Sunny Isles Beach Luxury Oceanfront Condo Market Index | March 2014

Sunny Isles Condo Index March 2014: Edition #11

Below, we will be reviewing the latest real estate trends and comparing the luxury oceanfront market from the September 2013 Condo Index to today’s updated 2014 Sunny Isles Condo Index including premier oceanfront condo towers such as AcqualinaJADE OceanJADE BeachTurnberry Ocean ColonyTrump PalaceTrump RoyaleOcean FourSayanTrump TowersPinnacle & Millennium. I’ve excluded condo hotel properties from this research including  Trump International Beach ResortMerenas ResortOcean Point and Sole’ on the Ocean. What will be analyzed more specifically in this Miami blog post are luxury oceanfront condo buildings, statistics & new 2014 trends for the most desirable luxury condo towers along the coastline of Sunny Isles Beach.

Sunny Isles Beach Condo Index (2014)

As of March 26th, we are noting 775 total condos for sale in Sunny Isles Beach up 22% from the September 2013 Condo Index. In the last 30 days, there have been 65 total closed sales. In the last 90 days, 190 condos have sold averaging $427 per square foot with a 94% Sale to List Price Ratio and 99 days on market. In the same 90 day period of September 2013, there had been 242 condos sold averaging $385 per square foot (Sold values are Up a healthy 10% over September 2013) with a 95% Sale to List Price Ratio and 107 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 | 11 of 247 or 4% | Ave List Price $4.425M | Ave PPSF $1,411
  • Mansions at Acqualina – 17749 Collins Avenue – New Construction coming soon..
  • Chateau – 17475 Collins Avenue – New Construction coming soon..
  • JADE Beach – 17001 Collins Avenue | 22 of 248 or 9% | Ave List Price $3.037M | Ave PPSF $1,201
  • JADE Ocean – 17121 Collins Avenue | 20 of 250 or 8% | Ave List Price $3.404M | Ave PPSF $1,428
  • Jade Signature – 16901 Collins Avenue – New Construction coming soon..
  • Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 9 of 130 or 7% | Ave List Price $3.383M | Ave PPSF $1,135
  • Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 11 of 130 or 8% | Ave List Price $4.195M | Ave PPSF $1,159
  • Trump Palace – 18101 Collins Avenue | 10 of 275 or 4% | Ave List Price $1.820M | Ave PPSF $972
  • Trump Royale – 18201 Collins Avenue | 31 of 384 or 8%| Ave list Price $1.691M | Ave PPSF $908
  • Trump Tower I – 16001 Collins Avenue | 21 of 271 or 8% | Ave List Price $2.126M | Ave PPSF $888
  • Trump Tower II – 15901 Collins Avenue | 14 of 271 or 5% | Ave List Price $1.703M | Ave PPSF $795
  • Trump Tower III – 15811 Collins Avenue| 20 of 271 or 7% | Ave List Price $1.849M | Ave PPSF $864
  • Regalia – 19505 Collins Avenue – New Construction coming soon..
  • Sayan– 16275 Collins Avenue | 10 of 88 or 11% | Ave List Price $1.864M | Ave PPSF $732
  • Ocean Four – 17201 Collins Avenue | 14 of 281 or 5% | Ave List Price $1.568M | Ave PPSF $752
  • Ocean Three – 18911 Collins Avenue | 11 of 215 or 5% | Ave List Price $1.817M | Ave PPSF $690
  • Ocean Two – 19111 Collins Avenue | 5 of 254 or 2% | Ave List Price $2.617M | Ave PPSF $856
  • Ocean One – 19333 Collins Avenue | 7 of 241 or 3% | Ave List Price $1.550M | Ave PPSF $682
  • Millennium – 18671 Collins Avenue | 5 of 120 or 4% | Ave List Price $1.705M | Ave PPSF $841
  • Muse – 17141 Collins Avenue – New Construction coming soon..
  • Porsche Design Tower – 18555 Collins Avenue – New Construction coming soon..
  • Pinnacle – 17555 Collins Avenue | 14 of 244 or 6% | Ave List Price $1.684M | Ave PPSF $796
  • La Perla– 16699 Collins Avenue | 16 of 326 or 5% | Ave List Price $935k | Ave PPSF $644

