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)

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

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!

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

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

The seasonal slope since December shows figures on their way UP and Miami Beach real estate sales are looking very good. Inventory continues to fall while Pending Sales and Selling price per square foot are up over January 8% and 5% in the neighborhoods of Bal Harbour and Sunny Isles Beach respectively.. A steady confidence builds along the beaches, while news sources such as the Miami Herald & Wall Street Journal relay now is the time to own (if not last year) for the record real estate lows of the Miami Beaches.

Statistics for the month of February reflect 3,928 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 9% year to date; again this month condo inventory is down 2% over last month with what is now an 18.27 month supply based on the previous 30-day closed sales:

** South Beach Condos: 1,401 for sale | 81 Sales in last 30 days | Average Days on Market 139 | Average Buyer Discount 5% | Average PPSF Asking $401/Sold $371
** Miami Beach Condos: 1,044 for sale | 64 Sales in last 30 days | Average Days on Market 136 | Average Buyer Discount 5% | Average PPSF Asking $241/Sold $222
** Bal Harbour Condos: 217 for sale | 6 Sales in last 30 days | Average Days on Market 124 | Average Buyer Discount 7% | Average PPSF Asking $440/Sold $399
** North Bay Village Condos: 192 for sale | 15 Sales in last 30 days | Average Days on Market 99 | Average Buyer Discount 2% | Average PPSF Asking $123/Sold $119
** Sunny Isles Beach Condos: 1,074 for sale | 49 Sales in last 30 days | Average Days on Market 124 | Average Buyer Discount 6% | Average PPSF Asking $249/Sold $231

Miami Beach | Sunny Isles Real Estate Summary

Miami Beach condo inventory has decreased consistently 2-6% each month, sale-price to list-price ratios have reflected an average 4-6% buyer discount while active days on market have decreased to 4.13 months to sell. Each of these indicators prove to be good signs for market improvement. What I’m watching closely this year and beginning to see is the selling price per square foot jumping about depending on the location. Over the prior 90 day period, selling price per square foot has increased an average 3% along the beaches. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 3% of our inventory and have sold at 101.58% sale to list while Miami Beach short sales made up 16% of our condo inventory and sold at 94% sale to list. 78% of all closed sales last month were cash transactions! Seasonal demand is huge, Miami’s warm and the market shift is noted as trends move in favor of a new balanced market by years end. 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 good opportunities 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.

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

Miami Beach Real Estate Blog Postings have been few & far between and I plan to post a lot more in 2011. This year has been another record setting year for MiamiDreamRealty.com with more sales than in prior years and a Google dominance noted daily as the 4 niche websites and 4 blogs outperform others with customer inquiries growing by the month. I’ve started a large referral business in 2010 with very competent agents handling transactions and will be adding to this Miami Dream Team in 2011. I’ve added more great real estate information and new waterfront listings to the monthly e-Newsletter by MailChimp and encourage you to sign up for local monthly updates.

This annual report will be the 2010 year in review comparing this year’s condo sales to 2009 & 2008 for a 3-year snapshot on sales & trends.

As of December 31st 2010, there are 4,216 total Miami Beach condos for sale via MLS (S.E. Florida Multiple Listing Service) including all Miami-Dade oceanfront communities (plus North Bay Village). For general purposes, we’ll review all price ranges and in the coming weeks, I’ll post an updated pricing band analysis for select beachfront locations such as South Beach & Sunny Isles Beach condos.

MIAMI BEACH CONDO SALES

• 2010 – 3,066 condo sales (18% increase over 2009)
• 2009 – 2,522 condo sales (17% increase over 2008)
• 2008 – 2,099 condo sales (8% increase over 2007)

AVERAGE ASKING PRICE PER SQUARE FOOT

• 2010 – $310 sp/psf (6% decrease over 2009)
• 2009 – $329 sp/psf (26% decrease over 2008)
• 2008 – $442 sp/psf

AVERAGE SELLING PRICE PER SQUARE FOOT

• 2010 – $283 (3% decrease over 2009)
• 2009 – $292 (30% decrease over 2008)
• 2008 – $416

AVERAGE BUYER DISCOUNT & DAYS ON MARKET

• 2010 – 6% | 141 DOM
• 2009 – 9% | 148 DOM
• 2008 – 10% | 151 DOM

CLOSED BANK OWNED (REO) & SHORT SALE (SS) INVENTORY

• 2010 – 695 REO | 665 SS
• 2009 – 566 REO | 466 SS
• 2008 – 85 REO | 133 SS

Conflicting evidence with positive growth indicators showing condo sales increasing, inventory decreasing and buyer discounts decreasing. On the flipside of the equation, selling price per square foot of condos are also decreasing year over year. On a pricing band analysis, I suspect we may see a different story such as properties over $1M vs. properties under $250k. I find it interesting that with 4% of our Miami Beach condo inventory as bank owned and 17% of active inventory as short sales, that 2010 proved to be a very big year for bank owned (REO) sales now surpassing short sales! I’ll be reporting on new 2011 condo sales, statistics and trends so check back often for new updates on the local Miami Beach real estate market. For more information visit the many real estate websites or call toll free at 1.888.383.7326.

