The real numbers for the first quarter are in and they all point to real recovery. The latest issue of TRENDS ‘1st Quarter 2013 Update’ offers a comprehensive analysis of the activity in Miami-Dade and Broward counties from January through March. Overall sales continue to increase along with prices, which rose an average of 13.7%. Inventory continues to be absorbed quickly in both counties and there has been an 18% decrease in the number of properties for sale compared to the first quarter in 2012.
In the luxury sector of Miami-Dade, sales of properties in the $1-$5 million rage showed a 30% increase. Condos also did well, and now the average price per square foot is averaging $721. Condos in Coconut Grove, Miami and Brickell continue to sell, and Aventura has the most condo units closed with a 72.7% increase in sales over last year. Broward’s $1 million – $5 million condo sector had an extremely significant rise with an 85.7% increase in sales.
Overall both the Miami-Dade and Broward markets continue to show stability with the majority of higher priced sales in cash. International buyers are still strong but we have recently seen the return of the working wealthy start to make investments.
This year ONE Sotheby’s International Realty was the official Fort Lauderdale and Miami real estate sponsor of the Sony Open Tennis Tournament that takes place every March in Key Biscayne. For two weeks our agents greeted tennis fans from around the world in a luxurious air-conditioned tent that was decorated with displays of the top real estate listings in South Florida. With thousands of visitors attending the tournament from all around the world, it was the perfect opportunity to connect and create relationships with potential buyers and sellers.
Throughout the entire event our brokers were on hand to explain to guests about the positive shift in the Miami real estate market as well as real estate market in South Florida and they also had the chance to meet with other agents from Sotheby’s International Realty affiliate offices in Aspen and Turks and Caicos. Stephan Burke, a ONESir Broker, was approached by a buyer interested in purchasing a $20million+ home close to the Coconut Grove area that conveniently walked over to the tent and got more information about current listings. Another agent, Patrick Vysata, met a lady from France that has just sold her villa with the Sotheby’s Realty affiliate in the region and would be interested in purchasing a second property in South Florida soon. Our agents said that many visitors were interested in our developments including Cielo on the Bay, 1000 Museum, Altos Del Mar and Bellini Williams Island.
Overall it was an exciting two weeks filled with the best of tennis and real estate. We are already looking forward to next year’s event and have been cultivating the leads we made!
ONE Sotheby’s Agents Raymond Bolduc and Miriam Poggio visited Argentina to showcase the best South Florida properties to local brokers and real estate investors. They shared information and materials on our latest condo developments that include Cielo on the Bay and Altos del Mar as well as exquisite waterfront estates and penthouses.
Latin Americans, including Argentines, Brazilians and Venezuelans have helped the rebound of the South Florida real estate market by purchasing second and third homes for investment purposes. At ONE Sotheby’s one of our main marketing initiatives is interacting with these investors to show them the opportunities in the area and get them interested in what South Florida has to offer.
Our agents have more international trips in the coming months, stay tuned!
Our Agents set up brochures and marketing materials for their presentation in Argentina.
Once a year, Crandon Park is taken over by tennis elite and we will be right in the middle of the action! The Sony Open is one of the world’s most competitive and prestigious professional tennis tournaments and One Sotheby’s is honored to be a sponsor of this year’s twelve-day event. The festivities begin on March 18th and a crowd of over 300,000 is expected to be in attendance.
With tennis pros like Serena Williams, Novak Djokovic, Andy Murray, Maria Sharapova and Rafael Nadal participating, the matches are sure to be some of the best yet this year. 96 men and 96 women in singles matches and 32 men and 32 women in doubles matches will compete for this incredible title. The Sony Open has been named “Tournament of the Year” nine out of the past 13 years by the ATP and this year should prove to be just as thrilling. The event has grown since its birth 1985 into a series of matches, musical performances and parties. Make sure to stop by the ONE Sotheby’s International Realty booth to learn about amazing opportunities Miami real estate has to offer, when you visit the tournament!
The Today Show visited Miami for a live show that featured the best of our city. From fashion to cuisine to real estate, Al Roker and crew took a tour around Miami to show America what it’s all about. ONE Sotheby’s Realty CEO Mayi de la Vega made an appearance on one of the highlighted segments to talk about the area’s real estate recovery and the hottest luxury properties live from a listing in Brickell.
It was great to show the rest of the America the potential of Miami and prove that it’s grown into a cultural hub where artists, entrepreneurs, and new business are flocking to every day. It’s more than a beach town and on par with NYC, LA, Chicago and other major cities.
Many thanks to Mayi for showing the best that we have to offer! It was a job well done!
