The Miami Beach Real Estate RE-Views for February 2012

A History of ‘Top 10′ Miami Beach Condo Trophy Sales

Hi friends,

Let’s locate and analyze the top ten Miami Beach luxury condo sales from 2007 to 2011 including the average selling price per square foot in the luxury tier for the year.

2007 (Average Price Per Square Foot = $1,243) -

1. 1500 Ocean Drive #T8 Sold at $12M ($1005 psf)
2. Fisher Island #7263 Sold at $9M ($1320 psf)
3. Fisher Island #7192 Sold at $8.9M ($na psf)
4. Icon South Beach #PH2 Sold at $7M ($876 psf)
5. Fisher Island #7142 Sold at $8.3M ($1181 psf)
6. Continuum #2803 Sold at $6.5M ($1361 psf)
7. Portofino Tower #4003 Sold at $6.472M ($1505 psf)
8. Fontainebleau II #PH3702 Sold at $6.4M ($1488 psf)
9. Fisher Island #7415 Sold at $7M ($1400 psf)
10. Fisher Island #7782 Sold at $6.5M ($1053 psf)

2008 (Average Price Per Square Foot = $1,333) -

1. Fisher Island #7274 Sold at $12.360M ($1389 psf)
2. Fisher Island #7111 Sold at $7.2M ($1429 psf)
3. Fisher Island #7453 Sold at $11.2M ($1383 psf)
4. Fisher Island #7191 Sold at $8M ($1356 psf)
5. Fisher Island #5031/2 Sold at $5.6M ($820 psf)
6. Continuum #1606/7 Sold at $6.025M ($1376 psf)
7. Apogee #2004 Sold at $7.3M ($1757 psf)
8. Setai #PH VC Sold at $6M ($1680 psf)
9. Bath Club #Villa 4 Sold at $6.7M ($1175 psf)
10. Bath Club #Villa 6 Sold at $5.5M ($967 psf)

2009 (Average Price Per Square Foot = $1,225) -

1. Continuum #PH 1 Sold at $9.9M ($1343 psf)
2. Il Villaggio #PH 6&7 Sold at $7M ($1228 psf)
3. Murano at Portofino #3801 Sold at $7.450M ($1557 psf)
4. Fisher Island #7712 Sold at $5.457M ($974 psf)
5. Apogee #1104 Sold at $6M ($1444 psf)
6. Apogee #1404 Sold at $6M ($1444 psf)
7. One Bal Harbour #2008 Sold at $5.2M ($987 psf)
8. Apogee #1201 Sold at $5.450M ($1312 psf)
9. Continuum #3804-5 Sold at $6.250M ($1179 psf)
10. Acqualina #PH 4506 Sold at $4.999M ($779 psf)

2010 (Average Price Per Square Foot = $1,651) -

1. Setai #B Sold at $15M ($2416 psf)
2. One Bal Harbour #PH 2108 Sold at $8.7M ($1653 psf)
3. Fontainebleau II #PH North Sold at $9M ($2000 psf)
4. Continuum #1804 Sold at $6.750M ($1622 psf)
5. Fisher Island #7223 Sold at $6.750M ($990 psf)
6. Apogee #904 Sold at $6.550M ($1577 psf)
7. Apogee #1801 Sold at $5.9M ($1420 psf)
8. Apogee #1104 Sold at $5.350M ($1288 psf)
9. W Hotel South Beach #UPH 1 Sold at $6.2M ($2253 psf)
10. Apogee #704 Sold at $5.3M ($1293 psf)

2011 (Average Price Per Square Foot = $1,657) -

1. Setai #PH A Sold at $21.5M ($3463 psf)
2. Apogee #PH A Sold at $11.5M ($1678 psf)
3. Continuum #3604-3 Sold at $10.576M ($1643 psf)
4. Fisher Island #7163 Sold at $8.150M ($1160 psf)
5. Fisher Island #7724 Sold at $7.724M ($1133 psf)
6. Fisher Island #7734 Sold at $7.250M ($1063 psf)
7. Apogee #2101 Sold at $7.5M ($1805 psf)
8. Apogee #1404 Sold at $7.350M ($1769 psf)
9. Continuum #801 Sold at $6.5M ($1226 psf)
10. Apogee #1001 Sold at $6.8M ($1637 psf)

Filed under: Buyers of South Florida, Luxury Residential Market

Tags: Tags: 1500 Ocean Drive, Acqualina, Apogee, Bath Club, Continuum South Tower, Fisher Island, Icon South Beach, Il Villaggio, Miami Beach, Miami Beach luxury condos, Murano at Portofino, One Bal Harbour, Portofino Tower, Setai, South Beach

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Sunny Isles Beach Luxury Oceanfront Condo Market Index 1Q 2012

Edition #8 of the January 2012 Sunny Isles Condo Index

We’ll be reviewing the latest  trends and comparing the luxury oceanfront market from the 1Q 2011 Condo Index to today’s updated 1Q 2012 Sunny Isles Condo Index including premier oceanfront towers such as Turnberry Ocean Colony,Acqualina, JADE Ocean, JADE Beach, 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.