Just 10 hours left until 2011.. Have a happy & safe New Year!

The summer time condo trends have had their ups & downs and Miami Beach real estate sales did slow somewhat over the summer months, while inventory rose then fell back to April 2010 levels. Although a steady confidence builds along the beaches, the month of October again proved it to be a slower month for condo sales…

Statistics for the month reflect 4,356 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 6% year to date; again this month condo inventory is down 2% over last month with what is now a 27 month supply based on the previous 30-day closed sales:

** South Beach Condos: 1,535 for sale | 56 Sales in last 30 days | Average Days on Market 127 | Average Buyer Discount 6% | Average PPSF Asking $338/Sold $308
** Miami Beach Condos: 1,219 for sale | 44 Sales in last 30 days | Average Days on Market 155 | Average Buyer Discount 5% | Average PPSF Asking $254/Sold $236
** Bal Harbour Condos: 237 for sale | 7 Sales in last 30 days | Average Days on Market 184 | Average Buyer Discount 8% | Average PPSF Asking $371/Sold $329
** North Bay Village Condos: 216 for sale | 8 Sales in last 30 days | Average Days on Market 81 | Average Buyer Discount 2% | Average PPSF Asking $130/Sold $127
** Sunny Isles Beach Condos: 1,149 for sale | 46 Sales in last 30 days | Average Days on Market 127 | Average Buyer Discount 4% | Average PPSF Asking $243/Sold $227

Miami Beach | Sunny Isles Real Estate Summary

On one side of the coin, Miami Beach condo inventory has been decreasing ~2% each month, sale-price to list-price ratios have been increasing reflecting an average 4% buyer discount while active days on market have decreased to 4.5 months to sell. All of these three indicators are good signs for improvement but on the flipside, I’m also seeing selling price per square foot on the consistent, downward trend. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 4% of our inventory and have sold at 101% sale to list while Miami Beach short sales made up 18% of our condo inventory and sold at 96% sale to list. 79% of all closed sales last month were cash transactions! Seasonal demand has been huge and short term luxury rentals available via MLS are almost completely absorbed. Many vacationers will be in for the holidays to enjoy the cool bliss of Miami Beach during winter and to explore the vast 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.

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

The summer time buyer mentality is that Miami Beach real estate sales slow down and although a steady confidence builds, the month of September again proved it to be so…

Statistics for the month reflect 4,434 total condos for sale along the oceanfront communities of South Beach, Miami Beach, Bal Harbour, North Bay Village and Sunny Isles Beach and down 5% over this time last year; down 2% over last month:

** South Beach Condos: 1,621 for sale | 58 Sales in last 30 days | Average Days on Market 138 | Average Buyer Discount 4% | Average PPSF Asking $337/Sold $311
** Miami Beach Condos: 1,205 for sale | 39 Sales in last 30 days | Average Days on Market 150 | Average Buyer Discount 6% | Average PPSF Asking $255/Sold $236
** Bal Harbour Condos: 232 for sale | 4 Sales in last 30 days | Average Days on Market 147 | Average Buyer Discount 9% | Average PPSF Asking $380/Sold $332
** North Bay Village Condos: 232 for sale | 12 Sales in last 30 days | Average Days on Market 79 | Average Buyer Discount 3% | Average PPSF Asking $136/Sold $130
** Sunny Isles Beach Condos: 1,144 for sale | 51 Sales in last 30 days | Average Days on Market 142 | Average Buyer Discount 4% | Average PPSF Asking $240/Sold $231

Seasonal demand is huge and short term luxury rentals are rare. Customers will be in for the holidays to enjoy the bliss of Miami during winter and to explore the vast opportunity along Miami-Dade County Beaches. For more information on oceanfront locations, buildings or statistics simply write, find me on ‘Live Chat’ or call me toll free at 1.888.383.7326.

September 2010 - Real Estate Statistics for the Miami Beaches

Press Release

CONTACT:  Ashton Coleman | Broker Associate Keller Williams Miami Beach | 1.888.38.Dream

Luxury home sales outperform other price ranges this summer

Luxury condo market strengthens in Miami Dade County

Dallas, TX, August 30, 2010 — Gloomy news that July sales of existing homes dropped 25.5% year-over-year has overshadowed new statistics showing summer sales of million dollar plus homes significantly outperformed other price ranges.

