TRENDS 2012 Mid Year Real Estate Update - MIAMI

TRENDS

2012 MID-YEARUPDATE

July 2012 marked the opening of the Metrorail extension to the Miami International Airport. It may seem long overdue, but it is truly a sign of the type of infrastructure that is being done throughout South Florida to make the area a “super city.”

Even a cursory glance around town yields construction of tunnels, water pipes, road widening, port dredging, etc. Signs of future growth are everywhere. There are now over 30 new construction projects slated to be built. Commercial infrastructure is also on the upswing including the new retail destinations in the Design District and the expansion of Aventura and Dadeland malls.

Already attractive to the tourist trade, South Florida now becomes a must own destination. This year’s Wealth Report ranked Miami sixth worldwide to High Net Worth Individuals as a “Most Important Global City.” With prices up 19.1%, Miami was the third strongest recovering luxury market worldwide, yet we still offer one of the better values, with 52 Luxury Markets worldwide costing more per square foot. Along with Los Angeles and Manhattan, Miami is considered one of the three “Super Prime” real estate markets in the United States with properties valued at $20,000,000 and above.

Not to only look at our area through rose colored glasses, we still have challenges to overcome. The worldwide economy still weighs down some of the speed of the acceleration. The lower priced markets still face some shadow inventory issues. Financing programs are limited and at market appraisals are fewer by the day. All that being said, inventory is down, prices are up and the world not only wants to come here, they want to buy here.

Viva South Florida! I think we win the gold medal for real estate.

2 0 1 2 M I D -Y E A R U P DAT E

Janie CoffeyONE Sotheby’s International Realty305 735 [email protected]

CORAL GABLESSantona Corner

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

BRICKELLHelm Bank Building

999 Brickell Avenue, Suite 900Miami, Florida 33131

MIAMI BEACHSouth of Fifth

119 Washington Avenue, Suite 102Miami Beach, Florida 33139

MIAMI BEACHOcean Drive

1451 Ocean Drive, Suite 104Miami Beach, Florida 33139

KEY BISCAYNEThe Galleria Mall

328 Crandon Boulevard, Suite 222Key Biscayne, Florida 33149

AVENTURANorthern Trust Building

18901 NE 29 Avenue, Suite 101Aventura, Florida 33180

FORT LAUDERDALELas Olas

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

M I D - Y E A R U P D A T E 2 0 1 2

Key ObservationsBolstered by favorable exchange rates and value for the money, the Miami area is emerging as a true Global City. According to the Wealth Report, Miami Ranked sixth in the Most Important Global Cities. South American respondents voted it the second most important city in the world after New York, while North Americans put it at number five.

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

155BY THE NUMBERSThe average absorption of new, unsold condominium units in downtown Miami during the month of June 2012.Source: DDA Market Trends - June 2012

31%

PINNING WITH POSSIBILITYPinterest users worldwide have grown to over 17 Million with over 28% of pinners having an income of above $100,000.Source: Mashable

“South Florida’s metro area has one of the shortest break even times of purchasing over renting of any national market. A homebuyer would only have to stay in their home for about 1.6 years for the purchase to pay off.”

CNN Money, August 2012

9SPEAKING GLOBALLY That’s the rank of South Florida as a global hot spot for quality of life. The area is also one of only seven markets in the world to experience double digit growth this year.Source: Wealth Report

INDIAN CREEKThis year, ONE Sotheby’s International Realty sold the top 2 sales on Indian Creek at $39.4 and $47 million respectively, the most significant sales to date in South Florida history.Source: Southeast Florida Regional MLS

SUPER LUXURY Miami is one of 3 US cities considered “Super Prime Real Estate Markets” (those having residential properties over $20,000,000) - There have been 12 sales thus far in 2012 over $10,000,000 of single family homes, more than the entire year of 2011.Source: Southeast Florida Regional MLS

PENDING RECOVERY Pending sales of waterfront properties over $1 Million in Broward county are up 31% over the same quarter last year.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

M I D - Y E A R U P D A T E 2 0 1 2

At a Glance: 2012 Year to DateThe sale of $1 Million homes in Miami-Dade and Broward counties represented 3.6% of the total single family homes in the first half of 2012, up from 3.2% in 2011 and 2.8% in 2010. Homes over $5 Million were purchased with cash (as opposed to financed) 50% of the time in 2010, 2011 and the first half of 2012. For all sold single family homes, cash sales have made up a slowly increasing percentage of total sales (37% in 2010, 41% in 2011 and 43% in 2012 to date). While interest rates remain low, loans continue to be a challenge with appraisals, underwriting and other restrictions.

NUMBER OF HOMES

0 1250 2500 3750 5000

PRIC

E RA

NG

E

0

$10M+

$5M - $10M

$3M - $5M

$1M - $3M

$500K - $1M

500 1000 1500 2000

Under $1 MillionOver $1 Million

Sold 2012 to DateOn The Market

0 6 I T R E N D S

Source: Southeast Florida Regional MLS.Source: Southeast Florida Regional MLS.

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

Month by MonthMay 2012 beat out March as the highest sale month in both county by the number of transactions. Together, both counties closed 5,219 units, down slightly from the high in March 2011 of 5,680.

SHADOW INVENTORY Short sales and REO properties (Foreclosures) make up less than 2% of the total inventory of $1 Million and over condos and single family homes in Miami-Dade and Broward. The downward trend continues from 2.9% this time last year. Currently, there are 8 REO properties over $1 Million on the market in Broward and Miami-Dade combined (similar to 7 in 2011 and 6 in 2010).

