Sunny Isles Beach Oceanfront Condo Market Index 4Q 2012

Welcome to the Sunny Isles Beach Oceanfront Condo Market Index for the 4Q of 2012. We’ll be reviewing the latest trends and comparing the luxury oceanfront market from the 1Q 2012 Condo Index to today’s updated 4Q 2012 Sunny Isles Condo Index, including premier oceanfront condo towers such as Turnberry Ocean Colony, Acqualina, JADE Ocean, JADE Beach, Trump Palace, Trump Royale, Ocean Four, Sayan, Trump Towers, Pinnacle & Millennium.

I’ve excluded condo hotel properties from this research, including Trump International Beach Resort, Merenas Resort, Ocean Point, and Sole on the Ocean. What will be analyzed more specifically in this post are luxury oceanfront condos, statistics & new 2012 trends for the most desirable luxury towers along the coastline of Sunny Isles Beach.

Edition #9: October 2012 Sunny Isles Condo Index

Sunny Isles Beach Index (4Q 2012)

As of October 23rd, we note 554 total condos for sale in Sunny Isles Beach, down 19% from the January 2012 Condo Index. In the last 30 days, there have been 66 total closed sales. In the last 90 days, 297 condos have sold, averaging $354 per square foot. We find a 98% Sale to List Price Ratio and 123 days on market. In the same 90-day period of January 2012, there were 212 condos sold. They average $264 per square foot, with the Sold values Up 11% over January 2012. There is a 94% Sale to List Price Ratio and 163 days on market.

Percentage Available Inventory, Average List Price & Average Price Per Square Foot for leading luxury condo towers currently listed & Active on the MLS

• Acqualina Resort – 17875 – 17885 Collins Avenue | 9 of 247 or 4% | Ave List Price $2.385M | Ave PPSF $1049
• JADE Beach – 17001 Collins Avenue | 17 of 248 or 7% | Ave List Price $2.398M | Ave PPSF $960
• JADE Ocean – 17121 Collins Avenue | 11 of 250 or 4% | Ave List Price $3.977M | Ave PPSF $1,240
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 8 of 130 or 6% | Ave List Price $2.875M | Ave PPSF $1036
• Turnberry Ocean Colony South Tower; 16047 Collins Avenue. 8 of 130 or 6%. Ave List Price $4.235M | Ave PPSF $1113
• Trump Palace – 18101 Collins Avenue | 12 of 275 or 4% | Ave List Price $2.082M | Ave PPSF $958
• Trump Royale – 18201 Collins Avenue | 14 of 384 or 4%| Ave list Price $1.488M | Ave PPSF $803
• Trump Tower I – 16001 Collins Avenue | 17 of 271 or 6% | Ave List Price $1.591M | Ave PPSF $664
• Trump Tower II – 15901 Collins Avenue | 12 of 271 or 4% | Ave List Price $1.491M | Ave PPSF $670
• Trump Tower III – 15811 Collins Avenue| 13 of 271 or 5% | Ave List Price $1.366M | Ave PPSF $685
• Sayan– 16275 Collins Avenue | 5 of 88 or 6% | Ave List Price $1.034M | Ave PPSF $648
• Ocean Four – 17201 Collins Avenue | 9 of 281 or 3% | Ave List Price $1.160M | Ave PPSF $584
• Ocean Three – 18911 Collins Avenue | 5 of 215 or 2% | Ave List Price $1.358M | Ave PPSF $542
• Ocean Two – 19111 Collins Avenue | 8 of 254 or 3% | Ave List Price $1.272M | Ave PPSF $546
• Ocean One – 19333 Collins Avenue | 5 of 241 or 2% | Ave List Price $996k | Ave PPSF $478
• Millennium – 18671 Collins Avenue | 3 of 120 or 3% | Ave List Price $1.781M | Ave PPSF $623
• Pinnacle – 17555 Collins Avenue | 11 of 244 or 5% | Ave List Price $1.392M | Ave PPSF $627
• La Perla – 16699 Collins Avenue | 15 of 326 or 5% | Ave List Price $767k | Ave PPSF $510

Ave Price Per Square Foot on Condos SOLD (last 6 months). Sale Price to List Ratio. # Days On Market

