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!

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 and although a steady confidence builds, the month of August proved it to be so…

Statistics for the month reflect 4,514 total condos for sale along the oceanfront communities of South Beach, Miami Beach, Bal Harbour, North Bay Village and Sunny Isles Beach and down 8% over this time last year; up 1% over last month:

** South Beach Condos: 1,673 for sale | 60 Sales in last 30 days | Average Days on Market 145 | Average Buyer Discount 7% | Average PPSF Asking $371/Sold $333

** Miami Beach Condos: 1,229 for sale | 46 Sales in last 30 days | Average Days on Market 127 | Average Buyer Discount 7% | Average PPSF Asking $285/Sold $259

** Bal Harbour Condos: 225 for sale | 11 Sales in last 30 days | Average Days on Market 161 | Average Buyer Discount 10% | Average PPSF Asking $384/Sold $341

** North Bay Village Condos: 243 for sale | 17 Sales in last 30 days | Average Days on Market 102 | Average Buyer Discount 5% | Average PPSF Asking $139/Sold $129

** Sunny Isles Beach Condos: 1,144 for sale | 37 Sales in last 30 days | Average Days on Market 159 | Average Buyer Discount 5% | Average PPSF Asking $256/Sold $235

This video on the Today Show caused many web visitors to try and search for Miami Beach and South Beach Florida condo opportunities under $50,000, only to be greatly disappointed. Whether it be the lack of true condo inventory under $100k, quality of property, the taxes or the monthly fees, most were a bit mislead on 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.

June 2010 – Real Estate Statistics for the Miami Beaches

Visit msnbc.com for breaking news, world news, and news about the economy

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