What’s Up In Sunny Isles Beach’s $1M+ Condo Market? What was once a sleepy city in the late ’90s into early 2000. But today, Sunny Isles is a brilliant location whereupon, crossing the causeways into Sunny Isles Beach, you know you’ve reached an area with prestige and affluence. The architecture lining the Atlantic is second to none, with a vast area of beautiful build and design spanning just 37 blocks; 3D Map.
Newer trends with the last pre-construction cycle include larger-built condos. New condos are now over 3,000 SF, with deep terraces to entertain and enjoy the outdoor South Florida climate. The average space back when Miami was known as a place to simply vacation was <1,200 SF. Today, the average condominium for sale in Sunny Isles Beach consists of 1,742 SF. When condos are priced above $1M, the average is 2,586 SF!
Sunny Isles Beach Condo Market in 2020 & Beyond
So where are we in Q4 2020, and what may come from the inventory and selection in the coming year? What’s up in Sunny Isles Beach, Florida? To be honest, I simply do not know. I know the draw for South Florida is here. We within the residential brokerage community know the resilience & allure of Miami. The global interest remains fixed on Miami. For a winter climate as such, few destinations can compare when combined with the impressive views and value noted along the Miami coastal communities. Canada is eagerly on the sidelines, waiting for ease in travel restrictions to lift. Domestically, we have a massive draw from New York, noting that The Blackstone Group is relocating soon to bring 215 employees to South Florida.
Florida will continue growing by more than 300,000 people a year. Florida will top 22 million residents in 2022, with potentially even higher figures now because of COVID. Prices are down from supply trends from this prior pre-construction cycle, and opportunity is abundant, as we see below.
Sunny Isles Beach Condos >$1M
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