.

CORAL GABLES

Snapper Creek Lakes

280 Carabela Court, CocoplumOffered at $2,490,000

10801 Snapper Creek Road, Snapper Creek LakesOffered at $5,199,000

Waterfront Properties# of

TransactionsAverage

Sales PriceMedian

Sales PriceAverage$ / Sq Ft

Single Family Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

Single Family Homes

2011 6 $2,807,708 $1,950,000 $4192012 5 $2,020,000 $1,925,000 $327

Change -17% -28% -1% -22%


2011 2 $5,175,000 $5,175,000 $4512012 2 $3,100,000 $3,100,000 $445

Change 0% -40% -40% -1%


TransactionsAverage

Sales PriceMedian


# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

Single Family Homes

Single Family Homes


2011 10 $3,858,500 $3,500,000 $5512012 13 $3,259,584 $3,108,000 $533

Change 30% -16% -11% -3%

2011 17 $1,864,706 $1,700,000 $3442012 8 $1,743,750 $1,450,000 $319

Change -53% -6% -15% -7%

T R E N D S I 1 1O N E S O T H E B Y S R E A LT Y. C O MO N E S O T H E B Y S R E A LT Y. C O M


CORAL GABLES

Gables EstatesAfter years of low sales activity, 2012

brought a rebound to Gables Estates with more than 4 times the amount of

sales compared to 2011. Sale prices also increased - the median sales price doubled

and average sales price nearly doubled. The average sold price per square foot is among

the highest in the county, only behind Indian Creek and Key Biscayne waterfront.

555 Arvida Parkway, Gables EstatesOffered at $7,995,000

Ponce Davis, High Pines

Sales activity remained at about the same pace in 2012 compared to 2011, however, bank owned properties have declined. As

bank owned inventory is absorbed, sales prices have risen with a 12% increase in average sales price last year. There are

currently 18 homes for sale in the Ponce Davis area, including one with a full size

basketball court and squash court.

CORAL GABLES

Old Cutler Waterfront CommunitiesOld Cutler Bay, Hammock Oaks, Journey’s End

Sales were strong in 2012 in these communities with a double digit increase in sales activity and sales prices. The median sales price nearly doubled in 2012 compared to 2011. The most active of these neighborhoods were Old Cutler Bay and Hammock Oaks, with 5 and 4 transactions for 2012 respectively.

9570 Journeys End Road, Journey’s EndOffered at $8,450,000

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

Single Family Homes

2011 3 $5,243,000 $5,150,000 $9872012 13 $9,982,308 $10,500,000 $1,008

Change 333% 90% 104% 2%

All Properties

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

Single Family Homes

2011 8 $2,755,000 $2,140,000 $4412012 10 $4,154,625 $4,066,083 $565

Change 25% 51% 90% 28%


# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

Single Family Homes

2011 39 $1,286,000 $925,000 $3222012 40 $1,446,638 $947,500 $315

Change 3% 12% 2% -2%


1 2 I T R E N D S O N E S O T H E B Y S R E A LT Y. C O M

I N D E P T H C O M M U N I T Y P R O F I L E S

Coconut GroveWaterfront homes in Coconut Grove slowed

some in 2012 and the average price per foot remained relatively unchanged. The

real market movement was the increase in waterfront condo sales, which is up 15% from 2011. The new construction project Grove at

Bay has sold well and seems to have been the stimuli to get the condo market in the

Grove moving again.

Coconut GroveThe sale of off-water single family homes experienced price gains, while the number of units remain unchanged. Particularly popular, the contemporary homes have sold very well this year. The off-water condos, although a small sector of the market, did post big gains in the number of sales.

2645 S Bayshore Drive #1600, Coconut GroveOffered at $3,450,000

4060 Kiaora Street, Coconut GroveOffered at $4,650,000


TransactionsAverage

Sales PriceMedian


Single Family Homes

2011 7 $4,427,000 $3,440,000 $5782012 5 $3,835,200 $4,100,000 $573

Change -29% -13% 19% -1%

Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 88 $706,765 $552,500 $3502012 101 $823,494 $615,000 $381

Change 15% 17% 11% 9%

Non-Waterfront Properties# of

TransactionsAverage

Sales PriceMedian


Single Family Homes

2011 202 $622,320 $510,000 $2302012 201 $674,923 $519,000 $260

Change 0% 8% 2% 13%

Condos($500K+)

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 18 $720,306 $542,500 $2822012 28 $729,277 $607,500 $301

Change 56% 1% 12% 7%

Condos





9525 Southwest 69 Avenue, PinecrestOffered at $1,950,000

14865 Southwest 87 Court, Palmetto BayOffered at $349,900

North Pinecrest# of

TransactionsAverage

Sales PriceMedian


Single Family Homes

2011 38 $1,378,000 $1,175,000 $2662012 55 $1,312,845 $1,017,000 $269

Change 45% -5% -13% 1%

South Pinecrest# of

TransactionsAverage

Sales PriceMedian


Single Family Homes

2011 148 $814,055 $630,750 $2072012 169 $864,986 $675,000 $219

Change 14% 6% 14% 6%


TransactionsAverage

Sales PriceMedian


Single Family Homes

2011 264 $397,345 $385,000 $1382012 290 $404,971 $392,500 $141

Change 10% 2% 2% 2%

SingleFamily Homes

Palmetto BayPalmetto Bay continues to be a very active market with almost 300 sales in 2012. The decline in distressed properties has allowed prices to increase without having any drop off in sales. Overall, prices should continue to increase as inventory now begins to dwindle in Palmetto Bay.

