Sunny Isles Beach oceanfront condo sales and trends have been looked upon, with an aggressive 27% appreciation these last two years. With the development boom from 2015-2020 and many new condo towers to choose from, residential condos in Sunny Isles Beach, Florida, continue to have a great selection, and now again in September 2022, with buyer leverage and what many consider as good value. From Florida’s tax incentives to clean, healthy living and beautiful properties, there are few places globally that offer the health, wealth & lifestyle found here in Miami.
>>Sunny Isles Beach Real Estate<<
>Sunny Isles Beach’s Recent Price Changes<
The updated graphs below show the current market shifts of Sunny Isles Beach oceanfront condo sales and trends before, during, and post-COVD into the final stretch of 2022. Although the charts show dates delayed by a month, the Sunny Isles condo trends, especially luxury oceanfront real estate, remains in favor of buyers.
Inventory Trends (For Sale, Pending & Sold)
Condos For Sale in August 2022: 404 units.
•Down 1% compared to last month
•Down 10% compared to last year
Condos Closed in August 2022: 26 units.
•Down 23.5% compared to last month
•Down 48% compared to last year
Condos Placed under Contract in August 2022: 26 units.
•Down 7.1% compared to last month
•Down 33.3% compared to last year
Average Sold Price Per Square Foot
Average Sold Price per Square Footage in August 2022: $1,127
•Up 2.2% compared to last month
•Up 19.1% compared to last year
Ave. Days on Market & Buyer Discount Trends
Average Days on Market in August 2022: 144
•Up 5.9% compared to last month
•Down 4.6% compared to last year
August 2022 Sold/Original List Price Ratio Remains Steady*
Sold/Original List Price % in August 2022: 92%
•Down 1.1% compared to last month
•Down 2.1% compared to last year
Average Price for Sale and Sold Trends
Average For Sale Price (in thousand) in August 2022: $3903
•Down 2.4% compared to last month
•Up 1.5% compared to last year
August 2022 Average Sold Price is Appreciating*
Average Sold Price (in thousand) in August 2022: $2824
•Up 7.6% compared to last month
•Up 21.1% compared to last year
Sunny Isles Condo Closed Sale Absorption Rate Trends
Months of Inventory based on Closed Sales in August 2022: 15.5
•Up 29.2% compared to last month
•Up 72.4% compared to last year
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
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