Source: Southeast Florida Regional MLS.

MARKET SHIFTThe number of months of inventory continues to drop, from a high in 2008. Months of inventory is used to measure the months it would take to sell out, at the current absorption rate, homes ac-tively on the market. If months of inven-tory exceeds 9 months, it is a “buyers’ market”, if the inventory is between 6-9 months, it is a “stable market”, below 6 months is a “sellers’ market”. Right now, Broward is seeing an inventory of 3.9 months’ and Miami-Dade an inventory of 5.2. Both counties saw a record low of several years in May 2012 with 3.7 months in Broward and 4.2 months in Miami-Dade.Source: Trendgraphix

T R E N D S I 0 7

Source: Trendgraphix

Average Sales PriceSouth Florida leads the national real estate recovery, with the average sales price up 20% in Miami-Dade and 21% in Broward County compared to this time last year. South Florida is second in the nation for enjoying the most robust recovery, following only Phoenix, AZ.


3.7

Traditional SalesShort SalesBank-Owned Properties

0Jan Feb Mar Apr May Jun

$0Jan Feb Mar Apr May Jun

1500

3000

4500

MONTH

NUM

BER

OF

HO

MES

SO

LD

Miami-Dade County Broward County

$100K

$200K

$300K

MONTH

PRIC

E

Miami-Dade County Broward County

Source: Southeast Florida Regional MLS

M I D - Y E A R U P D A T E 2 0 1 2

CORAL GABLES COCOPLUM SNAPPER CREEK LAKES GABLES ESTATES

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

South of Miami

140 Solano Prado, Coral GablesOffered at $8,895,000

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 saw a flat market between the first halves of 2011 and 2012. While total number sold and average sales price both decreased slightly, median sales price and price per square foot both increased slightly. Neither the increases nor the decreases were significant to say that the market changed in any meaningful way year to year.

OVERVIEW

Coral GablesCoral Gables waterfront homes made an

astounding recovery in the first half of 2012. While slow and steady was the word for

2011, the average sales price and number of homes sold doubled from the first half of 2011 to the first half of 2012 and price per

square foot rose by 33%. Waterfront condos over $1,000,000 experienced the nice

strong recovery that the rest of Coral Gables waterfront single family homes did, with

average sales prices up over 40%. Median sales price and price per square foot were more modest in their increases, while the

number of homes sold increased 80%.

130 Casuarina Concourse, Coral GablesOffered at $7,995,000

1002 Alfonso Avenue, Coral GablesOffered at $2,395,000

2010 352 $684,131 $512,500 11%2011 419 $793,791 $579,500 8%

Change 19% 16% 13%

Non-Waterfront Properties

SingleFamily Homes

# of Transactions

AverageSales Price

MedianSales Price

% of REO Sales

Waterfront Properties

Condos($1M+)

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 21 $1,852,333 $1,244,500 -

Mid-year 2012 49 $3,698,796 $2,150,000 -Change 133% 100% 73%

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 5 $1,209,060 $1,190,000 -

Mid-year 2012 9 $1,708,667 $1,300,000 -Change 80% 41% 9%

1 0 I T R E N D S

CORAL GABLES

CocoplumCocoplum saw a decrease in average and

median sales price from the first half of 2011 to 2012, but this in large part can be understood by the fact that one of the two homes sold in

2011 was in Tahiti Beach, a much higher priced area than Cocoplum as a whole. With the

Tahiti Beach sale taken out of the equation, Cocoplum sales are up, including the number

of homes sold. The Cocoplum non-waterfromt home market was flat in regard to average

sales price, median sales price and price per square foot, similar to the greater Coral Gables

non-waterfront home market, which was also flat. The number of homes sold decreased substantially. While the waterfront markets

increased significantly year to year, the non-waterfront market remained stable.

Although non-waterfront home sales in Snapper Creek Lakes dropped during the first 6 months of 2012 compared to the same period in 2011, average and median sales prices experienced double digit growth. Waterfront home sales prices decreased, although it is important to note that the single waterfront sale was sold for land value.

CORAL GABLES

Snapper Creek Lakes

282 Rada Court, CocoplumOffered at $3,400,000

10801 Snapper Creek Road, Snapper Creek LakesOffered at $6,877,000



SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 1 $2,350,000 $2,350,000 -

Mid-year 2012 1 $2,100,000 $2,100,000 -Change 0% -11%

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 4 $2,011,000 $1,683,000 -

Mid-year 2012 2 $2,225,000 $2,225,000 -Change -50% 11% 32%



SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 2 $4,862,500 $4,862,500 -

Mid-year 2012 6 $3,556,667 $3,250,000 -Change 200% -27% -33%

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 11 $1,735,909 $1,500,000 9

Mid-year 2012 6 $1,762,500 $1,450,000 -Change -45% 2% -3%

All Properties

CORAL GABLES

Gables EstatesThere were only 3 sales in Gables Estates in

2011, all of which happened in the second half of the year. Activity in Gables Estates

continued to grow through 2012. Sales have already more than doubled 2011 figures in only

the first 6 months of 2012. ONESotheby’s International Realty was involved in 6 of

the 9 transactions.

660 Arvida Parkway, Gables EstatesOffered at $10,750,000

Ponce Davis, High PinesThis segment of the market has experienced growth in the amount of sales, however, both

average and median sales price have declined. There was no REO sales activity.


