Sunny Isles Beach (2008 year-end) Waterfront Condo Trends

Hello friends. Today, I wanted to relay the Sunny Isles Beach (2008 year-end) Waterfront Condo Trends showed for the zip code 33160, including Sunny Isles Beach and Aventura waterfront condos. These figures are based on a 12-month and 15-month snapshot ending December 31, 2008.

{Sunny Isles Beach 2008 Criteria: 33160, Waterfront Condos encompassing all price ranges} Sunny Isles Beach 2008 Inventory

1 year 15 months
Dec 07 Dec 08 % Change Oct 07 Dec 08 % Change
For Sale 2014 1878 -6.8% 2111 1878 -11%
Sold 33 45 36.4% 39 45 15.4%
Pended 42 54 28.6% 41 54 31.7%

Sunny Isles Beach 2008 Condo Inventory

It appears that for 2008, inventory decreased by 6.8% while sales increased by 36.4%. Pending Sales are also up 28.6% showing signs of improvement. SP/LP Ratio Sunny Isles Beach 2008

1 year 15 months
Dec 07 Dec 08 % Change Oct 07 Dec 08 % Change
Avg. Days on Market 131 125 -4.6% 124 125 0.8%
Sold/List Diff. % 91 86 -5.5% 91 86 -5.5%

Sunny Isles Beach 2008 Days On Market

Average days on the market decreased by 4.6% in a positive direction to just over 4 months of selling time. These are based on SOLD figures. On the flip side of this coin, 125 days on the market to sell is not what sellers want to hear. Additionally, not included in this blog post is the question of ‘months of inventory,’ which is nothing extremely positive to relay and could change with various factors in the coming year(s). There were 41 months of inventory in December, which decreased over 2008 positively by 31.6% and 22.9%+ over the previous 15-month period. A healthy market has around 6 months of inventory, but we can’t predict future inventory levels yet.

Sunny Isles Beach Stats & Trends 2008

1 year 15 months
Dec 07 Dec 08 % Change Oct 07 Dec 08 % Change
Avg. Active Price 681 662 -2.8% 671 662 -1.3%
Avg. Sold Price 453 536 18.3% 497 536 7.8%

Sunny Isles Beach 2008 Average Selling Price (PSF)

Wow…, the average 33160 selling SOLD price has increased over 2008 by 18%. Enough said.Average PPSF Sunny Isles Beach 2008

1 year 15 months
Dec 07 Dec 08 % Change Oct 07 Dec 08 % Change
Avg. Sq. Ft. Price 322 301 -6.4% 364 301 -17.2%

Solid news for buyers includes a 2008 price decrease (specifically above 33160 waterfront condos) of 6.4% and 17% over the previous 15 months. The chart above is specific for all price points in the 33160 zip code. In the coming weeks, I’ll add new posts similar to this one for specific luxury oceanfront Sunny Isles Beach and Miami Beach condos. These graphs and statistics show us a lot when attempting to forecast whether or not it’s the right time for you to buy Sunny Isles real estate (specific to Sunny Isles, Bal Harbour & Miami Beach real estate).

Summary of a Down Market (Overview)

YES, I am optimistic. I am a Florida Realtor©, aka. Keller Williams Sales Associate and soon-to-be Broker-Associate plus a happy person, so I choose to be. Why have a cup-half-empty approach unless you are a media outlet, speculator, or Case Shiller? I am also honest, and if it’s a bad real estate decision, I’ll let you know as I plan on keeping long-term business relationships.

A LOT of the buying decision depends on what you think is the best time and whether or not you have cash as leverage or need financing (get the bank approval first, then buy right)… If you’d like to have your questions answered or have input & opinions on this blog post or any other, we’d love to hear from you. With over 150+ readers daily, I post almost every comment unless it’s spammy, and your privacy is guaranteed unless you disclose otherwise, ie) Trump Towers Blog has all but SS #s

Have a productive week, and come back soon!

Oh, btw, if you haven’t subscribed to this blog yet, do it now! If you’d like new blog updates once available, you can be notified by email or by RSS feed (see upper left column) every time a new posting occurs. 1.888.38.DREAM!

About Ashton Coleman

Ashton is a tech & social media savvy professional who understands the industry providing white-glove service with a wealth of experience, an impeccable reputation, and a keen ability to efficiently handle all facets of real estate. Ashton’s territory has grown significantly since 2002, marketing & selling extraordinary South Florida coastal real estate from Miami Beach to Lighthouse Point. A Certified Luxury Homes Marketing Specialist (Million Dollar Guild), with a multitude of other residential certifications, Ashton provides both exceptional service and unique selling techniques. His success is attributed to an unparalleled work ethic with years of experience including top-tier professional services where the ‘art of the deal’ is mastered in contract negotiations, deal-making intricacies and the end, results-driven real estate.

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