A look at the state of the real estate market in the south part of Coral Gables and Ponce-Davis/High Pines areas of Miami. Brought to you by Lowell International Realty
2
WE’VE SOLD THOUSANDS OF HOMES THROUGHOUT SOUTH FLORIDA Let us sell yours. Market Update $ 500K $ 999K $ 1 mill $ 2.49 mill $ 2.5 mill $ 4.9 mill $ 10 mill $ 14.9 mill $ 5 mill $ 9.9 mill $ 15 mill+ 0.02 0.04 0.11 0.27 0.34 0.22 0.01 0.02 0.20 0.41 0.36 WHAT IS SELLING VS WHAT IS FOR SALE (SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR) It has certainly been a news-worthy year in real estate in South Florida. Overall in Miami-Dade, sales are up. 2010 marked the highest number of home sales since 2005, but prices are down across the board to levels not seen since 2002. While you have probably heard all of this news before, you may not know what is happening where you live. The South Gables / Ponce-Davis luxury corridor encompasses some of the most desirable real estate in South Florida and does not necessarily follow the overall county-wide trends. As you can see from Table 2, sales are up, but not as dramatically as in Miami-Dade county as a whole due to a far lower number of foreclosures and short sales – a particularly hot commodity elsewhere in the county. A total of 8% of sales in your area so far in 2010 were short sales or foreclosures compared to an incredible 59% of the sales overall in Miami-Dade County. While pricing has seemed to plateau in the past year, we do expect a continued dip in the $5 million-and-over market. Pricing in this über-luxury price point has already dropped close to last year’s selling point as seen in Table 3. S OUTH GABLES L UXURY E DITION JANUARY 2011 A MARKET Update MARKET Hotspots Lowell International Realty is a boutique family-owned brokerage offering customized service with the focus always staying where it belongs – on you, the client, and your home. Having worked in real estate sales and development for over 15 years, I bring to my clients a wealth of experience in contract negotiations, sales and marketing.We pride ourselves on going the extra mile to create polished and informative marketing materials for your home that make your property stand out from the crowd. Our state-of-the-art marketing platform then takes those materials and syndicates them far and wide so that your home gets local and international exposure. Lani Kahn Drody • Over 15 years experience marketing, negotiating, and selling real estate in South Florida • Over a half billion of residential real estate sold in South Florida • Member of the Master Brokers Forum of Miami-Dade • Past-President of the Builders Association of South Florida LANI KAHN DRODY BrOker | President 305.216.1550 sOUtH GABLes / POnCe-dAVis LUXUrY COrridOr sHOwn On ALL GrAPHs A Message FROM 305.577.8550 | www.lowellinternationalrealty.com 300 350 400 450 500 2006 2007 2008 2009 2010 AVERAGE PRICE-PER- SQUARE-FOOT OF HOMES SOLD 2006–2010 105.00 123.75 142.50 161.25 180.00 2006 2007 2008 2009 2010 NUMBER OF SINGLE FAMILY HOMES SOLD 2006–2010 $ 500K $ 999K $ 1 mill $ 2.49 mill $ 2.5 mill $ 4.9 mill $ 5 mill $ 9.9 mill $ 839 $ 833 $ 593 $ 527 $ 453 $ 339 $ 305 $ 276 AVERAGE SOLD VS. LIST PRICE/SQ FT BY PRICE BAND IN 2010 tABLe 1 tABLe 2 tABLe 3 AVerAGe sOLd PriCe/sQ Ft Ytd AVerAGe PriCe/sQ Ft OF PrOPerties CUrrentLY Listed % OF sALes Ytd % OF tOtAL CUrrent ListinGs PLEASE CALL ME ANY TIME IF YOU HAVE QUESTIONS ABOUT SELLING OR PURCHASING A HOME IN SOUTH FLORIDA.
Transcript
We’ve sold thousands of homes throughout south florida Let us sell yours.