7421 Southwest 53 Court, Ponce DavisOffered at $10,500/month

CORAL GABLES

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

This segment of the market continues to rebound with no REO activity and significant growth in both average and median sales prices, despite no change in the number of transactions between the first half of 2012 and the same time period last year.


9501 Kerwood Court, Hammock OaksOffered at $3,625,000

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 0 - - -

Mid-year 2012 9 $10,038,000 $10,500,000 -Change - - -

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 20 $1,519,450 $1,225,000 5%

Mid-year 2012 24 $1,390,083 $947,500 -Change 20% -9% -23%

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 5 $2,516,000 $2,625,000 -

Mid-year 2012 5 $4,250,000 $4,250,000 -Change 0% 69% 62%


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 GroveThe amount of Coconut Grove waterfront

home sales decreased slightly during the first six months of 2012 compared to the same

period in 2011. Average sales price declined for both waterfront homes and condos during

this period, however, waterfront condo sales increased. Coconut Grove continues to be a sought after location and the waterfront

properties represent a value purchase when compared to other waterfront communities.



Condos

Coconut GroveCoconut Grove non-waterfront home sales decreased during the first six months of 2012 mostly due to a lack of available inventory. Inventory is the lowest in years, which has led to an increase in average sales price. Non-waterfront condo sales have also increased and experienced double digit growth in sales price.

2627 S Bayshore Drive #3102, Coconut GroveOffered at $9,975,000

2037 Secoffee Street, Coconut GroveOffered at $1,949,000

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 105 $606,530 $510,000 25%

Mid-year 2012 83 $643,600 $460,000 10%Change -21% 6% -10%

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 4 $5,354,000 $3,175,000 -

Mid-year 2012 3 $3,458,000 $2,550,000 -Change -25% -35% -20%

Condos($500K+)

# of Transactions

AverageSales Price

MedianSales Price

% of REO Sales

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 11 $755,727 $535,000 9%

Mid-year 2012 12 $872,479 $670,000 -Change 9% 15% 25%

# of Transactions

AverageSales Price

MedianSales Price

% of REO Sales

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 20 $1,159,370 $887,500 -

Mid-year 2012 30 $911,267 $907,500 3%Change 50% -21% 2%

North Pinecrest

South Pinecrest



Non-Waterfront Properties% of

REO Sales

10850 Southwest 68 Avenue, PinecrestOffered at $3,679,000

7445 Southwest 157 Terrace, Palmetto BayOffered at $779,000

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 38 $1,319,092 $915,000 5%

Mid-year 2012 48 $1,015,000 $819,500 2%Change 26% -23% -10%

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 57 $701,854 $582,000 9%

Mid-year 2012 54 $750,348 $642,500 11%Change -5% 7% 10%

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 132 $391,908 $385,000 18%

Mid-year 2012 119 $392,558 $380,000 13%Change -10% 0.2% -1%

Palmetto BayThe number of sales in Palmetto Bay declined the first six months of 2012 compared to the same period last year, the percentage of REO transactions also declined and prices are holding stable.

PinecrestAlthough North Pinecrest experienced

larger growth in amount of sales the first six months of 2012 compared to the same

period in 2011, South Pinecrest outperformed North Pinecrest in the total amount of sales.

Average and median sales price in South Pinecrest increased, as did the amount of

REO activity. Both average and median sales prices decreased in North Pinecrest for the

first six months of 2012 compared to the same period last year

BRICKELL DOWNTOWN KEY BISCAYNE

Miami, Downtown

DowntownDowntown is seeing improvements as well with an increase in number of transactions and median sales price. While it has been slower to recover than Brickell, closed sales are up 52% over the same half in 2010. As investors absorbed more inventory, foreclosures dropped 54% over the same time in 2011 and short sales are down 29%. Since developers and investors are leasing out more units, we do see a spike in rental transactions by 13% and rental prices fell by a median of 2%. Downtown positions itself as a true international and tech city with the addition of the Miami Science Museum that broke ground in February, the World Trade Center, the port and now discussions of a train station similar to Grand Central Station in NY from Miami to Orlando. The Genting Group (World Resorts) has scaled back their project from a casino and resort to include a luxury hotel and 2 condo towers.

Brickell2012 has been the turnaround year for

Brickell as available inventory decreased, driving average prices up 17%. Distressed

inventory decreased by 57% on foreclosures and short sales are down 41% compared

to the same time in 2011. Brickell has been a great investment for international

clientele as average rental price increased 11%. Developers are breaking ground

again - some are at 90% sold, others at 92% reservation. Mixed use complex Brickell Citi Centre is set to have its first phase

completion by 2015 and MyBrickell was the first to break ground for residential. Brickell

House and Millecento are scheduled to break ground later this year. The garage at

1000 Brickell Avenue was recently purchased with plans to build a luxury condominium.

As more restaurants move off the beach like China Grill and Taverna Opa and others move in like Brother Jimmy’s BBQ from

New York and foreign-themed restaurants such as Du Cap, Brickell is proving to be

the Manhattan of the South. As many as 15 cranes are expected to be working between Brickell and Downtown by the end of 2013.

2127 Brickell Avenue #2305, MiamiOffered at $1,500,000

888 Biscayne Boulevard #4903, Miami$339,000



Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 164 $225,355 $200,500 38%

Mid-year 2012 173 $267,753 $252,500 14%Change 5% 19% 26%

Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 356 $420,216 $271,000 21%

Mid-year 2012 314 $485,256 $326,250 11%Change -12% 15% 20%



Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 51 $233,107 $158,000 22%

Mid-year 2012 51 $245,550 $195,000 6%Change 0% 5% 23%

Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 116 $430,636 $325,000 13%

Mid-year 2012 126 $408,583 $337,000 7%Change 9% -5% 4%

Key BiscayneNo distressed inventory and a solid

steadiness characterize the waterfront single family homes of Key Biscayne. Because

of the high price point and the limited number of transactions, statistics at the end

of June 2012 showing negative results are misleading. The first half of 2012 had 4 sales

under $5,000,000 while first half of 2011 had only one which closed at $4,650,000, as shown in the drastic change in median price.

