The Elliman Report: 2Q-2012 Miami Sales prepared by Miller ... · 2T 11 3T 11 4T 11 1T 12 2T 12 0...
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MIAMI • Distressed sales fell sharply, skewing price indicators higher The market share of lower priced distressed sales dropped to 40.6% of all sales after a recent peak of 64.7% in the first quarter of 2011. As a result, all price indicators were skewed, showing double-digit year-over-year gains. • Listing inventory fell sharply as overall sales activity remained stable There were 11,689 listings at the end of the second quarter, 28.2% less than the prior year quarter. The number of sales were essentially unchanged with 5,558 sales over the same period. The rise in non-distressed sales offset the fall in distressed sales. • Days on market had second fastest rate in more than six years The number of days on market was 68 days, unchanged from the same quarter last year and the second fastest rate since the first quarter of 2006 when this metric was first captured. per square foot both showed the same pattern, with respective gains of 17.7% and 14.2% over the same period. The 28.5% year-over-year gain in median condo prices largely outpaced the 4.4% gain in median single-family home prices. This was largely due to the drop in lower priced distressed sales activity over the past year, related to the “robo-signing” scandal at the end of 2010. In addition to the court-related foreclosure backlog, servicers slowed the volume of property entering the market during most of 2011 and early 2012. Condo sales saw more of a decline related to this matter; distressed condo sales fell 31.9% over the past year, while distressed single family sales fell only 11.7% over the same period. The housing market in Miami’s coastal com- munities continued to show increases in non- distressed sales, falling inventory, and demand from foreign buyers from Europe and South America. The median sales price jumped 20.9% to $196,500 from $162,500 in the prior year quarter. The $399,440 average sales price and $257 price Overall sales were essentially unchanged with 5,558 sales in the second quarter, compared to 5,577 in the prior year quarter. However, listing inventory fell sharply during the same period. There were 11,689 condo and single family listings, 28.2% less than 16,281 in the prior year quarter. As a result, the monthly absorption rate, the number of months to sell all active listing inventory at the current pace of sales, fell to 6.3 months from 8.8 months in the same period last year. Although days on market held firm at 68 days, listing discount, the percentage spread between the list price at time of contract and contract price, fell to 7.4% from 9.4% in the same period last year. Quarterly Average Sales Price MIAMI Number of Sales 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 12 11 10 09 08 07 06 Quarterly Survey of Miami Coastal Community Sales MIAMI, FLORIDA 2Q-2012 Miami Market Matrix 2Q-2012 % Chg (QRT) 1Q-2012 % Chg (YR) 2Q-2011 Average Sales Price $399,440 23.6% $323,181 17.7% $339,261 Average Price per Sq Ft $257 16.8% $220 14.2% $225 Median Sales Price $196,500 11.6% $176,000 20.9% $162,500 Number of Sales (Closed) 5,558 20.6% 4,610 -0.3% 5,577 Days on Market (From Last List Date) 68 -5.6% 72 0.0% 68 Listing Discount (From Last List Price) 7.4% 8.1% 9.4% Listing Inventory (active) 11,689 -6.9% 12,553 -28.2% 16,281 Absorption Rate (mos) 6.3 -23.2% 8.2 -28.4% 8.8 The Douglas Elliman Report series is recognized as the industry standard for providing the state of the residential real estate market. The report includes an extensive suite of tools to help readers objectively identify and measure market trends, provide historical context to current information and provide comprehensive analysis of the results. PREPARED BY MILLER SAMUEL INC. Appraisal and Consulting Services
Transcript of The Elliman Report: 2Q-2012 Miami Sales prepared by Miller ... · 2T 11 3T 11 4T 11 1T 12 2T 12 0...
MiaMi• Distressed sales fell sharply, skewing
price indicators higher The market
share of lower priced distressed sales
dropped to 40.6% of all sales after a
recent peak of 64.7% in the first quarter
of 2011. As a result, all price indicators
were skewed, showing double-digit
year-over-year gains.
• Listing inventory fell sharply as overall sales activity remained stable There were 11,689 listings at the end
of the second quarter, 28.2% less than
the prior year quarter. The number of
sales were essentially unchanged with
5,558 sales over the same period. The
rise in non-distressed sales offset the
fall in distressed sales.