“Luxury home buyers have been buying this summer,” said Laurie Moore-Moore, CEO of The Institute for Luxury Home Marketing (ILHM).  “After waiting in the wings, many affluent buyers spent the summer shopping for value and snapping up trophy properties.”

Statistics would indicate that she’s right. According to The National Association of Realtors (NAR), for 2009 million-dollar and above home sales were just 1.2% of total sales or about 61,500 sales nationally.  In July 2010, million dollar plus market share was up to 1.9%.  While sales of homes in the $500,000 and above range rose dramatically in June, the million-dollar-plus market segment was the only price range in July showing positive growth compared to last year.  “The mix of what is selling has shifted in favor of homes priced at $750,000 and above,” added Moore-Moore.

NAR’s report that July’s median sales price increased 0.7% year-over-year may be more a function of increasing sales of expensive properties relative to other price ranges than an indicator of across-the-board home price appreciation.

According to the ILHM National Luxury Market Report — which does a weekly analysis of luxury homes for sale in more than 30 major markets — after a dramatic rise in upper-tier inventory, which started in January of this year, the numbers of luxury homes for sale has declined about 5% since the beginning of July.  Along with a decrease in inventory, there has been a decline in asking prices.  Forty three percent of luxury homes currently on the market have had at least one reduction in asking price over the last 90 days.  An additional 19% have been pulled off the market and subsequently relisted.

“While I wouldn’t say the luxury market is in recovery,” said Moore-Moore, “the growing market share of luxury sales relative to total sales, a slight downward trend in inventory and sellers who are more realistic about price are factors shifting the affluent into a buying mode.”

Personal Note: 2010 has been quite strong for luxury real estate along Miami Dade County beaches, with 13 sales YTD over $4,000,000 taking place including a record high trophy sale of $15M at Setai South Beach. Other high sales include Fontainebleau II Penthouse at $9M, ONE Bal Harbour Penthouse at $8.7M, Apogee with several sales ranging from $5.750M to $6.850M, The Caribbean Penthouse at $5M and two Penthouses at Acqualina of Sunny Isles Beach selling from $4.5M to $4.7M. International demand is huge and all but three of these transactions were cash purchases. As a member of The Institute for Luxury Home Marketing, we are trained on exceptional marketing and end results for buyers & sellers in the luxury tier of residential real estate.

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• Miami-Dade Pending Home Sales Continue to Rise (prweb.com)

Edition #6 of the 2010 Sunny Isles Condo Index

I’ll be reviewing the latest  trends & comparing the luxury oceanfront market from the 3Q 2009 Sunny Isles Condo Index to today’s updated 3Q 2010 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 the Trump International Beach Resort, Merenas Resort, Ocean Point and Sole.

Sunny Isles Beach Condo Index (3Q 2010)

As of July 14th, we are noting 1,089 total condos for sale in Sunny Isles Beach down 15% from the July 2009 Condo Index. So far in 2010, there have been 391 total closed sales (Figures are derived from the South Florida Regional Multiple Listing Service on July 14th, 2010) this year. In the last 90 days, 176 condos have sold averaging $256 per square foot with a 93% Sale to List Price Ratio and 164 days on market. In the same 90 day period of July 14th 2009, there had been 163 condos sold averaging $225 per square foot (Sold values up 12% YTD) with a 90% Sale to List Price Ratio and 168 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 Collins Avenue | 9 of 247 or 4%| Ave List Price $2.581M | Ave PPSF $832
• JADE Beach – 17001 Collins Avenue | 40 of 248 or 16%| Ave List Price $1.367M | Ave PPSF $636
• JADE Ocean – (190 rec. deeds per County records) – 17121 Collins Avenue | 9 of 250 w/Developer units remaining | Ave List Price $1.935M | Ave PPSF $744
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 8 of 130 or 6%| Ave List Price $2.526M | Ave PPSF $812
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 17 of 130 or 13%| Ave List Price $2.3M | Ave PPSF $765
• Trump Palace – 18101 Collins Avenue | 32 of 275 or 12%| Ave List Price $1.170M | Ave PPSF $595
• Trump Royale – 18201 Collins Avenue | 20 of 384 or 5%| Ave list Price $1.018M | Ave PPSF $538
• Trump Tower I- 16001 Collins Avenue | 23 of 271 or 8%| Ave List Price $1.217M | Ave PPSF $524
• Trump Tower II – 15901 Collins Avenue | 7 of 271 w/Developer units remaining | Ave List Price $1.062M | Ave PPSF $459
• Trump Tower III – 15850 Collins Avenue | Not Yet Released to Public
• Sayan- 16275 Collins Avenue | 22 of 88 or 25%| Ave List Price $1.075M | Ave PPSF $538
• Ocean Four – 17201 Collins Avenue | 45 of 281 or 16%| Ave List Price $922k | Ave PPSF $468
• Ocean Three – 18911 Collins Avenue | 27 of 215 or 13%| Ave List Price $1.110M | Ave PPSF $449
• Ocean Two – 19111 Collins Avenue | 20 of 254 or 8%| Ave List Price $1.071M | Ave PPSF $460
• Ocean One – 19333 Collins Avenue | 8 of 241 or 3%| Ave List Price $862K | Ave PPSF $368
• Millennium – 18671 Collins Avenue | 6 of 120 or 5%| Ave List Price $1.082M | Ave PPSF $498
• Pinnacle – 17555 Collins Avenue | 28 of 244 or 11%| Ave List Price $984k | Ave PPSF $484
• La Perla- 16699 Collins Avenue | 39 of 326 or 12%| Ave List Price $614k| Ave PPSF $412