Since price range for properties offered for sale at the beginning of the second

half of 2012 is between $5,200,000 and $22,300,000, the Key Biscayne waterfront

market for single family homes and their extraordinary living is predicted to go up.Waterfront Properties


Condos

Key BiscaynePrices for the Key Biscayne waterfront condo market continue to steadily increase. To put things back in the proper perspective, one should know the range of prices is very wide in the waterfront category because it encompasses all waterfront buildings. While it is true that there was one sale at $181/square foot within a complex with direct beach access, but no views, the highest selling price per square foot has been $1,396 (a 32% increase) in newer full service buildings offering resort type living with first class amenities. It is worth noting that the number of closed transactions has increased by a robust 58% versus the first half of 2011, reducing inventories drastically (less than 7 months at the end of June 2012). At time of publication, upward trend in property price increases is already reflected in the median price for condos for sale, which is at $1,067,500 - a healthy 19% increase versus the first semester of 2011. Remarkably, it is also 43% more than the median price for closed transactions for the first semester of 2012.

1 6 I T R E N D S

330 Harbor Drive, Key BiscayneSold in May 2012

650 Ocean Drive #8C, Key BiscayneOffered at $2,195,000

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 7 $6,972,857 $6,200,000 -

Mid-year 2012 7 $5,775,429 $4,116,000 -Change 0% -17% -34%

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 74 $982,357 $705,000 5%

Mid-year 2012 117 $994,109 $750,000 4%Change 58% 1% 6%

Key BiscayneThe market for non-waterfront single family

homes is faring very well in Key Biscayne. Over the 6 month comparison, decrease in number

of transactions is offset by an impressive increase in dollar amount, putting minimum

prices per square foot at $413 (a 15% increase) and highest price per square foot at $853

(a 10% increase). At time of publication, the number of properties under contract to be

closed is at 14, representing more than half the sales for the first 6 months: the median number

of days they stayed on the market is 48 days! Current offerings reach up to $1,390/square

foot, and the entry price point into the non-waterfront market is $1,095,000.

Interestingly enough, it is the same figure of the median sales price for mid-year 2011.Non-Waterfront Properties

Key BiscayneKey Biscayne non-waterfront condos saw a surge of foreclosures during the first half of last year, representing 48% of the total sales. It is down to 14% of sales for the first half of 2012, resulting in a spectacular increase in median average sale price. Selling prices are expected to continue to increase drastically due to the reduction in inventory. Buyers who bought properties in the first 6 months of 2012 paid the lowest price of $118/square foot. At the end of June 2012, the lowest price for properties offered in the market was at $258/square foot (a 119% increase). This is reinforced by the fact that the percentage of foreclosures and short sales has diminished to 9% of total available inventory.

711 Crandon Boulevard #202, Key BiscayneOffered at $8,500/month

6 Coconut Lane, Key BiscayneOffered at $2,270,000


Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 34 $230,994 $207,500 48%

Mid-year 2012 29 $354,121 $300,000 14%Change -15% 53% 45%

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 29 $1,258,159 $1,095,000 3%

Mid-year 2012 26 $1,659,481 $1,375,000 4%Change -10% 32% 26%

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

100 S Pointe Drive #2703, Miami BeachOffered at $2,599,000


SingleFamily Homes


Condos

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 57 $2,917,751 $1,595,000 14%

Mid-year 2012 51 $4,016,041 $2,401,000 8%Change -11% 38% 51%

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 64 $773,478 $690,000 9%

Mid-year 2012 88 $819,031 $725,000 8%Change 38% 6% 5%

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 981 $596,792 $293,000 23%

Mid-year 2012 1,036 $616,405 $307,100 5%Change 6% 3% 5%

OVERVIEW

Miami Beach2012 saw a 38% increase in non-waterfront home sales in Miami Beach, with a modest increase in median and average sales price. REO and distressed sales also decreased. There was a 66% increase in sales over $2 million but no sales breaking the $3 million mark. The non-waterfront condo sector remains a steady player in the market – though the numbers come across quite differently than, as should be expected, the waterfront properties. The number of transactions is considerably up (note that there was a 47% increase in this box in mid-2011), though the price per square foot has fallen slightly for the second year in a row (5% in 2011) – which points to anticipated pricing stabilization in this sector.

OVERVIEW

Miami BeachThe Miami Beach waterfront home market

took a 50% increase in median sales price in 2012 with 16 sales in the $5 - $10 million price bracket versus only 5 sales in 2011 in that pricing category. 2011 saw most sales

falling into $1 - $3 million category as buyers anticipated the market rebound and were

snapping up lower priced waterfront homes. The percentage of distressed and REO sales dropped by 43% in 2012. In our last mid-year

report, we discussed the stabilization of the waterfront condo market based on the 30% increase in number of sales, the flushing out of distressed inventory, and a 1% increase in average price per square foot. In the first six

months of 2012, we see a modest increase in condo transactions but a whopping 15%

increase in average price per square foot, and a 79% decrease in REO sales. The American

Riviera continues to make waves and headlines as one of the leaders in the national

real estate market stabilization.

