Sunny Isles Beach Luxury Condo Sales & Statistics
A lot has changed with our local market since the last JADE update in 4Q 2011 as the premier inventory escalates in value. Sunny Isles Beach condo inventory has decreased to 557 total condos for sale and 70 closed sales in the last 30 days (7.9 month supply). Last year 184 oceanfront condos over $500,000 sold via MLS with an average selling price per square foot of $447. So far in 2012, 126 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $513 per square foot. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $500k, we see 399 condos for sale with 124 closed sales so far this year averaging a selling price per square foot of $515 psf and selling at 94% of list price.
If we take the top 10 of 2012 luxury condo sales, we find an average sales price per square foot of $789 (down from $815 previous post or 3%) and an average asking price per square foot of $869psf reflecting an average 10% discount for new buyers in the Sunny Isles Beach luxury real estate market. The top 10 Sunny Isles Beach luxury condo sales from the last 90 days were found at JADE Ocean with 1 sales reflecting $992psf along with Jade Beach reflecting a sales at $841 per square foot. Turnberry Ocean Colony had 5 sales at $965, $870, $819, $859 and $793 per square foot while Ocean Three had two sales at $442 psf and $456 per square foot.
What are the latest sales, happenings & the very best condo deals at JADE Ocean & JADE Beach Miami in June 2012? Sunny Isles Beach condo inventory has decreased 32% year to date while sale to list price ratios are averaging 93% for the prior month of May. I’ll explore the fine analytics below and continue educating everyone interested in these most desirable oceanfront condo towers known as JADE Beach & JADE Ocean. On to the June 2012 JADE Condo details…
JADE Beach Condo Inventory, Sales & Rentals
(17001CollinsAvenue.com) We now have 20 (8% inventory) JADE Beach resales ranging in values from $745,000 (B1 Model) to an impressive 3-Story JADE Beach penthouse ‘Sky Loft’ reduced and now priced at $9.9M (I-line Penthouse Floor Plan). The average JADE Beach list price per square foot is reflecting $747 psf (Up 14% from August 2011) with the 90 day average selling price per square foot reflecting $748 at 205 days on market and an 91% sale to list price ratio (9% average buyer discount). JADE Beach condo sales on the MLS reflect 10 resales in 2012 from $580k (B1 Model at $535psf) to $2.2M (E Model at $841 per square foot) setting the record high in JADE Beach resale values.
In June, there are 9 JADE Beach condos for rent ranging in asking prices from $3,300 (B2 model) to $36,000 (Jade Beach Penthouse). JADE Beach condo rentals have been in demand given the most desirable location and experiencing the JADE Beach lifestyle. Year to date, 8 Jade Beach condos have rented, ranging in rented values from $2,700 (B1 deals) to $7,500 (E Model).
JADE Ocean Condo Inventory, Sales & Rentals
(17121CollinsAvenue.com) JADE Ocean has 16 condo resales today with the high prices on two spectacular 2-Story Jade Ocean Penthouse “sky lofts” listed $10.950M & $9.50M with over 6,500 square feet and 5 bedrooms along with a slightly smaller luxury JADE penthouse priced at $4.1M with just over 3,700 total square feet, 3 bedrooms and 3 baths.. There are only 2 mirrored image Sky Lofts per Model in the JADE buildings and few other penthouses comparable in Sunny Isles Beach. The lowest priced resales today begin with B-2 models priced from $899,000. JADE Ocean’s average asking price per square foot is at $1,120 ($886 psf in August 2011) and today’s buyers are finding the D & E Models most attractive with very limited inventory setting new record highs over $2.2M. Year to date, 6 sales have occurred from $899k to $2.999M. Unit #4403 sold at $3.5M in May setting a new record high at $1,019 per square foot for Sunny Isles Beach real estate. The averages show the selling price per square foot at JADE Ocean reflecting $889 while selling at 94% of list after 237 days on market.
There are 10 JADE Ocean rentals listed in June and the prices are ranging from $3,790 (#2603) to $16,500 for an optionally furnished 4 bedroom. Year to date, there have been 5 rented condos ranging in values from $4,000 (B1 model) to a beautiful D Model rented at $8,300.
JADE Ocean & JADE Beach interior differences are not so significant other than kitchen counter finishes (Granite vs. Quartz) along with the amount of glass encompassing the walls throughout. Other amenity differences are uncovered through photos & videos here with blog research showing us true market values. New monthly sales statistics show us the latest sales, facts & trends so stay tuned to this JADE Blog and authority site. JADE Ocean condos were sold out on a significantly higher price point offering clear advantages in amenities & South Florida lifestyle. Sunny Isles Beach oceanfront market values are noting considerable price gains as inventory continually decreases while sale prices increase. JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach with a great International demand.
Ready to Sell or Lease Your Property at JADE
In Miami, it’s not so much the brokerage name recognition but instead more so dependent on the agent or Realtor® you choose to expose your luxury property properly. When hiring someone to sell or lease your JADE condo, look for strong global marketing with local market knowledge and a proven track record with luxury condos along Sunny Isles Beach. I’m available to get started and accepting new JADE Condo listings to market globally right here on the JADE website & blog plus my many other websites such as MiamiDreamRealty.com. For further details on a superior marketing plan and efficient results whether selling or leasing your oceanfront condo visit the 5 Step Marketing Plan today.
In 2010, I released a new addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com website to replicate the success I’ve had with the JADECondosSunnyIsles.com authority website. Price points at Turnberry Ocean Colony dropped approximately 20% in 2009 alone and have shown us sales as low as $1M in 2009 while sale prices today have increased 44% and noting the market turnaround. Here you’ll also find new updates, videos & monthly statistics at the Turnberry Ocean Colony blog. The original MiamiDreamRealty.com is a top performer showcasing the entire luxury Southeast Florida MLS listing database (500+ customers daily) while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access have also been revamped with most accurate condo listings for anyone looking to buy or rent. Leave a comment and let me know your thoughts regarding JADE Beach & JADE Ocean Sunny Isles or any other luxury condo tower along the Miami Dade County coastline.