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TRENDSONE Sotheby’s INTERNATIONAL REALTY
2 0 1 0 IN REVIEW
Looking back on 2010, the phrase “cautiously optimistic” comes to mind. Our entire company was hopeful that 2010 would be the first step towards a real estate recovery in South Florida. It seems that the downward pressure on pricing finally reached the point where people started to take notice.
We were right. The world stepped in and started looking at properties and making offers. The luxury market in particular was attracting world-wide attention with buyers coming from all over the globe to take advantage of good values in South Florida real estate. Sales of properties over $1 Million are up 22% from 2009 in Miami-Dade County. The inventory of properties over $1 Million in Broward County has dropped from a four-year supply in December of 2009 to a 27-month supply in December of 2010.
Perhaps one of the largest success stories is the condo market in Downtown Miami. Once a poster image for the national real estate bubble, 2010 saw lights being added to the skyline and marked the first real sales activity in newer buildings in recent years. Bulk unit buyers who had been standing on the sidelines waiting to swoop in and buy up units at a big discount were all but shut out. Value is building and prices are improving in Downtown Miami. It is a thriving residential neighborhood.
We are excited to share with you our annual market report that provides a comprehensive analysis of real estate market activity in Miami-Dade and Broward, as well as in depth community profiles for both counties. Our hope is that this report will help educate you, but it should not be relied upon to determine a fair market value for any single property. If we can ever be of further assistance, please let us know.
Janie CoffeyONE Sotheby’s International Realty+1 786 252 4970www.janiecoffey.com
Y E A R I N R E V I E W 2 0 1 0
CORAL GABLESSantona Corner1430 S Dixie Highway, Suite 110Coral Gables, Florida 33146
MIAMI BEACHAtlantic Center Building119 Washington AvenueMiami Beach, Florida 33139
KEY BISCAYNEThe Galleria Mall328 Crandon Boulevard, Suite 222Key Biscayne, Florida 33149
FORT LAUDERDALELas Olas888 E Las Olas Boulevard, Suite 110Fort Lauderdale, Florida 33301
Key ObservationsWhat were buyers looking for? Besides good value, location was important. South Florida has an abundance of sun and coastal waterfront. In South Florida, a staggering 73% of sales over $1 million were on waterfront properties in 2010. Seems that sand and surf are still a draw.
O N E S O T H E B Y S R E A LT Y. C O M0 4 I T R E N D S
“After a near-disastrous 2009, the luxury market appears to be making a comeback, driven by growingbuyer confidence, improved financing conditions and more realistic seller pricing. Despite the housingdownturn, attractively priced homes in some of the nation’s most coveted neighborhoods are selling,sometimes fast and sometimes with multiple offers. Nationwide, sales of homes selling for $2 Million to $5 Million in the first quarter totaled 2,461, up 32% from a year before, says CoreLogic. THE WALL STREET JOURNAL, 28 MAY 2010
205
10
HOT MONTHS That’s the numberof homes over $750,000 that wentunder contract in March in Miami-Dadeand Broward Counties. March was thebusiest month for buyer activity than any other month in the past two years. Source: Terradatum
SIGNIFICANT SALESONE Sotheby’s International Realty sold this luxury property in Coral Gables for $14.1 Million. This transaction was one of the highest sales in South Florida in 2010.Source: Terradatum
WINDOW SHOPPING New exclusive online partnerships withNYTimes.com and WSJ.com sent evenmore visitors to SothebysRealty.com,which now averages over 440,000 visitsper month - more traffic than anyother luxury real estate brand.Source: SothebysRealty.com Web Statistics
NOT SO DISTRESSED While headlines about short sales and bank-owned properties dominated the media, they didn’t dominate our local luxury market. Only 9% of homes over$1 Million in Miami-Dade and BrowardCounties were “distressed” transactions. Source: Southeast Florida Regional MLS
HOT ZIPS 33160 was the hottest zip code for high-end real estate. 100 properties traded hands in 2010 for prices above $1 Million in this North Miami Beach zip code, driven by direct ocean views and the lack of South Beach prices. Source: Southeast Florida Regional MLS
ULTRA LUXURY The number of residential properties sold over $10 Million in 2010 in Miami-Dade and Broward Counties. ONE Sotheby’s International Realty led the way by participating in 22% of these sales. Source: Terradatum
Y E A R I N R E V I E W 2 0 1 0
Traditional Short Sale Bank-Owned
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 0 5
High-End InventoryOf the 54,000+ homes that sold in Miami-Dade and Broward Counties in 2010, just 2.4% of these properties sold for $1 million or more. Below, we have compared how high-end homes in each price category sold during 2010 with how many homes were on the market. Despite living in one of the largest real estate markets in the country, the high-end segment remains small and requires a laser focus to successfully market real estate offerings to an exclusive and private audience.
NUMBER OF HOMES
PRIC
E RA
NG
E
0
$10M+
$5M - $10M
$3M - $5M
$1M - $3M
$500K - $1M
1250 2500 3750 5000
Under $1 MillionOver $1 Million
Sold 2010On The Market
O N E S O T H E B Y S R E A LT Y. C O M0 6 I T R E N D S
Source: Southeast Florida Regional MLS.Source: Southeast Florida Regional MLS.