1500 Ocean Drive T-1, Miami BeachOffered at $25,000,000

48 E Rivo Alto Drive, Miami BeachOffered at $1,950,000

Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 489 $596,792 $123,000 37%

Mid-year 2012 551 $616,405 $121,900 19%Change 13% 0.1% -1%



MIAMI BEACH

Mid BeachPricing in this sector has shown the

strongest increase at the micro level as compared to the other sectors – the

average price per square foot in this condo sector is up 24%, as compared to 14% in South of Fifth, which happens to be the

most desirable of all the Miami Beach neighborhoods. Way to go Mid-Beach!

MIAMI BEACH

South BeachThe condos in this sector are customarily the bread and butter of the Miami Beach market. The decrease in the number of transactions likely is attributable to the decreasing inventories – and the 27% increase in average price per square foot points to the decreased number of distressed sales and strong demand of luxury home buyers in the world class playground we know as Miami Beach.

MIAMI BEACH

North Beach2011 saw a 62% increase in the number of condo sales from 2010. One year later – we see another increase of 51% . These are mind blowing numbers, no matter how you slice them. Average price per square foot has increased 5% from the same period in 2011. REO and short sale transactions once plagued this sector – today they are few and far between. At time of publication, there are only 8 Short Sales and not one oceanfront REO available in the local MLS for North Beach.

3801 Collins Avenue PH-1, Miami BeachOffered at $5,900,000

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

5959 Collins Avenue #1203, Miami BeachOffered at $3,695,000


Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 472 $749,501 $345,000 14%

Mid-year 2012 455 $887,437 $430,000 2%Change -4% 18% 25%


Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 201 $318,112 $222,500 25%

Mid-year 2012 304 $320,618 $177,250 13%Change 51% 1% -20%

Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 279 $439,760 $300,000 19%

Mid-year 2012 277 $495,829 $300,000 2%Change -1% 13% 0%

MIAMI BEACH

Fisher IslandThe private enclave that is Fisher Island continues to demonstrate consistent numbers. As any statistician would tell you, the small number of transactions makes it difficult to isolate any specific trends. Pricing remains constant. There was a large increase in the number of REOs, though at time of publication there were only 2 REOs out of 86 available properties – hardly a cause of concern for this elite sector.

MIAMI BEACH

South of FifthDiminishing inventories and consistent

demand resulted in a solid six months for SoFi condos. Average price per square foot is up 14%. Short sale and REO sales in any of the

five-star buildings which make up most of this neighborhood have just about disappeared.

Ocean House at 125 Ocean Drive is a newcomer to the neighborhood, offering

large, oceanfront residences with just short of total privacy and is trading at about

$1,500 per square foot.

T R E N D S I 2 1

300 S Pointe Drive #2206, Miami BeachOffered at $2,195,000

2235 Fisher Island Drive #3305, Fisher IslandOffered at $975,000O N E S O T H E B Y S R E A LT Y. C O M


Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 204 $1,179,740 $660,000 9%

Mid-year 2012 179 $1,342,060 $670,000 4%Change -12% 14% 2%


Condos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 26 $2,503,460 $2,000,000 4%

Mid-year 2012 21 $2,263,833 $2,000,000 14%Change -19% -10% 0%



MIAMI BEACH

Sunset IslandsIt is significant to note that 6 Sunset Island

sales in mid-year 2012 were between $7,000,000 and $10,000,000 with the highest

sale being $12,300,000 and only 3 sales around the $5,000,000 and under mark. In 2011, the median and average sales prices were

relatively the same around $4,700,000 while the median price in 2012 increased 57% to

$7,425,000. Homes that sold were of significant size, Mediterranean architecture with most

situated on estate size lots. ONE Sotheby’s International Realty sold a Sunset Island

waterfront home for $8,900,000 in February.

# of Transactions

AverageSales Price

MedianSales Price

% of REO Sales


Single Family Homes 1821 West 24 Street, Miami Beach

Offered at $6,200,000

MIAMI BEACH

Palm, Star & Hibiscus IslandsThe highest sale on Star, Palm and Hibiscus Island was $14,325,000 versus $ 25,500,000 in the first half of 2011, with the remaining 3 sales in the $5-7.5 million range and the rest under $5 million. This pushed the median sales price up by 43%. There was a significant change to Days on Market, dropping to 138 from 309 last year. It is important to note 2011 saw only 4 lot sales - 3 on Hibiscus and 1 on Star Island; 2012 has already had 3 lot sales, all on Star island and 1 home sold at land value. This clearly indicates a trend that buyers feel it is the right time to construct significant estates again on the islands.

MIAMI BEACH

Venetians,La Gorce Island The sales volume on the Venetians and La Gorce Island dropped by 19% versus 2011 mid-year sales. Average and median sales prices also went down, but these numbers were skewed by a large increase in sales of non-waterfront, smaller homes on the Venetian Islands. This is significant as these properties were not selling in 2011 - most sales were in the $1-3 million range with the highest sale on La Gorce Island at $5,750,000. There were no foreclosures in the first six months of 2012.