• Days on market had second fastest rate in more than six years The
number of days on market was 68 days,
unchanged from the same quarter last
year and the second fastest rate since
the first quarter of 2006 when this
metric was first captured.
per square foot both showed the same pattern, with respective gains of 17.7% and 14.2% over the same period. The 28.5% year-over-year gain in median condo prices largely outpaced the 4.4% gain in median single-family home prices. This was largely due to the drop in lower priced distressed sales activity over the past year, related to the “robo-signing” scandal at the end of 2010. In addition to the court-related foreclosure backlog, servicers slowed the volume of property entering the market during most of 2011 and early 2012. Condo sales saw more of a decline related to this matter; distressed condo sales fell 31.9% over the past year, while distressed single family sales fell only 11.7% over the same period.
The housing market in Miami’s coastal com-munities continued to show increases in non-distressed sales, falling inventory, and demand from foreign buyers from Europe and South America.
The median sales price jumped 20.9% to $196,500 from $162,500 in the prior year quarter. The $399,440 average sales price and $257 price
Overall sales were essentially unchanged with 5,558 sales in the second quarter, compared to 5,577 in the prior year quarter. However, listing inventory fell sharply during the same period. There were 11,689 condo and single family listings, 28.2% less than 16,281 in the prior year quarter. As a result, the monthly absorption rate, the number of months to sell all active listing inventory at the current pace of sales, fell to 6.3 months from 8.8 months in the same period last year. Although days on market held firm at 68 days, listing discount, the percentage spread between the list price at time of contract and contract price, fell to 7.4% from 9.4% in the same period last year.
Quarterly Average Sales Price MIAMI
CONDOS
Number of Sales
Median Sales Price No. of Sales
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$100,000
$120,000
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$180,000
$200,000
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SINGLE FAMILYMedian Sales Price No. of Sales
0
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$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
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Median Sales Price No. of Sales
0
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$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
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Median Sales Price No. of Sales
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$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
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$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
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Median Sales Price No. of Sales
0
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1,200
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$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
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$500,000
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$700,000
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0
1.000
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5.000
US$80.000
US$104.000
US$128.000
US$152.000
US$176.000
US$200.000
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0
500
1.000
1.500
2.000
2.500
US$150.000
US$170.000
US$190.000
US$210.000
US$230.000
US$250.000
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0
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US$270.000
US$290.000
US$310.000
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1.200
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US$250.000
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US$350.000
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0
500
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US$70.000
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US$100.000
US$110.000
US$120.000
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US$155.000
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1.000
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US$600.000
US$700.000
12111009080706
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CONDOMÍNIOS
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Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
CASAS
CONDOMÍNIOS - VENDAS ESTÁVEIS CASAS - VENDAS ESTÁVEIS
CASAS - COM DIFICULDADES
FINANCEIRAS
CONDOMÍNIOS - COM
DIFICULDADES FINANCEIRAS
PortuguesEnglish
Precio de Ventas Promedio Trimestral MIAMI Cantidad de Ventas
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$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
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$190,000
$210,000
$230,000
$250,000
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$230,000
$250,000
$270,000
$290,000
$310,000
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$290,000
$310,000
$330,000
$350,000
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APARTAMENTOSSIN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIARSIN PELIGRO DE JUICIO HIPOTECARIO
0
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1,000
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$110,000
$120,000
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$700,000
12111009080706
Spanish
APARTAMENTOSMediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
VIVIENDA UNIFAMILIAR
APARTAMENTOSEN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIAREN PELIGRO DE JUICIO HIPOTECARIO
NON-DISTRESSED SINGLE FAMILYNON-DISTRESSED CONDOS
DISTRESSED SINGLE FAMILYDISTRESSED CONDOS
Quarterly Survey of Miami Coastal Community SalesMiaMi, Florida 2Q-2012
Miami Market Matrix 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011
Average Sales Price $399,440 23.6% $323,181 17.7% $339,261
Average Price per Sq Ft $257 16.8% $220 14.2% $225
Median Sales Price $196,500 11.6% $176,000 20.9% $162,500
Number of Sales (Closed) 5,558 20.6% 4,610 -0.3% 5,577
Days on Market (From Last List Date) 68 -5.6% 72 0.0% 68
Listing Discount (From Last List Price) 7.4% 8.1% 9.4%
Listing Inventory (active) 11,689 -6.9% 12,553 -28.2% 16,281
Absorption Rate (mos) 6.3 -23.2% 8.2 -28.4% 8.8
The Douglas Elliman Report series is recognized as the industry standard for providing the state of the residential real estate market. The report includes an extensive suite of tools to help readers objectively identify and measure market trends, provide historical context to current information and provide comprehensive analysis of the results.