Ave. Price Per Square Foot on Condos SOLD within the last 6 months, Sale Price to List and # Days On Market

• Acqualina- 17875 Collins Avenue | 4 Closed Sales at $677 PSF (1% increase in PPSF since 3Q 2009) | 86% SP/LP | 426  DOM
• JADE Beach- 17001 Collins Avenue | 5 Closed Sales at $427 PSF (14% increase in PPSF since 3Q 2009) | 86% SP/LP | 196 DOM
• JADE Ocean- 17121 Collins Avenue | Released (TCO) June 2009 with No Closed MLS resales
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 5 Closed Sales at $679 PSF (23% decrease in PPSF since 3Q 2009) | 92% SP/LP | 291 DOM
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 3 Closed Sales at $648 PSF (23% increase in PPSF since 3Q 2009) | 95% SP/LP | 207  DOM
• Trump Palace- 18101 Collins Avenue | 8 Closed Sales at $490 PSF (8% increase in PPSF since 3Q 2009)| 90% SP/LP | 118 DOM
• Trump Royale – 18201 Collins Avenue | 6 Closed Sales at $496 PSF (9% increase in PPSF since 3Q 2009) | 91% SP/LP | 227 DOM
• Trump Tower I- 16001 Collins Avenue | 4 Closed Sales at $399 PSF (3% increase in PPSF since 3Q 2009) | 86% SP/LP | 206 DOM
• Trump Tower II – 15901 Collins Avenue | 3 Closed Sales at $385 PSF | 87% SP/LP | 174 DOM
• Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales
• Sayan- 16275 Collins Avenue | 5 Closed Sale at $331 PSF | only 1 resale last year at $308 PSF | 92% SP/LP | 416 DOM
• Ocean Four – 17201 Collins Avenue | 9 Closed Sales at $365 PSF (1% decrease in PPSF since 3Q 2009) | 100% SP/LP | 128 DOM
• Ocean Three – 18911 Collins Avenue | 7 Closed Sales at $343 PSF (3% decrease in PPSF since 3Q 2009) | 91% SP/LP | 109 DOM
• Ocean Two – 19111 Collins Avenue | 8 Closed Sales at $415 PSF (7% increase in PPSF since 3Q 2009) | 87% SP/LP | 128 DOM
• Ocean One – 19333 Collins Avenue | 5 Closed Sales at $322 PSF (10% increase in PPSF since 3Q 2009) | 90% SP/LP | 193 DOM
• Millennium – 18671 Collins Avenue | 3 Closed Sales at $464 PSF (28% increase in PPSF since 3Q 2009) | 95% SP/LP | 157 DOM
• Pinnacle – 17555 Collins Avenue | 6 Closed Sales at $373 PSF (6% increase in PPSF since 3Q 2009) | 81% SP/LP | 540 DOM
• La Perla- 16699 Collins Avenue | 13 Closed Sales at $331 PSF (6% decrease in PPSF since 3Q 2009) | 92% SP/LP | 102 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach condo inventory is down hovering 1,000+ total condos for sale while property values have increased considerably as International & domestic buyers note the 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 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 time to buy Miami Beaches as long as you & the family will use it and enjoy it for at least the next 3+ years.

Selling or Leasing Your Condo? Are you trying to sell or lease with no results, communication, market value updates, aggressive marketing & overall progress.. Call or email for a personalized market report and global marketing plan surely to gain proper exposure for your condominium. Let’s get started 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 12% 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!

Good news regarding Miami real estate.

