JADE Beach, JADE Ocean, JADE Signature Condo Sales, Statistics, Inventory | November 2014
Sunny Isles Beach Luxury Condo Sales & Statistics
Prices are still increasing in our local market as we see in the most recent Sunny Isles Condo Index. Since the last JADE update in June, we find select inventory appreciating in value and new construction stepping in with values beginning at $1,400 – $2,000+ per square foot. Sunny Isles Beach condo inventory has increased to 827 total condos for sale and 200 closed sales in the last 90 days. Last year 387 Sunny Isles oceanfront condos over $500,000 USD sold through our MLS database with an average selling price per square foot of $617. As of November 2014, 300 Sunny Isles Beach condos have sold with an average sale price per square foot at $686 SP$/PSF. In a contrast comparison of luxury oceanfront condos on Collins Avenue and priced over $1M, we see 271 condos for sale with 177 closed sales this year averaging a sales price per square foot of $799 SP$/SF and selling at 93% of list price.
If we take the top 10 luxury condo sales from the last 90 days, we find an average sales price per square foot of $1,145 (9% increase from $993 previous post) and an average asking price per square foot of $1,255 psf reflecting an average 9% discount for new buyers shopping for luxury real estate in Sunny Isles Beach. These Top 10 Sunny Isles Beach luxury condo sales were found at JADE Ocean with 4 sales reflecting $1,259, $1,278, $1,355 and $1,397 per square foot. Other luxury sales came from Ocean Two selling a high floor 3 bedroom at $1,236 PSF, Trump Palace & Trump Royale selling at $969 and $928 per square foot respectively. Trump Tower III & I also had sales at $1,059 & $956 PSF. Turnberry Ocean Colony (South) had a great sale at $1,016 to finalize these Top Ten recent sales.
Sunny Isles Beach oceanfront real estate market values are noting considerable price gains over these last 5 years and what the future holds, time will tell. With new projects, preconstruction and condo developments, Sunny Isles Beach condo inventory is increasing while sale to list price ratios are averaging 95% and 145 days on the market. One thing is for certain with the new construction (Jade Signature) on the South side of Jade Beach and on the North side (MUSE) of Jade Ocean. The 01 and 08 lines respectively are in trouble as more & more owners decide they don’t want to deal with the view obstruction and the ongoing & upcoming noise. These new towers are certain to jeopardize resale values during the development stage while residents undergo considerable noise, dust and new disgruntled competition. I’ll be reporting on trends and values from the 01 line and 08 lines directly facing these new construction towers very soon. Again, Jade Signature to the South and MUSE to the North. While short term concerns have many alarmed, smart long term buyers will see past the noise and towards the future of Sunny Isles as values could climb much higher, as long as the views are not completely obstructed. The ‘new views’ will be considered East & West alone as the urban transformation allows no other option within these end lines.
JADE Sunny Isles Condos Trends & Sales 2014
JADE Beach Condo Inventory, Sales & Rentals
(17001CollinsAvenue.com) There are a total of 20 (10% inventory) JADE Beach resale condos ranging in values from $890,000 (B1 Model) to $10M. TWO impressive 3-Story JADE Beach penthouse ‘Sky Lofts’ are available today at $9.595M & $10M. Each interior is over 8,200 SF (Contact me for the floor plans).
JADE Beach condos have been in demand given the most desirable location & value with a luxury lifestyle expected & experienced in Miami. The average JADE Beach list price per square foot is reflecting $1,218 psf (Up 2% from June Stats) with the 90-day average selling price per square foot reflecting $899 at 187 days on market and an 94% sale to list price ratio (6% average buyer discount). JADE Beach condo sales for 2013 reflect 24 resales from $720k (B1 Model at $835psf) to $7.450M (I Model penthouse at $907 per square foot) setting a record high in JADE Beach ‘sale price’ values. Last year’s average selling price per square foot reflects $902 at 121 days on market and an 93% sale to list price ratio. So far in 2014, we have 18 sales averaging $1,004 per square foot and 123 days on the market with a 7% buyer discount. $1,190 per square foot is the record high sale value for 2014.
In November, there are 13 JADE Beach condos for rent ranging in asking prices from $4,250 (B2 model) to $20,000 (4BR, E Model). This year, 12 Jade Beach condos rented, ranging in rented values from $3,053 (B1 Model) to $19,000 (Furnished E Model).