PrePared by Miller SaMuel inc. Appraisal and Consulting Services
Single FaMily
CondoS
Quarterly Average Sales Price MIAMI
CONDOS
Number of Sales
Median Sales Price No. of Sales
0
1,000
2,000
3,000
4,000
5,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
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SINGLE FAMILYMedian Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
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Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
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Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
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Median Sales Price No. of Sales
0
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2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
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$135,000
$140,000
$145,000
$150,000
$155,000
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1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
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$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
MIAMI
0
1.000
2.000
3.000
4.000
5.000
US$80.000
US$104.000
US$128.000
US$152.000
US$176.000
US$200.000
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0
500
1.000
1.500
2.000
2.500
US$150.000
US$170.000
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US$210.000
US$230.000
US$250.000
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0
500
1.000
1.500
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US$210.000
US$230.000
US$250.000
US$270.000
US$290.000
US$310.000
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US$250.000
US$270.000
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US$310.000
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0
500
1.000
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US$155.000
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1.000
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US$400.000
US$500.000
US$600.000
US$700.000
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Preço médio de vendas trimestrais Número de vendas
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CONDOMÍNIOS - VENDAS ESTÁVEIS CASAS - VENDAS ESTÁVEIS
CASAS - COM DIFICULDADES
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PortuguesEnglish
Precio de Ventas Promedio Trimestral MIAMI Cantidad de Ventas
0
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APARTAMENTOSSIN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIARSIN PELIGRO DE JUICIO HIPOTECARIO
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12111009080706
Spanish
APARTAMENTOSMediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
VIVIENDA UNIFAMILIAR
APARTAMENTOSEN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIAREN PELIGRO DE JUICIO HIPOTECARIO
NON-DISTRESSED SINGLE FAMILYNON-DISTRESSED CONDOS
DISTRESSED SINGLE FAMILYDISTRESSED CONDOS
Quarterly Average Sales Price MIAMI
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$210,000
$230,000
$250,000
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$310,000
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$250,000
$270,000
$290,000
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$330,000
$350,000
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0
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$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
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$135,000
$140,000
$145,000
$150,000
$155,000
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$700,000
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MIAMI
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US$200.000
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US$0
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12111009080706
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PortuguesEnglish
Precio de Ventas Promedio Trimestral MIAMI Cantidad de Ventas
0
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VIVIENDA UNIFAMILIARSIN PELIGRO DE JUICIO HIPOTECARIO
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500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2T 121T 124T 113T 112T 11 0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2T 121T 124T 113T 112T 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
Spanish
APARTAMENTOSMediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
VIVIENDA UNIFAMILIAR
APARTAMENTOSEN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIAREN PELIGRO DE JUICIO HIPOTECARIO
NON-DISTRESSED SINGLE FAMILYNON-DISTRESSED CONDOS
DISTRESSED SINGLE FAMILYDISTRESSED CONDOS
• Price indicators rose as inventory fell All price indicators posted year-over-year gains. Median sales price jumped 28.5% to $185,000 from $144,000 in the prior year quarter. Listing inventory continued to decline, falling 29.2% to 7,063 from 9,981 over the same period.
• The number of sales slipped, but market share of cash sales expanded There were 3,547 sales in the second quarter, 2% fewer than the 3,618 sales in the prior year quarter. Cash purchases increased 1.7% to 76.3% of all condo sales from 75% in the same period last year.
• Condo price indicators continued to rise as marketing time fell Days on market fell to 48 days, 5 days faster than in the prior year quarter. Median sales price increased 15.9% to $1,217,000 over the same period. The condo luxury market threshold was $750,000.
• Single family sales edged higher as listing discount declined There were 201 sales, 2.6% more than in the prior year quarter. Listing discount compressed to 12.9% from 14.8% over the same period. The single family luxury market threshold was $895,000.
• Price indicators rose as listing inventory fell sharply Active listing inventory fell 26.6% to 4,626 from 6,300 in the prior year quarter. All price indicators posted year-over-year gains. After three consecutive quarters at $200,000, the median sales price was up 4.4% to $213,000 from prior year levels.
• The number of sales edged higher, but fewer made with cash and FHA financing There were 2,011 sales in the second quarter, 2.7% more than 1,959 in the prior year quarter. Cash purchases fell 3.8% and FHA purchases fell 9.9% over the same period.
luxury
Note: This sub-category is the analysis of the top ten percent of all sales. The data is also contained within the other markets presented.
