Sunny Isles Beach Condo Market & Pricing Trends – A 2.5 Years Sales History

Have we seen the bottom of the Sunny Isles Beach condo market and when was it exactly? Is this the “bouncing bottom” or did “rock bottom” hit already with continued improvements in 2010 as Sunny Isles condo inventory decreases? I’ve been wanting to know this too and we’ll soon discover Sunny Isles Beach condo pricing trends over the past 2.5 years and onwards as this year continues..

Sunny Isles Beach (159th to 193rd Streets) MIAMI Condo Pricing Trends:

2008 (559 total sales | Average SP/PSF $414)

January30 Sales at an average selling price per square foot of $382 and 90% SP/LP% (average buyer discount of 10%)
February36 Sales at an average selling price per square foot of $458 and 87% SP/LP% (average buyer discount of 13%)
March45 Sales at an average selling price per square foot of $324 and 89% SP/LP% (average buyer discount of 11%)
April48 Sales at an average selling price per square foot of $573 and 87% SP/LP% (average buyer discount of 13%)
May 65 Sales at an average selling price per square foot of $368 and 90% SP/LP% (average buyer discount of 10%)
June50 Sales at an average selling price per square foot of $309 and 87% SP/LP% (average buyer discount of 13%)
July53 Sales at an average selling price per square foot of $362 and 90% SP/LP% (average buyer discount of 10%)
August48 Sales at an average selling price per square foot of $295 and 92% SP/LP% (average buyer discount of 8%)
September56 Sales at an average selling price per square foot of $253 and 92% SP/LP% (average buyer discount of 8%)
October41 Sales at an average selling price per square foot of $316 and 90% SP/LP% (average buyer discount of 10%)
November38 Sales at an average selling price per square foot of $277 and 92% SP/LP% (average buyer discount of 8%)
December49 Sales at an average selling price per square foot of $269 and 89% SP/LP% (average buyer discount of 11%)

2009 (668 total sales | Average SP/PSF $235)

January39 Sales at an average selling price per square foot of $265 and 88% SP/LP% (average buyer discount of 12%)
February42 Sales at an average selling price per square foot of $224 and 86% SP/LP% (average buyer discount of 14%)
March61 Sales at an average selling price per square foot of $234 and 89% SP/LP% (average buyer discount of 11%)
April55 Sales at an average selling price per square foot of $202 and 90% SP/LP% (average buyer discount of 10%)
May44 Sales at an average selling price per square foot of $248 and 91% SP/LP% (average buyer discount of 9%)
June57 Sales at an average selling price per square foot of $222 and 92% SP/LP% (average buyer discount of 8%)
July62 Sales at an average selling price per square foot of $222 and 88% SP/LP% (average buyer discount of 12%)
August68 Sales at an average selling price per square foot of $233 and 90% SP/LP% (average buyer discount of 10%)
September62 Sales at an average selling price per square foot of $241 and 92% SP/LP% (average buyer discount of 8%)
October61 Sales at an average selling price per square foot of $215 and 90% SP/LP% (average buyer discount of 10%)
November62 Sales at an average selling price per square foot of $260 and 94% SP/LP% (average buyer discount of 6%)
December55 Sales at an average selling price per square foot of $269 and 93% SP/LP% (average buyer discount of 7%)

2010 (so far.. 265 sales | Average SP/PSF $234)

January50 Sales at an average selling price per square foot of $229 and 97% SP/LP% (average buyer discount of 3%)
February56 Sales at an average selling price per square foot of $206 and 95% SP/LP% (average buyer discount of 5%)
March77 Sales at an average selling price per square foot of $231 and 92% SP/LP% (average buyer discount of 8%)
April63 Sales at an average selling price per square foot of $242 and 91% SP/LP% (average buyer discount of 9%)
May – so far 19 Sales at an average selling price per square foot of $315 and 94% SP/LP% (average buyer discount of 6%)
PS. 2007 Sales totaled 405 at an average PPSF of $379
Sunny Isles Beach Skyline
Check out more Miami BeachSunny Isles Real Estate news & local information here on Facebook!  YouTube,  Twitter, etc. Or you can easily reach me toll free at 1.888.383.DREAM (37326).

Leave a Reply