JADE Ocean Condo Inventory, Sales & Rentals
(17121CollinsAvenue.com) JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach with what remains to be a great desire & demand. JADE Ocean has 30 condo resales available today with the high prices on 3 spectacular 2-Story Jade Ocean Trophy properties and “sky lofts” listed from $5.895 to $6.499M with 4-6 Bedrooms and from 3,866+ to over 5,000+ square feet. There are only 2 mirrored image ‘Sky Loft’ units per Model in each JADE building and few other penthouses quite comparable in Sunny Isles Beach. The lowest priced resale condos today begin with a high floor B1 model priced from $980,000.
JADE Ocean’s average asking price per square foot is at $1,470 ($1,444 in June & $1,482 psf January) and today’s buyers are finding the larger model floor plans most attractive setting new record highs at $1,288 PSF for the E Model. This year, 8 sales have occurred from $1.030M (B1 Model) to $7.070M (Jade Ocean Penthouse). Unit #3601 sold last December at $3.4M setting a new record high for JADE Ocean. 2013 Selling price per square foot averaged $1,018 while selling at 93% of list and 136 days on market. As of 2014, the average selling price per square foot is up 8% in appreciation reflecting $1,267 with 162 days on market and buyers getting an averaged 8% discount off asking values.
There are 12 JADE Ocean rentals listed in November with prices ranging from $4,200 (B1 Model) to $35,000 for a furnished 4 bedroom. This year 12 condos have rented ranging in values from $4,700 (B1 model) to an E Model renting at $15,900 and beautifully furnished.
JADE Ocean & JADE Beach interior differences are not so significant other than kitchen counter finishes (Granite vs. Quartz), slightly better floor plans along with the amount of glass encompassing the walls throughout. Other amenity differences are shown through photos & videos here. While some prefer JADE Beach as a place to call home, JADE Ocean condos have always sold on a higher price point offering clear advantages to some in amenities & lifestyle.
JADE Signature Condo … coming soon
(16901 Collins Avenue) JADE Signature is on its way in making History for luxury + function + lifestyle in Sunny Isles Beach. The concerns that owners addressed with both Jade Beach & Jade Ocean have now been confronted & cleared at Jade Signature with incredible floor plans offering desirable open outdoor living environments. Construction is ongoing with groundbreaking commenced and the crew working full force in the progress of the final addition to the JADE Sunny Isles Condo Trio.
More to come soon but today’s prices are over $1,400 per square foot increasing with a graduated scale as sales continue.. All 1 bedrooms have sold out (with a waiting list to buy) while only larger 3+ bedrooms remain. To buy a condo today at JADE Signature, call me for available pricing #305.978.7704 or inquire here Jade Signature Condos for Sale.
List Your Properties with Ashton Coleman
Time to Showcase Your Condominium to the World. I provide strong International exposure with global marketing and an Internet savvy style like no other. Local market knowledge goes a very long way as customers want to know the market conditions in Sunny Isles Beach. I have a proven track record along the Miami Beaches and I’m available to market your JADE property effectively right here on the JADE Condos authority website & blog plus my many other websites displayed below. Additionally, I’m with ONE Sotheby’s International Realty with a prestige, exposure and marketing channels that are beyond the extraordinary. For further details on a superior marketing strategy and efficient results whether selling or leasing your oceanfront condo, reach out to me today and let’s begin.
If you would like to discuss Miami real estate, please call me direct at #305.978.7704. I’m a Miami area real estate specialist with over 12 years of experience. Since 2002, I’ve marketed, sold & serviced Sunny Isles Beach to South Beach along with Aventura to Coral Gables. When you’re ready to schedule a meeting with me, contact my office at 786.27.DREAM or toll free at 888.38.DREAM to make an appointment or simply send me a note here.
In 2010, I released a new addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com to replicate the success and fun I’ve had with the JADECondosSunnyIsles.com authority website. Price points at Turnberry Ocean Colony dropped approximately 20% in 2009 alone and showed us sales as low as $1M in 2009 while sale prices today have increased significantly with an exceptional market turnaround. Here you’ll also find new updates, videos & detailed statistics at the Turnberry Ocean Colony blog.
The original MiamiDreamRealty.com is a major performer showcasing the entire luxury Southeast Florida MLS listing database and over 250 Miami condo buildings (500+ customers daily) while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access contains very accurate JADE Condo listings for anyone looking to buy or rent. 2014 statistics have show us the fact of continued appreciation in condo sales with trends showing Miami to be a very strong market. Stay tuned to the JADE Blog and other authority websites below!
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