Sunny Isles Beach Luxury Oceanfront Condo Market Index 2013

Sunny Isles Condo Index September 2013: Edition #10

Hi friends! Below, we will be reviewing the latest real estate trends and comparing the luxury oceanfront market from the October 2012 Condo Index to today’s updated Sunny Isles Beach Condo Market Index 2013, 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 2013 trends for the most desirable luxury condo towers along the coastline of Sunny Isles Beach.

Sunny Isles Beach Condo Index (2013)

As of September 5th, we note 608 total condos for sale in Sunny Isles Beach, up 8% from the October 2012 Condo Index. In the last 30 days, there have been 57 total closed sales. In the last 90 days, 242 condos have sold. They average $385 per square foot with a 95% Sale to List Price Ratio and 107 days on the market. In the same 90-day period of October 2012, there were 297 condos sold, averaging $354 per square foot. Sold values were Up 8% over October 2012 with a 98% Sale to List Price Ratio and 123 days on the market.

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

• Acqualina– 17875 – 17885 Collins Avenue | 7 of 247 or 3% | Ave List Price $3.153M | Ave PPSF $1,219
• Mansions at Acqualina – 17749 Collins Avenue – New Construction coming soon..
• Chateau – 17475 Collins Avenue – New Construction coming soon..
• JADE Beach – 17001 Collins Avenue | 21 of 248 or 8% | Ave List Price $2.597M | Ave PPSF $1,071
• JADE Ocean – 17121 Collins Avenue | 9 of 250 or 4% | Ave List Price $4.417M | Ave PPSF $1,307
• Jade Signature – 16901 Collins Avenue – New Construction coming soon..
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 10 of 130 or 8% | Ave List Price $3.213M | Ave PPSF $1,056
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 8 of 130 or 6% | Ave List Price $4.211M | Ave PPSF $1,132
• Trump Palace – 18101 Collins Avenue | 10 of 275 or 4% | Ave List Price $2.091M | Ave PPSF $1,088
• Trump Royale – 18201 Collins Avenue | 27 of 384 or 7%| Ave list Price $1.526M | Ave PPSF $840
• Trump Tower I – 16001 Collins Avenue | 18 of 271 or 6% | Ave List Price $1.717M | Ave PPSF $756
• Trump Tower II – 15901 Collins Avenue | 11 of 271 or 4% | Ave List Price $1.884M | Ave PPSF $807
• Trump Tower III – 15811 Collins Avenue| 13 of 271 or 5% | Ave List Price $1.529M | Ave PPSF $772
• Regalia – 19505 Collins Avenue – New Construction coming soon..
• Sayan– 16275 Collins Avenue | 10 of 88 or 11% | Ave List Price $1.956M | Ave PPSF $680
• Ocean Four – 17201 Collins Avenue | 14 of 281 or 5% | Ave List Price $1.705M | Ave PPSF $779
• Ocean Three – 18911 Collins Avenue | 7 of 215 or 3% | Ave List Price $2.225M | Ave PPSF $720
• Ocean Two – 19111 Collins Avenue | 2 of 254 or 1% | Ave List Price $2.597M | Ave PPSF $790
• Ocean One – 19333 Collins Avenue | 2 of 241 or 1% | Ave List Price $1.425M | Ave PPSF $729
• Millennium – 18671 Collins Avenue | 5 of 120 or 4% | Ave List Price $1.585M | Ave PPSF $815
• Pinnacle – 17555 Collins Avenue | 10 of 244 or 4% | Ave List Price $1.752M | Ave PPSF $718
• La Perla– 16699 Collins Avenue | 10 of 326 or 3% | Ave List Price $824k | Ave PPSF $545

