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 decreased? I’ve been wanting to know this too. 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 Condos
(159th to 193rd Streets)
MIAMI Condo Pricing Trends:
2008 (559 total sales | Average SP/PSF $414)
January – 30 Sales at an average selling price per square foot of $382 and 90% SP/LP% (average buyer discount of 10%)
February – 36 Sales at an average selling price per square foot of $458 and 87% SP/LP% (average buyer discount of 13%)
March – 45 Sales at an average selling price per square foot of $324 and 89% SP/LP% (average buyer discount of 11%)
April – 48 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%)
June – 50 Sales at an average selling price per square foot of $309 and 87% SP/LP% (average buyer discount of 13%)
July – 53 Sales at an average selling price per square foot of $362 and 90% SP/LP% (average buyer discount of 10%)
August – 48 Sales at an average selling price per square foot of $295 and 92% SP/LP% (average buyer discount of 8%)
September – 56 Sales at an average selling price per square foot of $253 and 92% SP/LP% (average buyer discount of 8%)
October – 41 Sales at an average selling price per square foot of $316 and 90% SP/LP% (average buyer discount of 10%)
November – 38 Sales at an average selling price per square foot of $277 and 92% SP/LP% (average buyer discount of 8%)
December – 49 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)
January – 39 Sales at an average selling price per square foot of $265 and 88% SP/LP% (average buyer discount of 12%)
February – 42 Sales at an average selling price per square foot of $224 and 86% SP/LP% (average buyer discount of 14%)
March – 61 Sales at an average selling price per square foot of $234 and 89% SP/LP% (average buyer discount of 11%)
April – 55 Sales at an average selling price per square foot of $202 and 90% SP/LP% (average buyer discount of 10%)
May – 44 Sales at an average selling price per square foot of $248 and 91% SP/LP% (average buyer discount of 9%)
June – 57 Sales at an average selling price per square foot of $222 and 92% SP/LP% (average buyer discount of 8%)
July – 62 Sales at an average selling price per square foot of $222 and 88% SP/LP% (average buyer discount of 12%)
August – 68 Sales at an average selling price per square foot of $233 and 90% SP/LP% (average buyer discount of 10%)
September – 62 Sales at an average selling price per square foot of $241 and 92% SP/LP% (average buyer discount of 8%)
October – 61 Sales at an average selling price per square foot of $215 and 90% SP/LP% (average buyer discount of 10%)
November – 62 Sales at an average selling price per square foot of $260 and 94% SP/LP% (average buyer discount of 6%)
December – 55 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)
January – 50 Sales at an average selling price per square foot of $229 and 97% SP/LP% (average buyer discount of 3%)
February – 56 Sales at an average selling price per square foot of $206 and 95% SP/LP% (average buyer discount of 5%)
March – 77 Sales at an average selling price per square foot of $231 and 92% SP/LP% (average buyer discount of 8%)
April – 63 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
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