elliManflorida.coM
Condo Market Matrix 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $356,779 19.4% $298,751 19.9% $297,600Average Price Per Sq Ft $288 16.6% $247 16.1% $248Median Sales Price $185,000 14.6% $161,500 28.5% $144,000Number of Sales 3,547 18.4% 2,997 -2.0% 3,618Days on Market (From Last List Date) 67 -6.9% 72 -1.5% 68Listing Discount (From Last List Price) 6.1% 7.3% 8.7%Listing Inventory (active) 7,063 -7.4% 7,627 -29.2% 9,981Absorption Rate (mos) 6.0 -21.1% 7.6 -27.7% 8.3
Single Family Market Matrix 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $474,686 28.8% $368,573 14.1% $416,203Average Price Per Sq Ft $203 20.1% $169 10.9% $183Median Sales Price $213,000 6.5% $200,000 4.4% $204,000Number of Sales 2,011 24.7% 1,613 2.7% 1,959Days on Market (From Last List Date) 70 -2.8% 72 1.4% 69Listing Discount (From Last List Price) 9.7% 9.5% 10.7%Listing Inventory (active) 4,626 -6.1% 4,926 -26.6% 6,300Absorption Rate (mos) 6.9 -25.0% 9.2 -28.1% 9.6
Luxury Market Matrix - Condos 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $1,623,918 22.5% $1,325,779 10.7% $1,466,605Average Price Per Square Foot $687 19.7% $574 13.4% $606Median Sales Price $1,217,000 23.6% $985,000 15.9% $1,050,000Number of Sales 355 18.3% 300 -1.7% 361Days on Market (From Last List Date) 48 -4.0% 50 -9.4% 53Listing Discount (From Last List Price) 7.2% 9.1% 11.2%
Luxury Market Matrix - Single Family 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $2,527,962 44.0% $1,754,972 20.9% $2,091,313Average Price Per Square Foot $497 23.0% $404 13.7% $437Median Sales Price $1,600,000 48.8% $1,075,000 18.1% $1,355,000Number of Sales 201 24.8% 161 2.6% 196Days on Market (From Last List Date) 57 9.6% 52 -1.7% 58Listing Discount (From Last List Price) 12.9% 12.9% 14.8%
Quintiles Med. Sales Price % Chg (yr)Studio $109,000 28.2%
1-bedroom $150,000 36.4%
2-bedroom $222,500 37.3%
3-bedroom $285,000 55.7%
4-bedroom $617,500 42.0%
5-bedroom $1,534,500 -36.1%
Quintiles Med. Sales Price % Chg (yr)1-bedroom $84,500 169.5%
2-bedroom $115,000 44.7%
3-bedroom $175,000 9.4%
4-bedroom $255,000 2.0%
5-bedroom $772,000 8.0%
Visit our website to browse listings and learn more about market trends
The Elliman Report • Quarterly Survey of Miami Coastal Community Sales2Q-2012
Downtown Market Matrix (Condos) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $207,520 18.9% $174,511 25.7% $165,150Average Price per Sq Ft $176 15.8% $152 19.7% $147Median Sales Price $120,000 10.6% $108,500 29.4% $92,700Number of Sales (Closed) 1,748 11.5% 1,568 -5.0% 1,840Downtown Market Matrix (Single Family) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $306,665 49.9% $204,514 40.5% $218,200Average Price per Sq Ft $147 40.0% $105 34.9% $109Median Sales Price $182,900 7.6% $170,000 12.2% $163,000Number of Sales (Closed) 1,631 26.4% 1,290 7.2% 1,522
South BeaCh
MiaMi BeaCh
downtown
South
• Price indicators rose The median sales price jumped 29.4% to $120,000 from $92,700 in the prior year quarter.
• Single family sales edged higher in their largest market There were 1,631 sales, 7.2% more than in the prior year quarter, accounting for 81.1% of all single family sales in this report.
north
Note: This region includes Aventura, Bal Harbour, Bay Harbor Islands, Golden Beach, Indian Creek, North Bay Village, Sunny Isles and Surfside. The data is also contained within the other markets presented.
Note: This region includes area within the 33139 zip code and the 33140 zip code with northern boundary of 30th Street. The data is also contained within the other markets presented.
Note: This region includes area defined by Miami MLS as “Miami”. The data is also contained within the other markets presented.
Note: This region includes Miami Beach, Fisher Island and Key Biscayne. The data is also contained within the other markets presented.
Note: This region includes Coconut Grove, Coral Gables, Palmetto Bay, Pinecrest and South Miami. The data is also contained within the other markets presented.
• Condo sales edged higher There were 826 sales, 1% more than 818 sales in the prior year quarter.
• All single family price indicators increased from prior year levels Median sales price was $482,000, 13.4% above $425,000 in the prior year quarter.
• Condo price indicators up sharply Median sales price was $300,000, 20.5% above $249,000 in the prior year quarter as distressed market share fell sharply.
• Single family price indicators increased Median sales price of $2,190,000 rose sharply as distressed sales activity fell.
• Condo sales were unchanged There were 430 condo sales in the second quarter, unchanged from the same period last year.
