Sunny Isles Beach Luxury Oceanfront Condo Market Index | March 2014 • Miami Beach Real Estate Blog

Sunny Isles Condo Index March 2014: Edition #11

Below, we will be reviewing the latest real estate trends and comparing the luxury oceanfront market from the September 2013 Condo Index to today’s updated 2014 Sunny Isles Beach Luxury Oceanfront Condo Index, including premier oceanfront condo towers such as Acqualina, JADE Ocean, JADE Beach, Turnberry Ocean Colony, 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 Miami blog post are luxury oceanfront condo buildings, statistics & new 2014 trends for the most desirable luxury condo towers along the coastline of Sunny Isles Beach.

Sunny Isles Beach Condo Index (2014)

As of March 26th, we are noting 775 total condos for sale in Sunny Isles Beach, up 22% from the September 2013 Condo Index. In the last 30 days, there have been 65 total closed sales. In the last 90 days, 190 condos have sold, averaging $427 per square foot, with a 94% Sale to List Price Ratio and 99 days on the market. In the same 90-day period of September 2013, there were 242 condos sold, averaging $385 per square foot (Sold values are Up a healthy 10% over September 2013) with a 95% Sale to List Price Ratio and 107 days on the market.

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

Acqualina– 17875 – 17885 Collins Avenue | 11 of 247 or 4% | Ave List Price $4.425M | Ave PPSF $1,411
Mansions at Acqualina – 17749 Collins Avenue – New Construction coming soon..
Chateau – 17475 Collins Avenue – New Construction coming soon..
JADE Beach – 17001 Collins Avenue | 22 of 248 or 9% | Ave List Price $3.037M | Ave PPSF $1,201
JADE Ocean – 17121 Collins Avenue | 20 of 250 or 8% | Ave List Price $3.404M | Ave PPSF $1,428
Jade Signature – 16901 Collins Avenue – New Construction coming soon..
Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 9 of 130 or 7% | Ave List Price $3.383M | Ave PPSF $1,135
Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 11 of 130 or 8% | Ave List Price $4.195M | Ave PPSF $1,159
Trump Palace – 18101 Collins Avenue | 10 of 275 or 4% | Ave List Price $1.820M | Ave PPSF $972
Trump Royale – 18201 Collins Avenue | 31 of 384 or 8%| Ave list Price $1.691M | Ave PPSF $908
Trump Tower I – 16001 Collins Avenue | 21 of 271 or 8% | Ave List Price $2.126M | Ave PPSF $888
Trump Tower II – 15901 Collins Avenue | 14 of 271 or 5% | Ave List Price $1.703M | Ave PPSF $795
Trump Tower III – 15811 Collins Avenue| 20 of 271 or 7% | Ave List Price $1.849M | Ave PPSF $864
Regalia – 19505 Collins Avenue – New Construction coming soon..
Sayan– 16275 Collins Avenue | 10 of 88 or 11% | Ave List Price $1.864M | Ave PPSF $732
Ocean Four – 17201 Collins Avenue | 14 of 281 or 5% | Ave List Price $1.568M | Ave PPSF $752
Ocean Three – 18911 Collins Avenue | 11 of 215 or 5% | Ave List Price $1.817M | Ave PPSF $690
Ocean Two – 19111 Collins Avenue | 5 of 254 or 2% | Ave List Price $2.617M | Ave PPSF $856
Ocean One – 19333 Collins Avenue | 7 of 241 or 3% | Ave List Price $1.550M | Ave PPSF $682
Millennium – 18671 Collins Avenue | 5 of 120 or 4% | Ave List Price $1.705M | Ave PPSF $841
Muse – 17141 Collins Avenue – New Construction coming soon..
Porsche Design Tower – 18555 Collins Avenue – New Construction coming soon..
Pinnacle – 17555 Collins Avenue | 14 of 244 or 6% | Ave List Price $1.684M | Ave PPSF $796
La Perla– 16699 Collins Avenue | 16 of 326 or 5% | Ave List Price $935k | Ave PPSF $644

Ave. Price Per Square Foot on Condos SOLD within the last 6 months, Sale Price to List and # Days On Market