Click here to watch the video from The Today Show
Cielo on the Bay, North Bay VIllage’s exclusive condominium tower, debuted its new Model Unit #704 with an evening cocktail event for Miami’s top realtors. The unit, designed by renown interior design firm Steven G, has sophisticated flair with a modern twist. Finishes and furnishings were selected to carefully reflect the luxury lifestyle that each unit at Cielo on the Bay offers, as well as utilizing the space in a practical way. The color scheme features neutral tones with touches of warm hues in the accessories and lighting elements. Like all the units at Cielo on the Bay, this one has unobstructed waterfront views and access to the building’s luxury amenities, which include a rooftop pool, spa and fitness room.
For more information on opportunities at Cielo On The Bay click here.
At One Sotheby’s International Realty we always strive for the best. Whether it’s providing the latest resources and tools for our agents or exposing our area’s real estate opportunities to the rest of the world, our priority as a company is to always be on top of the luxury market with the best service and professionalism. Our strength is in our agents and we are proud to announce that 4 of South Florida’s top selling real estate brokers/teams are under the ONE Sotheby’s umbrella. Combined they each sold millions of dollars worth of luxury properties in 2012 and we look forward to seeing even more success for 2013.
Here’s a look at who they are:
Mayi de la Vega: The mastermind behind ONE Sotheby’s, Mayi has built her career on selling multi-million dollar homes throughout Miami. 2012 was no different and the influx of international buyers looking to invest definitely led to some of the highest sales of the year.
Jorge Uribe: Specializes in Coconut Grove, Key Biscayne, Miami, Miami Beach and Fisher Island. Sold one of the highest priced properties in Miami-Dade County in 2012
Eloy Carmenate: Specializes in Miami Beach luxury real estate. With an office right on Ocean Drive, he has his pulse on the ever changing real estate market in the area.
The Coto Team: This father, daughter and son team focuses on Key Biscayne. For years they have been selling the areas most luxurious homes and they broke records in 2012.
The Real Estate Industry’s top movers and shakers gathered in NYC for Real Estate Connect presented by Inman News. The three -day conference was packed with informative sessions that covered every aspect of the real estate business with a focus on technology and innovation. ONE Sotheby’s International Realty’s Director of Sales and Brand Experience, Janie Coffey, attended Real Estate Connect and participated in a panel in front of hundreds of leaders and agents from around the country.
The main theme of the conference was achieving the “Latte Vision”, which is delivering a consistent, convenient, fast and digital transaction to every buyer and seller you come across. Similar to the experience that consumers get at Starbucks, “Latte Vision” encourages agents to keep pushing the industry forward by offering consistent service and using digital tools that are fast and get results. Panelist Pete Flint, CEO and co-founder of Trulia, had sound advice for realtors that want to achieve the Latte Vision: “Focus less on a detailed business plan and more on developing something real to show potential investors that reveals a major consumer insight and does something tangible and clear.”
To read more about “The Latte Vision” panel visit Inman News:
You can watch the entire presentation here and get ideas on how to implement “The Latte Vision” to improve your business and provide a seamless service to every client:
You can also join the Latte Vision Facebook Group to connect with other realtors working towards the same goal: Latte Vision Facebook Group
Artist Michel Boutbol showcased his work at a private event at Altos Del Mar for a group of Russian clients. Guests enjoyed cocktails, lite bites and a presentation by Boutbol of his contemporary works that span over a quarter century. They also had the opportunity to tour the Altos Del Mar residence and experience the community’s luxury amenities and resort lifestyle.
Art by Michel Boutbol
Born in France, artist Michel Boutbol’s art graces many of South Florida’s most distinguished estates. His works are highly realistic and reflect the natural expression of the subconscious mind. His presentation focused on his influences and the inspiration in his works.
Art by Michel Boutbol at Altos Del Mar
At ONE Sotheby’s our global network allows us connect with clientele from all around and showcase the real estate potential in South Florida. We look forward to hosting similar events throughout the year.
In Miami, Art Basel is the most anticipated time of the year because it brings the best art exhibitions and events to the city. Art collectors, VIPs, celebrities and the who’s who of the world flock to Miami Beach, the Design District, Wynwood and Downtown to attend the most extravagant and exciting events and browse coveted art by the top painters, sculptors and photographers.
The main Art Basel exhibition takes place at the Miami Beach Convention Center and there are countless other satellite fairs around town that worth checking out. ONE Sotheby’s International Realty has put together a helpful interactive map to navigate to through the various fairs. Use the map to get more information about 22 different exhibits and make the most of your Art Basel experience. Some not to be missed stops include Design Miami, Fountain Art Fair, Pulse Miami, Red Dot, Verge Art Miami Beach and the NADA Art Fair, among others.
Also, make sure to include a stop at the ONE CIFO Project on your list, located at the ONE Sotheby’s Miami Beach office. This collection of artwork by contemporary Latin American Artists is an ongoing collaboration with CIFO (Cisneros Fontanals Art Foundation) that is presenting their third major exhibition.
Visit the map here: Art Basel Interactive Map