• Single family price indicators were mixed Median sales price was 25.6% below the prior year result as price per square foot increased 16.1% over the same period.
• Condo sales edged higher While price indicators were mixed, the number of sales increased 0.7% from the prior year quarter to 135.
• Single family price indicators jumped as sales slipped All price indicators posted double-digit gains as distressed market share continued to drop.
elliManflorida.coM
North Market Matrix (Condos) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $417,383 12.8% $370,104 16.6% $357,886Average Price per Sq Ft $289 11.2% $260 14.2% $253Median Sales Price $247,250 9.9% $225,000 19.7% $206,550Number of Sales (Closed) 826 30.1% 635 1.0% 818North Market Matrix (Single Family) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $938,586 -7.8% $1,018,344 8.9% $862,246Average Price per Sq Ft $333 -3.8% $346 5.0% $317Median Sales Price $482,000 -39.8% $800,000 13.4% $425,000Number of Sales (Closed) 42 0.0% 42 2.4% 41
Miami Beach Market Matrix (Condos) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $525,996 2.0% $515,534 19.1% $441,807Average Price per Sq Ft $415 1.7% $408 12.5% $369Median Sales Price $300,000 3.4% $290,000 20.5% $249,000Number of Sales (Closed) 408 28.3% 318 3.0% 396Miami Beach Market Matrix (Single Family) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $2,869,050 127.1% $1,263,471 80.7% $1,587,620Average Price per Sq Ft $776 88.8% $411 45.6% $533Median Sales Price $2,190,000 152.6% $867,000 136.8% $925,000Number of Sales (Closed) 20 -60.8% 51 -69.2% 65
South Beach Market Matrix (Condos) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $703,400 38.6% $507,662 15.9% $606,761Average Price per Sq Ft $662 25.1% $529 18.4% $559Median Sales Price $300,000 20.0% $250,000 20.0% $250,000Number of Sales (Closed) 430 25.0% 344 0.0% 430South Beach Market Matrix (Single Family) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $3,514,700 114.6% $1,637,863 -19.9% $4,386,334Average Price per Sq Ft $930 89.4% $491 16.1% $801Median Sales Price $2,250,000 119.5% $1,025,000 -25.6% $3,025,000Number of Sales (Closed) 15 15.4% 13 -21.1% 19
South Market Matrix (Condos) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $303,127 -16.9% $364,630 -8.2% $330,064Average Price per Sq Ft $233 -10.0% $259 -2.9% $240Median Sales Price $257,500 7.7% $239,000 28.8% $200,000Number of Sales (Closed) 135 2.3% 132 0.7% 134South Market Matrix (Single Family) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $1,006,277 8.0% $931,727 20.1% $837,671Average Price per Sq Ft $293 -3.0% $302 13.6% $258Median Sales Price $650,000 19.3% $545,000 17.6% $552,500Number of Sales (Closed) 303 39.6% 217 -2.9% 312
Visit our website to browse listings and learn more about market trends
The Elliman Report • Quarterly Survey of Miami Coastal Community Sales 2Q-2012
©2012 Douglas Elliman Florida LLC and Miller Samuel Inc. All worldwide rights reserved.
Douglas Elliman Florida LLC. ©2012 Equal Housing Opportunity. All material presented herein is intended for information purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property outlines and square footage in property listings are approximate.
