Sunny Isles Beach Luxury Oceanfront Condo Market Index 4Q 2012

Edition #9: October 2012 Sunny Isles Condo Index

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 condo buildings, statistics & new 2012 trends for the most desirable luxury towers along the coastline of Sunny Isles Beach.

Sunny Isles Beach Condo Index (4Q 2012)

As of October 23rd, we are noting 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 with a 98% Sale to List Price Ratio and 123 days on market. In the same 90 day period of January 2012, there had been 212 condos sold averaging $264 per square foot (Sold values Up 11% over January 2012) with 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– 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 within the last 6 months, Sale Price to List and # Days On Market

Acqualina– 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 condo inventory is way down hovering 554 total condos for sale while property values have increased considerably (16% PSF Average). The average buyer discounts have decreased along with the number of days on the market it takes to sell a condominium. These oceanfront condo towers now have very healthy inventory figures as shown above in blue with less than an average 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) on 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.

Buyers ready for an 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 but we are consistently seeing multiple cash offers and dwindling inventory which are driving up values as we noted the 16% gain from earlier this year. As this new year comes to an end and inventory continues to decrease, I believe prices will show in favor for continued improvement and a fast transition back to a sellers 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. Let’s start marketing today at 1. 888.383.7326 or direct 1. 305.978.7704.

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 along with Turnberry Ocean Colony Sunny Isles website & Ocean Colony Condo Blog for the ultimate luxury condo knowledge. The truth is in the numbers 1.888.383.7326 and I welcome your knowledge, opinions, comments & feedback.

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