PinecrestPinecrest continues to provide good value on a price per square foot basis. North Pinecrest

had a significant increase in the number of sales over 2011. Price points in South

Pinecrest are moving up in all indicators.

1 4 I T R E N D S

BRICKELL DOWNTOWN KEY BISCAYNE

Miami, Downtown

Photography credit: Kevin Coster



DowntownThe urban core experienced an increase in sales by 14% over 2011 with an average price per square foot around $314. Downtown is becoming known not only for its arts and culture but international commerce as well. The new development, One Bayfront Park, is slated to be the tallest building in Miami and scheduled to break ground by 2014. The Museum Park is presently at 50% completion and expected to open in 2015. With improvements like the riverfront walkways and ferrys to and from the beach, downtown is becoming a world-class waterfront city.

BrickellWhat a difference 3 years can make.

Known as the Manhattan of the South, Brickell sales are up 116% since 2009 and construction is again underway

with Brickell House, My Brickell, 1100 Millecento, and Brickell CitiCentre.

Investors saw the value and jumped in early and as a result rental rates are up 59% over 2011 and the overall average

price per square foot is up 24% to $331. As more restaurants and retail move in,

one can anticipate values to further climb in years to come.

465 Brickell Avenue #4901, MiamiOffered at $1,700,000

200 Biscayne Blvd Way #4807, Miami$1,525,000



Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 348 $236,995 $215,000 $2402012 370 $284,849 $269,000 $303

Change 6% 20% 25% 26%

Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 736 $436,058 $275,000 $2782012 703 $510,555 $340,000 $345

Change -4% 17% 24% 24%



Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 117 $219,045 $160,000 $2142012 124 $227,063 $188,500 $253

Change 6% 4% 18% 18%

Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 255 $401,603 $305,000 $2932012 299 $438,495 $369,000 $339

Change 17% 9% 21% 16%



Key BiscayneMedian price for acquiring a waterfront single family home in Key Biscayne in 2012 was about the same as the year before. A few sales with final selling prices much lower than the listing price caused the average and median selling price per square foot to “plunge” by respectively 35% and 23%. That trend will be quickly reversed because the properties offered for sale at the end of 2012 show prices per square feet which are higher than the 2011 prices, reaching as high as $4,455 per square foot. While 6 out of 16 properties sold for under $5,000,000, the asking prices for current offerings in January 2013 ranged from a minimum of $5,200,000 up to a maximum of $22,300,000. Of a total 23 waterfront properties for sale only two are under $1,000 per square foot. Prices are increasing at a fast pace for this luxury market and its exclusive lifestyle. It is also worthwhile to note the total number of transactions in 2012 showed a 78% increase in comparison to the preceding year.

1 6 I T R E N D S

260 Cape Florida Drive, Key BiscayneOffered at $15,900,000

Biscayne Corridor, Midtown

The Biscayne Corridor is rapidly growing with many entertainment venues and fine

dining options. Sales were up slightly by 2% and values climbed by 50% as the prices

of the downtown market increased and the area’s influx of entertainment and waterfront living skyrocketed, which drove the average

price per square foot up to the mid $200 range. As people travel from across the

globe to visit the Adrienne Arsht Center, Design District or dine in the Midtown

Miami area, one can only anticipate the values to rise along the Biscayne corridor.

New development Icon Bay at 28th Street is accepting reservations and has an

anticipated completion date of 2015.

View from Opera Tower1750 N Bayshore Drive, Miami



Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 210 $136,485 $116,500 $1412012 202 $213,101 $201,850 $211

Change -4% 56% 73% 50%

Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 351 $187,933 $157,000 $1672012 373 $275,120 $234,500 $238

Change 6% 46% 49% 43%


SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 9 $6,895,556 $6,500,000 $1,6622012 16 $6,998,625 $6,450,000 $1,278

Change 78% 2% 1% -23%





Key BiscayneThe median price to acquire a waterfront

condo in Key Biscayne was $750,000 in 2012 and the average price is upwards of

$1,000,000, at $1,110,426. While the increase in selling prices is minimal, the number of sale

transactions has jumped by 47% over 2011. Note that waterfront condos include all

buildings that have direct access to the ocean and its beach, but do not necessary mean

ocean views, which yields an incredibly wide range of prices: the lowest closed sale in

2012 was as low as $242,000 and the highest reached $5,900,000. Inventory at the time of this publication is very low, representing only 5 months of 2012 sales. Consequently, asking prices are higher and the median asking price

per square foot ($690) already shows a 49% increase versus median price per square foot

for 2012 closed sales. Without a doubt the market downtrend is over and recovery is well under way. Key Biscayne waterfront will always

attract international buyers from all over the world, be it for a residence or an investment.

