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The Elliman Report: 4Q-2013 Miami Beach Islands Prepared by Miller Samuel Real Estate Appraisers

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The Elliman Report: 4Q-2013 Miami Beach Islands Prepared by Miller Samuel Real Estate Appraisers submarket: MIAMI BEACH ISLANDS, FLORIDA MIAMI BEACH ISLANDS: MEDIANQuarterly SALES Survey PRIC of MiamiE BeachActual Islands SingleRolling Family (9 Home months) Sales 4Q-2013 $7,000,000 $5,600,000 $4,200,000 MIAMI BEACH ISLANDS: MEDIAN SALES PRICE Actual Rolling (9 months) $2,800,000 MIAMI$7,000,000 BEACH ISLANDS: MEDIAN SALES PRICE Actual Rolling (9 months) $1,400,000 $5,600,000$7,000,000MIAMI BEACH ISLANDS: MEDIAN SALES PRICE Actual Rolling (9 months) Average Price$0 per Sq Ft 09 10 $4,200,000$5,600,000$7,000,000 11 12 13 $4,200,000 $1,450,000 $2,800,000$5,600,000 $1,400,000$2,800,000$4,200,000 MIAMI BEACH ISLANDS: DAYS ON MARKET Actual Rolling (9 months) $1,400,000$2,800,000$0 -49.8% year-over-year (actual) 09 10 11 12 13 100 $0 $1,400,000 09 10 11 12 13 80 30.1% 3-year (rolling) $0 09 10 11 12 13 60 MIAMI BEACH ISLANDS: DAYS ON MARKET Actual Rolling (9 months) 40 MIAMI100 BEACH ISLANDS: DAYS ON MARKET Actual Rolling (9 months) Days on Market (From Last List Date) 20 MIAMI10080 BEACH ISLANDS: DAYS ON MARKET Actual Rolling (9 months) 0 69 days 09 10 1006080 11 12 13 406080 -6.3% year-over-year (actual) 204060 MIAMI BEACH ISLANDS: LISTING DISCOUNT Actual Rolling (9 months) 20400 35% 09 10 11 12 13 10.7% 3-year (rolling) 200 28% 09 10 11 12 13 0 21% 09 10 11 12 13 MIAMI BEACH ISLANDS: LISTING DISCOUNT Actual Rolling (9 months) Listing Discount14% (From Last List Price) MIAMI35% BEACH ISLANDS: LISTING DISCOUNT Actual Rolling (9 months) 7% 35% 11.9% MIAMI28% BEACH ISLANDS: LISTING DISCOUNT Actual Rolling (9 months) 0% 09 10 21%28%35% 11 12 13 6.2% year-over-year (actual) 14%21%28% 14%21%7% 7% -52.3% 3-year (rolling) 14%0% 09 10 11 12 13 0%7% 09 10 11 12 13 Miami Islands Single Family Matrix 4Q-2013 %Chg (QRT) 3Q-2013 %Chg (YR) 4Q-2012 0% 09 10 11 12 13 Average Sales Price $2,0 57,273 -6.8% $2,207,9 82 -37.6% $3,299,538 Average Price per Sq Ft $667 3.3% $646 -24.2% $880 Median Sales Price $1,450,000 -7.3% $1,565,000 -49.8% $2,886,500 Cash Number of Sales (Closed) 11 -21.4% 14 - 57.7% 26 45.5% Days on Market (From Last List Date) 60 -16.7% 72 -6.3% 64 Mortgage Listing Discount (From Last List Price) 11.9% 12.6% 11.2% 54.5% Listing Inventory (active) 83 N/A N/A N/A N/A Absorption RateCash (mos) 22.6 N/A N/A N/A N/A Average Sq45.5% CashFt 3,084 -9.7% 3,417 -17.8% 3,752 Mortgage Real Estate45.5% Taxes/Sq Ft /Month $1,545 15.4% $1,339 -43.6% $2,738 Cash Mortgage54.5% 45.5% 54.5%Note: This region includes Hibiscus Island, Indian Creek, La Gorce Island, Pinetree Drive, Palm Island, Star Island and the Venetian Islands. Mortgage 54.5% Douglas Elliman Real Estate: 444 East Palmetto Park Rd, Ste B, Boca Raton, 33432 / 561.245.2635 / elliman.com; Miller Samuel Inc. Real Estate Appraisers & Consultants: 21 West 38th St, NY, NY 10018 / 212.768.8100 / millersamuel.com PREPARED BY MILLER SAMUEL INC. APPRAISAL AND CONSULTING SERVICES ©2014 Douglas Elliman LLC and Miller Samuel Inc. All worldwide rights reserved. For more information or electronic copies of this report please visit elliman.com/marketreports Email report author Jonathan J. Miller at [email protected] with questions or comments. Methodology: http://www.millersamuel.com/research-reports/methodology © 2014 DOUGLAS ELLIMAN REAL ESTATE. ALL MATerIAL PreSENTed HereIN IS INTENded FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVed TO BE COrreCT, IT IS rePreSENTed SUBJECT TO errORS, OMISSIONS, CHANGES OR WITHdrAWAL WITHOUT NOTICE. ALL PROPerTY INFORMATION, INCLUDING, BUT NOT LIMITed TO SQUAre FOOTAGE, ROOM COUNT, NUMBer OF BedrOOMS AND THE SCHOOL DISTRICT IN PROPerTY LISTINGS Are deeMed reLIABLE, BUT SHOULD BE VerIFIed BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPerT. EQUAL HOUSING OPPORTUNITY..
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