Month by Month
Average Sales Price
A month by month comparison illustrates the increasing stability of the South Florida market. Home sales did trend higher in the seasonal months of March through June. The year came to a close with a large increase in December closed sales as well, perhaps signaling a strong 2011 to come.
Sales prices in both Miami Dade and Broward fluctuated little overall during 2010. The spikes in March and June show the “mix factor” where more high priced properties closed in those months. Interesting to note - in September, both counties had almost identical numbers, with an average sales price of around $265,000.
NOT MUCH NEW Only 7% ofthe 5,000+ homes on the market above$750,000 were built in 2009 or later. New construction nearly came to a haltin the economic crisis, but many buyersnot only prefer, but demand, new construction. Source: Southeast Florida Regional MLS. Active inventory count currentas of September 29,2010
TWO YEARS OLD ONE Sotheby’s International Realty celebrated its second birthday in 2010.The company, with 200 full-time estateagents and 4 offices throughout South Florida, achieved the highest average sales price for its clients of any major real estate company in Miami-Dade and Broward Counties.Source: Terradatum
Y E A R I N R E V I E W 2 0 1 0
$0Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$100K
$200K
$300K
MONTH
0Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1250
2500
3750
5000
MONTH
NUM
BER
OF
HO
MES
SO
LDPR
ICE
Miami-Dade County Broward County
Miami-Dade County Broward County
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 0 7
Source: Southeast Florida Regional MLS
Source: Southeast Florida Regional MLS
CORAL GABLES COCOPLUM SNAPPER CREEK LAKES GABLES ESTATES
OLD CUTLER WATERFRONT PONCE DAVIS, HIGH PINES COCONUT GROVEPINECREST PALMETTO BAY
South of Miami
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M
Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 50 $3,018,200 $2,475,000 2010 57 $2,826,013 $2,550,000 11%
Change 14% -6% 3%
Condos($1M+)
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Non-Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 313 $683,050 $530,000 16%2010 352 $683,611 $518,000 10%
Change 12% 0% -2%
2009 7 $1,357,500 $1,262,500 -2010 12 $2,101,455 $1,245,000 -
Change 71% 55% -1%
OVERVIEW
Coral GablesCoral Gables luxury condos characterized by closed sales over $1 million experienced most growth in Coral Gables condo market. Sales of these condos nearly doubled and Average Sold Price increased by nearly 55%. This segment of the market remains healthy, with no REO sales in 2009 or 2010. The sale of Coral Gables non-waterfront homes increased by over 12% in 2010 compared to 2009, however, the amount of REO sales decreased by over 26%. Although the amount of homes sold in 2010 increased, Average Sold Price remained the same in 2010 compared to 2009.
OVERVIEW
Coral GablesGeorge Merrick’s early promotions termed
Coral Gables as the Venice of Florida, featuring pictures of gondolas on the Gables Waterway.
Today, there are no gondolas, but lovely homes that dot the waterways on the way to Biscayne
Bay. Sales of waterfront homes in the Gables jumped slightly over 2009, with the sale of
7 bank-owned properties.
T R E N D S I 0 9
6950 Sunrise Drive, Coral GablesOffered at $4,999,000
1300 Ponce de Leon Blvd. #807, Coral GablesOffered at $549,000
O N E S O T H E B Y S R E A LT Y. C O M1 0 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
CORAL GABLES
CocoplumThe guard-gated community of Cocoplum
is known for its high-end properties and safe streets. Cocoplum waterfront sales remained
about the same in 2010 compared to 2009. Average Sales Price dropped by 36%.
Cocoplum non-waterfront Sales performed better in 2010 than 2009. The amount of
homes sold increased by 75% and Average Sales Price increased by over 15%.
Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Single Family Homes
Single Family Homes
Waterfront Properties
The exclusive, gated, and prestigious enclave of Snapper Creek Lakes consists of a mere 124 residences on oversized lots of at least one acre. The full-service marina has a five-minute access to the bay, with full-time dock master and security. After almost 3 years of no waterfront sales in this community, 3 waterfront homes sold in 2010. Two of these sales were lakefront, the third canal front with bay access. There was also a pending sale in 2010 for another canal front home with bay access, which is expected to close in the 1st quarter of 2011. The amount of sold non-waterfront homes tripled in 2010, with average price increasing by over 27%.
Single Family Homes
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 2 $1,725,000 $1,725,000 -2010 6 $2,194,750 $1,667,500 -
Change 200% 27% -3%
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 0 - - -2010 3 $2,730,000 $2,610,000 -
Change N/A N/A N/A
Non-Waterfront Properties
Waterfront Properties
Single Family Homes
Single Family Homes
CORAL GABLES
Snapper Creek Lakes
2009 8 $1,796,233 $1,525,000 - 2010 14 $2,080,804 $1,758,750 -
Change 75% 16% 15%
Non-Waterfront Properties
2009 7 $4,935,714 $3,500,000 - 2010 8 $3,146,250 $3,022,500 -
Change 14% -36% -14%
5 Tahiti Beach Road, Coral GablesOffered at $14,500,000
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 1 1
I N D E P T H C O M M U N I T Y P R O F I L E S
2009 10 $5,929,000 $5,437,500 -2010 4 $5,713,000 $4,575,000 1
Change -60% -4% -16%
2009 53 $1,427,613 $755,000 4%2010 44 $1,155,628 $840,000 2%
Change -17% -19% 11%
Ponce Davis, High PinesOne of the fastest-growing, non-waterfront
neighborhoods in the area, Ponce Davis is located directly between Coral Gables and
South Miami. Sales in High Pines/Ponce Davis dropped slightly in 2010 compared to 2009,
as did Average Sales Price. Median Sales Price increased by over 11% and REO sales dropped.
