Sunny Isles Beach Condo Sales & Statistics
Prices are still
elevated up in our local market but the market has shifted as we find in the most recent Sunny Isles Condo Index. Sunny Isles Beach condo inventory has increased to 1,352 total condos for sale and 135 closed sales in the last 90 days averaging $431 per square foot.
Last year 292 Sunny Isles oceanfront condos sold over $500,000 through our MLS database with an average selling price per square foot of $707 and at 93.5 percent of list price. As of April 2016, 63 Sunny Isles Beach condos have sold over $500k with an average sale price per square foot at $712 SP$/PSF.
In a contrast comparison of luxury oceanfront condos on Collins Avenue and priced over $1M, we see 473 condos for sale today with 34 closed sales this year averaging a sales price per square foot of $784 and selling at 88% of list price. Reviewing the top 10 luxury condo sales from the last 90 days, we find an average sales price per square foot of $965 and an average asking price per square foot of $1,174 PSF. Additionally, there was a 12 percent discount average for new buyers shopping for luxury real estate in Sunny Isles Beach.
The Top 10 Sunny Isles Beach luxury condo sales were found at:
- Regalia | 1 sales reflecting $1,248 PSF
- Trump Royale | 1 sale at $839 PSF
- Turnberry Ocean Colony | 1 sale at $910 PSF
- Acqualina | 2 sales at $1,197 & $1,208 PSF
- Trump Palace | 1 sale at $895 PSF
- Ocean Two | 1 sale at $760 PSF
- JADE Ocean | 1 sales reflecting $808 PSF
- JADE Beach | 2 sales at $800 & $986 PSF
Oceanfront real estate market values noticed considerable price gains over the seven years spanning from 2009 to 2015 and what the future holds in 2016, only time will tell. With 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 have decreased in value. While short-term concerns have some alarmed, smart long term buyers, see past the noise and towards the future of Sunny Isles. Values will again climb with time, but for now, the market is in favor for the buyer. Since the last JADE Condo update in November, we find Sunny Isles Beach condo inventory on the rise. New construction has taken over Collins Avenue with values beginning at $1,250 and as high as $2,500 per square foot.
JADE Sunny Isles Condos Trends & Sales 2016
JADE Beach Condo Inventory, Sales & Rentals
JADE Beach (17001 Collins Avenue) has a total of 25 (10% inventory) JADE Beach condos ranging in values from $895,000 (B1 Model) to $10M for a remodeled four bedroom. The 3-Story JADE Beach penthouse ‘Sky Loft Penthouses’ have sold and are no longer listed for sale on the open market. For off-market opportunities, contact me.
JADE Beach condos have been in demand given the most desirable location & value with an oceanfront lifestyle experienced only in Miami. The average JADE Beach list price per square foot is reflecting $1,274 PSF (Up 2% from November Stats), The 90-day average selling price per square foot reflecting $951 at 224 days on market. JADE Beach condo sales for 2016 reflect six resales from $875,000 (B1 Model #1203 sold at $1,015 PSF) to $1.950M (D Model #1005 sold at $800 per square foot).
This year’s median selling price per square foot reflects $997 at 123 days on market and a 97% sale to list price ratio. Record high sale price values last year went to $1,378 per square foot ($1,190 in 2014).
In April, there are 18 JADE Beach condos for rent ranging in asking prices from $3,900 (1BR, B1 model) to $15,000 (4BR, E Model). This year, 2 Jade Beach condos rented, with both reflecting rental values of $9,000/month.
JADE Ocean Condo Inventory, Sales & Rentals
JADE Ocean (17121 Collins Avenue) continues to stands among the elite luxury condo towers of Sunny Isles Beach. JADE Ocean has 36 condo resales available today with a few spectacular Jade Ocean Penthouse properties and “sky lofts” listed from $5.1M to $7.2M. Interiors on these Penthouse units range from 4-5 Bedrooms and from 4,303 to over 5,000 square feet. There are only 2 mirrored image ‘Sky Lofts’ (per Model) in each JADE building, and only a few other penthouses compare in Sunny Isles Beach.
The asking prices at Jade Ocean today begin with B1 & B2 models from $775,000 to $1.349M respectively.
JADE Ocean’s average asking price per square foot is at $1,344 ($1,421 in November) and buyers today are finding the selection most attractive. In the last 90 days, two sales have occurred from $1.8M to $2.3M (both A Models). Three units sold last year setting a new sale price high for JADE Ocean over $1,400 per square foot. This year, just three sales occurred with the average selling price per square foot $817 at 187 days on market. Last years record high sale went to $1,513 per square foot ($1,397 in 2014) while so far this year, we see $1,009 PSF as we enter a very strong buyer’s market.
There are 28 JADE Ocean rentals listed in April with prices ranging from $4,500 (B1 Model) to $32,000 for a beautifully furnished Jade Ocean Penthouse. This year seven condos rented ranging in values from $3,900 (B1 model) to an D Model renting at $12,000 unfurnished.
While some prefer JADE Beach as a place to call home, JADE Ocean condos have time and time again sold at a higher price point offering clear advantages to many.
JADE Signature Condo … coming soon
(16901 Collins Avenue) JADE Signature is on its way combining luxury + function + lifestyle in Sunny Isles Beach. Jade Signature will offer incredible floor plans and desirable open outdoor living environments. Construction is ongoing with the crews working full force on the progress of the final addition to the JADE Sunny Isles Condo Trio. Jade Signature Condos are spacious, functional and well, new. I am bullish on the success and demand at Jade Signature!
Today’s prices are over $1,350 per square foot – All one bedrooms have sold (waiting list to buy) while only larger 3+ bedrooms remain. Today, approximately 88% of the JADE Signature project has been sold. To inquire about buying a new condo in JADE Signature, contact me for available pricing by inquiring below.
List Your Property with Ashton Coleman
It’s time to showcase your property to perfection, and that’s what we offer. I also provide outstanding International exposure with global marketing and an Internet savvy style like no other. Local market knowledge goes a long way as customers want to know 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 here on the JADE Condos authority site plus many other websites you’ll find listed below.
Besides personal marketing, I offer the prestige & reputation of ONE Sotheby’s International Realty with global exposure and marketing channels that are beyond the extraordinary. For further details on a superior marketing strategy and results whether selling or leasing your oceanfront condo, reach out to me today and let’s begin!
When you’re ready to discuss Miami real estate, I’m easily reachable at #305.978.7704. I’m a Miami area real estate specialist with over 14 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 buy, sell or lease in Miami-Dade or Fort Lauderdale, contact me at #888.38.DREAM. No gimmicks. No pressure. Just professional advice.
The original MiamiDreamRealty.com is a major performer showcasing the entire luxury Southeast Florida MLS listing database and over 300 Miami condo buildings while the JADE & Turnberry Ocean Colony MLS database access contains very accurate JADE Condo listings for anyone looking to buy or rent. In 2010, I released TurnberryOceanColonySunnyIsles.com to replicate the research I’ve done with the JADECondosSunnyIsles.com authority site. Here you’ll also find new updates, videos & detailed statistics at the Turnberry Ocean Colony blog.
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