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 | 7 Closed Sales at $1,096 PSF (23% increase in SP$/PSF since OCT 2012) | 92% SP/LP | 56 DOM
• Mansions at Acqualina – 17749 Collins Avenue – New Construction coming soon..
• Chateau – 17475 Collins Avenue – New Construction coming soon..
• JADE Beach– 17001 Collins Avenue | 13 Closed Sales at $857 PSF (11% increase in SP$/PSF since OCT 2012) | 96% SP/LP | 120 DOM
• JADE Ocean– 17121 Collins Avenue | 12 Closed Sales at $991 PSF (15% increase in PPSF since OCT 2012) | 94% SP/LP | 80 DOM
• Jade Signature – 16901 Collins Avenue – New Construction coming soon..
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 4 Closed Sales at $942 PSF (7% increase in PPSF since OCT 2012) | 94% SP/LP | 154 DOM
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 5 Closed Sales at $854 PSF (7% increase in PPSF since OCT 2012) | 91% SP/LP | 123  DOM
• Trump Palace – 18101 Collins Avenue | 14 Closed Sales at $751 PSF (21% increase in PPSF since OCT 2012) | 93% SP/LP | 122 DOM
• Trump Royale – 18201 Collins Avenue | 4 Closed Sales at $724 PSF (21% increase in PPSF since OCT 2012) | 91% SP/LP | 54 DOM
• Trump Tower I – 16001 Collins Avenue | 8 Closed Sales at $592 PSF (10% increase in PPSF since OCT 2012) | 95% SP/LP | 153 DOM
• Trump Tower II – 15901 Collins Avenue | 8 Closed Sales at $604 PSF (12% increase in PPSF since OCT 2012) | 94% SP/LP | 184 DOM
• Trump Tower III – 15811 Collins Avenue | 10 Closed Sales at $635 PSF (NEW Results) | 94% SP/LP | 164 DOM
• Regalia – 19505 Collins Avenue – New Construction coming soon..
• Sayan– 16275 Collins Avenue | 2 Closed Sales at $597 PSF (26% increase in PPSF since OCT 2012) | 97% SP/LP | 21 DOM
• Ocean Four – 17201 Collins Avenue | 11 Closed Sales at $480 PSF (4% decrease in PPSF since OCT 2012) | 94% SP/LP | 106 DOM
• Ocean Three – 18911 Collins Avenue | 7 Closed Sales at $493 PSF (13% increase in PPSF since OCT 2012) | 97% SP/LP | 102 DOM
• Ocean Two – 19111 Collins Avenue | 12 Closed Sales at $566 PSF (13% increase in PPSF since OCT 2012) | 93% SP/LP | 98 DOM
• Ocean One – 19333 Collins Avenue | 4 Closed Sales at $491 PSF (24% increase in PPSF since OCT 2012) | 90% SP/LP | 240 DOM
• Millennium – 18671 Collins Avenue | 4 Closed Sales at $522 PSF (16% decrease in PPSF since OCT 2012) | 84% SP/LP | 90 DOM
• Pinnacle – 17555 Collins Avenue | 7 Closed Sales at $526 PSF (8% increase in PPSF since OCT 2012) | 93% SP/LP | 162 DOM
• La Perla– 16699 Collins Avenue | 13 Closed Sales at $514 PSF (14% increase in PPSF since OCT 2012) | 96% SP/LP | 72 DOM

Sunny Isles Beach Condo Index Summary

Wow, what a difference we’ve seen in values during this last 11-month period! Sunny Isles Beach condo inventory is hovering at 608 total condos for sale, while property values have increased considerably (14% SP$PSF Average) over the last year. The average buyer discounts along with the number of days it takes to sell a condominium, have also decreased considerably. These luxury oceanfront condo towers sustain very healthy inventory figures. As shown above, less than an average of 4.8% is available.

Sunny Isles Beach Condo Market Index 2013

Each building & property tells us a different story on sales and trends while the bottom line is that the Sunny Isles Beach condo market has shown significant signs of improvement (since 2009) into what is now a strong seller’s market 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.

Move to Miami

Buyers, Ready for an amazing Miami condo or home? Call or email for the very best properties along Sunny Isles Beach, Aventura, Bal Harbour, North Bay Village, Miami Beach & South Beach.. Now, it is also covering Coconut Grove real estate and Coral Gables. The buyer advantage is still pricing and low interest rates when financing is leveraged. Do realize that luxury real estate, in the current market, has comparable closed sales thrown out the door. Prior Sales don’t really matter to affluent sellers patiently waiting and savvy brokers who manage to make new 2013 sales records. We are seeing consistent & multiple cash offers where over 79% of sales include buyers paying cash. Multiple buyers & bids are driving up values with this 14% average market gain from almost a year earlier.

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. As this year ends and Miami’s pre-construction inventory begins to rise at a speculative future value, I believe prices may show favor in selling. We are in a seller’s market with multiple buyers looking for properties like yours.

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If you’d like to receive local Miami Beach FL real estate news via these valuable blog posts, you can quickly 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 number 1.888.383.7326, and I welcome your knowledge, opinions, comments & feedback.

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(Figures are derived from the South Florida Regional Multiple Listing Service September 2013)