Sunny Isles Beach Condo Index (1Q 2012)

As of January 2nd, we are noting 688 total condos for sale in Sunny Isles Beach down 19% from the May 2011 Condo Index.

In the prior 30 days, there have been 62 total closed sales. In the last 90 days, 212 condos have sold averaging $264 per square foot with a 94% Sale to List Price Ratio and 163 days on market. In the same 90 day period of January 2nd 2011, there had been 207 condos sold averaging $221 per square foot (Sold values UP 16% over January 2011) with a 93% Sale to List Price Ratio and 123 days on market.

What will be analyzed more specifically in this post are luxury oceanfront condo building statistics & new trends for the most desirable luxury towers along the coastline of Sunny Isles Beach.
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 | 16 of 247 or 6%| Ave List Price $2.257M | Ave PPSF $880
• JADE Beach – 17001 Collins Avenue | 19 of 248 or 8% | Ave List Price $2.645M | Ave PPSF $828
• JADE Ocean (Sold Out 2011) – 17121 Collins Avenue | 11 of 250 or 4% | Ave List Price $2.785M | Ave PPSF $1,081
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 7 of 130 or 5% | Ave List Price $2.802M | Ave PPSF $931
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 10 of 130 or 8% | Ave List Price $2.734M | Ave PPSF $932
• Trump Palace – 18101 Collins Avenue | 20 of 275 or 7% | Ave List Price $1.611M | Ave PPSF $738
• Trump Royale – 18201 Collins Avenue | 12 of 384 or 3%| Ave list Price $1.186M | Ave PPSF $619
• Trump Tower I – 16001 Collins Avenue | 28 of 271 or 10% | Ave List Price $1.285M | Ave PPSF $571
• Trump Tower II – 15901 Collins Avenue | 12 of 271 or 4% | Ave List Price $1.322M | Ave PPSF $583
• Trump Tower III – 15850 Collins Avenue | Developer Inventory Now Selling
• Sayan- 16275 Collins Avenue | 13 of 88 or 15% | Ave List Price $968k | Ave PPSF $533
• Ocean Four – 17201 Collins Avenue | 18 of 281 or 7% | Ave List Price $913k | Ave PPSF $509
• Ocean Three – 18911 Collins Avenue | 17 of 215 or 8% | Ave List Price $1.413M | Ave PPSF $473
• Ocean Two – 19111 Collins Avenue | 8 of 254 or 3% | Ave List Price $1.070M | Ave PPSF $472
• Ocean One – 19333 Collins Avenue | 5 of 241 or 2% | Ave List Price $956k | Ave PPSF $412
• Millennium – 18671 Collins Avenue | 6 of 120 or 5% | Ave List Price $1.223M | Ave PPSF $578
• Pinnacle – 17555 Collins Avenue | 11 of 244 or 5% | Ave List Price $1.164M | Ave PPSF $554
• La Perla- 16699 Collins Avenue | 17 of 326 or 5% | Ave List Price $700k | Ave PPSF $482