CORAL GABLES
Old Cutler Waterfront CommunitiesOld Cutler Bay, Hammock Oaks, Journey’s End
Just to the east of the famed, canopy-covered Old Cutler Road are some of Miami’s most prestigious waterfront homes. Sales at Old Cutler Bay remained almost the same in 2010 compared to 2009 and Average Sales Price increased by 50% in 2010. Sales at Hammock Lakes spiked in 2010 and Average Sales Price more than doubled.
# of Transactions
AverageSales Price
MedianSales Price
% of REO
CORAL GABLES
Gables EstatesOne of the most desirable neighborhoods in
the area, Gables Estates sits on over 200 acres of the Coral Gables shore. Sea-walled canals
weave through the community, connecting these magnificent homes to the ocean. The
number of homes sold in 2010 decreased by more than half. Of the 3 sales made in 2010,
one was an REO, which caused a drop in both average and median sales price for the year.
All Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
Single Family Homes
Single Family Homes
2009 5 $3,112,444 $3,376,333 - 2010 8 $3,869,306 $3,929,167 -
Change 60% 24% 16%
Waterfront Properties
Single Family Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Non-Waterfront Properties
400 Arvida Parkway, Coral GablesOffered at $16,975,000
8600 Southwest 53 Avenue, Ponce DavisOffered at $3,650,000
461 Rovino Avenue, Coral GablesOffered at $1,299,000
1 2 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M
Coconut GroveThe Coconut Grove waterfront market
showed increase in activity in 2010 compared to 2009. Amount of homes sold more than
tripled and Average Sales Price increased by 52%. The amount of Coconut Grove
waterfront condo sales increased by 75% and Average Sales Price increased by over 20%.
There was a slight decrease in the amount of REO sales in this category.
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Non-Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 161 $614,431 $495,000 22%2010 154 $617,911 $510,000 14%
Change -4% 1% 3%
2009 134 $285,897 $241,250 45%2010 213 $111,667 $85,000 35%
Change 59% -61% -65%
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 2 $3,625,000 $3,625,000 - 2010 7 $5,496,429 $5,500,000 -
Change 250% 52% 52%
2009 48 $620,373 $477,500 8%2010 84 $746,840 $593,750 5%
Change 75% 20% 24%
Coconut GroveCoconut Grove non-waterfront home sales remained about the same in 2010 compared to 2009, as did the Average Sales Price. The amount of Coconut Grove non-waterfront condo sales increased by 59%, however, 35% of these sales were REO sales, which explains the large drop in Average Sales Price. This category includes the sale of Townhomes and Villas.
2627 S Bayshore Drive #3201, Coconut GroveOffered at $14,500,000
3601 Matheson Avenue, Coconut GroveOffered at $2,850,000
T R E N D S I 1 3
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M
5935 Moss Ranch Road, PinecrestOffered at $4,149,000
13925 Old Cutler Road, Palmetto BayOffered at $1,995,000
Palmetto BayPalmetto Bay sales were the same in 2009 as in 2010, however, Average Sales Price decreased by about 4% and there was a slight decrease in the amount of REO sales.
2009 71 $1,225,505 $1,112,500 7%2010 87 $1,336,896 $1,021,000 4%
Change 23% 9% -8%
2009 118 $822,291 $610,000 17%2010 101 $798,642 $645,000 8%
Change -14% -3% 6%
Single Family Homes
South Pinecrest# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
Single Family Homes
North Pinecrest# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
PinecrestNorth Pinecrest sales in 2010 increased by
over 22% and Average Sales Price increased 9%. There were about half the amount of REO
sales in North Pinecrest than South Pinecrest. Average Sales Price in North Pinecrest was
67% higher than South Pinecrest in 2010. South Pinecrest Sales were less in 2010 than in 2009.
Average Sales Price decreased by 3% and REO sales decreased. Sales in South Pinecrest were
16% more than in North Pinecrest, however, Average Sales Price is 40% less.
% of REO
Non-Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price2009 217 $411,605 $382,000 18%2010 217 $395,063 $367,500 17%
Change - -4% -4%Single Family
Homes
1 4 I T R E N D S
BRICKELL DOWNTOWN KEY BISCAYNE
Miami, Downtown
Marquis Residences1100 Biscayne Boulevard, Miami
T R E N D S I 1 5
Waterfront Properties
Non-Waterfront Properties
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 194 $172,603 $155,000 62%2010 218 $194,003 $168,250 39%
Change 12% 12% 9%
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 497 $415,612 $248,000 33%2010 612 $408,119 $250,000 21%
Change 23% -2% 1%
Waterfront Properties
Non-Waterfront Properties
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 90 $152,394 $139,900 9%2010 71 $196,290 $146,000 23%
Change -21% 29% 4%
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 189 $309,213 $246,100 8%2010 150 $243,564 $225,000 15%
Change -21% -21% -9%
DowntownSince 2005, the media in South Florida proclaimed that more than 62,000 condo units were expected to take shape in downtown Miami and Brickell. By the last quarter of 2010, only 17,502 units were completed. To date, less than 5,000 units remain on the market, leading one to believe that by 2013 the inventory can be easily absorbed.