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

211 N Coconut Lane, Miami BeachOffered at $2,899,000 or Rent: $19,000/month

Condos

Waterfront Properties# of

TransactionsAverage

Sales PriceMedian

Sales Price% of

REO Sales

Single Family Homes

Mid-year 2011 9 $6,831,248 $3,137,500 -Mid-year 2012 9 $5,099,222 $4,500,000 -

Change 0% -25% 43%

Condos


TransactionsAverage

Sales PriceMedian

Sales Price% of

REO Sales

Single Family Homes

Mid-year 2011 22 $2,199,960 $2,300,000 13Mid-year 2012 18 $2,041,472 $1,875,000 -

Change -18% -7% -18%

Mid-year 2011 3 $4,650,000 $4,700,000 -Mid-year 2012 11 $6,777,927 $7,425,000 -

Change 267% 46% 58%


MIAMI BEACH

North Bay Road, Pine Tree Drive

The Pine Tree Drive and North Bay Road market changed drastically in price points of properties

that sold in the first half of 2012. In 2011 , the majority of sales (8) were between $3-6.5 million, with only 5 sales under $1 million, whereas in first half of 2012 half of ALL sales (10) were under $ 1

million. The upside is there is NO inventory in this market under $1 million as buyers were snapping

up the cheaper homes earlier this year with the resurgence of the market. North Bay Road has

seen a flurry of construction and renovation as the market has rebounded.

MIAMI BEACH

Indian Creek2012 broke records on private, guarded Indian Creek Island with the trophy sale of a $38,400,000 masterpiece by Joe Brennan, a Toronto-based architect with interior designs by world renowned Axel Vervoordt and Belgium’s star landscape architect, Peter Wirtz. ONE Sotheby’s International Realty was proud to represent both sides of this significant sale, the highest in Miami-Dade County history to date.The only other sale was sold for $14,800,000, in sync with the only sale in 2011 on the Indian Creek of $14,500,000.

Miami Beach Waterfront EstateOffered at $38,000,000

38 Indian Creek Drive, Miami BeachOffered at $15,900,000


Condos


TransactionsAverage

Sales PriceMedian

Sales Price% of

REO Sales

Single Family Homes

Mid-year 2011 17 $2,806,577 $3,862,000 -Mid-year 2012 20 $2,610,700 $1,182,500 -

Change 18% -7% -69%

Condos


TransactionsAverage

Sales PriceMedian

Sales Price% of

REO Sales

Single Family Homes

Mid-year 2011 1 $14,500,000 $14,500,000 -Mid-year 2012 2 $26,600,000 $26,600,000 -

Change 100% 83% 83%

BAL HARBOUR GOLDEN BEACH BAY HARBOR ISLANDSAVENTURA SUNNY ISLES

North of Miami


T R E N D S I 2 5

Condos

SingleFamily Homes

Bal HarbourBal Harbor waterfront homes saw only one

sale during the first half of 2012, up from no sales in all of 2011. The home had been on the market since 2010, listed without a

price reduction at $10,500,000. Bal Harbor waterfront condos had a very mixed first half

of 2012. The median price soared, yet the average sales price and price per square foot

were fairly steady and the number of units sold decreased by over 25%. Foreclosures

increased by more than double, one of only markets to see such a change. Bal Harbor

waterfront condos will be one market to keep a close eye on going forward in 2012.

Bal HarbourNon-waterfront homes in Bal Harbor saw a significant increase in average sale price, rising by over 50% from the same time last year. The number of transactions decreased, however, from 7 to 4, affecting the median sales price (which rose by over 100%).

9601 Collins Avenue PH-T1, Bal HarbourOffered at $7,499,000

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 7 $1,776,786 $1,250,000 -

Mid-year 2012 4 $2,679,005 $2,895,509 -Change -43% 51% 132%

SingleFamily Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 0 - - -

Mid-year 2012 1 $830,000 $830,000 -Change - - -

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 86 $847,873 $452,500 5%

Mid-year 2012 64 $825,266 $772,509 13%Change -26% -3% 71%




2 6 I T R E N D S

Golden BeachGolden Beach waterfront home prices sent

mixed messages during the first half of 2012. The average sales price and price per square

foot were both down, as well as number of homes sold, while the median price rose.

With such a low sampling of properties, the market needs to be looked at on a home by home basis. Golden Beach, like Bal Harbor non-waterfront homes, saw a hefty increase

in average sales price, median sales price and price per square foot. Average sales price

and price per square foot both rose by more than 50% compared to this time last year. The

number of homes sold remained the same.

Bay Harbor IslandsThere have not been any single family waterfront homes sold in Bay Harbor Island year to date. There are four currently on the market, all of them listed higher than the average sale for this time last year (offered from $2,975,000 to $4,900,000).

9341 E Bay Harbor Dr PH-B, Bay Harbor IslandsOffered at $299,000

Single Family Homes

310 South Parkway, Golden BeachOffered at $6,900,000

Waterfront PropertiesMedian

Sales PriceAverage

Sales Price# of

Transactions% of

REO SalesMid-year 2011 2 $2,946,000 $2,946,000 -

Mid-year 2012 0 - - -Change -100%


Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 7 $3,614,286 $2,500,000 -

Mid-year 2012 3 $2,991,667 $2,775,000 -Change -57% -17% 11%


Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 4 $776,250 $822,500 -

Mid-year 2012 4 $1,253,750 $1,175,000 25%Change 0% 62% 43%



T R E N D S I 2 7

AventuraAventura waterfront condos saw a relatively

flat market with a small upswing in all metrics, including average sales price, median sales

price, $/sf and number of units sold. The one clearly positive indicator was that foreclosure

properties were down nearly 50%, perhaps paving the way for a healthier recovery in

the not too distant future as REO sales are cleared out of the inventory.