781 Crandon Boulevard PH-1, Key BiscayneOffered at $3,990,000

Key BiscayneNon-waterfront homes in Key Biscayne have changed drastically in 2012. At time of publication, the lowest available listing is offered at $1,250,000. This sector has shown the shortest number of days on market, with median at 80 days. Prices will no doubt continue to increase, driven by low inventory (representing 6.5 months of 2012 closed sales) and an impressive median price for homes under contract in January 2013: at $2,270,000, it is 104% higher than the median price for pending contracts in January 2012. The most dynamic segment in Key Biscayne in 2012 has been non-waterfront condos. The lowest sale at $62,500 might never be seen again, confirmed by the fact that the lowest offering at the end of 2012 was $245,000, and inventory of properties for sale entering 2013 is low (representing 5 months of 2012 closed sales). 2011 and 2012 will be remembered as years of opportunity for non-waterfront ownership on the Key, mostly thanks to a series of short sales and foreclosures. While the latter represented 20% of all closed sales in 2012 and 36% of all closed sales in 2011, it is very revealing to notice that there was only one short sale available at the end of 2012.

325 Greenwood Drive, Key BiscayneOffered at $5,700,000


SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 57 $1,556,011 $1,300,000 $5642012 59 $1,778,424 $1,525,000 $610

Change 4% 14% 17% 8%

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft


Condos

Condos

2011 165 $1,076,761 $730,000 $4932012 242 $1,110,426 $751,250 $520

Change 47% 3% 3% 6%

2011 61 $260,603 $215,000 $2402012 59 $368,785 $319,000 $291

Change -3% 42% 48% 21%

1 8 I T R E N D S

Miami BeachSOUTH BEACH MID BEACH NORTH BEACH SOUTH OF FIFTHFISHER ISLAND PALM, STAR, & HIBISCUS ISLANDS SUNSET ISLANDSVENETIAN & LA GORCE ISLANDS NORTH BAY ROAD & PINETREE DRIVE




Condos

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

Average$ / Sq Ft

2011 2,044 $516,538 $260,000 $387

2012 2,031 $624,597 $310,000 $453Change -1% 21% 19% 17%

2011 105 $3,116,128 $1,900,000 $584

2012 121 $3,819,953 $2,700,000 $671

Change 15% 23% 42% 15%

OVERVIEW

Miami Beach2012 saw a 11% increase in non-waterfront home sales in Miami Beach with a modest increase in median sales price and slight decrease of average sales price. REO and short sales also decreased by one third versus 2011. Last year saw only 1 sale above $3 million, while 2011 put a sale over the $4 million mark. 2011 also had 9 sales in $2-3 million price band whereas 2012 had only 5. Last year saw a 44% increase of sales in the $1-2 million range over 2011, balancing out the higher sales seen in 2011. At time of publication, the price range of non-waterfront homes under $1 million is in very short supply in Miami Beach. Non-waterfront Miami Beach condos continue to offer great values, and most are just a hop-skip-and jump to the beach. REOs in this category are drying up and average price per square foot saw a robust 20% increase. Along with the new street-scape projects currently underway, the neighborhoods are getting better and better. Now if we can only find a parking space.

OVERVIEW

Miami Beach2012 Miami Beach waterfront home market

took a 42% increase in median sales price with 29 sales in the $5-10 million price

bracket versus only 10 sales in 2011 in that range. Major trend: the tripling of sales in the $5-10 million price band, with days on market down by almost half compared to

2011. Waterfront condos are in stronger demand than ever before. With 7.8 months

of inventory active, Miami Beach has not kept up with that of Miami at large. This is

no surprise as a resort-community attracting affluent end-users more than investors.

What’s next on Miami Beach? A handful of dazzling new developments! The new

projects are truly creative and are resetting the bar for luxury condos. No expense is

spared as developers are catering to those who demand the best. Our eyes are on the

oceanfront stretch between South Beach and Millionaire’s Row, the most up and coming of

neighborhoods along Miami Beach.

7725 Atlantic Way, Miami BeachOffered at $14,900,000

6085 Alton Road, Miami BeachOffered at $2,995,000

Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft


SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 1,000 $186,705 $130,000 $2172012 958 $239,955 $155,000 $261

Change -4% 29% 19% 20%

2011 172 $779,567 $655,000 $2872012 191 $775,333 $680,000 $306

Change 11% -1% 4% 7%

2 0 I T R E N D S O N E S O T H E B Y S R E A LT Y. C O MO N E S O T H E B Y S R E A LT Y. C O M


MIAMI BEACH

Mid BeachThis is the only condo sector which saw an

increase in number of transactions. There were no new buildings introduced in 2012 to influence this.

There’s a lot to look out for in 2013. Residences at Marriott Edition and Faena House are both

launching with average price per square foot over $2,000/sf. Each will have new structures added on

the existing historic buildings. A soon to launch 7 unit (plus Penthouse) boutique property at

36th Street. The Crown at 40th Street was just purchased by one of the Pritzker companies.

What does this mean? A boutique oceanfront neighborhood from 45th street south to 29th

streets – just a four block jaunt to South Beach.