Quarterly Average Sales Price MIAMI
CONDOS
Number of Sales
Median Sales Price No. of Sales
0
1,000
2,000
3,000
4,000
5,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
2Q 121Q 124Q 113Q 112Q 11
SINGLE FAMILYMedian Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2Q 121Q 124Q 113Q 112Q 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
MIAMI
0
1.000
2.000
3.000
4.000
5.000
US$80.000
US$104.000
US$128.000
US$152.000
US$176.000
US$200.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$150.000
US$170.000
US$190.000
US$210.000
US$230.000
US$250.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$210.000
US$230.000
US$250.000
US$270.000
US$290.000
US$310.000
2T 121T 124T 113T 112T 110
300
600
900
1.200
1.500
US$250.000
US$270.000
US$290.000
US$310.000
US$330.000
US$350.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$70.000
US$80.000
US$90.000
US$100.000
US$110.000
US$120.000
2T 121T 124T 113T 112T 11 0
300
600
900
1.200
1.500
US$130.000
US$135.000
US$140.000
US$145.000
US$150.000
US$155.000
2T 121T 124T 113T 112T 11
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
US$0
US$100.000
US$200.000
US$300.000
US$400.000
US$500.000
US$600.000
US$700.000
12111009080706
Preço médio de vendas trimestrais Número de vendas
CONDOMÍNIOS
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
CASAS
CONDOMÍNIOS - VENDAS ESTÁVEIS CASAS - VENDAS ESTÁVEIS
CASAS - COM DIFICULDADES
FINANCEIRAS
CONDOMÍNIOS - COM
DIFICULDADES FINANCEIRAS
PortuguesEnglish
Precio de Ventas Promedio Trimestral MIAMI Cantidad de Ventas
0
1,000
2,000
3,000
4,000
5,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
2T 121T 124T 113T 112T 11
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
2T 121T 124T 113T 112T 11
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
2T 121T 124T 113T 112T 11 200
460
720
980
1,240
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2T 121T 124T 113T 112T 11
APARTAMENTOSSIN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIARSIN PELIGRO DE JUICIO HIPOTECARIO
0
500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2T 121T 124T 113T 112T 11 0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2T 121T 124T 113T 112T 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
Spanish
APARTAMENTOSMediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
VIVIENDA UNIFAMILIAR
APARTAMENTOSEN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIAREN PELIGRO DE JUICIO HIPOTECARIO
NON-DISTRESSED SINGLE FAMILYNON-DISTRESSED CONDOS
DISTRESSED SINGLE FAMILYDISTRESSED CONDOS
Quarterly Average Sales Price MIAMI
CONDOS
Number of Sales
Median Sales Price No. of Sales
0
1,000
2,000
3,000
4,000
5,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
2Q 121Q 124Q 113Q 112Q 11
SINGLE FAMILYMedian Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2Q 121Q 124Q 113Q 112Q 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
MIAMI
0
1.000
2.000
3.000
4.000
5.000
US$80.000
US$104.000
US$128.000
US$152.000
US$176.000
US$200.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$150.000
US$170.000
US$190.000
US$210.000
US$230.000
US$250.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$210.000
US$230.000
US$250.000
US$270.000
US$290.000
US$310.000
2T 121T 124T 113T 112T 110
300
600
900
1.200
1.500
US$250.000
US$270.000
US$290.000
US$310.000
US$330.000
US$350.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$70.000
US$80.000
US$90.000
US$100.000
US$110.000
US$120.000
2T 121T 124T 113T 112T 11 0
300
600
900
1.200
1.500
US$130.000
US$135.000
US$140.000
US$145.000
US$150.000
US$155.000
2T 121T 124T 113T 112T 11
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
US$0
US$100.000
US$200.000
US$300.000
US$400.000
US$500.000
US$600.000
US$700.000
12111009080706
Preço médio de vendas trimestrais Número de vendas
CONDOMÍNIOS
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
CASAS
CONDOMÍNIOS - VENDAS ESTÁVEIS CASAS - VENDAS ESTÁVEIS
CASAS - COM DIFICULDADES
FINANCEIRAS
CONDOMÍNIOS - COM
DIFICULDADES FINANCEIRAS
PortuguesEnglish
Precio de Ventas Promedio Trimestral MIAMI Cantidad de Ventas
0
1,000
2,000
3,000
4,000
5,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
2T 121T 124T 113T 112T 11
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
2T 121T 124T 113T 112T 11
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
2T 121T 124T 113T 112T 11 200
460
720
980
1,240
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2T 121T 124T 113T 112T 11
APARTAMENTOSSIN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIARSIN PELIGRO DE JUICIO HIPOTECARIO
0
500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2T 121T 124T 113T 112T 11 0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2T 121T 124T 113T 112T 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
Spanish
APARTAMENTOSMediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
VIVIENDA UNIFAMILIAR
APARTAMENTOSEN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIAREN PELIGRO DE JUICIO HIPOTECARIO
NON-DISTRESSED SINGLE FAMILYNON-DISTRESSED CONDOS
DISTRESSED SINGLE FAMILYDISTRESSED CONDOS
Quarterly Average Sales Price MIAMI
CONDOS
Number of Sales
Median Sales Price No. of Sales
0
1,000
2,000
3,000
4,000
5,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
2Q 121Q 124Q 113Q 112Q 11
SINGLE FAMILYMedian Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2Q 121Q 124Q 113Q 112Q 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