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 | 4 Closed Sales at $823 PSF (12% increase in PPSF since 2Q 2011) | 87% SP/LP | 185 DOM
• JADE Beach- 17001 Collins Avenue | 12 Closed Sales at $582 PSF (11% increase in PPSF since 2Q 2011) | 93% SP/LP | 221 DOM
• JADE Ocean- 17121 Collins Avenue | 3 Closed Sales at $724 PSF (6% increase in PPSF since 2Q 2011) | 84% SP/LP | 276 DOM
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 1 Closed Sales at $716 PSF (3% increase in PPSF since 2Q 2011) | 89% SP/LP | 234 DOM
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 5 Closed Sales at $700 PSF (5% decrease in PPSF since 2Q 2011) | 88% SP/LP | 406  DOM
• Trump Palace- 18101 Collins Avenue | 6 Closed Sales at $516 PSF (9% increase in PPSF since 2Q 2011) | 94% SP/LP | 310 DOM
• Trump Royale – 18201 Collins Avenue | 11 Closed Sales at $500 PSF (6% increase in PPSF since 2Q 2011) | 95% SP/LP | 181 DOM
• Trump Tower I – 16001 Collins Avenue | 2 Closed Sales at $534 PSF (3% increase in PPSF since 2Q 2011) | 97% SP/LP | 18 DOM
• Trump Tower II – 15901 Collins Avenue | 6 Closed Sales at $438 PSF (13% increase in PPSF since 2Q 2011) | 91% SP/LP | 71 DOM
• Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales & Resales
• Sayan- 16275 Collins Avenue | 5 Closed Sale at $326 PSF (1% decrease in PPSF since 2Q 2011) | 96% SP/LP | 354 DOM
• Ocean Four – 17201 Collins Avenue | 9 Closed Sales at $410 PSF (6% increase in PPSF since 2Q 2011) | 94% SP/LP | 169 DOM
• Ocean Three – 18911 Collins Avenue | 5 Closed Sales at $386 PSF (14% increase in PPSF since 2Q 2011) | 92% SP/LP | 298 DOM
• Ocean Two – 19111 Collins Avenue | 9 Closed Sales at $401 PSF (23% increase in PPSF since 2Q 2011) | 93% SP/LP | 168 DOM
• Ocean One – 19333 Collins Avenue | 3 Closed Sales at $299 PSF (1% decrease in PPSF since 2Q 2011) | 89% SP/LP | 337 DOM
• Millennium – 18671 Collins Avenue | 2 Closed Sales at $489 PSF (18% increase in PPSF since 2Q 2011) | 93% SP/LP | 255 DOM
• Pinnacle – 17555 Collins Avenue | 9 Closed Sales at $405 PSF (5% decrease in PPSF since 2Q 2011) | 93% SP/LP | 358 DOM
• La Perla- 16699 Collins Avenue | 11 Closed Sales at $362 PSF (2% increase in PPSF since 2Q 2011) | 94% SP/LP | 314 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach condo inventory is down hovering 688 total condos for sale while property values have increased considerably (16% YTD) as International & domestic buyers purchase these new 2012 deals. Oceanfront condo towers now have very healthy inventory figures as shown above in blue with all but Sayan showing less than 10% available as condo inventory for sale. Each building & property tells a different story and the bottom line is that the Sunny Isles Beach condo market has shown significant signs of improvement since 2009 on oceanfront real estate. It’s still an excellent time to buy Miami Beach real estate as long as you & the family will use the property and enjoy it for years to come.

Selling or Leasing Your Condo? Are you trying to sell or lease with no solid results, little communication with market value updates, aggressive global marketing & overall progress in meeting the goal… 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 today at 1.888.383.7326 or direct 1.305.978.7704.

Buyer’s ready for a great property? Call or email for the very best condo deals along Sunny Isles Beach, Bal Harbour, North Bay Village, Miami Beach & South Beach. The buyer advantage is still selection & leverage but we are consistently seeing multiple cash offers and dwindling inventory which are driving up values as we noted the 16% gain from a year ago today. The low-end residential condo market is accelerating with 60% of condo sales under $250k. As this new year progresses and inventory continues to decrease, I believe prices will show in favor for continued improvement in the transition back to a sellers market. 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 Beach & JADE Ocean along with Turnberry Ocean Colony Sunny Isles website & Ocean Colony Condo Blog for intimate luxury condo knowledge! The truth is in the numbers 1.888.383.7326 and I welcome your knowledge, opinions, comments & feedback.

Showing You the Very Best from Sunny Isles to South Beach!

(Figures are derived from the South Florida Regional Multiple Listing Service January 2012)

Filed under: Buyers of South Florida, Condos and Development, Luxury Residential Market, Seller's of South Florida, Sunny Isles Beach Condos

Tags: Tags: 2012, Collins Avenue, luxury oceanfront condo, Market Index, Miami Beach Real Estate, Oceanfront real estate, Sunny Isles Beach, Sunny Isles Condo Index

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Miami Beach Condo Sales & Trends – 2011 Year In Review

Hello friends and only 5 days until 2012! As KT would say, I am a ‘Realtor first and a blogger second’ so please forgive the delay in posting new local information. What we’re reviewing below is the Miami Beach condo sales & trends for 2011 compared to prior years. I plan on doing an updated Sunny Isles Beach condo index soon so stay tuned!