MIAMI BEACH

South BeachActive inventory is down about 5% as a whole – though buildings such as the Floridian South Beach and Waverly South Beach are down to about a dozen listings each and pricing is well up. Appreciating market values have returned. What to look out for in 2013? The anticipated launch of the residences at The Perry (formerly Gansevoort South Beach, and expected to be rebranded yet again). Palau will soon launch in the coveted Sunset Harbor. And a luxury retail plus rentals complex is destined to launch at the gateway to South Beach at the foot of the MacArthur Causeway on Alton Road.

MIAMI BEACH

North BeachOnce the most troubled market sectors in Miami Beach, NoBe has clearly stabilized and demonstrates solid footing with a whopping increase in average price per square foot. Available inventory is down 67%. New? The defunct NoBe Bay has been re-branded as Eden House and has SOLD OUT! Just down Indian Creek Drive, Regatta 2 has been re-branded as Peloro, and buyer demand is strong. We are hearing and seeing other signs of new construction along the ocean with new hotel and rental projects.

3801 Collins Avenue PH-1, Miami BeachOffered at $5,490,000

1455 Ocean Drive #1603/4, Miami BeachOffered at $6,950,000

7330 Ocean Terrace #20C, Miami BeachOffered at $615,000


# of Transactions

AverageSales Price

MedianSales Price

Average $ / Sq Ft

2011 861 $784,753 $375,000 $5482012 897 $909,405 $430,000 $625

Change 4% 16% 15% 16%


Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 568 $395,510 $260,000 $3432012 533 $480,337 $300,000 $362

Change -6% 21% 15% 6%


Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 615 $252,817 $170,000 $2112012 601 $327,456 $190,000 $275

Change -2% 30% 12% 30%


Condos



MIAMI BEACH

Fisher IslandAside from the exquisite properties and resort island lifestyle the enclave offers, Fisher Island remains lackluster respective to the other Miami Beach market sectors. Average price per square foot remains flat. The number of distressed properties has more than doubled from 2011. However, when you consider there are a few dozen sales on the Island in any given year – these numbers remain small. Inventory down 22% from the end-of-year 2011 level, respective to number of transactions down 9%. All in all, the tides continue to turn in favor of the Seller in one of the most desirable resort islands in the country.

MIAMI BEACH

South of FifthSoFi. The little darling of Miami Beach real

estate. The inventory here continues to shrink. In some respects, you might even say it is

nonexistent! Demand is high. Multiple offers are the norm. If you find something of interest,

move on it fast! Looking for an REO listing? Forget it. The average price per square foot

in this sector is almost double the overall Miami Beach waterfront average. Looking

for something at Apogee? Only 6 units are active at time of press. Continuum South?

15. Continuum North still has a Developer’s inventory – so it has a whopping 29 units.

Though even this is well down from end of 2011. Interested in something new? One

Ocean opened its doors to reservations in mid-2012 to incredible demand and virtually sold

out averaging $1,500 per square foot. And the project is not even waterfront!

T R E N D S I 2 1

100 S Pointe Drive #2305, Miami BeachOffered at $6,649,000

5171 Fisher Island Drive #5171, Fisher IslandOffered at $12,900,000O N E S O T H E B Y S R E A LT Y. C O M

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 242 $1,430,640 $906,250 $7212012 232 $1,796,830 $1,217,500 $835

Change -4% 26% 34% 16%


Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 44 $2,623,898 $1,999,500 $7092012 40 $2,375,440 $2,000,000 $715

Change -9% -9% 0% 1%

All Properties

Condos

2 2 I T R E N D S O N E S O T H E B Y S R E A LT Y. C O MO N E S O T H E B Y S R E A LT Y. C O M




MIAMI BEACH

Sunset IslandsSunset Islands saw a staggering increase in sales in 2012. Last year saw 2 sales over the

$10 Million mark, whereas 2011 saw only 1. The major trend is the shift of the majority of sales

transacting in the $5-10 Million range (9 in 2012 and only 3 in 2011). The $3-5 Million range saw 4 sales in 2012 versus 1 in 2011. The huge $19.8

Million sale in 2011 caused a slight decrease in average sales price in 2012. Days on market

increased significantly but this number was skewed by the fact that homes listed for several

years finally sold. Sales were driven by homes on larger, estate sized lots as buyers are recognizing the value of our ever decreasing resource - land!

1821 West 24 Street, Miami BeachOffered at $5,900,000

MIAMI BEACH

Palm, Star & Hibiscus IslandsThe highest sale on these prestigious islands in 2012 was $14.325M versus $25.5M in 2011. This drove up average sales price in 2011 but the median price is up 52% in 2012! Predominantly sales in 2012 were between $5-6M while 2011 saw no sales in this range. Important to note: 2011 saw 4 lot sales with 3 on Hibiscus and only 1 on Star; 2012 had 3 lot sales all on Star, selling at $8.5-9M with 1 home on Star Island selling at land value. This has led to proposed change in zoning ordinances in Miami Beach to prevent buyers from tearing down historically significant homes.

MIAMI BEACH

Venetians,La Gorce Island The sales volume on the Venetians and La Gorce Island declined slightly from 2011 to 2012. The average and median sales prices saw a 31% and 60% increase respectively as the area saw a price band shift with almost double the sales in the $3-5 and $ 5-10M range in 2012 (11) over 2011 (7). Both years saw equal sales in the $2-3M range but 2012 only had 2 sales in the $1-2M price category versus 7 in 2011.

