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

B R I C K E L L & D O W N T O W N M I A M I

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.

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

BrickellTwo of Brickell’s three submarkets (Brickell Waterfront, Brickell Non-Waterfront and

Brickell Key) saw strong appreciation, with waterfront properties leading the increase

at 11%. Brickell has become one of the most popular condo submarkets in the current

development cycle, and resale prices of $450 PSF to $670 PSF are supporting pricing on

new developments. The highly anticipated Brickell City Centre (to be delivered next year)

will be the bellwether for Brickell’s non-waterfront market moving forward.

The Condo Market: Brickell (YTD)1,2

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

NWF ‡ 2% g 7%$450979$440,097

WF ‡ 2% $6701,612$1,080,039 g 11%

The Condo Market: Brickell Key (YTD)1,2

WF ‡

% Sample Traded †

1%

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

$5651,658$936,611 h 4%

Brickell

Downtown & EdgewaterDowntown Miami pricing remains largely unchanged, as a decline in waterfront pricing

was partially offset by an increase in inland pricing along Biscayne Boulevard. Edgewater

also saw modest price declines, although the large number of new developments such

as Icon Bay and Paraiso Bay appear to be unaffected as foreign buyers exhibit a strong

preference for new construction over the resale market.

The Condo Market: CBD (Downtown) (YTD)1,2

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

NWF ‡ 3% g 3%$4841,343$650,198

WF ‡ 3% $4331,135$491,033 h 22%

The Condo Market: Edgewater (YTD)1,2

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

NWF ‡ 4% g 2%$3511,097$384,600

WF ‡ 4% $6671,460$973,620 h 13%

‡ WF: Waterfront / NWF: Non-Waterfront

Downtown Miami

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

MidtownWith 5% annual appreciation ($443,935 versus $420,917 during the first half of 2014),

pricing in Midtown Miami has remained solid. Although pricing per square foot appears

to have decreased, this reflects the sale of a number of commercial condominium units in

2014 as opposed to none today; street retail generally trades at a per-square-foot premium

to residential, especially in heavily-trafficked Midtown. The area has seen great demand

due to its neighbor Wynwood, Miami’s trendy art district lacking a large residential market.

NWF‡

% Sample Traded †

2%

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

$3931,131$443,935 h 20%

The Condo Market (YTD)1,2

Wynwood: Midtown’s Vibrant Neighbor

More on Wynwood at onesothebysrealty.com/miami.

Midtown

©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.