Acqualina– 17885 Collins Avenue | 3 Closed Sales at $1,114 PSF (2% increase in SP$/PSF since Sept. 2013) | 96% SP/LP | 110 DOM
Mansions at Acqualina – 17749 Collins Avenue – New Construction coming soon..
Chateau – 17475 Collins Avenue – New Construction coming soon..
JADE Beach– 17001 Collins Avenue | 15 Closed Sales at $925 PSF (7% increase in SP$/PSF since Sept. 2013) | 91% SP/LP | 98 DOM
JADE Ocean– 17121 Collins Avenue | 6 Closed Sales at $1,123 PSF (12% increase in SP$/PSF since Sept. 2013) | 91% SP/LP | 277 DOM
Jade Signature – 16901 Collins Avenue – New Construction coming soon..
Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 3 Closed Sales at $975 PSF (3% increase in PPSF since Sept. 2013) | 92% SP/LP | 197 DOM
Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 3 Closed Sales at $925 PSF (8% increase in PPSF since Sept. 2013) | 93% SP/LP | 103 DOM
Trump Palace – 18101 Collins Avenue | 8 Closed Sales at $865 PSF (13% increase in PPSF since Sept. 2013) | 94% SP/LP | 169 DOM
Trump Royale – 18201 Collins Avenue | 10 Closed Sales at $762 PSF (5% increase in PPSF since Sept. 2013) | 94% SP/LP | 233 DOM
Trump Tower I – 16001 Collins Avenue | 11 Closed Sales at $681 PSF (13% increase in PPSF since Sept. 2013) | 96% SP/LP | 184 DOM
Trump Tower II – 15901 Collins Avenue | 7 Closed Sales at $660 PSF (8% increase in PPSF since Sept. 2013) | 97% SP/LP | 67 DOM
Trump Tower III – 15811 Collins Avenue | 7 Closed Sales at $774 PSF (18% increase in PPSF since Sept. 2013) | 94% SP/LP | 103 DOM
Regalia – 19505 Collins Avenue – New Construction coming soon..
Sayan– 16275 Collins Avenue | 2 Closed Sales at $566 PSF (5% Decrease in PPSF since Sept. 2013) | 96% SP/LP | 193 DOM
Ocean Four – 17201 Collins Avenue | 6 Closed Sales at $664 PSF (28% increase in PPSF since Sept. 2013) | 95% SP/LP | 149 DOM
Ocean Three – 18911 Collins Avenue | 4 Closed Sales at $598 PSF (18% increase in PPSF since Sept. 2013) | 95% SP/LP | 50 DOM
Ocean Two – 19111 Collins Avenue | 1 Closed Sales at $605 PSF (6% increase in PPSF since Sept. 2013) | 96% SP/LP | 7 DOM
Ocean One – 19333 Collins Avenue | 3 Closed Sales at $529 PSF (7% increase in PPSF since Sept. 2013) | 92% SP/LP | 40 DOM
Millennium – 18671 Collins Avenue | 2 Closed Sales at $733 PSF (29% increase in PPSF since Sept. 2013) | 90% SP/LP | 26 DOM
Muse – 17141 Collins Avenue – New Construction coming soon..
Porsche Design Tower – 18555 Collins Avenue – New Construction coming soon..
Pinnacle – 17555 Collins Avenue | 4 Closed Sales at $618 PSF (15% increase in PPSF since Sept. 2013) | 94% SP/LP | 116 DOM
La Perla– 16699 Collins Avenue | 12 Closed Sales at $537 PSF (4% increase in PPSF since Sept. 2013) | 88% SP/LP | 177 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach condo inventory is hovering at 775 total condos while property values have increased 11% (sale price per square foot average) over the last 6 months. The average buyer discounts and the number of days it takes to sell a condominium have continued to decrease. These luxury oceanfront condo towers sustain very healthy inventory figures with less than an averaged of 6% as available condo resale inventory. Each building and property tells us a different story on sales & trends. The bottom line is that the Sunny Isles Beach condo market still shows us values of continuous improvement into what is considered a strong seller’s market on oceanfront real estate. Sunny Isles Beach penthouses will be newsworthy this year as new construction inventory has been listed above $50 Million USD.

Buyers, Ready for an amazing Luxury condo or Waterfront home?

Call or email for the very best properties along Sunny Isles Beach, Aventura, Bal Harbour, Surfside, North Bay Village, Miami Beach & South Beach.. Now also covering Coconut Grove real estate and Coral Gables. The buyer advantage is still pricing and low-interest rates (~4.5%) when financing is leveraged. In the current market, luxury real estate has priced available resale inventory 10-20% above the most recent comparable closed sales. Prior Sales don’t always matter to affluent sellers patiently waiting and savvy brokers who manage to set new sales records. We see consistent & multiple cash offers where over 75% of sales include buyers paying cash. Multiple buyers & bids are driving up values with this 11% average market gain from just 6 months earlier.

Selling or Leasing Your Condo?

Call or email me now for a personalized market report and global marketing plan surely to gain outstanding International exposure for your condominium. Let’s start marketing today at 888.383.7326 or direct 305.978.7704. As this year continues and Miami’s pre-construction inventory begins to rise at a speculative future value, I believe prices may show favor in selling now. We are in a seller’s market with multiple buyers worldwide looking for properties such as yours.

If you’d like to receive local Miami Beach FL real estate news via these valuable blog posts, you can easily be notified by RSS feed (see upper right column) or by email each time a new real estate news post occurs. Visit JADE Condos Sunny Isles website & JADE Condo Blog relaying great information on JADE Beach, JADE Ocean & JADE Signature along with Turnberry Ocean Colony Sunny Isles website & Ocean Colony Condo Blog for the ultimate luxury condo knowledge. The truth & trends are in the numbers 1.888.383.7326 and I welcome your knowledge, opinions, comments & feedback.

It’s still an excellent time to buy Miami Beach real estate as long as you and the family enjoy the property & location for years to come. Miami Dade County beaches are in big demand and a very desirable place to call home. Showing You the Very Best from Sunny Isles to South Beach!

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