BrickellBrickell has seen the development of 28 new high-rises since 2005 - a total of 7,714 condo
units, of which 5,719 are sold to date. This means more than 74% of Brickell’s inventory
has been absorbed and continues to decrease at a steady rate.
1425 Brickell Avenue #55C/D, MiamiOffered at $2,650,000
Key BiscayneKey Biscayne, once a sleepy island village, has blossomed into a thriving year-round community. Officially now the Village of
Key Biscayne, the addition of the park and community center has made “The Key” one
of the top spots to live. Sales of Key Biscayne Waterfront homes doubled in 2010.
Waterfront Properties
Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 4 $5,000,000 $4,950,000 -2010 8 $5,774,313 $6,091,250 -
Change 100% 15% 23%
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 150 $942,150 $660,000 -2010 153 $972,512 $675,000 -
Change 2% 3% 2%
Key BiscayneSales of Key Biscayne waterfront condos in 2010 remained about the same as in 2009. Interesting to note that the Average Sales Price increased, as did the Median Sales price, indicating sales movement on some of the more expensive offerings.
O N E S O T H E B Y S R E A LT Y. C O M1 6 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
40 Island Drive, Key BiscayneSeasonal rental at $15,000 per month
445 Grand Bay Drive #1207, Key BiscayneOffered at $2,995,000
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 1 7
Key BiscayneThe “Mackle” homes that typify the
non-waterfront, single family home on Key Biscayne were originally constructed to provide affordable housing for construction
crews working on the Key Biscayne Hotel and Villas. Fast forward - these 3 bedroom, 1 bath homes have evolved, coming a long way with
prices now hovering around the $1 Million mark. Some softening in the prices has led
to a 54% increase in sales in 2010.
Non-Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 39 $1,462,614 $1,170,000 -2010 60 $1,370,623 $1,116,250 -
Change 54% -6% -5%
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 31 $478,089 $420,000 -2010 57 $383,684 $334,000 -
Change 84% -20% -20%
Non-Waterfront Properties
Key BiscayneA well kept secret, non-waterfont condominiums on Key Biscayne represent a value option for living in the island paradise. Sales of these condos jumped 84% over 2009 and with the Average Sales Price dropping 20%, the value is better than ever.
1121 Crandon Boulevard #F302, Key BiscayneOffered at $1,595,000
300 Greenwood Drive, Key BiscayneOffered at $2,450,000
1 8 I T R E N D S
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
T R E N D S I 1 9
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Non-Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 119 $661,555 $550,000 25%2010 129 $773,530 $600,000 12%
Change 8% 17% 9%
2009 467 $204,668 $145,000 31%2010 628 $165,736 $125,000 30%
Change 34% -19% -14%
2009 1113 $530,000 $310,000 19%2010 1295 $546,646 $295,000 18%
Change 16% 3% -5%
2009 63 $2,243,074 $1,350,000 24%2010 73 $2,653,251 $1,600,000 16%
Change 16% 18% 19%
OVERVIEW
Miami BeachIt is interesting to note that non-waterfront homes on average are roughly one-third the price of homes on the water. Sales in these homes increased slightly year over year. The non-waterfront condo market in Miami Beach has the highest concentration of distressed properties. These sales continue to drive the prices downward, while the total number of sales increase.
OVERVIEW
Miami BeachMiami Beach waterfront property is always one of the most active real estate markets in South
Florida. Bolstered by international sales, the Miami Beach waterfront home sales averaged
$710 per square foot. Homes on North Bay Road led the way with 11 homes sold, totaling more than $67 million, contributing in part to
the overall increase in Average Sales Price. The number of bank-owned properties dropped by a third in 2010. Waterfront condominiums had
an increase in the number of sales while the prices remained relatively the same.
6621 Allison Road, Miami BeachOffered at $3,699,000
5696 Alton Road, Miami BeachOffered at $1,250,000
O N E S O T H E B Y S R E A LT Y. C O M2 0 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
Condos
Condos
Condos
2009 559 $678,862 $335,000 16%2010 662 $667,640 $330,000 16%
Change 18% -2% -1%
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
2009 126 $237,558 $175,500 42%2010 168 $211,472 $130,000 38%
Change 33% -11% -26%
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
2009 360 $388,209 $310,000 18%2010 374 $464,133 $290,000 14%
Change 4% 20% -6%
MIAMI BEACH
Mid BeachHome to Millionnaires’ Row, the Mid Beach
condo market held steady in 2010 while boasting a 20% increase in Average Sales
Price. The Residences of W South Beach at 22nd Street and Collins Avenue had sales
averaging well over $1,000 per square foot, illustrating that signature properties with
stellar amenities can still yield high prices.# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
Waterfront Properties
MIAMI BEACH
South BeachKnown as SoBe, this area attracts those who want to see and be seen. Known all over the world for its nightlife, the South Beach area was the most active condo market on Miami Beach in 2010. Sales activity as compared to 2009 show little change overall.
MIAMI BEACH
North BeachThis up-and-coming neighborhood has been transformed by the addition of Canyon Ranch Resort and Condominiums. Smaller condo conversions have been particularly hard hit by foreclosures, pulling the Average Sales Price in this area down, but also creating some great buys that resulted in sales increasing by 33%.