MIAMI
0
1.000
2.000
3.000
4.000
5.000
US$80.000
US$104.000
US$128.000
US$152.000
US$176.000
US$200.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$150.000
US$170.000
US$190.000
US$210.000
US$230.000
US$250.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$210.000
US$230.000
US$250.000
US$270.000
US$290.000
US$310.000
2T 121T 124T 113T 112T 110
300
600
900
1.200
1.500
US$250.000
US$270.000
US$290.000
US$310.000
US$330.000
US$350.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$70.000
US$80.000
US$90.000
US$100.000
US$110.000
US$120.000
2T 121T 124T 113T 112T 11 0
300
600
900
1.200
1.500
US$130.000
US$135.000
US$140.000
US$145.000
US$150.000
US$155.000
2T 121T 124T 113T 112T 11
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
US$0
US$100.000
US$200.000
US$300.000
US$400.000
US$500.000
US$600.000
US$700.000
12111009080706
Preço médio de vendas trimestrais Número de vendas
CONDOMÍNIOS
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
CASAS
CONDOMÍNIOS - VENDAS ESTÁVEIS CASAS - VENDAS ESTÁVEIS
CASAS - COM DIFICULDADES
FINANCEIRAS
CONDOMÍNIOS - COM
DIFICULDADES FINANCEIRAS
PortuguesEnglish
Precio de Ventas Promedio Trimestral MIAMI Cantidad de Ventas
0
1,000
2,000
3,000
4,000
5,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
2T 121T 124T 113T 112T 11
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
2T 121T 124T 113T 112T 11
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
2T 121T 124T 113T 112T 11 200
460
720
980
1,240
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2T 121T 124T 113T 112T 11
APARTAMENTOSSIN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIARSIN PELIGRO DE JUICIO HIPOTECARIO
0
500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2T 121T 124T 113T 112T 11 0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2T 121T 124T 113T 112T 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
Spanish
APARTAMENTOSMediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
VIVIENDA UNIFAMILIAR
APARTAMENTOSEN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIAREN PELIGRO DE JUICIO HIPOTECARIO
NON-DISTRESSED SINGLE FAMILYNON-DISTRESSED CONDOS
DISTRESSED SINGLE FAMILYDISTRESSED CONDOS
Quarterly Average Sales Price MIAMI
CONDOS
Number of Sales
Median Sales Price No. of Sales
0
1,000
2,000
3,000
4,000
5,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
2Q 121Q 124Q 113Q 112Q 11
SINGLE FAMILYMedian Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2Q 121Q 124Q 113Q 112Q 11
Median Sales Price No. of Sales
0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2Q 121Q 124Q 113Q 112Q 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
MIAMI
0
1.000
2.000
3.000
4.000
5.000
US$80.000
US$104.000
US$128.000
US$152.000
US$176.000
US$200.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$150.000
US$170.000
US$190.000
US$210.000
US$230.000
US$250.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$210.000
US$230.000
US$250.000
US$270.000
US$290.000
US$310.000
2T 121T 124T 113T 112T 110
300
600
900
1.200
1.500
US$250.000
US$270.000
US$290.000
US$310.000
US$330.000
US$350.000
2T 121T 124T 113T 112T 11
0
500
1.000
1.500
2.000
2.500
US$70.000
US$80.000
US$90.000
US$100.000
US$110.000
US$120.000
2T 121T 124T 113T 112T 11 0
300
600
900
1.200
1.500
US$130.000
US$135.000
US$140.000
US$145.000
US$150.000
US$155.000
2T 121T 124T 113T 112T 11
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
US$0
US$100.000
US$200.000
US$300.000
US$400.000
US$500.000
US$600.000
US$700.000
12111009080706
Preço médio de vendas trimestrais Número de vendas
CONDOMÍNIOS
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
Preço mediano de vendas Número de vendas
CASAS
CONDOMÍNIOS - VENDAS ESTÁVEIS CASAS - VENDAS ESTÁVEIS
CASAS - COM DIFICULDADES
FINANCEIRAS
CONDOMÍNIOS - COM
DIFICULDADES FINANCEIRAS
PortuguesEnglish
Precio de Ventas Promedio Trimestral MIAMI Cantidad de Ventas
0
1,000
2,000
3,000
4,000
5,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
2T 121T 124T 113T 112T 11
0
500
1,000
1,500
2,000
2,500
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
2T 121T 124T 113T 112T 11
0
500
1,000
1,500
2,000
2,500
$210,000
$230,000
$250,000
$270,000
$290,000
$310,000
2T 121T 124T 113T 112T 11 200
460
720
980
1,240
1,500
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
2T 121T 124T 113T 112T 11
APARTAMENTOSSIN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIARSIN PELIGRO DE JUICIO HIPOTECARIO
0
500
1,000
1,500
2,000
2,500
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
2T 121T 124T 113T 112T 11 0
300
600
900
1,200
1,500
$130,000
$135,000
$140,000
$145,000
$150,000
$155,000
2T 121T 124T 113T 112T 11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
12111009080706
Spanish
APARTAMENTOSMediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
Mediana del Precio de Venta Cantidad de Ventas Mediana del Precio de Venta Cantidad de Ventas
VIVIENDA UNIFAMILIAR
APARTAMENTOSEN PELIGRO DE JUICIO HIPOTECARIO
VIVIENDA UNIFAMILIAREN PELIGRO DE JUICIO HIPOTECARIO
NON-DISTRESSED SINGLE FAMILYNON-DISTRESSED CONDOS
DISTRESSED SINGLE FAMILYDISTRESSED CONDOS
MiAMi-DADe Aventura, Bal Harbour, Bay Harbor Islands, Coconut Grove, Coral Gables, Downtown, Fisher Island, Golden Beach, Indian Creek, Key Biscayne, Miami Beach, North Bay Village, Palmetto Bay, Pinecrest, South Beach, South Miami, Sunny Isles and Surfside.
