Colony Hotel Ocean Drive
Hello friends and I trust you’re having a great weekend! I’m meeting with qualified buyers tomorrow and wanted to show them and YOU where 2008 condo sales are in South Beach and Sunny Isles Beach real estate. If you’d like to comment on these Miami Condo Sales STATS or have any questions coming to mind, send a quick note in the comment box below. There are close to 150 visitors here each day and growing! Derived from the Multiple Listing Service (MLS), we see as of NOVEMBER 22nd…
2109 = Total Condos for Sale
292 = Total Short Sales (14%)
29= Total Bank Owned REO (1%)
58 = Pending Sales (Last 30 Days)
| South Beach – Real Buyers | 30 Days Closed Sales | 90 Days Closed Sales | 6 Months Closed | 12 Months Closed |
| $0 – $199,000 | 14 | 51 | 95 | 157 |
| 200 – 299 | 9 | 26 | 80 | 170 |
| 300 – 399 | 5 | 27 | 68 | 142 |
| 400 – 499 | 3 | 17 | 43 | 83 |
| 500 – 599 | 3 | 14 | 30 | 65 |
| 600 – 699 | 0 | 8 | 24 | 44 |
| 700 – 799 | 0 | 3 | 9 | 19 |
| 800 – 899 | 0 | 2 | 7 | 13 |
| 900 – 999 | 1 | 1 | 3 | 6 |
| *1M – 1.499 (*larger band) | 1 | *11 | *30 | *48 |
| 1.5M – 1.999 | 1 | 5 | 15 | 31 |
| 2M – 2.999 | 0 | 3 | 14 | 27 |
| 3M – 3.999 | 0 | 0 | 5 | 11 |
| 4M – 4.999 | 0 | 0 | 3 | 4 |
| 5M – 5.999 | 0 | 0 | 1 | 4 |
| 6 – 10M | 0 | 0 | 3 | 4 |
| 10M + | 0 | 0 | 0 | 0 |
| Top Closed Sales in 2008 – South Beach Condos | Sale Price $ | Price Per Square Foot | Days On Market |
| Apogee | 7.3M | 1,757 | 101 |
| Apogee | 5.5M | N/A | 142 |
| Continuum | 6.025M | 1,376 | 67 |
| Setai | 6M | 1,680 | 154 |
Sunny Isles Beach Pier
Sunny Isles real estate known as “Florida’s Riviera,” is the northern entity of Miami Dade Beaches and has incredible growth potential. Donald Trump has his name on 6 towers and there are height restrictions of just over 50 stories tall allowing aggressive progressive developments. The magnitude of new development has been stellar and the architecture is brilliant. The selling price per square foot in Sunny Isles is significantly more affordable than South Beach Condos however new towers such as JADE Beach & JADE Ocean may change this in the coming years. The location is, what I would consider, more “family oriented” than South Beach. The excitement and cultural events of South Beach are still only a short drive south yet the amazing shopping of Bal Harbour and the Aventura Mall are each a 5 minute drive with the premier oceanfront location.
1534 = Total Condos for Sale
308 = Total Short Sales (20%)
18 = Total Bank Owned REO (1%)
44 = Pending Sales (Last 30 Days)
| Sunny Isles Beach – Real Buyers | 30 Day Closed Sales | 90 Days Closed Sales | 6 Month Closed | 12 Month Closed |
| $0 – $199,000 | 13 | 50 | 88 | 119 |
| 200 – 299 | 6 | 21 | 48 | 99 |
| 300 – 399 | 4 | 12 | 24 | 55 |
| 400 – 499 | 2 | 7 | 14 | 33 |
| 500 – 599 | 1 | 5 | 15 | 34 |
| 600 – 699 | 0 | 5 | 15 | 28 |
| 700 – 799 | 2 | 6 | 15 | 32 |
| 800 – 899 | 0 | 0 | 5 | 15 |
| 900 – 999 | 0 | 1 | 4 | 12 |
| *1M – 1.499 (*larger band) | 3 | *11 | *24 | *49 |
| 1.5 – 1.999 | 0 | 1 | 2 | 11 |
| 2M – 2.999 | 1 | 2 | 7 | 14 |
| 3M+ | 0 | 0 | 3 | 4 |
| Top Closed Sales in 2008 – SIB | Sale Price $ | Price Per Square Foot | Days On Market | |
| Acqualina | 3.751M | 718 | 384 | |
| Trump Palace | 3.6M | 671 | 509 | |
| Turnberry Ocean Colony | 3.390M | 974 | 30 | 130% SP/LP WHY? |
South Beach & Sunny Isles Real Estate Consutant, Micro Economist. If you’d like to receive the latest local real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper left column) or by email above every time a new posting occurs. Have a great week and call any time toll free 1.888.383.7326 or view new condos here.
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