Market Update
300
350
400
450
500
2006 2007 2008 2009 2010
AVERAGE PRICE-PER-SQUARE-FOOT OF
HOMES SOLD 2006–2010
105.00
123.75
142.50
161.25
180.00
2006 2007 2008 2009 2010
NUMBER OF SINGLEFAMILY HOMES SOLD
2006–2010
$500K$999K
$1 mill$2.49 mill
$2.5 mill$4.9 mill
$5 mill$9.9 mill
$839$833
$593$527
$453
$339$305$276
AVERAGE SOLD VS.
LIST PRICE/SQ FTBY PRICE BAND IN 2010
(SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR)
$500K$999K
$1 mill$2.49 mill
$2.5 mill$4.9 mill
$10 mill$14.9 mill
$5 mill$9.9 mill
$15 mill+
0.020.04
0.11
0.27
0.34
0.22
0.010.02
0.20
0.410.36
WHAT IS SELLING VS WHAT IS FOR SALE (SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR)
It has certainly been a news-worthy year in real estate in South Florida. Overall in Miami-Dade, sales are up. 2010 marked the highest number of home sales since 2005, but prices are down across the board to levels not seen since 2002. While you have probably heard all of this news before, you may not know what is happening where you live.
The South Gables / Ponce-Davis luxury corridor encompasses some of the most desirable real estate in South Florida and does not necessarily follow the overall county-wide trends. As you can see from Table 2, sales are up, but not as dramatically as in Miami-Dade county as a whole due to a far lower number of foreclosures and short sales – a particularly hot commodity elsewhere in the county. A total of 8% of sales in your area so far in 2010 were short sales or foreclosures compared to an incredible 59% of the sales overall in Miami-Dade County. While pricing has seemed to plateau in the past year, we do expect a continued dip in the $5 million-and-over market. Pricing in this über-luxury price point has already dropped close to last year’s selling point as seen in Table 3.
South GableS luxury edition
j a n ua ry 2011
A MArket Update
MArket Hotspots
Lowell International Realty is a boutique family-owned brokerage offering customized service with the focus always staying where it belongs – on you, the client, and your home. Having worked in real estate sales and development for over 15 years, I bring to my clients a wealth of experience in contract negotiations, sales and marketing. We pride ourselves on going the extra mile to create polished and informative marketing materials for your home that make your property stand out from the crowd. Our state-of-the-art marketing platform then takes those materials and syndicates them far and wide so that your home gets local and international exposure.
Lani Kahn Drody
• Over 15 years experience marketing, negotiating, and selling real estate in South Florida
• Over a half billion of residential real estate sold in South Florida
• Member of the Master Brokers Forum of Miami-Dade
• Past-President of the Builders Association of South Florida
L A N I K A H N D RO DYBrOker | Pres ident
3 0 5 . 2 1 6 . 1 5 5 0
sOUtH GABLes / POnCe-dAVis LUXUrY COrridOr sHOwn On ALL GrAPHs
A Message FrOM
305.577.8550 | www.lowellinternationalrealty.com
300
350
400
450
500
2006 2007 2008 2009 2010
AVERAGE PRICE-PER-SQUARE-FOOT OF
HOMES SOLD 2006–2010
105.00
123.75
142.50
161.25
180.00
2006 2007 2008 2009 2010
NUMBER OF SINGLEFAMILY HOMES SOLD
2006–2010
$500K$999K
$1 mill$2.49 mill
$2.5 mill$4.9 mill
$5 mill$9.9 mill
$839$833
$593$527
$453
$339$305$276
AVERAGE SOLD VS.
LIST PRICE/SQ FTBY PRICE BAND IN 2010
(SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR)
$500K$999K
$1 mill$2.49 mill
$2.5 mill$4.9 mill
$10 mill$14.9 mill
$5 mill$9.9 mill
$15 mill+
0.020.04
0.11
0.27
0.34
0.22
0.010.02
0.20
0.410.36
WHAT IS SELLING VS WHAT IS FOR SALE (SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR)
300
350
400
450
500
2006 2007 2008 2009 2010
AVERAGE PRICE-PER-SQUARE-FOOT OF
HOMES SOLD 2006–2010
105.00
123.75
142.50
161.25
180.00
2006 2007 2008 2009 2010
NUMBER OF SINGLEFAMILY HOMES SOLD
2006–2010
$500K$999K
$1 mill$2.49 mill
$2.5 mill$4.9 mill
$5 mill$9.9 mill
$839$833
$593$527
$453
$339$305$276
AVERAGE SOLD VS.