The Residences at W South BeachFrom $660,000 to $6,500,000
101 Ocean Drive #501, Miami BeachOffered at $785,000
6365 Collins Avenue #TS-9, Miami BeachOffered at $1,049,000
T R E N D S I 2 1
I N D E P T H C O M M U N I T Y P R O F I L E S
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
O N E S O T H E B Y S R E A LT Y. C O M
All Properties
2009 32 $1,982,639 $1,300,000 9%2010 35 $1,703,329 $1,800,000 -
Change 9% -14% 38%
All Properties
2009 221 $1,117,365 $635,000 9%2010 254 $985,165 $617,500 10%
Change 15% -12% -3%
MIAMI BEACH
Fisher IslandWaterfront condominiums on the exclusive Fisher Island retained their popularity with buyers in 2010. Prices dropped a bit causing a slight increase in sales over 2009. The typical sale was a 3 bedroom, 3 bathroom residence with approximately 3,000 square feet and a waterfront view.
MIAMI BEACH
South of FifthThis residential enclave of condominiums has some of the most expensive condominiums in
all of Miami Beach. With breathtaking views and anything you could possibly want within a short walking distance, condos South of Fifth
had a 15% increase in the number of sales. Although the Average Sales Price dropped,
sales in this area are among the highest price per square foot on Miami Beach.
T R E N D S I 2 1
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M
800 S Pointe Drive #1603, Miami BeachOffered at $6,200,000
5171 Fisher Island Drive PH, Fisher IslandOffered at $15,900,000
O N E S O T H E B Y S R E A LT Y. C O M2 2 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
MIAMI BEACH
Venetian,La Gorce Island Waterfront sales were quite active in Venetian and La Gorce Islands in 2010. The average sold price increased by over 55%. As a whole, the amount of sales in these islands nearly doubled in 2010 compared to 2009. The highest 2010 waterfront sale in Miami Beach was 88 La Gorce Circle on La Gorce Island, which sold for $16,000,000. The 2008 built home has over 260 feet of waterfront on over an acre of land.
MIAMI BEACH
Palm, Star & Hibiscus IslandsSales on these exclusive island homes are the perfect illustration of the price driven real estate market. As asking prices were lowered, buyers were stepping in to take advantage of the favorable values, resulting in 9 sales and representing one of the most significant increases in the market.
Condos2009 3 $7,066,667 $2,700,000 -2010 9 $4,555,556 $3,250,000 -
Change 200% -36% 20%
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
2009 8 $2,547,500 $2,480,000 -2010 15 $3,911,800 $1,950,000 6
Change 88% 54% -21%
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
2009 5 $4,164,084 $2,250,000 -2010 7 $1,729,500 $1,850,000 -
Change 40% -58% -18%
MIAMI BEACH
Sunset IslandsOne of Miami Beach’s most desirable
neighborhoods, the Sunset Islands boast the closest single family residence proximity to
South Beach. The amount of non-waterfront sales tripled in 2010 compared to 2009, however, both Average Sales Price and
Median Sales Price price decreased. Only the non-waterfront market in Sunset Islands saw
activity in 2010. At the time of publishing, only 9 of the 175 waterfront homes in the Sunset
Islands were available for purchase.# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
All Properties
Single Family Homes
Single Family Homes
Single Family Homes
2201 Sunset Drive, Miami BeachOffered at $5,900,000
211 N Coconut Lane, Palm IslandOffered at $3,495,000
94 la Gorce Circle, Miami BeachOffered at $12,900,000
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 2 3
I N D E P T H C O M M U N I T Y P R O F I L E S
MIAMI BEACH
North Bay Road, Pinetree Drive
With over 150 waterfront residences, North Bay Road is widely considered the most
important residential street in Miami Beach. Pinetree Drive is home to large, historical
waterfront estates originally built in the 1920s and 1930s. Sales of waterfront homes on these
elite streets more than doubled in 2010.
MIAMI BEACH
Indian CreekONE Sotheby’s International Realty had the listing of the only sale at Indian Creek in 2010 at 40 Indian Creek Drive, which was the highest sales on the island since 2007, selling for $9,300,000. At the time of publishing, only 5 homes were for sale, along with some residential lots. Our company is actively involved in many of the sales inside this private-access, waterfront community.
2009 7 $4,569,850 $3,300,000 -2010 15 $4,207,867 $3,500,000 -
Change 114% -8% 6%
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
Single Family Homes
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
Single Family Homes
2009 2 $7,500,000 $7,500,000 -2010 1 $9,300,000 $9,300,000 -
Change -50% 24% 24%
4580 N Bay Road, Miami BeachOffered at $16,900,000
17 Indian Creek Drive, Miami BeachOffered at $32,500,000
2 4 I T R E N D S
BAL HARBOUR GOLDEN BEACH BAY HARBOR ISLANDSAVENTURA SUNNY ISLES
North of Miami
17121 Collins Avenue #2401, Sunny IslesOffered at $1,650,000
T R E N D S I 2 5
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M
2009 78 $712,635 $525,000 -2010 122 $749,791 $447,450 -
Change 56% 5% -15%
2009 1 $3,175,000 $3,175,000 -2010 2 $2,575,000 $2,575,000 -
Change 100% -19% -19%
Bal HarbourBal Harbour best known for its high-end
shopping, gourmet dining and five-star luxury hotels, experienced a significant increase in the number of condo sales in 2010. Due to
the new construction closings, sales increased by more then 50% while pricing on the new
condos remained fairly consistent from 2009.
