Embed Size (px)
DESCRIPTION
Claris Realty 2010 Review of South Florida Real Estate
Citation preview
ww
w.C
lar
isR
ea
lty
.c
om
Claris Realty South Florida
Market Overview 2010
2 0 1 0 IN REVIEW
Looking back on 2010, “cautiously optimistic” comes
to mind. We were 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. Broward is also up. The
inventory of properties over $1 Million in Broward
County has dropped from a four-year supply in
December of 2009 to a no current 22-month supply.
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. Value is building and prices are improving in
Downtown Miami. It is a thriving residential
neighborhood.
I am excited to share with you my annual market
report that provides an analysis of real estate market
activity in Miami-Dade.
II eexxppeecctt 22001111 ttoo bbee eevveenn bbeetttteerr tthhaann 22001100!!
Jean Marie Echemendia Claris Realty Advisors
786.353.4050
ww
w.C
lar
isR
ea
lty
.c
om
Key Observations
What were buyers looking for? Besides good value, location was important.
South Florida has an abundance of sun and coastal waterfront.
IInn SSoouutthh FFlloorriiddaa,, aa ssttaaggggeerriinngg 7733%% ooff ssaalleess oovveerr $$11 mmiilllliioonn wweerree
oonn wwaatteerrffrroonntt pprrooppeerrttiieess iinn 22001100..
ww
w.C
lar
isR
ea
lty
.c
om
221100
That’s the number of homes
over $1Million that have
already closed in 2011 or are
pending a closing in Miami
Dade County.
114488 The number of condos over
$1Million that have closed in
2011 or are pending a closing,
not including sponsor owned
units in new construction
offerings.
WWaatteerrffrroonntt hhoommeess oonn MMiiaammii BBeeaacchh ccoonnttiinnuuee ttoo iimmpprreessss.. ““NNoorrtthh BBaayy RRooaadd hhaass
aallwwaayyss oouutt ppeerrffoorrmmeedd eevveerryy ootthheerr wwaatteerrffrroonntt nneeiigghhbboorrhhoooodd iinn MMiiaammii BBeeaacchh””
aaccccoorrddiinngg ttoo TThhee DDaaiillyy BBuussiinneessss RReevviieeww,, JJaannuuaarryy 22001111..
NNoottaabbllee 22001100
SSaalleess:: 8888 LLaa GGoorrccee -- $$1166,,000000,,000000
22006600 NN BBaayy RRdd --$$1133,,449999,,000000
66339966 NN BBaayy RRdd --$$1122,,333333,,000000
5555 PPaallmm IIssllaanndd --$$1111,,995500,,000000
55998800 NN BBaayy RRdd --$$1100,,664455,,000000
22004466 NN BBaayy RRdd --$$ 99,,775500,,000000
55331100 NN BBaayy RRdd --$$ 99,,110000,,000000
JJeeaann MMaarriiee EEcchheemmeennddiiaa
CCllaarriiss RReeaallttyy AAddvviissoorrss
778866..335533..44005500
1100
ULTRA LUXURY
The number of single family
homes sold over $10 Million
in 2010
ww
w.C
lar
isR
ea
lty
.c
om
ww
w.C
lar
isR
ea
lty
.c
om
ww
w.C
lar
isR
ea
lty
.c
om
ww
w.C
lar
isR
ea
lty
.c
om
ww
w.C
lar
isR
ea
lty
.c
om
ww
w.C
lar
isR
ea
lty
.c
om
ww
w.C
lar
isR
ea
lty
.c
om
ww
w.C
lar
isR
ea
lty
.c
om
Jean Marie Echemendia
Claris Realty Advisors
786.353.4050
Licensed Real Estate Brokerage
Miami Beach / New York City
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
changes, or withdrawal without notice. This brochure is not meant to solicit currently listed properties. Equal Housing Opportunity.