82 La Gorce Circle, Miami BeachOffered at $14,750,000

271 N Hibiscus Drive, Miami BeachOffered at $16,500,000

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft


Single Family Homes

2011 6 $7,037,500 $5,000,000 $9232012 16 $6,811,013 $7,200,000 $986

Change 267% -3% 44% 7%

Condos2011 12 $7,899,000 $3,600,000 $8942012 11 $7,707,000 $5,483,000 $1,154

Change -8% -2% 52% 29%


TransactionsAverage

Sales PriceMedian


Single Family Homes

2011 21 $3,196,387 $2,350,000 $7042012 19 $4,172,816 $3,750,000 $848

Change -10% 31% 60% 20%


TransactionsAverage

Sales PriceMedian


Single Family Homes




MIAMI BEACH

North Bay Road, Pine Tree Drive

The Pine Tree Drive and North Bay Road market has seen a marked shift in the price

bands of homes sold in 2012. In 2011, 8 sales were between $3-5 Million with the highest sale at $10.6 Million, which pushed the median price

up for 2011 in this sector. In 2012 7 sales were in the $5-10 Million range predominantly with 2 sales over the $10 Million mark. There were

no 2012 sales in the $3-5 Million range and only 1 in $2-3 Million range. 1 houses sold between

$1-2 Million, while 3 sold in this bracket in 2011. This trend drove up the median price for 2012

by a whopping 70% but days on market also increased as higher-priced houses took longer

to sell. Average sale price per square foot increased minimally indicating that larger homes sold overall, hence the larer increases in median

and average sales prices. Many ultra luxurious homes are under construction on the southern

end of North Bay Road.

MIAMI BEACH

Indian Creek2012 was THE YEAR for Indian Creek Island! Sales transacted more than tripled last year. Two record-breaking sales for Miami-Dade County occurred on the island at $47M and $38M. Indian Creek also saw 4 lot sales and 1 house that sold at land value in 2012: will this bring the construction of new mega luxury estates on the island in 2013 and 2014? We think so!

4424 North Bay Road, Miami BeachOffered at $8,900,000

14 Indian Creek Drive, Miami BeachSold in March 2012 for $39,400,000*Buyer and Seller represented by ONE Sotheby’s International Realty


2011 15 $4,649,621 $4,000,000 $7052012 12 $6,868,750 $6,800,000 $776

Change -20% 48% 70% 10%


TransactionsAverage

Sales PriceMedian


Single Family Homes


TransactionsAverage

Sales PriceMedian


Single Family Homes

2011 2 $14,750,000 $14,750,000 $1,9222012 7 $23,007,857 $18,555,000 $2,053

Change 350% 56% 26% 7%

2 4 I T R E N D S

BAL HARBOUR GOLDEN BEACH BAY HARBOR ISLANDSAVENTURA SUNNY ISLES

North of Miami

10295 Collins Avenue #1207, Bal HarbourOffered at $5,999,999



T R E N D S I 2 5

Bal HarbourThe Bal Harbour waterfront home market

realized 2 sales in 2012: a vacant lot was sold for $5.5 Million and a single family home

closed for $8.3 Million, returning the exclusive and distinctive Bal Harbour homes to the

real estate map. Within the condo market, there has been evidence of acceleration in the latter half of 2012. Average sale prices increased by 51% and inventory levels are

relatively unchanged in recent weeks.

Bal HarbourThe Bal Harbour single family home market kept its positive trend in both waterfront and non-waterfront homes. With the dry-lots we observe a 31% increase in sales price and an 18% increase in the price per square foot, without any distressed property sales.

10295 Collins Avenue #1601/2, Bal HarbourOffered at $6,700,000

MedianSales Price

AverageSales Price

# of Transactions

MedianSales Price

AverageSales Price

# of Transactions

SingleFamily Homes

Average$ / Sq Ft

Average$ / Sq Ft

Condos


2011 144 $837,104 $475,000 $7602012 136 $923,870 $490,000 $960

Change -6% 10% 3% 26%

[2010] 1 $2,800,000 $2,800,000 $7082012 2 $6,900,000 $6,900,000 $796

Change 100% 146% 146% 12%


TransactionsAverage

Sales PriceMedian


SingleFamily Homes

2011 9 $1,725,778 $1,250,000 $4012012 6 $2,259,336 $2,120,000 $473

Change -33% 31% 70% 18%



2 6 I T R E N D S

Golden BeachGolden Beach has shown signs of an upward-

trending market. Celebrity home sales and the unparalleled beachfront living reflect on

the 12% increase in sales price. With non-waterfront homes, sales transactions have

doubled and sales prices increase by 39% . With a considerable increase in demand and fewer homes listed, this has contributed to a

relatively long run of increasing prices.

Bay Harbor IslandsThree single family homes sales were registered in 2011, with average sales prices in the lower $2 million range. In 2012, sales prices increased by 35% without any distressed property transactions. We currently observe five waterfront homes for sale, with pricing beginning at $1,650,000.