Sunny IslesSunny Isles continued to be a strong segment of the overall Miami market with the number of sales increasing 33%. As the developer inventory dwindles, prices at year end remained essentially unchanged. Sunny Isles represents the bulk of the new pre-construction projects currently being launched in the South Florida market. The Sunny Isles area represents a 40 block stretch from Haulover Park to the town of Golden Beach. Since January 2012, developments such as Mansions at Aqualina, Regalia, Chateau Beach Resort, Porsche Designed Tower, 400 Sunny Isles, Apogee Beach, and St. Tropez IV & V have launched sales at prices averaging north of $800 a foot. Approximately 1,500 new units are planned for this area.

3703 Northeast 214 St #12, AventuraOffered at $1,250,000

17201 Collins Avenue #1202, Sunny IslesOffered at $699,000


Single Family HomesCondosCondos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 460 $362,725 $265,000 15%

Mid-year 2012 511 $369,596 $270,000 8%Change 11% 2% 2%


Single Family HomesCondosCondos

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 440 $496,421 $234,000 19%

Mid-year 2012 455 $588,040 $390,000 6%Change 3% 18% 67%

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 LauderdaleDespite a decrease of 6% compared to the same period in 2011 and the same average of days on the market (99 days), average and median sale prices significantly increased and produced a whopping $147,349,144 in sales, comparing to only $133,428,864 in the first six months of 2011. Non-waterfront condos over $500,000 were one of the few market sectors that saw mixed results in the first half of 2012 compared to the first half of 2011. Sales were up in number of units but down in both median sales price and average price per square foot (average sales price was near flat, year to year). Foreclosures, however, doubled, likely having an impact on the sales prices. The most expensive property sold for $2,800,000 cash at The Palms. ONE Sotheby’s International Realty was proud to represent the seller.

OVERVIEW

Fort LauderdaleYear over year the number of transactions

decrease as the price points increase. REO activity in 2012 is half of what it was in the

same time period last year. Waterfront condos sales over $500,000 saw a slow

and steady improvement in all indicators of a stabilizing market. Sales were slightly

up, as was average and median sales prices and average price per square foot. There were very few foreclosures in this market,

both in the first half of 2011 and 2012.

715 Bayshore Drive PH-2, Fort LauderdaleOffered at $1,599,000

1738 Southwest 24 Avenue, Fort LauderdaleOffered at $319,000

Condos($500K+)

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 205 $1,022,234 $675,000 16%

Mid-year 2012 196 $1,075,662 $825,000 9%Change -4% 5% 22%

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 105 $829,859 $690,000 4%

Mid-year 2012 121 $887,183 $749,000 3%Change 15% 7% 9%

Condos($500K+)

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 685 $194,787 $105,000 6%

Mid-year 2012 641 $229,386 $138,000 3%Change -6% 18% 31%

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 13 $626,000 $620,000 8%

Mid-year 2012 18 $637,636 $565,000 22%Change 38% 2% -9%

This exclusive enclave has seen the average listed price jump to over $3 million in 2012. The average sales price is still well below that mark, signaling that much of the activity dropped off in the waterfront home market as the lower priced inventory was absorbed. The second half of the year should see an increase in sales prices both in waterfront and non waterfront categories.

FORT LAUDERDALE

Harbor Beach

FORT LAUDERDALE

Las Olas IslesThe real estate market feedback for Las

Olas Isles is mixed at best. While the number of sales increased (up to 200% for non-waterfront homes), average sales prices

remained stable, yet median sales price of both waterfront and non-waterfront homes dropped significantly. One bright side was

that the number of REOs did decrease, especially in the non-waterfront market.

Non-Waterfront Properties# of

TransactionsAverage

Sales PriceMedian

Sales Price% of

REO Sales


Single Family Homes


2536 Lucille Drive, Fort LauderdaleOffered at $5,500,000

2500 Delmar Place, Fort LauderdaleOffered at $3,290,000

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 44 $1,847,725 $1,500,000 11%

Mid-year 2012 47 $1,831,153 $1,262,500 9%Change 7% -1% -16%




Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 7 $1,750,714 $1,230,000 -

Mid-year 2012 1 $1,100,000 $1,100,000 100%Change -86% -37% -11%

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 5 $1,092,600 $710,000 -

Mid-year 2012 5 $864,600 $948,000 -Change 0% -21% 34%

Mid-year 2011 3 $641,666 $735,000 33%

Mid-year 2012 9 $654,500 $637,000 11%Change 200% 2% -13%

T R E N D S I 3 1

FORT LAUDERDALE

Lighthouse PointA great illustration of sales can only happen when there is inventory. The number of homes on the market is down 40% from the same time last year. Consequently, sales of waterfront homes dropped 44% in the number of transactions as compared to last year. Sales volume decreased from $131 million with an average days on market of 168 days to $46 million in 2012 with 138 days on the market.

FORT LAUDERDALE

Lauderdale by the SeaSales of waterfront homes doubled in the

first half of 2012, driven by lower prices an absorption of some of the affordably priced

REO Inventory. There are currently 28 homes on the market, 19 of which are waterfront.

1460 S Ocean Blvd #1601, Fort LauderdaleOffered at $2,395,000




Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 5 $918,100 $860,000 20%

Mid-year 2012 10 $643,900 $583,500 10%Change 100% -30% -32%

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 7 $418,629 $350,000 1%

Mid-year 2012 6 $388,417 $365,000 -Change -14% -7% 4%




Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 85 $1,029,381 $835,000 5%

Mid-year 2012 48 $956,688 $696,250 8%Change -44% -7% -17%

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 30 $316,610 $331,500 10%

Mid-year 2012 38 $330,350 $271,250 5Change 27% 4% -18%

FORT LAUDERDALE

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

access to the ocean - a boater’s dream come true. Rio Vista continues to attract buyers. Inventory is low and the absence

of REO sales in this community has driven average sales prices up a staggering 108% for waterfront homes and 31% for non-waterfront

homes from the same time period last year.