Miami Beach Condo Sales vs. Selling Price Per Square Foot (SP$/SF):

• 2011 – 4,067 Sold at $315 SP/SF (UP 10% YTD)
• 2010 – 3,220 Sold at $282 SP/SF (Down 3% YTD)
• 2009 – 2,515 Sold at $290 SP/SF (Down 30% YTD)
• 2008 – 2,100 Sold at $415 SP/SF (Down 7% YTD)
• 2007 – 1,922 Sold at $448 SP/SF

Available condo inventory today rests at 2,819 with 248 sales last month for an 11 month supply.

All figures derived from the South Florida MLS (Multiple Listing Service) including Miami Beach, South Beach, Bal Harbour, North Bay Village and Sunny Isles Beach.

Filed under: Buyers of South Florida, Condos and Development, Miami Beach Condos

Tags: Tags: condo inventory, Miami Beach Condo, Miami Beach Condo Sales, Miami Beach Condo Trends, Miami Beach Real Estate, Sunny Isles Beach

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The Miami Beach Real Estate RE-Views for July 2011

In the midst of Miami summertime fun and things are somewhat quiet yet both foreign & domestic buyers are still in weekly scouting the good buys from lingering inventory. Speaking of condo inventory, we see it decreasing consistently showing us a 34% (YTD) drop from July of 2010 and another 4% over the prior month. Luxury condo towers such as Jade Ocean, Jade Beach, Ocean Four and Turnberry Ocean Colony are noticing only 2 to 3 condos for sale on the most desirable floor plans and to top it off, asking 25% premiums over 2009 & 2010 closed sale comparables. Other luxury towers such as Trump Royale have sold the most desirable floor plans while Trump Tower III, the remaining Trump tower to sell out, holds firm on the final inventory that remains specific to the 3 bedroom (A model) which hovers $1.8M.

Besides uptick indicators mentioned above & below, selling prices are setting new area records in 2011. South Beach record setting Apogee just sold the most desirable Miami Beach Penthouse at $11.5 Million. This Apogee condo sale is number 10 on the list of 2011 sales records for South Miami Beach of $1,678 per square foot while the highest sale goes to W Penthouse 6 which sold on July 1st for $2,602 PSF. Miami Beaches most desirable Bath Club 3002 sold on July 20th for $1,000 PSF. Bal Harbours 2011 record condo sale went to One Bal Harbour 1501 which sold at $1,053 PSF, while Sunny Isles Beach shows us the JADE Ocean Skyloft Penthouse condo which sold for $3.5M or $1,020 per square foot.

Statistics for the month of JULY reflect 2,884 total condos for sale along the Miami-Dade County oceanfront communities of South Beach, Miami Beach, Bal Harbour, North Bay Villageand Sunny Isles Beach with condo inventory levels down 34% year to date; again this month condo inventory is down 4% over last with what is now an 11 month supply based on the previous 30-day closed sales:

** South Beach Condos: 1,036 for sale | 99 Sales in last 30 days | Average Days on Market 124 | Average Buyer Discount 5% | Average PPSF Asking $445 / Sold $413

** Miami Beach Condos: 760 for sale | 69 Sales in last 30 days | Average Days on Market 143 | Average Buyer Discount 5% | Average PPSF Asking $297 / Sold $278

** Bal Harbour Condos: 199 for sale | 7 Sales in last 30 days | Average Days on Market 188 | Average Buyer Discount 8% | Average PPSF Asking $543 / Sold $482

** North Bay Village Condos: 88 for sale | 19 Sales in last 30 days | Average Days on Market 141 | Average Buyer Discount 2% | Average PPSF Asking $129 / Sold $123

** Sunny Isles Beach Condos: 801 for sale | 61 Sales in last 30 days | Average Days on Market 138 | Average Buyer Discount 5% | Average PPSF Asking $308 / Sold $280

Miami Beach | Sunny Isles Real Estate Summary

Miami Beach condo inventory continues decreasing month over month, sale-price to list-price ratios have maintained an average 5% buyer discount while active days on market have decreased to ~ 4 months to sell. Each of these indicators prove to be good signs for market improvement. Still I’m watching and beginning to note the selling price per square foot in many cases trending upwards especially since 2009 and depending on the location & type of condo along the beaches.