The CoasTal CommuniTies of miami, florida
• Price indicators were mixed across property types The median sales price of a condo increased 3.8% to $275,000 from the prior year quarter, while the single family median sales price slipped 0.9% to $324,500 over the same period.
• The number of sales jumped from prior year levels Single family sales were up 18.6% to 1,104 from the same period last year. Condos saw a larger gain, rising 33.6% to 2,201 units over the same period. Falling mortgage rates and strong demand from foreign buyers has continued to drive this market segment. As a result of the increase in sales, the non-distressed market accounted for 59.5% of all sales, its largest market share in two years.
• Number of sales continued to fall sharply There were 2,254 condo and single family sales in the second quarter, 25% less than 3,005 in the prior year quarter. Market share fell to 40.6% of all sales from its most recent peak of 64.7% in the first quarter of 2011. This lower share of distressed sales has driven overall price metrics sharply higher.
• Despite drop in sales, price indicators continued to rise The median sales price of a distressed condo increased 8.4% to $100,000 from the prior year quarter. The median sales price of a single family home increased 2.1% to $145,000 over the same period.
non–diStreSSed
diStreSSedNote: This category excludes all foreclosure and short sales. The data is also contained within the other markets presented.
Note: This category is comprised of foreclosure and short sales. The data is also contained within the other markets presented.
For more information or electronic copies of this report please visit ellimanflorida.com. Email report author Jonathan J. Miller at [email protected] with questions or comments. Methodology: http://www.millersamuel.com/research-reports/methodology
The Elliman Report • Quarterly Survey of Miami Coastal Community Sales2Q-2012
Douglas Elliman Florida Real Estate1111 Lincoln Road, Suite 805 Miami Beach, FL 33139305.695.6300 / ellimanflorida.com
Miller Samuel Inc. Real Estate Appraisers & Consultants21 West 38th StreetNew York, NY 10018212.768.8100 / millersamuel.com
Non-Distressed (Condos) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $483,385 10.3% $438,345 -2.7% $496,996Average Price Per Sq Ft $362 10.4% $328 1.7% $356Median Sales Price $275,000 7.4% $256,000 3.8% $265,000Number of Sales 2,201 35.6% 1,623 33.6% 1,647Days on Market (From Last List Date) 47 2.2% 46 -4.1% 49Listing Discount (From Last List Price) 7.4% 8.3% 10.5%Non-Distressed (Single Family) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $718,467 26.1% $569,673 8.8% $660,118Average Price Per Sq Ft $269 17.5% $229 7.6% $250Median Sales Price $324,500 8.2% $300,000 -0.9% $327,500Number of Sales 1,104 43.9% 767 18.6% 931Days on Market (From Last List Date) 54 3.8% 52 1.9% 53Listing Discount (From Last List Price) 10.8% 10.8% 12.5%
Distressed (Condos) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $149,751 11.9% $133,858 14.4% $130,883Average Price Per Sq Ft $139 9.4% $127 10.3% $126Median Sales Price $100,000 5.3% $95,000 8.4% $92,230Number of Sales 1,346 -2.0% 1,374 -31.9% 1,977Days on Market (From Last List Date) 97 -3.0% 100 16.9% 83Listing Discount (From Last List Price) -1.0% 3.2% 2.9%Distressed (Single Family) 2Q-2012 % Chg (qrt) 1Q-2012 % Chg (yr) 2Q-2011Average Sales Price $177,812 -4.5% $186,251 -9.0% $195,304Average Price Per Sq Ft $92 -6.1% $98 -8.9% $101Median Sales Price $145,000 0.0% $145,000 2.1% $142,000Number of Sales 908 7.3% 846 -11.7% 1,028Days on Market (From Last List Date) 88 -2.2% 90 6.0% 83Listing Discount (From Last List Price) 4.3% 6.1% 4.7%