FORT LAUDERDALE

Hillsboro BeachThis enclave of waterfront homes has seen no change in the total number of sales from the first six months of 2011 to the first six months of 2012 - however, this year’s single sale sold for a significant 56% higher price than last year’s, the highest in Broward county so far this year.

1501 Southeast 9 Street, Fort LauderdaleOffered at $2,750,000

Non-Waterfront PropertiesNon-Waterfront Properties


Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 7 $1,000,414 $940,000 -

Mid-year 2012 5 $2,076,700 $1,875,000 -Change -29% 108% -11%


Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 1 $7,700,000 $7,700,000 -

Mid-year 2012 1 $12,000,000 $12,000,000 -Change 0% 56% 56%

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 15 $549,458 $535,000 -

Mid-year 2012 8 $718,352 $610,000 -Change -47% 31% 14%

FORT LAUDERDALE

Victoria Park, Sunrise Key

A cozy residential neighborhood nestled in the heart of downtown Fort Lauderdale, Victoria

Park is a vibrant community that retains its Old Florida charm. The area saw a staggering

500% increase in number of sales compared to the same time period of last year. This luxury

sector of waterfront single houses of Fort Lauderdale seems to be appreciated by buyers,

who were ready to pay up to 66% and 76% more in average and median sales prices the

first six months of 2012.

FORT LAUDERDALE

Fort Lauderdale BeachThe median sales price of waterfront homes jumped a whopping 107%, signaling the low amount of lesser priced inventory remaining on Fort Lauderdale Beach. Similarly, there are no REO sales left to be talked about, as it seems that many of the foreclosure deals were snapped up in 2011. Non-waterfront homes followed the trend.

1200 Holiday Drive #603, Fort LauderdaleOffered at $1,750,000

625 5 Key Drive, Fort LauderdaleOffered at $2,995,000




Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 5 $2,228,800 $1,200,000 20%

Mid-year 2012 3 $2,076,676 $2,480,000 -Change -40% -7% 107%

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 5 $424,260 $385,000 20%

Mid-year 2012 5 $574,500 $600,000 20%Change 0% 35% 56%




Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 1 $850,000 $850,000 -

Mid-year 2012 6 $1,414,000 $1,500,000 -Change 500% 66% 76%

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 15 $405,696 $450,000 -

Mid-year 2012 16 $528,937 $522,500 -Change 7% 30% 16%



FORT LAUDERDALE

Hollywood Beach,Hallandale BeachThe Hollywood-Hallandale beach market is benefiting from the influx of investors chasing deeply-discounted condo resales. With the increasing number of transactions in this very active condo market, we see a slight decrease in the number of transactions involving bank owned properties, which might be evidence of market improvement. A decrease in available inventory contributed to an overall decrease in sales of non waterfront homes with a marginal increase in pricing.

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 no change in number

of transactions, but a fluctuation of both average and median sales prices. Bank owned

properies continue to be a strong influence in the Hollywood and Hallandale waterfront

condo market.

3 4 I T R E N D S

Forest View Estates, HollywoodFrom $565,000 - $840,000

1140 N Southlake Drive, HollywoodOffered at $2,295,000


Condos

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 13 $1,206,250 $1,235,000 -

Mid-year 2012 13 $1,390,483 $877,000 -Change 0% 15% -29%

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 940 $224,741 $160,000 25%

Mid-year 2012 797 $255,996 $183,000 12%Change -15% 14% 14%


Condos

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 21 $451,479 $445,000 5%

Mid-year 2012 26 $437,194 $422,500 4%Change 24% -3% -5%

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 51 $171,953 $140,000 27%

Mid-year 2012 52 $178,300 $143,990 23%Change 2% 4% 3%

T R E N D S I 3 5

FORT LAUDERDALE

Coral Ridge, The LandingsCoral Ridge and The Landings continue to deliver value this year. Numbers of sales dropped slightly, but average and median sale prices are on the rise.


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. Decrease of the total

number of homes available for sale affected both average sales and median prices. A mere

seven residences in Bay Colony were on the market at time of publication.

230 N Compass Drive, Fort LauderdaleOffered at $2,599,000

5431 Northeast 31 Avenue, Fort LauderdaleOffered at $1,595,000






Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 47 $894,501 $775,000 11%

Mid-year 2012 38 $953,270 $758,750 5%Change -19% 7% -2%

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 73 $474,669 $370,000 15%

Mid-year 2012 69 $476,569 $450,000 11.5%Change -5% 0.4% 22%

Single Family Homes

MedianSales Price

AverageSales Price

# of Transactions

% of REO Sales

Mid-year 2011 0 $0 $0 -

Mid-year 2012 3 $2,000,000 $1,900,000 -Change - - -

COVER PROPERTY: Miami Beach Waterfront Estate I offered at $38,000,000This 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. ©MMXII Sotheby’s International Realty Affiliates LLC. All Rights Reserved. An Equal Opportunity Company. Equal Housing Opportunity.

Cielo on the Bay16 Stories • 36 Flow through residencesTwo & three bedrooms • 1,840 - 1,954 square feetFrom low $500,000swww.CieloontheBay.com

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TRENDS 2012 Mid Year Real Estate Update - MIAMI

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