Statistic for the month reflect 4,263 total condos for sale along the oceanfront communities of South Beach to Sunny Isles, down 19% over this time last year:

South Beach Condos – 1,590 for sale | 85 Sales in last 30 days | Average Days on Market 141 | Average Buyer Discount 6% | Average PPSF Asking $385/Sold $349

Miami Beach Condos – 1,159 for sale | 58 Sales in last 30 days | Average Days on Market 143 | Average Buyer Discount 3% | Average PPSF Asking $312/Sold $285

Bal Harbour Condos – 224 for sale | 3 Sales in last 30 days | Average Days on Market 132 | Average Buyer Discount 10% | Average PPSF Asking $511/Sold $445

North Bay Village Condos – 238 for sale | 14 Sales in last 30 days | Average Days on Market 98 | Average Buyer Discount 2% | Average PPSF Asking $135/Sold $129

Sunny Isles Beach Condos – 1,052 for sale | 46 Sales in last 30 days | Average Days on Market 140 | Average Buyer Discount 8% | Average PPSF Asking $276/Sold $245

Video is related to Downtown Miami which is also improving in condo sales; see Lucas Lechuga’s MiamiCondoInvestments.com for Downtown & Brickell results. For more information along the Miami beaches call me toll free at 1.888.383.7326.

Have we seen the bottom of the Sunny Isles Beach condo market and when was it exactly? Is this the “bouncing bottom” or did “rock bottom” hit already with continued improvements in 2010 as Sunny Isles condo inventory decreases? I’ve been wanting to know this too and we’ll soon discover Sunny Isles Beach condo pricing trends over the past 2.5 years and onwards as this year continues..

Sunny Isles Beach (159th to 193rd Streets) MIAMI Condo Pricing Trends:

2008 (559 total sales | Average SP/PSF $414)

2009 (668 total sales | Average SP/PSF $235)

2010 (so far.. 265 sales | Average SP/PSF $234)

So far this year, there have been 120 condo sales out of 1,061 total Sunny Isles Beach condos. Last year there were 665 total sales. What I’m looking at with you here are the number of buyers given certain pricing bands from January 1st 2009 to March 15th 2010. It’s simply used to show us where the activity is concentrated on “real” buyers.

$249 less – 469

$250-499k – 126

$500k-799k – 93

$800k-$999k – 34

$1M-$1.499M – 37

$1.5M-$1.999M – 14

$2M-$3M – 8

$3M-$4M – 1 with the record high sale at Acqualina #3003 which set a Sunny Isles Beach condo sales record at $3.1M (cash) or $702 psf (November 2009)

Are you trying to sell your Sunny Isles Beach condo? Contact me here and let’s go over the tried & true marketing plan in getting your condo sold! 1.888.383.7326

News is arriving of a new proposal to add a mega aquarium known as the Wometco Aquatic Center and a destination park in the vicinity of Sunny Isles Beach Boulevard & Collins Avenue. The arrangement is between the City of Sunny Isles Beach and the highly reputable real estate developer J. Milton & Associates which is the mastermind behind Sunny Isles Beach projects such as Pinnacle, King David, Sayan and the new St. Tropez. J. Milton came up with the idea and this Sunny Isles Beach aquarium would give the city a mega boost as a tourist destination plus the St. Tropez condo tower will boast a major new amenity.

J. Milton is a visionary developer.. He sees the finalization of the St. Tropez luxury condominium, the high-end retail shopping it will attract below, this new Wometco Aquatic Center and the magnitude for Sunny Isles Beach. J. Milton knows what this desirable combination will do for the St. Tropez demand and the growing City of Sunny Isles setting a new milestone for the resort destination and premier location. St. Tropez opened with the C.O. last year on waterfront land across from the ocean and adjacent to the proposed park offering 3 intimate towers at approximately 60% sold with developer financing and great buyer incentives. The park, aquarium and complex should be finalized by 2013.

“St. Tropez residents would be steps away from a lush park elevated high enough to afford water views. The plan commissioned by the Coral Gables developer would transform a strip mall near Collins Avenue and Sunny Isles Boulevard into an elevated park with shops, restaurants and an aquarium run by the owner of the Miami Seaquarium. Sunny Isles spent about $20 million acquiring the land over the last two years, including a $1.5 million parcel owned by J. Milton. Sunny Isles expects to spend an additional $15 million building the park and a 350 car underground parking garage. An open air movie theater would mark the western end of the complex, with broad steps resembling a Mayan temple leading to the glass walled aquarium and retail center. Plans call for street level shops and two restaurants. A three-story reef tank would be the main attraction inside. The two upper floors would house enough banquet space for 1,000 people, said architect Eduardo Castiñeira of Miami’s Axioma3.” - MiamiHerald

St. Tropez Condos for Sale | St. Tropez Condos for Rent

Related Group was bought out by Dezer Properties selling at new, discounted prices..   I decided to take the forbidden tour of the Trump Towers Sunny Isles Beach in January after years of stressful phone calls from speculators trying to sell & get out. To top it off, the news came from every direction of the Dezer family buying out Related’s stake in the entire project assuming the remaining debt after paying off Tower I. After seeing the finishes both condo interior and throughout, noting the well appointed amenities & hearing what had occurred with financial backing by the lender for the next 4 years, I’m now promoting it with all the other Sunny Isles Beach ”greats“ to clients & customers looking for the very best values on new oceanfront construction. Here are the interesting facts on the buyout..