Sunny Isles Beach selling prices (Ave. per square foot) decreased 2% over the prior month while Bal Harbour and South Beach condo sale prices increased 4% and 6% respectively.  Over the prior 90 day period, selling price per square foot has increased an average 4% along the beaches. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 2% of our inventory and have sold at 101% sale to list while Miami Beach short sales made up 13% of our condo inventory and sold at 99% sale to list. 77% of all closed sales last month were cash transactions! Miami’s warm climate is most desirable and the market shift is noted as trends move in favor of a new balanced market by the end of the year. Many buyers are in to enjoy the great values of Miami Beach luxury condos and to explore what remains to be a vast amount of buying opportunity along Miami-Dade County Beaches. For more information on oceanfront locations, luxury buildings or statistics & trends simply email, find me on ‘Live Chat’ or call me toll free at 1.888.383.7326. For detailed monthly Miami Beach condo statistics emailed each month, sign up for the e-Newsletter on the right side – ‘Join Our Mailing List.’

  New Listing at Terra Beachside Villas #312

May 2011 – Real Estate Statistics for the Miami Beaches

March 2011 - Real Estate Statistics for the Miami Beaches

February 2011 – Real Estate Statistics for the Miami Beaches

November 2010 – Real Estate Statistics for the Miami Beaches

October 2010 – Real Estate Stats for the Miami Beaches

September 2010 - Real Estate Statistics for the Miami Beaches

June 2010 – Real Estate Statistics for the Miami Beaches

Filed under: Bal Harbour Condos, Buyers of South Florida, Condos and Development, Miami Beach Condos, North Bay Village Condos, Seller's of South Florida, South Beach Condos, Sunny Isles Beach Condos

Tags: Tags: Bal Harbour, Jade Ocean, Miami Beach Condo, Miami Beach Condo Inventory, Miami Beach Real Estate Statistics, Ocean Four Sunny Isles Beach, South Beach Condos, Sunny Isles Beach Condos, Trump Royale Condos, Trump Tower III, Turnberry Ocean Colony

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Sunny Isles Beach Luxury Oceanfront Condo Market Index 2Q 2011

Edition #7 of the 2011 Sunny Isles Condo Index

We’ll be reviewing the latest  trends and comparing the luxury oceanfront market from the 3Q 2010 Sunny Isles Condo Index to today’s updated 2Q 2011 Sunny Isles Condo Index including premier oceanfront towers such as Turnberry Ocean Colony, Acqualina, JADE Ocean, JADE Beach, 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.

Sunny Isles Beach Condo Index (2Q 2011)

As of May 19th, we are noting 852 total condos for sale in Sunny Isles Beach down 22% from the July 2010 Condo Index. So far in 2011, there have been 361 total closed sales (Figures are derived from the South Florida Regional Multiple Listing Service May 2011) this year. In the last 90 days, 177 condos have sold averaging $247 per square foot with a 99% Sale to List Price Ratio and 140 days on market. In the same 90 day period of July 14th 2010, there had been 176 condos sold averaging $256 per square foot (Sold values down 4% over July 2010) with a 93% Sale to List Price Ratio and 164 days on market.

What will be analyzed more specifically in this post are luxury oceanfront condo building statistics & new trends for the most desirable luxury towers along the coastline of Sunny Isles Beach.
Percentage Available Inventory, Average List Price & Average Price Per Square Foot for leading luxury condo towers currently listed & Active on the MLS

• Acqualina- 17885 Collins Avenue | 22 of 247 or 9%| Ave List Price $1.979M | Ave PPSF $862
• JADE Beach – 17001 Collins Avenue | 32 of 248 or 13% | Ave List Price $1.754M | Ave PPSF $722
• JADE Ocean (26 Developer units remain) – 17121 Collins Avenue | 16 of 250 or 6% | Ave List Price $1.731M | Ave PPSF $765
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 9 of 130 or 7% | Ave List Price $2.684M | Ave PPSF $857
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 14 of 130 or 11% | Ave List Price $2.787M | Ave PPSF $863
• Trump Palace – 18101 Collins Avenue | 21 of 275 or 8% | Ave List Price $1.316M | Ave PPSF $638
• Trump Royale – 18201 Collins Avenue | 18 of 384 or 5%| Ave list Price $1.027M | Ave PPSF $577
• Trump Tower I – 16001 Collins Avenue | 31 of 271 or 11% | Ave List Price $1.179M | Ave PPSF $527
• Trump Tower II – 15901 Collins Avenue | 11 of 271 or 4% | Ave List Price $1.188M | Ave PPSF $520
• Trump Tower III – 15850 Collins Avenue | Developer Inventory Selling
• Sayan- 16275 Collins Avenue | 12 of 88 or 14% | Ave List Price $1.112M | Ave PPSF $489
• Ocean Four – 17201 Collins Avenue | 29 of 281 or 10% | Ave List Price $1.006M | Ave PPSF $504
• Ocean Three – 18911 Collins Avenue | 18 of 215 or 8% | Ave List Price $1.181M | Ave PPSF $458
• Ocean Two – 19111 Collins Avenue | 11 of 254 or 4% | Ave List Price $1.025M | Ave PPSF $456
• Ocean One – 19333 Collins Avenue | 12 of 241 or 5% | Ave List Price $886k | Ave PPSF $395
• Millennium – 18671 Collins Avenue | 2 of 120 or 2% | Ave List Price $1.325M | Ave PPSF $597
• Pinnacle – 17555 Collins Avenue | 13 of 244 or 5% | Ave List Price $1.037M | Ave PPSF $496
• La Perla- 16699 Collins Avenue | 21 of 326 or 6% | Ave List Price $676k | Ave PPSF $434

