Sunny Isles Beach (2008 year end) Waterfront Condo STATS & Trends

Hello friends. Today, I wanted to relay the 2008 South East Florida real estate trends (statistics & trends) showed for the zip code 33160 which includes Sunny Isles Beach and Aventura waterfront condos. These figures are based on a 12 month and 15 month snapshot ending December 31st 2008…

{Criteria: 33160, Waterfront Condos encompassing all price ranges}

	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%

It appears over the course of 2008, inventory decreased 6.8% while sales increased 36.4%. Pending Sales are also up 28.6% showing signs of improvement.

	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%

Average days on the market decreased 4.6% in a positive direction to just over 4 months selling time. These are based on SOLD figures. On the flipside of this coin, 125 days on market to sell is not what seller’s want to hear. Additionally, not included in this blog post is the question of ‘months of inventory’ which there 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 is around 6 months of inventory but we can’t predict future inventory levels just yet…

	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%

Wow… average 33160 selling SOLD price has increased over 2008 by 18%. Enough said.

	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 (specific above to 33160 waterfront condos) of 6.4% and 17% over the previous 15 months. This chart above is specific for all price points in the 33160 zip code. I’ll be adding new posts similar to this one for specific luxury oceanfront towers of Sunny Isles Beach and Miami Beach in the coming weeks. 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 FL real estate) is concerned.

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 your 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, 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!