516 N Parkway Street, Golden BeachOffered at $11,000,000

# of Transactions

# of Transactions

AverageSales Price

AverageSales Price

MedianSales Price

MedianSales Price

Average$ / Sq Ft

Average$ / Sq Ft

2011 17 $3,126,279 $2,275,000 $5432012 12 $3,435,417 $2,556,000 $693

Change -29% 10% 12% 28%

2011 8 $720,625 $772,500 $2212012 18 $1,003,550 $930,000 $276

Change 125% 39% 20% 25%



Single Family Homes

Single Family Homes

AverageSales Price

MedianSales Price

Average$ / Sq Ft


Transactions

Single Family Homes

2011 3 $2,204,000 $2,692,000 $4882012 1 $2,975,000 $2,975,000 $781

Change -67% 35% 11% 60%



T R E N D S I 2 7

AventuraAventura is positioning itself as one of the

most desirable condo markets, offering an attractive price per square foot in large

capacity condo units. New development projects such as Bellini Williams Island are elevating Aventura to higher luxury levels with great affordability. According to the sales recorded in 2011 and 2012 there has

been a steady 13% increase in sales prices, 12% increase in number of transactions and a

dramatic soar of distressed property sales.

Sunny IslesThe Sunny Isles Beach market continues to climb and become more diverse. With a substantial 21% increase in sales price and a significant reduction in distressed property sales, this waterfront condo market is rolling out the red carpet to some of the most ambitious new projects in South Florida: Regalia, with pricing starting at $6 Million, Porsche Design, Jade Signature, and Aqualina Mansions with a staggering $57 Million Penthouse. 2012 has repositioned Sunny Isles as one of the top players within the South Florida oceanfront condo market.

3301 Northeast 183 Street #1004, AventuraOffered at $1,595,000

17001 Collins Avenue #4201, Sunny IslesOffered at $2,799,900 or $9,500/month

2011 545 $357,569 $280,000 $2052012 613 $404,334 $320,000 $227

Change 12% 13% 14% 11%


TransactionsAverage

Sales PriceMedian


Single Family HomesCondos


TransactionsAverage

Sales PriceMedian


2011 1,283 $411,280 $201,000 $3812012 1,412 $495,728 $260,000 $452

Change 10% 21% 29% 19%

Condos

2 8 I T R E N D S

LAS OLAS ISLES HARBOR BEACH LAUDERDALE BY THE SEALIGHTHOUSE POINT RIO VISTA HILLSBORO BEACH

FORT LAUDERDALE BEACH VICTORIA PARKHOLLYWOOD & HALLANDALE BEACH CORAL RIDGE BAY COLONY

Fort Lauderdale



OVERVIEW

Fort LauderdaleThe most active segment in the Fort Lauderdale market was the sale of non-waterfront homes, with almost 1,400 homes sold in 2012. With most of the lowest price inventory already sold, the average and median price have started to climb.

OVERVIEW

Fort LauderdaleFort Lauderdale waterfront homes saw

modest increase in number of transactions although prices were relatively the same for the average sold prices. Median sold

prices rose up 11% and number of sold distressed properties fall up to 50% down.

With less number of sold waterfront condos in Fort Lauderdale in 2012 we see

a substantial increase in market value. Clearly it is a sellers market with a fewer inventory and higher selling perices for

this segment of the market.

512 Seven Isles Drive, Fort LauderdaleOffered at $8,951,000

1637 NE 19 Street, Fort LauderdaleOffered at $549,000

Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft


SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 363 $1,046,503 $695,000 $2922012 388 $1,080,777 $771,750 $272

Change 15% 3% 11% -6%

Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft


Single Family Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 1,326 $189,193 $110,500 $107

2012 1,365 $228,446 $140,000 $102Change 3% 21% 27% -5%

2011 1,109 $161,301 $127,000 $127

2012 964 $186,683 $146,300 $132Change 13% 16% 15% 4%

2011 1,160 $312,638 $225,000 $2122012 1,082 $370,674 $265,000 $233

Change -7% 19% 18% 10%

3 0 I T R E N D S


Single Family Homes

Single Family Homes


Single Family Homes

Single Family Homes



Harbor Beach continues to be one of the most sought-after neighborhoods in Fort Lauderdale. Sales of waterfront homes was reduced by 21%, which could be attributed to a signifcant increase in both average and median sales prices, with median sales price jumping a whopping 73%. Price per square foot also saw a large jump in 2012 for waterfront homes. Non-waterfront homes surged in number of transactions with a significant increase versus 2011 and a moderate drop in average price per square foot.

FORT LAUDERDALE

Harbor Beach

FORT LAUDERDALE

Las Olas IslesLas Olas Isles are located directly off Las

Olas Boulevard and include Coral Isles, Idlewyld, Riviera Isles, Navarro Isle, Nurmi Isles, Hendricks Isle, Isle of Venice, Isle of Capri, Coconut Isle, and Las Olas Seven

Isles. Most waterfront homes offer dockage. Canal depth varies from 4-12 feet around the

area. This exclusive community saw fewer waterfront homes sold in 2012 versus 2011. REO transactions represented less than 1%

for waterfront homes sold in 2012, compared to 10% for 2011. Non-waterfront homes saw

2 more transactions last year compared to 2011, with slight dips in both average and

median sales prices. It is interesting to note that no REO transactions were observed in non-waterfront homes in this community in

both 2011 and 2012.