Following months of negotiations with lenders, Dezer Properties assumed the former partnership’s $265 million loan on Dec. 31, 2009 with the bank then renegotiating the construction loan with Dezer Properties directly after seeing successful performance from Tower I sales allowing Dezer to then lower the prices by 30% and now causing a success of new sales in Trump Tower II.  Tower II was relaunched to the public as the premier tower of the three offering an onsite restaurant with an oceanfront setting and great food along with 2 swimming pools to choose from depending on which side of the bed you wake up on.

 The Dezer’s are the real estate moguls & godfather of Sunny Isles Beach condo development. The Dezer family owned business holds 45 acres of oceanfront land in Sunny Isles Beach, with sites for eight more buildings. Gil and father Michael Dezer have also developed and almost sold out Trump Grande in Sunny Isles Beach, a three building premium oceanfront enclave that includes the Trump International Beach Resort built in 2003, the Trump Palace (2006) and the latest Trump Royale (2008) which is now 60+ percent sold out. In addition to their South Florida properties, the Dezers’ holdings include 27 buildings in New York.

“Prices now range from $350 per square foot for most units to $600 a square foot for penthouses. Each of the three 45 story towers has 271 units. Tower I has 260 units sold, and Tower II is about 40 percent sold with 105 sold, Dezer said. During the next two to three months, Dezer will send out closing notices to those who put down deposits on Tower III, and give them the option to move over at a reduced price to Tower II. Tower III was sold out at an average price of $720 per square foot, with some sales at more than $1,000 a square foot!“    - MiamiHerald

 We’re seeing the very best value on a price per square foot basis at $350-$600psf as the low end price point of the luxury oceanfront condos are now reflective along the Miami Dade Beaches.. Sunny Isles Beach real estate specific to condo inventory, has seen a decrease in inventory consistently with 1,053 total condos on the market (Southeast Florida Regional MLS) with 272pending contracts, 96 of which went pending in the last 30 days. Our Sunny Isles Beach short sales are comprised of 193 (18%) condos down from 33% a year ago. Bank owned REO’s make up only 13 Sunny Isles Beach foreclosures or 0.01%. Call to chat 1.888.383.7326 or Contact me here.

Trump Towers Sunny Isles Condos for Sale | Trump Towers Condos for Rent

Shaky but Worthy; Sunny Isles Beach Video (2008)

Edition #5 of the 2010 Sunny Isles Condo Index

I’ll be reviewing & comparing the luxury oceanfront market from the 1Q 2009 Sunny Isles Condo Index to today’s updated 1Q 2010 Sunny Isles Condo Index including premier oceanfront towers such as Turnberry Ocean Colony, Acqualina, JADE Beach, Trump Palace, Trump Royale, Ocean 4, Sayan, Ocean One, Two & Three, Pinnacle & Millennium and now including JADE Ocean. I’ve excluded condo hotel properties from this study including the Trump International Beach Resort, Le Meridian (now known as Merenas Resort), Ocean Point and Sole.

Sunny Isles Beach (1Q 2010) Condo Index…

As of January 25th, we are noting 1,055 total condos for sale in Sunny Isles Beach down 17% from July 2009 and 28% from this time last year. So far, there have been 27 total closed sales (ALL figures are derived from the Multiple Listing Service MLS on JAN 25th, 2010) this year. What will be analyzed in this post are statistics & trends for the most desirable luxury towers along the coast 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 Collins Avenue | 17 of 247 or 7%| Ave List Price $2.186M | Ave PPSF $775
• JADE Beach (99% Closed as per County records) - 17001 Collins Avenue | 41 of 248 or 17%| Ave List Price $1.439M | Ave PPSF $642
• JADE Ocean- (80 rec. deeds per County records) – 17121 Collins Avenue | 4 of 250 or 2% | Ave List Price $2.107M | Ave PPSF $765
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 12 of 130 or 9%| Ave List Price $2.598M | Ave PPSF $799
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 17 of 130 or 13%| Ave List Price $2.274M | Ave PPSF $747
• Trump Palace – 18101 Collins Avenue | 29 of 275 or 11%| Ave List Price $1.329M | Ave PPSF $629
• Trump Royale – 18201 Collins Avenue | 19 of 384 or 5%| Ave list Price $1.124M | Ave PPSF $565
• Trump Tower I- 16001 Collins Avenue | 29 of 271 or 11%| Ave List Price $1.135M | Ave PPSF $487
• Trump Tower II – 15901 Collins Avenue | 9 of 271 w/Developer units remaining | Ave List Price $927k | Ave PPSF $433
• Trump Tower III – 15850 Collins Avenue | No MLS records
• Sayan- 16275 Collins Avenue | 22 of 88 or 25%| Ave List Price $1.211M | Ave PPSF $572
• Ocean Four – 17201 Collins Avenue | 40 of 281 or 14%| Ave List Price $997k | Ave PPSF $508
• Ocean Three – 18911 Collins Avenue | 28 of 215 or 13%| Ave List Price $1.142M | Ave PPSF $459
• Ocean Two – 19111 Collins Avenue | 19 of 254 or 7%| Ave List Price $1.096M | Ave PPSF $479
• Ocean One – 19333 Collins Avenue | 8 of 241 or 3%| Ave List Price $728K | Ave PPSF $330
• Millennium – 18671 Collins Avenue | 6 of 120 or 5%| Ave List Price $1.015M | Ave PPSF $446
• Pinnacle – 17555 Collins Avenue | 45 of 244 or 18%| Ave List Price $960k | Ave PPSF $494
• La Perla- 16699 Collins Avenue | 39 of 326 or 12%| Ave List Price $654k| Ave PPSF $430

