Sunny Isles Beach Oceanfront Condo Trends Post-COVID-19

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With residential properties in Sunny Isles Beach, Florida discounted up to 45% off the original list price values, the time to own South Florida real estate having selection, leverage, and value is ideal. From Florida’s awesome tax incentives to clean, healthy living and beautiful properties, there are few places globally that offer the lifestyle found here in Miami.

From the graphs below, we can clearly see the current market shifts of Sunny Isles Beach oceanfront condo trends prior to, during, and post-COVID-19. Although the charts show dates delayed by almost a month, the condo market in Sunny Isles Beach and especially luxury oceanfront real estate remains in strong favor of buyers.

With uncertainty and in some cases, short-term panic, deals are being made for the bold willing to wait this out and enjoy South Florida immediately.

>>Sunny Isles Beach’s Recent Price Changes<<

>>Sunny Isles Oceanfront Real Estate<<

👆 We see Sold units fall off b/c of COVID in April & May with a slight uptick to 2019 Sold levels in July. High condo inventory for sale held steady this year with just over 1,000 condo units for sale.
👆 Super values from past year standards along the coastline of Sunny Isles Beach. Bargain hunters are seeking (and finding) views & value when there is so much supply to choose from.
👆 Days On Market (DOM) is on the rise as many who’ve sold in June and July waited 230 to 320 days to sell. Additionally, the discounts noted for buyers has been increasing to 12% in July. With such supply in contrast to demand, the figures above are not healthy as Sunny Isles Beach has been inundated with luxury condos painting the skyline with beauty in architecture but proving true market values in 2020 and especially post-COVD.
👆 Regalia & Jade Signature had two super bargains at $1,006 and $1,231 per square foot respectively thus driving up the average sale price in July. An influx of luxury condos built along Sunny Isles Beach aimed to push through the $2,000+ psf but in fact, sale price values are much lower hovering around $1200 psf for the very best properties.
👆 Inventory dropping in July looks promising but when 55 months to sell is realized, there is nothing worth bragging over. You must be ultra-competitive/aggressive on list price to sell in today’s post-COVID market climate and you must buy right if seeking a second home for your family. Many are coming and with calculated offers, getting super value.

>>South Florida Homes, Luxury Condos & Unique Penthouses<<

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