2200 S Ocean Lane #2609/10, Fort LauderdaleOffered at $2,795,000

2500 Delmar Place, Fort LauderdaleOffered at $2,999,000


TransactionsAverage

Sales PriceMedian


2011 10 $619,336 $585,000 $2822012 17 $647,735 $575,000 $243

Change 70% 5% -2% -14%

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 19 $2,044,281 $1,412,500 $393

2012 15 $2,742,000 $2,450,000 $509Change -21% 34% 73% 30%



Single Family Homes

Single Family Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft


TransactionsAverage

Sales PriceMedian



Single Family Homes

Single Family Homes

2011 5 $818,000 $725,000 $2782012 7 $733,643 $685,000 $295

Change 40% -10% -6% 6%

2011 68 $1,963,524 $1,562,814 $4322012 61 $1,987,482 $1,552,000 $455

Change -10% 1% -1% 5%




T R E N D S I 3 1

FORT LAUDERDALE

Lighthouse PointStill the most active waterfront market in Broward county, Lighthouse Point saw increases in the number of homes sold both on and off water. Waterfront prices dipped below the $1 million mark on average even though the price per square foot remained virtually unchanged. Homes on dry lots posted price increases across all indicators.

FORT LAUDERDALE

Lauderdale by the SeaSales of waterfront homes in Lauderdale

by the Sea more than doubled in 2012. A decrease in sales price started the sales

movement, but by year-end the price per square foot was well above the average for the first six months of the year. Off

water properties ran slightly ahead of 2011 in prices, but inventory shortages kept the

number of sales lower than last year.

1600 S Ocean Blvd #1004, Fort LauderdaleOffered at $1,988,000


TransactionsAverage

Sales PriceMedian


2011 26 $386,954 $343,500 $1902012 17 $421,806 $393,500 $199

Change -35% 9% 15% 5%

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 10 $918,100 $935,750 $3072012 23 $728,413 $675,500 $293

Change 130% -21% -28% -5%



Single Family Homes

Single Family Homes


TransactionsAverage

Sales PriceMedian


2011 88 $1,018,563 $791,250 $2832012 95 $893,264 $661,000 $280

Change 8% -12% -16% -1%


TransactionsAverage

Sales PriceMedian


2011 72 $305,250 $289,950 $150

2012 83 $346,869 $339,500 $160Change 15% 14% 17% 7%

Single Family Homes

Single Family Homes



3 2 I T R E N D S

Single Family Homes

Single Family Homes

Single Family Homes

Single Family Homes



FORT LAUDERDALE

Rio Vista, Lauderdale Harbors

An exclusive community close to downtown Fort Lauderdale, Rio Vista boasts no bridge

access to the ocean - a boater’s dream come true! Total number of sales remained the same both years for waterfront homes, which saw a 24% increase in average sales

price.Transactions for non-waterfront homes increased significantly with a small 7%

increase in average sales price. Foreclosures for non-waterfront properties increased slightly, representing 9% of sales in 2012

compared to 7% in 2011.

FORT LAUDERDALE

Hillsboro BeachThis enclave of waterfront homes remains stable in the number of the transactions and shows an outstanding raise in property value of 36% for both average and sold prices.

901 Southeast 7 Street, Fort LauderdaleOffered at $1,295,000

2011 2 $5,950,000 $5,950,000 $7732012 2 $8,075,000 $8,075,000 $796

Change 0% 36% 36% 3%


TransactionsAverage

Sales PriceMedian


Single Family Homes


TransactionsAverage

Sales PriceMedian


2011 14 $1,424,600 $1,375,750 $3322012 14 $1,773,107 $1,218,750 $441

Change 0% 24% -11% 33%


TransactionsAverage

Sales PriceMedian


2011 27 $560,889 $500,000 $2492012 44 $601,736 $460,000 $259

Change 63% 7% -8% 4t%

Single Family Homes

Single Family Homes

1063 Hillsboro Mile #508, Hillsboro BeachOffered at $1,650,000

T R E N D S I 3 3


Single Family Homes

Single Family Homes


Single Family Homes

Single Family Homes





FORT LAUDERDALE

Victoria Park, Sunrise Key,

Colee HammockA cozy residential neighborhood nestled

in the heart of downtown Fort Lauderdale, Victoria Park is a vibrant community that

retains its Old Florida charm. This area saw a large increase in the number of

transactions in 2012 despite a much lower number of REO sales for the year, with zero

REO sales in the waterfront sector and a steady 8% for both years for non-waterfront homes. Both waterfront and non waterfront

saw large increases in average sales price.

1110 SE 4 Street, Fort LauderdaleOffered at $3,500,000


TransactionsAverage

Sales PriceMedian


2011 14 $721,879 $597,500 $2522012 11 $731,136 $600,000 $223

Change -21% 1% 0% -12%

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 8 $1,711,750 $950,000 $4142012 5 $1,778,000 $2,300,000 $351

Change -38% 4% 142% -15%


FORT LAUDERDALE

Fort Lauderdale BeachThe shortage of inventory of single family homes in Fort Lauderdale Beach is evident in the decrease in the number of sales. The median waterfront sale moved up considerably, mirroring the overall trend of the more expensive properties moving faster than the rest of the market. The proposed redevelopment of North Beach Village as the up and coming trendy location may bring some higher values and inventory to the market in 2013.