• Acqualina Resort – 17885 Collins Avenue | 12 Closed Sales at $844 PSF (2% increase in PPSF since 1Q 2012) | 95% SP/LP | 310 DOM
• JADE Beach- 17001 Collins Avenue | 19 Closed Sales at $762 PSF (24% increase in PPSF since 1Q 2012) | 93% SP/LP | 231 DOM
• JADE Ocean- 17121 Collins Avenue | 9 Closed Sales at $840 PSF (14% increase in PPSF since 1Q 2012) | 91% SP/LP | 156 DOM
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 4 Closed Sales at $876 PSF (18% increase in PPSF since 1Q 2012) | 91% SP/LP | 168 DOM
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 3 Closed Sales at $798 PSF (12% increase in PPSF since 1Q 2012) | 97% SP/LP | 107  DOM
• Trump Palace – 18101 Collins Avenue | 11 Closed Sales at $595 PSF (13% increase in PPSF since 1Q 2012) | 97% SP/LP | 343 DOM
• Trump Royale – 18201 Collins Avenue | 6 Closed Sales at $572 PSF (13% increase in PPSF since 1Q 2012) | 95% SP/LP | 100 DOM
• Trump Tower I – 16001 Collins Avenue | 16 Closed Sales at $533 PSF (same% in PPSF since 1Q 2012) | 94% SP/LP | 214 DOM
• Trump Tower II – 15901 Collins Avenue | 10 Closed Sales at $534 PSF (18% increase in PPSF since 1Q 2012) | 101% SP/LP | 185 DOM
• Trump Tower III – 15811 Collins Avenue | 2 Closed Sales at $546 PSF (NEW Results) | 95% SP/LP | 35 DOM
• Sayan– 16275 Collins Avenue | 5 Closed Sales at $444 PSF (27% increase in PPSF since 1Q 2012) | 104% SP/LP | 125 DOM
• Ocean Four – 17201 Collins Avenue | 19 Closed Sales at $499 PSF (18% increase in PPSF since 1Q 2012) | 96% SP/LP | 231 DOM
• Ocean Three – 18911 Collins Avenue | 9 Closed Sales at $429 PSF (10% increase in PPSF since 1Q 2012) | 88% SP/LP | 168 DOM
• Ocean Two – 19111 Collins Avenue | 8 Closed Sales at $494 PSF (19% increase in PPSF since 1Q 2012) | 95% SP/LP | 122 DOM
• Ocean One – 19333 Collins Avenue | 7 Closed Sales at $375 PSF (20% increase in PPSF since 1Q 2012) | 92% SP/LP | 75 DOM
• Millennium – 18671 Collins Avenue | 4 Closed Sales at $441 PSF (10% decrease in PPSF since 1Q 2012) | 96% SP/LP | 249 DOM
• Pinnacle – 17555 Collins Avenue | 8 Closed Sales at $526 PSF (23% increase in PPSF since 1Q 2012) | 94% SP/LP | 152 DOM
• La Perla – 16699 Collins Avenue | 21 Closed Sales at $440 PSF (18% increase in PPSF since 1Q 2012) | 97% SP/LP | 111 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach inventory is way down. We are hovering at 554 total condos for sale today. Property values have increased considerably (16% PSF Average). The average buyer discounts and the number of days it takes to sell a condo have decreased. These oceanfront condo towers now have very healthy inventory figures, as shown above in blue, with less than an average of 4% available. Each building & property will tell a different story on sales and trends, while the bottom line is that the Sunny Isles Beach condo market has shown major signs of improvement (since 2009) in oceanfront real estate. It’s still an awesome time to buy Miami Beach real estate as long as you and the family will enjoy the property for years to come. Miami Dade County Beaches are in big demand and a very desirable place to call home.

Ready to Own Oceanfront Property?

Call or email for the very best condo deals along Sunny Isles Beach, Bal Harbour, North Bay Village, Miami Beach & South Beach. The buyer advantage is still pricing and leverage. Still, we consistently see multiple cash offers. Dwindling inventory driving up values, as we noted the 16% gain from earlier this year. As this new year ends and inventory decreases, I believe prices will favor continued improvement. We should see a fast transition back to a seller’s market.

Selling or Leasing Your Condo? Now is the Time!

Call or email me now for a personalized market report and global marketing plan surely to gain proper exposure for your condominium. If you’d like to receive local Miami Beach real estate news via these valuable blog posts, you can easily be notified by email each time a new real estate news post occurs.

Visit the JADE Condos Sunny Isles website & JADE Condo Blog relaying great information on JADE Beach & JADE Ocean along with Turnberry Ocean Colony Sunny Isles website & Ocean Colony Condo Blog for the ultimate luxury condo knowledge. The truth is in the numbers. Contact me here or call toll-free at  1.888.383.7326. I welcome your knowledge, opinions, comments & feedback.

Showing You the Very Best from Sunny Isles to South Beach!

(Figures are derived from the South Florida Regional Multiple Listing Service October 2012)