Bal Harbour
Non-Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 4 $1,263,334 $1,276,667 -2010 2 $2,250,000 $2,250,000 -
Change -50% 78% 76%
9999 Collins Avenue #8F, Bal HarbourOffered at $3,100,000
70 Camden DriveOffered at $3,988,888
O N E S O T H E B Y S R E A LT Y. C O M2 6 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
Golden BeachAlthough small in size, Golden Beach is
considered one of the most exclusive and prestigious addresses in South Florida. After
the neighborhood’s $14.5 million renovation in 2008, Golden Beach has become an attractive
location for buyers seeking luxury residences. In 2009 and 2010 there was a decrease in the
number of waterfront homes sold, however the number of transactions for non-waterfront
properties increased by 100%, coupled with a 78% increase in price. Golden Beach is still
known as the only community in South Florida with direct oceanfront residences.
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 3 $425,000 $425,000 33%2010 6 $756,667 $732,500 33%
Change 100% 78% 72%
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 11 $3,300,455 $3,000,000 9%2010 8 $2,406,500 $1,975,000 -
Change -27% -27% -34%
Non-Waterfront Properties
Waterfront Properties
Single Family Homes
Single Family Homes
Bay Harbor IslandsIn 2010, the introduction of bank-owned properties, which represented 14% of the sales, caused the Average Sales Price for waterfront single family homes to decrease by 67%. The Median Sales Price also decreased by 52%.
2009 6 $1,546,667 $1,280,000 -2010 7 $503,957 $620,000 14%
Change 17% -67% -52%
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of
REO Sales
Single Family Homes10350 W Bay Harbor Drive, Bay Harbor Islands
Offered at $357,000
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 2 7
I N D E P T H C O M M U N I T Y P R O F I L E S
AventuraAventura, widely known as the shopping
destination for both locals and international visitors, experienced a condo craze between 2004 and 2006. Now the city’s wide array of luxury high-rises controls the majority of the
housing market in Aventura. In 2009 and 2010, condo pricing remained fairly stagnant, there
were minor fluctuations in price per square foot, and the number of annual transactions
stayed the same throughout both periods.
Sunny IslesAlong the sandy, beautiful beaches of Sunny Isles, there are approximately 20 new developments, totaling 4,632 condo units, averaging $258 per square foot. In recent years, Sunny Isles Beach has become one of the most popular destinations among foreign buyers from Brazil, Canada, and Russia, to name a few. This neighborhood’s new developments currently offer the best values for oceanfront residences.
2009 661 $348,301 $285,000 -2010 670 $356,893 $267,750 -
Change 1% 2% -6%
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
Single Family HomesCondos
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of REO
2009 504 $439,918 $240,000 -2010 573 $434,608 $225,000 -
Change 14% -1% -6%
Condos
3000 Island Boulevard TS-3, AventuraOffered at $2,650,000
15901 Collins Avenue #3903, Sunny IslesOffered at $950,000
2 8 I T R E N D S
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
T R E N D S I 2 9
I N D E P T H C O M M U N I T Y P R O F I L E S
O N E S O T H E B Y S R E A LT Y. C O M
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 79 $1,578,872 $1,362,500 -2010 94 $1,828,667 $1,557,500 -
Change 19% 16% 14%
Condos(1M+)
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Non-Waterfront Properties
Single Family Homes (1M+)
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 25 $1,271,493 $1,250,000 -
2010 12 $1,368,975 $1,250,000 -Change -52% 8%
2009 2 $1,125,000 $1,250,000 -2010 1 $1,225,000 $1,250,000 -
Change -50% 9%
2009 46 $1,244,181 $1,125,000 -2010 42 $1,266,445 $1,150,000 -
Change -9% 2% 2%
OVERVIEW
Fort LauderdaleFort Lauderdale’s $1 Million+ non-waterfront properties experienced an overall decrease in sales last year. The number of transactions in non-waterfront homes and condos dropped by about 50% from 2009 to 2010, which could be due to the increased Average Sales Prices in both categories.
OVERVIEW
Fort LauderdaleKnown as the “Venice of America,”
Fort Lauderdale is great for those seeking both waterfront properties and a serene atmosphere.
Full of green, lush landscapes and beautiful waterfront scenery, the city is abundant in
culture, entertainment and plenty of history. Waterfront home sales saw a 19% increase from
2009 to 2010, with both Average and Median Sales Prices increasing. Waterfront condos did not fare as well in 2010, with a 9% decrease in
sales and a very small increase in sales price.
4 Isla Bahia Terrace, Fort LauderdaleOffered at $2,895,000
1516 Seabreeze Boulevard, Fort LauderdaleOffered at $1,490,000
O N E S O T H E B Y S R E A LT Y. C O M3 0 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
Waterfront Properties
Single Family Homes
Single Family Homes
Waterfront Properties
Single Family Homes
Single Family Homes
Harbor Beach is a luxury community located in southeast Fort Lauderdale. Residents enjoy waterfront properties with deep-water dockage and gorgeous dry lots. The community also offers upscale amenities, such as a private marina and the Harbor Beach Surf Club, which has 300 feet of private beach exclusively for residents to enjoy without the hassle of the usual beach crowds. Harbor Beach’s popularity truly showed in its numbers, with total waterfront sales doubling from 2009 to 2010.
