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 / T H E I S L A N D S

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.

Key BiscayneNon-waterfront homes in Key Biscayne performed well in the first half of 2015, with double-

digit price increases at both the overall and luxury price points. Although there was a

decline among waterfront, single-family homes, the small number of sales means that that

decline was likely a product of the sample size rather than a true trend; the $60 million

listing of Mashta Point reflects continued interest in top-tier homes. Condominium pricing

also performed well as the Oceana condominiums opened on a 10.5-acre oceanfront site.

The Condo Market (YTD)1,2

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

WF‡ 3% g 11%$9392,347$2,203,554

Avg. Home Price

$3,278,862Key Biscayne

Non-Waterfront

g 17%

Avg. Home Price

$7,327,000Key Biscayne

Waterfront

h 22%

The Single-Family Home Market (YTD)1

Key Biscayne

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

$1,200$600$0

$890 g 16%

$1,200$600$0

$1,149 h 20%

Waterfront: Avg. $/S.F.

Spotlight: Luxury Single-Family Home Transactions*

Islands / SouthThere was no overarching trend in the small, celebrity-laden islands at the southern tip of

Interstate 395. Only four condominiums sold in Fisher Island, the exclusive private island

only accessible by ferry. Single-family home performance was excellent, with double-digit

price increases in four submarkets. Star Island has had no transactions so far this year.

The Condo Market: Fisher Island (YTD)1,2

WF ‡

% Sample Traded †

2%

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

$1,5773,452$5,443,750 h 15%

The Single-Family Home Market (YTD)1,2

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

$1,500$750$0

$657$671

g 18%g 76%

$1,500$750$0

$1,259$1,393

g 11%

Waterfront: Avg. $/S.F.

Avg. Home Price

$2,466,667

$2,080,000

No Trans.

Venetian Islands

Palm/Hibiscus

Star Island

Non-Waterfront

g 26%

g 55%

Avg. Home Price

$7,160,000

$7,687,500

No Trans.

Venetian Islands

Palm/Hibiscus

Star Island

Waterfront

g 40%

h 10%

g 21%

Palm/Hibiscus IslandsVenetian Islands

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

Spotlight: Luxury Single-Family Home Transactions*

‡ WF: Waterfront

N/A N/Ano transactions no transactions

Star Island

Indian Creek

Islands / NorthThe northern islands of Sunset, La Gorce, Normandy, Bay Harbor, and Indian Creek all saw

top-end price increases, although in two of them (La Gorce Island and Indian Creek) there

was only one sale. 2015 marks the second consecutive year of double-digit price increases

for several of these submarkets, with Bay Harbor Islands and Normandy Isles seeing 10%+

appreciation in 2014 and 2015 for both waterfront and non-waterfront homes.

WF‡

% Sample Traded †

8%

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

$2501,258$315,125 g 42%

The Condo Market: Bay Harbor Islands (YTD)1,2

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

The Single-Family Home Market (YTD)1,2

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

$2,000$1,000$0

$875

$544N/A

g 51%

g 55%

$2,000$1,000$0

$1,362

$1,126$1,970

h 4%

g 58%

Waterfront: Avg. $/S.F.

Avg. Home Price

$3,855,583

No Trans.

$1,831,333

$619,208

Sunset Islands

La Gorce Island

Bay Harbor Islands

Normandy Isles

Non-Waterfront

g 35%

g 60%

g 6%

Avg. Home Price

$7,820,000

$19,700,000

$6,550,000

$2,368,750

$30,000,000

Sunset Islands

La Gorce Island

Bay Harbor Islands

Normandy Isles

Indian Creek

Waterfront

h 34%

g 506%

g 46%

g 52%

g 108%

h 32%

$265 g 14%

Sunset Islands

La Gorce Island

Bay Harbor Isl.

Normandy Isles

$751 g 32%$1,830 g 158%

no transactions

Spotlight: Luxury Single-Family Home Transactions*

Indian Creek: no non-waterfront market

Indian Creek: no non-waterfront 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/neighborhoods.