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 | 3 Closed Sales at $1,114 PSF (2% increase in SP$/PSF since Sept. 2013) | 96% SP/LP | 110 DOM
  • Mansions at Acqualina – 17749 Collins Avenue – New Construction coming soon..
  • Chateau – 17475 Collins Avenue – New Construction coming soon..
  • JADE Beach– 17001 Collins Avenue | 15 Closed Sales at $925 PSF (7% increase in SP$/PSF since Sept. 2013) | 91% SP/LP | 98 DOM
  • JADE Ocean– 17121 Collins Avenue | 6 Closed Sales at $1,123 PSF (12% increase in SP$/PSF since Sept. 2013) | 91% SP/LP | 277 DOM
  • Jade Signature – 16901 Collins Avenue – New Construction coming soon..
  • Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 3 Closed Sales at $975 PSF (3% increase in PPSF since Sept. 2013) | 92% SP/LP | 197 DOM
  • Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 3 Closed Sales at $925 PSF (8% increase in PPSF since Sept. 2013) | 93% SP/LP | 103  DOM
  • Trump Palace – 18101 Collins Avenue | 8 Closed Sales at $865 PSF (13% increase in PPSF since Sept. 2013) | 94% SP/LP | 169 DOM
  • Trump Royale – 18201 Collins Avenue | 10 Closed Sales at $762 PSF (5% increase in PPSF since Sept. 2013) | 94% SP/LP | 233 DOM
  • Trump Tower I – 16001 Collins Avenue | 11 Closed Sales at $681 PSF (13% increase in PPSF since Sept. 2013) | 96% SP/LP | 184 DOM
  • Trump Tower II – 15901 Collins Avenue | 7 Closed Sales at $660 PSF (8% increase in PPSF since Sept. 2013) | 97% SP/LP | 67 DOM
  • Trump Tower III – 15811 Collins Avenue | 7 Closed Sales at $774 PSF (18% increase in PPSF since Sept. 2013) | 94% SP/LP | 103 DOM
  • Regalia – 19505 Collins Avenue – New Construction coming soon..
  • Sayan– 16275 Collins Avenue | 2 Closed Sales at $566 PSF (5% Decrease in PPSF since Sept. 2013) | 96% SP/LP | 193 DOM
  • Ocean Four – 17201 Collins Avenue | 6 Closed Sales at $664 PSF (28% increase in PPSF since Sept. 2013) | 95% SP/LP | 149 DOM
  • Ocean Three – 18911 Collins Avenue | 4 Closed Sales at $598 PSF (18% increase in PPSF since Sept. 2013) | 95% SP/LP | 50 DOM
  • Ocean Two – 19111 Collins Avenue | 1 Closed Sales at $605 PSF (6% increase in PPSF since Sept. 2013) | 96% SP/LP | 7 DOM
  • Ocean One – 19333 Collins Avenue | 3 Closed Sales at $529 PSF (7% increase in PPSF since Sept. 2013) | 92% SP/LP | 40 DOM
  • Millennium – 18671 Collins Avenue | 2 Closed Sales at $733 PSF (29% increase in PPSF since Sept. 2013) | 90% SP/LP | 26 DOM
  • Muse – 17141 Collins Avenue – New Construction coming soon..
  • Porsche Design Tower – 18555 Collins Avenue – New Construction coming soon..
  • Pinnacle – 17555 Collins Avenue | 4 Closed Sales at $618 PSF (15% increase in PPSF since Sept. 2013) | 94% SP/LP | 116 DOM
  • La Perla– 16699 Collins Avenue | 12 Closed Sales at $537 PSF (4% increase in PPSF since Sept. 2013) | 88% SP/LP | 177 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach condo inventory is hovering 775 total condos while property values have increased 11% (sale price per square foot average) over the last 6 months. The average buyer discounts along with the number of days it takes to sell a condominium have continued to decrease. These luxury oceanfront condo towers sustain very healthy inventory figures with less than an averaged 6% as available condo resale inventory. Each building and property tells us a different story on sales & trends while the bottom line is that the Sunny Isles Beach condo market still shows us values of continued improvement into what is considered a strong seller’s market on oceanfront real estate. Sunny Isles Beach penthouses will be news worthy this year as new construction inventory has been listed above $50 Million USD.

Buyers, Ready for an amazing Luxury condo or Waterfront home?

Call or email for the very best properties along Sunny Isles BeachAventuraBal Harbour, SurfsideNorth Bay VillageMiami Beach & South Beach.. Now also covering Coconut Grove real estate and Coral Gables. The buyer advantage is still pricing and low interest rates (~4.5%) when financing is leveraged. Luxury real estate, in the current market, has priced available resale inventory 10-20% above the most recent comparable closed sales. Prior Sales don’t always matter to affluent sellers patiently waiting and to savvy brokers who manage to set new sales records. We are seeing consistent & multiple cash offers where over 75% of sales include buyers paying cash. Multiple buyers & bids are driving up values with this 11% average market gain from just 6 months earlier.

Selling or Leasing Your Condo?

Call or email me now for a personalized market report and global marketing plan surely to gain outstanding International exposure for your condominium. Let’s start marketing today at 888.383.7326 or direct 305.978.7704. As this year continues and Miami’s pre-construction inventory begins to rise at a speculative future value, I believe prices may show favor in selling now. We are in a seller’s market with multiple buyers worldwide looking for properties such as yours.

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

It’s still an excellent time to buy Miami Beach real estate as long as you and the family enjoy the property & location for years to come. Miami Dade County beaches are in big demand and a very desirable place to call home. Showing You the Very Best from Sunny Isles to South Beach!

*Click the Photo Below to Learn More About this Well Priced Listing*

Jade Beach 802

(Figures are derived from the South Florida Regional Multiple Listing Service March 2014)

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