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 | 17 Closed Sales at $726 PSF (7% increase in PPSF since 3Q 2010) | 93% SP/LP | 145  DOM
• JADE Beach- 17001 Collins Avenue | 9 Closed Sales at $517 PSF (17% increase in PPSF since 3Q 2010) | 89% SP/LP | 215 DOM
• JADE Ocean- 17121 Collins Avenue | 3 Closed Sales at $678 PSF | 91% SP/LP | 203 DOM
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 6 Closed Sales at $691 PSF (2% increase in PPSF since 3Q 2010) | 86% SP/LP | 116 DOM
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 4 Closed Sales at $735 PSF (22% increase in PPSF since 3Q 2010) | 86% SP/LP | 122  DOM
• Trump Palace- 18101 Collins Avenue | 10 Closed Sales at $467 PSF (5% decrease in PPSF since 3Q 2010) | 89% SP/LP | 92 DOM
• Trump Royale – 18201 Collins Avenue | 5 Closed Sales at $472 PSF (5% decrease in PPSF since 3Q 2010) | 95% SP/LP | 174 DOM
• Trump Tower I – 16001 Collins Avenue | 2 Closed Sales at $518 PSF (23% increase in PPSF since 3Q 2010) | 95% SP/LP | 92 DOM
• Trump Tower II – 15901 Collins Avenue | 1 Closed Sales at $379 PSF | 92% SP/LP | 62 DOM
• Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales
• Sayan- 16275 Collins Avenue | 2 Closed Sale at $328 PSF | (4% increase in PPSF since 3Q 2010) | 103% SP/LP | 341 DOM
• Ocean Four – 17201 Collins Avenue | 12 Closed Sales at $385 PSF (5% increase in PPSF since 3Q 2010) | 92% SP/LP | 179 DOM
• Ocean Three – 18911 Collins Avenue | 8 Closed Sales at $332 PSF (3% decrease in PPSF since 3Q 2010) | 93% SP/LP | 142 DOM
• Ocean Two – 19111 Collins Avenue | 1 Closed Sales at $309 PSF (26% decrease in PPSF since 3Q 2010) | 92% SP/LP | 136 DOM
• Ocean One – 19333 Collins Avenue | 6 Closed Sales at $302 PSF (6% decrease in PPSF since 3Q 2010) | 96% SP/LP | 134 DOM
• Millennium – 18671 Collins Avenue | 2 Closed Sales at $399 PSF (14% decrease in PPSF since 3Q 2010) | 92% SP/LP | 90 DOM
• Pinnacle – 17555 Collins Avenue | 4 Closed Sales at $425 PSF (22% increase in PPSF since 3Q 2010) | 92% SP/LP | 158 DOM
• La Perla- 16699 Collins Avenue | 13 Closed Sales at $355 PSF (7% increase in PPSF since 3Q 2010) | 96% SP/LP | 195 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach condo inventory is down hovering 852 total condos for sale while property values have increased (10% YTD) considerably as International & domestic buyers purchase these 2011 deals. The majority of oceanfront condo towers now have healthy inventory figures as shown above in blue with anything less 15% available for sale. Each building & property tells a different story and the bottom line is this Sunny Isles Beach condo market showing significant signs of improvement on oceanfront real estate. It’s an excellent time to buy Miami Beach real estate as long as you & the family will use it and enjoy it for at least the next few years.

