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

M I D - Y E A R U P D A T E

2015

R E A L E S T A T E M A R K E T R E P O R T

M I A M I B E A C H

Current Status: Miami-Dade*

Number of Transactions (YTD)

Average Price per Square Foot (YTD) 1

Luxury Spotlight (YTD)

935

$445

$1M to $5M Transactions

$5M to $10M Transactions

$10M+ Transactions

Avg. Home Price

$2,058,176Avg. Home Price

$6,834,424Avg. Home Price

$15,966,667

# Sold

37239.8% of total transactions

# Sold

414.3% of total transactions

# Sold

151.6% of total transactions

# Listed

996# Listed

128# Listed

91

* Numbers include only the county’s most prominent neighborhoods. For a full list, visit onesothebysrealty.com/trends (p. 4).

Miami-Dade County’s housing market offers a broad variety of single-family, townhome and

condominium properties. From $10-million-dollar-plus mansions in exclusive waterfront

enclaves like Indian Creek Village and Golden Beach to downtown Miami skyscrapers and

historic Coral Gables properties, Miami-Dade’s luxury market is substantial and diverse.

Miami has a vibrant and growing condominium market of both new and resale homes

and a strong luxury, single-family market, reflecting its emergence as a globally significant

property market that attracts buyers from throughout the Americas and beyond.

South BeachSouth Beach has remained an undoubtedly popular submarket, attracting local, domestic

and international buyers alike. Pricing at the sought-after South Beach condominiums

Continuum North, Portofino Tower and Apogee has continued to steadily increase, at

an average of 15%–35% per square foot. New mid- and high-rise condominiums such

as Marea and Glass sold very well, reflecting untapped demand in the submarket,

particularly in the exclusive South of Fifth area.

The Condo Market (YTD)1,2

Spotlight: South of Fifth (YTD)1

Apogee

AverageSales Price ^

$8.00M

AveragePPSF^

$2,578

No changefrom

1st Half 2014

Continuum South

Continuum North

Murano Portofino

Portofino Tower

Murano Grande

Icon South Beach

% Sample Traded † Avg. Sales Price Avg. S.F. Avg. $/S.F. % Change ($/S.F.)

NWF‡ 1% g 5%$6711,158$776,750

WF‡ 2% $1,5641,900$2,971,102 g 7%

AverageSales Price ^

$2.80M

AveragePPSF^

$1,279

g 24%

from 1st Half 2014

AverageSales Price ^

$4.73M

AveragePPSF^

$1,891

h 13%

from 1st Half 2014

AverageSales Price ^

$2.30M

AveragePPSF^

$1,877

g 15%

from 1st Half 2014

AverageSalesPrice ^

$3.35M

AveragePPSF^

$1,454

g 1%

from 1st Half 2014

AverageSales Price ^

$3.00M

AveragePPSF^

$1,345

g 35%

from 1st Half 2014

AverageSales Price ^

$1.54M

AveragePPSF^

$1,012

h 5%

from 1st Half 2014

1. All percentage changes were calculated comparing 1st Half 2015 to 1st Half 2014.

* The top 50% of each market, by average price.

Mid BeachThe Mid Beach area has seen significantly faster appreciation as buyers are lured further

north by new developments such as The Edition, 1 Hotel & Residences and Thompson

Miami Beach as well as to new condominiums such as Beach House 8. North Bay Road,

with four waterfront transactions, saw an average waterfront home price of over $25

million. Mid Beach condos saw double-digit appreciation over the first half of 2014 both

on a per-square-foot and total basis, reflecting the area’s increasing desirability.

The Condo Market (YTD)1,2

The Single-Family Home Market (YTD)1

WF ‡

% Sample Traded †

2%

Avg. Sales Price Avg. S.F. Avg. $/S.F. % Change ($/S.F.)

$1,0161,366$1,388,208 g 16%

Non-Waterfront: Avg. $/S.F.

Mid Beach

La Gorce Subdiv. - Alton Rd.North Bay Road

Pine Tree Drive La Gorce Subdiv. - La Gorce Dr.

$2,200$1,100$0

$477

$429$492

$443$480

g 7%

g 55%

h 9%h 18%h 18%

$2,200$1,100$0

$1,670

$920$2,102

g 57%

g 7%

Waterfront: Avg. $/S.F.

La Gorce Subdivision, North Bay Road and Pine Tree Drive are subsections of the Mid Beach market area.

Avg. Home Price

$1,675,817

$1,827,050

$1,525,000

$1,900,000

$2,295,000

Mid Beach

N. Bay Road

Pine Tree Drive

L.G.S. - Alton Rd.

L.G.S. - La Gorce Dr.

Non-Waterfront

h 3%

g 3%

h 32%

g 9%

g 32%

Avg. Home Price

$14,610,000

$25,750,000

$4,800,000

Mid Beach

N. Bay Road

Pine Tree Drive

Waterfront

g 67%

g 49%

h 31%

Spotlight: Luxury Single-Family Home Transactions*

‡ WF: Waterfront / NWF: Non-Waterfront

La Gorce Sub., Alton Rd.: no waterfront market

La Gorce Sub., La Gorce Dr.: no waterfront market

g 51%

North BeachThere is a substantial price gap between North Bay Village and North Beach, mostly

attributable to North Bay Village’s lack of oceanfront sales, which lift North Beach’s average

pricing. North Beach may become increasingly competitive with the rest of Miami Beach

thanks to recent improvements that include a new O Cinema and dog park, as well as a

rumored “international university” campus. New condo development has also resumed,

with the proposal of higher end condominium towers at 8701 and 6901 Collins Avenue.

WF‡

% Sample Traded †

3%

Avg. Sales Price Avg. S.F. Avg. $/S.F. % Change ($/S.F.)

$9891,622$1,603,868 h 4%

North Bay VillageThe North Beach and North Bay Village submarkets generally underperformed those of

South Beach and Mid-Beach in the past twelve months, with PSF sales prices slightly

decreasing and total prices remaining largely level. Generally, North Bay Village trades at

a discount given the lack of oceanfront property in its sample. It has remained a desirable

residential area, although perhaps one more suited to rental developments such as MODA

at North Bay Village and the Shorecrest Club Apartments, currently under construction.

WF

% Sample Traded †

3%

Avg. Sales Price Avg. S.F. Avg. $/S.F. % Change ($/S.F.)

$2681,253$335,528 h 6%

The Condo Market (YTD)1,2

The Condo Market (YTD)1,2

2. Condo sections do not contain a Luxury Spotlight, since the product sample is already representative of the high-end market.

©MMXV ONE Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty® is a licensed trademark to Sotheby’s In-ternational 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).

View our full 2015 TRENDS Real Estate Report:

onesothebysrealty.com/trends

Interested in following live stats and listing activity?

Please visit onesothebysrealty.com/miami-beach.