LIST PRICE/SQ FTBY PRICE BAND IN 2010
(SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR)
$500K$999K
$1 mill$2.49 mill
$2.5 mill$4.9 mill
$10 mill$14.9 mill
$5 mill$9.9 mill
$15 mill+
0.020.04
0.11
0.27
0.34
0.22
0.010.02
0.20
0.410.36
WHAT IS SELLING VS WHAT IS FOR SALE (SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR)
300
350
400
450
500
2006 2007 2008 2009 2010
AVERAGE PRICE-PER-SQUARE-FOOT OF
HOMES SOLD 2006–2010
105.00
123.75
142.50
161.25
180.00
2006 2007 2008 2009 2010
NUMBER OF SINGLEFAMILY HOMES SOLD
2006–2010
$500K$999K
$1 mill$2.49 mill
$2.5 mill$4.9 mill
$5 mill$9.9 mill
$839$833
$593$527
$453
$339$305$276
AVERAGE SOLD VS.
LIST PRICE/SQ FTBY PRICE BAND IN 2010
(SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR)
$500K$999K
$1 mill$2.49 mill
$2.5 mill$4.9 mill
$10 mill$14.9 mill
$5 mill$9.9 mill
$15 mill+
0.020.04
0.11
0.27
0.34
0.22
0.010.02
0.20
0.410.36
WHAT IS SELLING VS WHAT IS FOR SALE (SOUTH GABLES/PONCE-DAVIS LUXURY CORRIDOR)
tABLe 1 tABLe 2 tABLe 3
AVerAGe sOLd PriCe/sQ Ft YtdAVerAGe PriCe/sQ Ft OF PrOPerties CUrrentLY Listed
% OF sALes Ytd% OF tOtAL CUrrent ListinGs
PLease caLL me any tIme If yOu Have questIOns abOut seLLIng OR PuRcHasIng
a HOme In sOutH fLORIda.
P R S RT S T DU.s. POstAGeP A I DM I A M I , F LPerMit #3203
LOweLL internAtiOnAL reALtY is a unique full-service luxury real estate brokerage firm. we appreciate that buying and selling a home is more than just an exchange of property. it is a significant investment in the future and a complex transaction for buyers and sellers alike. Our business is dedicated to taking care of all of our clients’ needs to ensure confidence, comfort and total satisfaction.
with nearly fifty years of south Florida real estate and development experience between them, company founders Lani kahn drody and Larry Kahn have developed all levels of residential real estate. From moderately priced townhomes to multi-million dollar luxury estates, the Kahns bave built and sold more than a half billion dollars of residential real estate in South Florida.
In 2009 90% of buyers looked for homes on the internet and 35% of buyers actually found the home they bought online. At Lowell International Realty, we have developed a sophisticated marketing platform to make your home shine on the internet. In addition to our deep market knowledge, vast (and personal) global network and extensive sales and marketing experience, our focus on technology means that if you list your home with us, it will get the attention it deserves – from the world.
C A r r i e C A U s e Y F O Ot eMArketinG direCtOr reALtOr AssOCiAte (drOdY teAM)
7 8 6 . 8 3 7 . 3 9 8 7
A Message FrOM
AbOut Us
The information contained herein, while not guarenteed, has been secured from sources we believe to be reliable. However, this offering is subject to verification by the purchaser, and the broker assumes no responsibility for corrections thereof. If your property is currently listed with a real estate broker, this is not to be meant as a solicitation.
80 sw 8tH street, sUite 1870 | MiAMi, FL 33130
305.577.8550 | www.lowellinternationalrealty.com
The following is a recap of real estate activity in a variety of neighborhoods in the South Gables/Ponce-Davis luxury corridor. If you don’t see your area listed, give us a call. We’d love to answer any questions you may have.