Selling or Leasing Your Condo? Are you trying to sell or lease with no results, communication, market value updates, aggressive global marketing & overall progress in meeting the goal.. Call or email for a personalized market report and global marketing plan surely to gain proper exposure for your condominium. Let’s start today at 1.888.383.7326 or direct 1.305.978.7704.

Buyer’s ready for a great property? Call or email for the very best condo deals along Sunny Isles Beach, Bal Harbour, North Bay Village, Miami Beach & South Beach. The buyer advantage is still selection & leverage but we are consistently seeing multiple cash offers driving up values as we noted the 10% gain over a year ago today. The low-end residential condo market is accelerating with 60% of condo sales under $250k. As this year progresses and inventory continues to decrease, I believe prices will show in favor for continued improvement. 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 Beach & JADE Ocean along with Turnberry Ocean Colony Sunny Isles website & Ocean Colony Condo Blog for intimate luxury condo knowledge! The truth is in the numbers 1.888.383.7326 and I welcome your knowledge, opinions, comments & feedback.

Showing You the Very Best from Sunny Isles to South Beach!

Filed under: Buyers of South Florida, Condos and Development, Investments, Seller's of South Florida, Sunny Isles Beach Condos

Tags: Tags: Acqualina, Condo Index, condo market, Jade Beach, Jade Ocean, Miami Beach Real Estate, Ocean Four, Oceanfront real estate, Sunny Isles Beach Condos, Trump Palace, Trump Royale, Turnberry Ocean Colony

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The Miami Beach Real Estate RE-Views for May 2011

South Beach record setting Apogee just sold the most desirable Miami Beach Penthouse at $11.5 Million and was slowly reduced 48% from the original list price of $22 Million back in 2008. This sets a 2011 sales record of $1,678 per square foot while Sunny Isles Beach sold (auctioned) an Acqualina condo for $3.630M or $822 per square foot.

Statistics for the month of MAY reflect 3,210 total condos for sale along the Miami-Dade County oceanfront communities of South Beach, Miami Beach, Bal Harbour, North Bay Village and Sunny Isles Beach with condo inventory levels down 26% year to date; again this month condo inventory is down 4% over last with what is now an 11 month supply based on the previous 30-day closed sales:

** South Beach Condos: 1,158 for sale | 97 Sales in last 30 days | Average Days on Market 145 | Average Buyer Discount 6% | Average PPSF Asking $414 / Sold $379
** Miami Beach Condos: 838 for sale | 89 Sales in last 30 days | Average Days on Market 152 | Average Buyer Discount 5% | Average PPSF Asking $265 / Sold $247
** Bal Harbour Condos: 213 for sale | 11 Sales in last 30 days | Average Days on Market 151 | Average Buyer Discount 9% | Average PPSF Asking $469 / Sold $418
** North Bay Village Condos: 120 for sale | 27 Sales in last 30 days | Average Days on Market 162 | Average Buyer Discount 1% | Average PPSF Asking $130 / Sold $128
** Sunny Isles Beach Condos: 881 for sale | 66 Sales in last 30 days | Average Days on Market 142 | Average Buyer Discount 3% | Average PPSF Asking $265 / Sold $248

Miami Beach | Sunny Isles Real Estate Summary

Miami Beach condo inventory continues decreasing month over month, sale-price to list-price ratios have maintained an average 5% buyer discount while active days on market have decreased to ~ 4 months to sell. Each of these indicators prove to be good signs for market improvement. Still I’m watching and beginning to see the selling price per square foot trending upwards depending on the location along the beaches.

Sunny Isles Beach selling prices (Ave. per square foot) decreased 2% over the prior month while Bal Harbour and South Beach condo sale prices increased 4% and 6% respectively.  Over the prior 90 day period, selling price per square foot has increased an average 4% along the beaches. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 2% of our inventory and have sold at 101% sale to list while Miami Beach short sales made up 13% of our condo inventory and sold at 99% sale to list. 77% of all closed sales last month were cash transactions! Miami’s warm climate is most desirable and the market shift is noted as trends move in favor of a new balanced market by the end of the year. Many buyers are in to enjoy the great values of Miami Beach luxury condos and to explore what remains to be a vast amount of buying opportunity along Miami-Dade County Beaches. For more information on oceanfront locations, luxury buildings or statistics & trends simply email, find me on ‘Live Chat’ or call me toll free at 1.888.383.7326. For detailed monthly Miami Beach condo statistics emailed each month, sign up for the e-Newsletter on the right side – ‘Join Our Mailing List.’