Ave. Price Per Square Foot on Condos SOLD within the last 6 months, Sale Price to List and # Days On Market

• Acqualina- 17875 Collins Avenue | 4 Closed Sales at $673 PSF (7% increase in PPSF since 1Q 2009) | 88% SP/LP | 247  DOM
• JADE Beach- 17001 Collins Avenue | 2 Closed Sales at $427 PSF | 89% SP/LP | 89 DOM
• JADE Ocean- 17121 Collins Avenue | Released (TCO) June 2009 with No Closed MLS resales
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 8 Closed Sales at $679 PSF (22% increase in PPSF since 1Q 2009) | 86% SP/LP | 143 DOM
• Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 7 Closed Sales at $499 PSF (26% decrease in PPSF since 1Q 2009) | 90% SP/LP | 195  DOM
• Trump Palace- 18101 Collins Avenue | 3 Closed Sales at $450 PSF (19% decrease in PPSF since 1Q 2009)| 86% SP/LP | 162 DOM
• Trump Royale – 18201 Collins Avenue | 3 Closed Sales at $451 PSF | 95% SP/LP | 111 DOM
• Trump Tower I- 16001 Collins Avenue | 2 Closed Sales at $386 PSF | 78% SP/LP | 493 DOM
• Trump Tower II – 15901 Collins Avenue | No Closed MLS Sales
• Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales
• Sayan- 16275 Collins Avenue | 0 Closed Sale at $N/A | only 1 resale last year at $308 PSF | 86% SP/LP | 84 DOM
• Ocean Four – 17201 Collins Avenue | 15 Closed Sales at $367 PSF (5% decrease in PPSF since 1Q 2009) | 94% SP/LP | 228 DOM
• Ocean Three – 18911 Collins Avenue | 2 Closed Sales at $353 PSF | 94% SP/LP | 316 DOM
• Ocean Two – 19111 Collins Avenue | 7 Closed Sales at $384 PSF | 91% SP/LP | 175 DOM
• Ocean One – 19333 Collins Avenue | 3 Closed Sales at $291 PSF | 86% SP/LP | 288 DOM
• Millennium – 18671 Collins Avenue | 3 Closed Sales at $336 PSF | 81% SP/LP | 101 DOM
• Pinnacle – 17555 Collins Avenue | 6 Closed Sales at $351 PSF | 97% SP/LP | 234 DOM
• La Perla- 16699 Collins Avenue | 15 Closed Sales at $354 PSF (2% decrease in PPSF since 1Q 2009) | 91% SP/LP | 127 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach inventory is decreasing month over month while property values have also dropped considerably causing more sales to occur. The majority of oceanfront towers now have healthy inventory figures as shown above with anything less 15%. Each building tells a different story and the bottom line is you cannot go wrong in 2010 with oceanfront real estate as long as you & the family will use it and enjoy it for at least the next 2 years.

Sellers, are you attempting to sell with little communication on values, marketing & progress…? Call me for a personalized market report for your condo and let’s get started today. Buyer’s ready for a great buy? Call or email for the very best deals along Sunny Isles Beach, Bal Harbour & South Beach. The buyer advantage is still selection & leverage but we are again seeing multiple cash offers driving up values again on the lower end residential market. As inventory decreases I believe prices will start to show favor for stabilization if it hasn’t already.. If you’d like to receive local Miami Beach FL real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper right column) or by email above each time a new posting occurs. Visit JADECondosSunnyIsles.com website & Blog relaying great information on JADE Beach & JADE Ocean and the brand new TurnberryOceanColonySunnyIsles.com website & blog! The truth is in the numbers 1.888.383.7326 and I welcome your knowledge, comments & feedback here. South Beach to Sunny Isles Real Estate Sales & Marketing.