Single Family Homes

Single Family Homes

101 S Ft Lauderdale Beach Blvd #2801Offered at $2,899,000


# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 5 $998,000 $1,045,000 $4092012 23 $1,564,348 $1,356,000 $422

Change 360% 57% .03% 10%


# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 50 $385,080 $337,500 $2272012 84 $551,097 $490,000 $254

Change 68% 43% 45% 11%

Single Family Homes

Single Family Homes

FORT LAUDERDALE

Hollywood Beach,Hallandale BeachThe Hollywood-Hallandale beach market is benefiting from the influx of investors chasing deeply-discounted condo resales. Single family homes remain steadily active as average sold prices continue to rise. The very active non-waterfront condo market in this sector is due to widely accessible price ranges. Increased property values and a decrease of the percentage of REO transactions, down to 22% versus 32% in 2011, indicate the absorption of inventor and possible evidence of market improvement.

FORT LAUDERDALE

Hollywood Beach,Hallandale Beach

A gated community of waterfront homes with oversize docks on deepwater canals

and no fixed bridges, Golden Isles in Hallandale is considered a hidden gem

among avid boaters. Waterfront homes saw minimal changes in number of transactions last year, but an impressive 34% increase to

median sales price indicates prices are on the rise. Bank owned properies continue

to be a strong influence in the Hollywood and Hallandale waterfront condo market,

representing 15% of sales in 2012.

3 4 I T R E N D S

5369 Southwest 34 Avenue, HollywoodOffered at $449,000

1051 S Northlake Drive, HollywoodOffered at $2,295,000



Condos

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft


SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 1,448 $147,186 $115,750 $962012 1,461 $180,569 $130,000 $98

Change 1% 23% 12% 2%

2011 1,168 $87,953 $65,000 $792012 1,154 $100,052 $74,500 $75

Change -1% 14% 15% -5%

Condos

SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft


TransactionsAverage

Sales PriceMedian


2011 97 $492,491 $222,000 $1802012 94 $542,113 $298,500 $138

Change -3% 10% 34% -23%

2011 1,537 $225,808 $160,500 $3632012 1,395 $263,247 $187,000 $170

Change -9% 17% 17% -53%Condos

SingleFamily Homes

T R E N D S I 3 5

FORT LAUDERDALE

Coral Ridge, The LandingsCoral Ridge and The Landings fared very well in 2012 with sales of waterfront homes doubling and average sales price increasing slightly. Non-waterfront homes also saw a huge increase in number of transactions with a slight increase in both average and median sales price and a substantial 20% decrease in average price per square foot.

FORT LAUDERDALE

Bay ColonyOne of the most exclusive addresses in the area, Bay Colony is one of only two

guard gated waterfront communities in Fort Lauderdale. This luxury enclave features wide,

deep protected interior canals with no fixed bridges, lush landscaping along its streets,

and estate style homes boasting deepwater dockage for avid boaters. In 2011, 4 homes

sold and in 2012 that number increased to 6. Interestingly enough, average and median sales

prices also both increased significantly.

2616 Northeast 34 Street, Fort LauderdaleOffered at $699,000



2011 4 $1,112,500 $1,112,500 $319

2012 6 $2,000,000 $2,025,000 $313Change 50% 80% 82% -2%


TransactionsAverage

Sales PriceMedian


Single Family Homes



TransactionsAverage

Sales PriceMedian


2011 35 $556,157 $525,000 $2302012 114 $570,676 $535,000 $185

Change 226% 3% 2% -20%

# of Transactions

AverageSales Price

MedianSales Price

Average$ / Sq Ft

2011 48 $1,050,176 $749,000 $3222012 102 $1,100,288 $995,000 $326

Change 113% 5% 33% 1%


Single Family Homes

Single Family Homes


COMMUNITY FEATURESDirect beach access

Private, gated residential community

24-hour security

Exquisite landscaping throughout

Beachside boardwalk from 63rd - 79th street

Minutes from South Beach & Bal Harbour Shops

WWW.ALTOSDELMARMIAMIBEACH.COM

THE ONLY OCEANFRONT ESTATESIN MIAMI BEACH

PRIVATE RESIDENCES

$10,900,000 - $14,900,000

BUILD YOUR OWN BEACH HOUSE

LOTS AVAILABLE

$995,000 - $3,999,000

TRENDS IS PROVIDED BY:

ONE Sotheby’s International Realty1 877 630 8155www.onesothebysrealty.com

This material is based upon information that we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. This offering is subject to errors, omissions, changes, including price, or withdrawal without notice. ©MMXIII Sotheby’s International Realty Affiliates LLC. All Rights Reserved. An Equal Opportunity Company. Equal Housing Opportunity.

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trends 2012 year in review

Documents

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market growth

super luxury market

different market

rate of sales

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