March 2011 - Real Estate Statistics for the Miami Beaches

February 2011 – Real Estate Statistics for the Miami Beaches

November 2010 – Real Estate Statistics for the Miami Beaches

October 2010 – Real Estate Stats for the Miami Beaches

September 2010 - Real Estate Statistics for the Miami Beaches

June 2010 – Real Estate Statistics for the Miami Beaches

Filed under: Bal Harbour Condos, Buyers of South Florida, Condos and Development, Luxury Residential Market, Miami Beach Condos, North Bay Village Condos, Seller's of South Florida, South Beach Condos, Sunny Isles Beach Condos

Tags: Tags: Acqualina, Apogee, Miami Beach Condo Inventory, Miami Beach Penthouse, South Beach Condos, Sunny Isles Beach condo, Sunny Isles real estate

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The Miami Beach Real Estate RE-Views for March 2011

The new year, new positive news plus an abundance of new buyers have figures on their way UP and Miami Beach real estate sales are looking stronger than ever. Inventory has fallen as a steady confidence builds along the beaches while news sources such as the Miami Herald, CNBC & Wall Street Journal relay that now is the time to own (if not last year) for the record real estate lows along the Miami Beaches.

Statistics for the month of March reflect 3,580 total condos for sale along the Miami-Dade County oceanfront communities of South Beach, Miami Beach, Bal Harbour, North Bay Village and Sunny Isles Beach with condo inventory levels down 18% year to date; again this month condo inventory is down a whopping 9% over last with what is now an 13.6 month supply based on the previous 30-day closed sales:

** South Beach Condos: 1,286 for sale | 108 Sales in last 30 days | Average Days on Market 155 | Average Buyer Discount 6% | Average PPSF Asking $404 / Sold $373
** Miami Beach Condos: 954 for sale | 68 Sales in last 30 days | Average Days on Market 138 | Average Buyer Discount 6% | Average PPSF Asking $244 / Sold $224
** Bal Harbour Condos: 208 for sale | 9 Sales in last 30 days | Average Days on Market 123 | Average Buyer Discount 6% | Average PPSF Asking $334 / Sold $338
** North Bay Village Condos: 144 for sale | 19 Sales in last 30 days | Average Days on Market 98 | Average Buyer Discount 1% | Average PPSF Asking $117 / Sold $118
** Sunny Isles Beach Condos: 988 for sale | 60 Sales in last 30 days | Average Days on Market 143 | Average Buyer Discount 7% | Average PPSF Asking $290 / Sold $262

Miami Beach | Sunny Isles Real Estate Summary

Miami Beach condo inventory continues decreasing month over month, sale-price to list-price ratios have maintained an average 5% buyer discount while active days on market have decreased to ~ 4 months to sell. Each of these indicators prove to be good signs for market improvement. Still I’m watching and beginning to see the selling price per square foot trending upwards depending on the location along the beaches. Sunny Isles Beach selling prices (Ave. per square foot) increased 12% over the prior period while Bal Harbour condo sales decreased 15%.  Over the prior 90 day period, selling price per square foot has decreased an average 2% along the beaches. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 3% of our inventory and have sold at 101.6% sale to list while Miami Beach short sales made up 14% of our condo inventory and sold at 94% sale to list. 79% of all closed sales last month were cash transactions! Miami’s weather is perfect and the market shift is noted as trends move in favor of a new balanced market by the end of the year. Many buyers are in to enjoy the warmth (& coolness factor) of Miami Beach luxury condos and to explore what remains to be a vast amount of great opportunity along Miami-Dade County Beaches. For more information on oceanfront locations, luxury buildings or statistics & trends simply write, find me on ‘Live Chat’ or call me toll free at 1.888.383.7326.

February 2011 – Real Estate Statistics for the Miami Beaches

November 2010 – Real Estate Statistics for the Miami Beaches

October 2010 – Real Estate Stats for the Miami Beaches

September 2010 - Real Estate Statistics for the Miami Beaches

June 2010 – Real Estate Statistics for the Miami Beaches

Filed under: Bal Harbour Condos, Buyers of South Florida, Condos and Development, Investments, Miami Beach Condos, North Bay Village Condos, Seller's of South Florida, South Beach Condos, Sunny Isles Beach Condos

Tags: Tags: Bal Harbour, condo inventory, Miami Beach luxury condos, Miami Beach Real Estate, North Bay Village, South Beach Condos, Sunny Isles Beach condo

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The Magic City – Miami

I love Miami.

Filed under: Buyers of South Florida, Community Information, Condos and Development

Tags: Tags: Miami, The Magic City

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