Happy New Year friends and this will be post #1 of 2010. Here’s a shocking new thought for 2010… Just because it sold for that price in 2008 & 2009, does it mean you can buy it for that price today? It seems to be happening again and again as inventory decreases.. Will there be a tough time understanding & coping just opposite to the seller reluctancy seen in 2007 as the Miami Beach real estate market came to a standstill?

The buying window of opportunity in “catching the bottom” may be leaving in 2010. My 2010 forecast will be coming in the next few posts as I discuss market stats, trends and the direction this year could go in as relay that NOW is the time to find the bottom of South Beach to Sunny Isles Beach. Sale to List Price Ratio have jumped from 88% to 92%.

On the flipside, we will always find opportunities so if you wait this year to watch I am certain you can find the “deal.” Some buildings are already seeing appreciation. Space 01 for example went up 23% in the last 90 days! 11 Island Avenue has gone up 13% in the last 6 months. Roney Palace is on the direction up and more (FNMA Financing now Approved) to come..

Many would consider condo deals to be under ie) $250k but from $150 to $5.5M, here are my top choices for January 2010 in which I expect sales to occur within the next 60-90 days. I have previewed the majority with customers and these have been the top choices.. these links are LIVE so we’ll all soon find out once the Status changes from Active to Pending to Closed.

• #1 $199k – Indian Creek Club Marina #6F (Short Sale)
• #2 $299k – Bay View Loft #206 (Approved Short Sale)
• #3 $439k - Roney Palace #1539
• #4 $445k – Oceania V #1852 (Corporate Owned)
• #5 $480k - La Perla #3406 (Approved Short Sale)
• #6 $649k – Trump Palace PH5103
• #7 $1.350M – Trump Palace #4902
• #8 $1.399M – Ocean Four #1101
• #9 $3.690M – Jade Ocean D2 (Flow Through only 1 of 2) Penthouse
• #10 $5.395M - Il Villaggio #1405

Preview Daily Updates on Miami Beach | Sunny Isles Condo Deals & Repos

Photo by Alexia Fodere

Say you’ve just purchased a prime piece of Sunny Isles Beach real estate. Now, let’s also say you have a spot in your gorgeous new luxury condo that just cries out for a big piece of art. You know, the kind that makes a real statement about who you are and what you’re all about.

What do you do?

Do you wander down to your local gallery in search of the ideal painting or sculpture to compliment your décor?

Do you perhaps commission a local artist to create something just for you?

You could.

Or you could have your car mounted on your wall.

That’s exactly what Trump Palace resident Gil Dezer, whose company also happened to develop the building, has done.

The thing is, 34-year-old Dezer really, really loves Porches. He owns eight of them. But apparently, his 1950 Porsche Spyder 550 is a lot more fun to look at than it is to drive. In fact, it’s so much fun to look at; he considers it a work of art.

So when he was told his new, 8,000 square foot condo needed a piece of art, Dezer knew he already had just the thing to fit the bill.

Of course, hanging a car on your wall isn’t like hanging any other work of art. You can’t just hammer a couple of nails in and try to balance it on a side-view mirror. And as you might imagine, they don’t make heavy duty picture hooks strong enough to support a motor vehicle – even a two seater!

Luckily, Dezer was already in the right business to get this particular job done. He commissioned a local construction company, Coastal Construction, for the job. And while it took six months of planning, engineering and even a crane, the actual job only took a few hours.

And Dezer now has a Porsche hanging over his front door.

Who knows what might be hiding behind (or over) the doors of Miami’s other luxury condos and homes? We’ll keep you posted…

by Lisa Canfield

St. Tropez Sunny Isles Beach

I had a spur of the moment urge to preview St. Tropez Condos in Sunny Isles this weekend and was overly impressed with not only the grounds but the pricing and confidence the developer has in them. Only 18 to 20 condos remain in each building (of 80 units per tower) with a select few having special developer default pricing. The price points range from $315 to $400+ per square foot and the majority of condos are 1,670 square feet. Spanning the Intracoastal waterway (600 lineal feet) along the final stretch before the Atlantic Ocean meets Sunny Isles Beach Boulevard, St. Tropez is definitely a building to appreciate. Below are a few of my favorite photographs from the tour.

St. Tropez Media Library

St. Tropez Front Entryway

Model Living Area

St. Tropez Kitchen

As you can see (more photos here on Flickr) it’s an amazing property by one of the most financially stable developers J. Milton & Associates who brought us Sayan, Pinnacle, King David and with C.O. in place, has so much to offer with with this new 3 tower complex. The location is awesome offering a Mediterranean shopping area with upscale dining, shopping meccas and the new City of Sunny Isles Towne Center worth Millions. The amenities include a Versace inspired clubhouse, state of the art gymnasium and featuring an oversized sauna and steam room plus an outdoor relaxation area complete with an enclave of sun beds and gardens. Call me for additional information or to preview the residences at 1.888.383.7326!