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Waterfront Properties
Single Family Homes
Single Family Homes
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 7 $698,750 $648,750 29%2010 11 $309,668 $585,000 -
Change 57% -56% -10%
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 8 $1,880,065 $1,637,150 13%2010 16 $1,401,117 $1,063,750 6%
Change 100% -25% -35%
Non-Waterfront Properties
FORT LAUDERDALE
Harbor Beach
2009 7 $700,071 $590,000 -2010 13 $464,972 $394,750 -
Change 86% -34% -33%
2009 41 $1,771,778 $1,550,000 -2010 54 $1,527,562 $1,275,000 -
Change 32% -14% -18%
FORT LAUDERDALE
Las Olas IslesJust off Las Olas Boulevard, Las Olas
Isles offers its residents the ultimate luxury waterfront lifestyle. 2010 was a highly active
year for Las Olas Isles. Waterfront home sales increased by 32% and Average Sales Price
dropped 14%. Non-waterfront homes saw an even bigger boom last year - number of solds
increased by 86% and prices are down 34% from 2009. Seems like a great time to buy!
Waterfront Properties
Single Family Homes
Single Family Homes
Non-Waterfront Properties
27 Isla Bahia Drive, Fort LauderdaleOffered at $2,599,000
3 Pelican Isle, Fort LauderdaleOffered at $5,695,000
Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO Sales
2009 76 $751,598 $687,000 16%2010 68 $736,985 $618,000 13%
Change -11% -2% -10%
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO Sales
2009 56 $239,113 $227,500 16%2010 73 $292,484 $271,475 21%
Change 30% 22% 19%
Single Family Homes
Single Family Homes
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 3 1
I N D E P T H C O M M U N I T Y P R O F I L E S
FORT LAUDERDALE
Lighthouse PointThe historic Hillsboro Lighthouse stands sentinel over the inlet at Lighthouse Point. Bordered by both the intracoastal and the ocean, Lighthouse Point is home to gorgeous and manicured parks, making it ideal for joggers and bikers of all ages. Although the number of bank-owned waterfront sales decreased from 2009 to 2010, their low prices continued to pull down the Average and Median Sales Prices by 2% and 10%, respectively. Non-waterfront properties had in the area saw a much a stronger year, with Average Sales Price increasing by over 20% despite the number of bank-owned sales increasing 5%.
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Waterfront Properties
Single Family Homes
Single Family Homes
2009 7 $337,286 $354,000 -2010 2 $400,000 $400,000 -
Change -71% 19% 13%
2009 1 $550,000 $550,000 -2010 3 $1,383,333 $1,750,000 -
Change 200% 152% 218%
FORT LAUDERDALE
Lauderdale by the SeaSitting on a barrier island with Fort Lauderdale
a short distance to the east, Lauderdale by the Sea offers plenty of charm and easy
island living. Buyers took notice - Although the total number of waterfront homes sold
remained low, Average Sales Price increased by over 150%. Non-waterfront properties also
saw improvement, with Average Sales Price increasing by 19% despite the total number of
solds decreasing in 2010.
Non-Waterfront Properties
O N E S O T H E B Y S R E A LT Y. C O M3 2 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
Single Family Homes
Single Family Homes
Single Family Homes
Single Family Homes
Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 11 $972,219 $1,030,830 -2010 17 $1,350,333 $1,240,450 -
Change 55% 39% 20%
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 37 $470,853 $445,250 -2010 23 $387,767 $298,800 -
Change -38% -18% -33%
Single Family Homes
Single Family Homes
FORT LAUDERDALE
Rio VistaA luxurious community of 1,000 properties,
Rio Vista is among the oldest and most revered neighborhoods in Fort Lauderdale.
Homes boast manicured landscaping, winding sidewalks ideal for morning or evening walks,
and spectacular waterfront views. Spanish architecture and easy access to the Atlantic from waterfront homes make Rio Vista one
of the most desired areas in Fort Lauderdale -Sales of waterfront homes increased by 55%
and Average Sales Price is up 39%.
FORT LAUDERDALE
Hillsboro BeachExtending 3.2 miles from the Hillsboro Inlet, Hillsboro Beach is bordered by Atlantic Ocean to the east and the Intracoastal Waterway to the west. Although a haven for the avid boater, Hillsboro Beach saw little activity in 2010, with only 2 waterfront sales and an over 50% decrease in Average Sales Price.
