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.

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

What’s happening in Sunny Isles Beach and where are these great deals? With 225 luxury condos priced over $1M, where would one begin? In looking at new construction from 2005 and on the inventory falls to 175 with ZERO bank owned and surprisingly only 5 short sales. I’m going to begin looking at the lowest possible price per square foot and start with $500 in which we see the inventory drop to TWENTY! In continuing to weed out the bad from the good, I’ll eliminate 3 at Oceanika Villas which hasn’t even broke ground yet leaving 17 top potentials.

Sunny Isles Beach Condo Deals Here

Price Bands of # of condos for sale in Sunny Isles Beach

>$250 – 366

$250 – $499k – 283

$500 – $749k – 167

$750 – $999k – 131

$1M -$1.999M – 176

$2M -$2.999M – 31

$3M -$3.999M – 11

$4M -$4.999M – 6

$5M -$5.999M – 2

Total – 1,173

What’s happening in the luxury tier of closed condo sales of Sunny Isles Real Estate? As of the last 90 days, 13 luxury oceanfront condos have sold in the price ranges of $1M to $4.999M. Interesting to note that only 1 of 13 closed above $2M showing where real buyers are prepared to go financially given the current market. Leading the pack was Acqualina with the record high sale and a staggering 37% discount off list price ($7.9M). Additional highlights show Turnberry Ocean Colony leading with the highest number of condos closed at 7. Ocean Four, Jade Beach, Trump Tower I, Trump Palace fall in line respectively. Average selling price per square foot is $499. Average days on market at 177 and the average Sale to List Price is at 89%.

Price Bands of # of condos SOLD (last 90 days) in Sunny Isles Beach

>$249 – 87

$250 – $499 – 26

$500 – $749k – 14

$750 – $999k – 11

$1M – $1.999M – 11

$2M – $2.999M – 1

$3M – $3.999M – 0

$4M – $4.999M – 1

$5M – $5.999M – 0

Total - 151

Sunny Isles Beach Condos For Sale vs. Sold

Sunny Isles Beach Months of Inventory

These graphs show the inventory trends and closed sales moving in the right direction for recovery. If these graph trends stay relative we could begin to see solid stabilization next year. The inventory still reflects a 25 month supply so there are great buying opportunities as seller’s still have strong competition and duration concerns when liquidity in selling is a must. Inventory has dropped from 41 months to 25 months, while closed sales have doubled over this time last year! In summary, still a good inventory selection with trends showing favor to “local” market improvement… we’re looking good Sunny Isles!~ Want more information on Sunny Isles Beach condos for sale or have insights & opinions, leave a comment below for the readers to see.

Sunny Isles Beach Florida's Riviera

The City of Sunny Isles has flourished in recent years as new Sunny Isles real estate projects have aided in the renaissance including Trump’s 6 towers, Turnberry Ocean Colony, Acqualina, Jade Ocean, Jade Beach, Ocean Four, III, II, I, Sayan, Pinnacle, La Perla and many others evolving since the late 90′s. Luxury oceanfront condos and luxury resorts span the entire coastline now while in recent years, this desirable location has seen an increase in European, Latin American, Canada and Russian visitors and residents, as well as younger residents with an upscale living environment. Sunny Isles Beach offers everything from beautiful sandy beaches and world class resorts & spas to great shopping and dining. Visitors and residents enjoy the best of both worlds having traditional conveniences and the friendliness of a small town, with the sophistication & perks of a major metro area plus the fun of being right on the beach. Today, Sunny Isles Beach is a top travel destination in the U.S. offering both luxury resort vacations as well as affordable family vacations. Local residents and tourists alike can hop over the William Lehman Causeway to discover one of the Nations top grossing shopping destinations, the Aventura Mall or drive 10 minutes south into Bal Harbour for a taste of premier shopping boutiques including Saks, Chanel, Escada, Prada, Hermes, Christian Dior, Giorgio Armani and many more at the Bal Harbour Shops. Great restaurants in Sunny Isles are abundant with Neomi’s at the Trump Beach Resort, Kitchen 305 at Newport Hotel, The Pelican at the Pier (oceanfront at 166th Street), Lotus (Russian!), San Telmo (Argentinian!), La Terrazza (Italian!) and sooo many others. Come visit Miami for a temporary vacation stay or look to find a great condo deal now being acquired for new savvy buyers looking to call Sunny Isles Beach home.

Click here to explore Sunny Isles Beach condos or call toll free 1.888.383.7326 for related information.

Sunny Isles & Miami Beach Luxury Condo Anlaysis within the price band of $500,000 to $1.2M.

In my opinion, these are the most attractive condos priced well along the ocean in April within this price band from $500k to $1.2M.

All estimates are based on asking prices with market average sale to list price at 88%. Rental service fees were not included (tax deductible expense) and range from 10% gross to 1 month rental income.

Tax estimates are derived from Miami Dade County Tax Estimate website here. Year 1 tax estimates are prorated on current owners tax amount due and reassessed on year 2 based on area sales+sale price.

All rental values are my best valuation based on recent comparable rentals a conservative estimate. Rental income can vary on building, season, competition and these figures are my best estimate for a rental occurring under the average days on market.

Figures derived from MLS (SEF Multiple Listing Service) and IMAPP Database with final estimates assuming there is no mortgage on the property. Click on the property link for more information.

• JADE Beach Condo #1208 -M1290095

• Sayan Condo #2001 -D1274485

• Trump Palace #PH5202 -M1295143