2009 1 $5,500,000 $5,500,000 -2010 2 $2,540,000 $6,350,000 -
Change 100% -54% 15%
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% ofREO
Single Family Homes
1716 Southeast 9 Street, Fort LauderdaleOffered at $3,195,000
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 3 3
I N D E P T H C O M M U N I T Y P R O F I L E S
Waterfront Properties
Single Family Homes
Single Family Homes
Waterfront Properties
Single Family Homes
Single Family Homes
Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 1 $500,000 $500,000 -2010 1 $955,000 $955,000 -
Change - 91% 91%
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 38 $399,281 $337,500 18%2010 46 $300,546 $280,000 15%
Change 21% -25% -17%
Single Family Homes
Single Family Homes
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 15 $566,676 $467,250 27%2010 10 $530,698 $559,950 30%
Change -33% -6% 20%
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 25 $953,176 $809,875 16%
2010 19 $1,179,335 $883,750 16%Change -24% 24% 9%
Non-Waterfront Properties
FORT LAUDERDALE
Victoria ParkTucked away in downtown Fort Lauderdale, the
elegant and charming Victoria Park is a lively community that has maintained its Floridian
charm. Centrally located near the Isles of Las Olas, Intracoastal Waterway, Middle River and
Federal Highway, Victoria Park is close to it all. The number of sales of waterfront homes
remains consistent year over year, with only one home sold in both 2009 and 2010. For
non-waterfront homes, a 25% drop in Average Sales Price created a favorable buyers’ market
and, consequently, a 21% increase in number of solds in 2010.
FORT LAUDERDALE
Fort Lauderdale BeachFort Lauderdale Beach is the ideal place for those seeking both the recreation of a seaside community and the hustle and bustle of an urban city. Although the total number of waterfront homes sold in 2010 decreased by 24%, Average Sales Price increased by 24% despite the percentage of bank-owned properties remaining the same both years.
Waterfront Properties
Single Family Homes
Single Family Homes
2760 N Atlantic Boulevard, Fort LauderdaleOffered at $5,495,000
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 47 $1,033,767 $706,500 9%2010 43 $608,213 $558,757 14%
Change -9% -41% -21%
Condos
# of Transactions
AverageSales Price
MedianSales Price
% of REO
Non-Waterfront Properties
SingleFamily Homes
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 219 $242,547 $202,500 31%2010 249 $211,255 $183,750 27%
Change 14% -13% -9%
2009 46 $167,672 $144,058 43%2010 71 $148,030 $120,000 34%
Change 54% -12% -17%
2009 814 $242,548 $183,000 27%2010 920 $248,779 $186,250 24%
Change 13% 3% 2%
FORT LAUDERDALE
Hollywood Beach,Hallandale BeachNon-waterfront homes and condos of Hollywood and Hallandale Beach saw an overall increase in number of solds from 2009 to 2010. However, with bank-owned properties still making up a sizeable percentage of solds, Average Sales Prices continued to decrease. Condos saw the greater jump in number of transactions, with a 54% increase versus single family homes increasing by a mere 14%.
FORT LAUDERDALE
Hollywood Beach,Hallandale Beach
Hollywood Beach embodies classic beach town charm. Perhaps the most popular attraction
is the Hollywood Boardwalk, a go-to spot for locals looking for entertainment. Residents
of Hallandale Beach like to unwind at the Village of Gulfstream, where shopping, dining,
and gambling, horse racing and dancing are available in one place. An increased number of bank-owned property sales took a toll on waterfront homes in 2010, pulling Average
Sales Price down by 41%. Waterfront condos saw a 13% increase in number of solds last year, with a marginal increase in Average Sales Price.
O N E S O T H E B Y S R E A LT Y. C O M3 4 I T R E N D S
I N D E P T H C O M M U N I T Y P R O F I L E S
5411 Shady Oaks Lane, HollywoodOffered at $599,000
1110 Hatteras Lane, HollywoodOffered at $2,950,000
O N E S O T H E B Y S R E A LT Y. C O M T R E N D S I 3 5
I N D E P T H C O M M U N I T Y P R O F I L E S
Non-Waterfront Properties
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 75 $480,378 $417,500 7%2010 75 $455,335 $384,375 9%
Change -5% -8%
# of Transactions
AverageSales Price
MedianSales Price
% of REO
2009 70 $915,935 $713,750 9%2010 60 $774,860 $545,000 8%
Change -14% -15% -24%
Non-Waterfront Properties
FORT LAUDERDALE
Coral Ridge, The LandingsNear the center of downtown Fort Lauderdale, Coral Ridge offers gorgeous homes with stunning Intracoastal Waterway views. With its very own golf and country club, Coral Ridge is the perfect place for a golf enthusiast to call home. Located a short distance from Coral Ridge is The Landings, home to a flourishing boating community just minutes from both the golf course and the beaches. Both areas saw a general decrease in market activity, with a 14% decrease in number of waterfront homes sold in 2010. The number of non-waterfront homes sold remained the same for 2009 and 2010, but the 2% increase in bank-owned properties sold led to a 5% decrease in Average Sales Price.
Waterfront Properties
Single Family Homes
Single Family Homes
2009 2 $1,949,500 $1,949,500 -2010 0 0 0 -
Change
Waterfront Properties# of
TransactionsAverage
Sales PriceMedian
Sales Price% of
REO Sales
Single Family Homes
FORT LAUDERDALE
Bay ColonyThis guard-gated waterfront community is
among the most exclusive in Fort Lauderdale. With 24-hour security, Bay Colony is home
to magnificent waterfront properties and peaceful, tree-lined streets. There was no
market activity in Bay Colony in 2010.
500 Isle of Capri Drive, Fort LauderdaleOffered at $1,295,000
4211 Northeast 25 Avenue, Coral RidgeOffered at $3,100,000
The Residences at W South BeachFrom $660,000 to $6,500,000
This 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. ©MMXI Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated.
Beth ButlerONE Sotheby’s International Realty+1 305 666 [email protected]
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