JADE Beach, JADE Ocean, JADE Signature
Sunny Isles Beach Luxury Condo Sales & Statistics
Prices are still increasing in our local market. Since the last JADE update in April, 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 822 total condos for sale and 213 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 June 2014, 373 Sunny Isles Beach condos have sold with an average sale price per square foot at $415 SP$/PSF.
In a contrast comparison of luxury oceanfront condos on Collins Avenue and priced over $1M, we see 261 condos for sale with 80 closed sales this year averaging a sales price per square foot of $778 SP$/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 $993 (6% down from $1,055 previous post) and an average asking price per square foot of $1,088 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 1 sale reflecting $1,288 per square foot. Other luxury sales came from Oceania V selling a trophy penthouse at $749 PSF. Turnberry Ocean Colony with 7 sales at $1,078, $1,004,$1,004 & $1,043, $950, $847 and $1,025 PSF.
Sunny Isles Beach oceanfront real estate market values are noting considerable price gains over these last 3 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 85 days on the market for the prior month of May. One thing is for certain the new construction (Jade Signature) on the South side of Jade Beach and the North side (MUSE) of Jade Ocean is jeopardizing 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 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 obstructed.
JADE Beach, JADE Ocean & JADE Signature Condo Deals & Sales
JADE Beach Condo Inventory, Sales & Rentals
(17001CollinsAvenue.com) There are a total of 25 (10% inventory) JADE Beach resales ranging in values from $850,000 (B1 Model) to $12M. 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). There is also an unreasonably priced $12M D-2 Model on the 47th floor priced at $2,898 per square foot. They paid $2.8M in 2011 and let’s assume there was $3M invested in interior upgrades, then there we go.. $6-7M list price! Maybe I’m missing something in value but so far, my opinion is ‘good luck.’
JADE Beach condos have been in demand given the most desirable location, value and lifestyle experience. The average JADE Beach list price per square foot is reflecting $1,196 psf (Down 5% from April Stats) with the 90 day average selling price per square foot reflecting $1,026 at 125 days on market and an 95% sale to list price ratio (5% 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 years average selling price per square foot reflects $902 at 121 days on market and an 93% sale to list price ratio (7% average buyer discount). So far in 2014, we have 8 sales averaging $1,033 per square foot and 110 days on the market with a 6% buyer discount. $1,190 per square foot is the record high sale value for 2014.
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In June, there are 20 JADE Beach condos for rent ranging in asking prices from $3,700 (B1 model) to $50,000 (Jade Beach 4BR, E Model). Last year, 22 Jade Beach condos rented, ranging in rented values from $3,200 (B1 Model) to $11,500 (Furnished E Model). So far in 2014, only 2 rentals have occurred with a B1 model renting at $3,053 and a C model renting at $5,900.
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JADE Ocean Condo Inventory, Sales & Rentals
(17121CollinsAvenue.com) JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach with a great demand in ownership. JADE Ocean has 26 condo resales available today with the high prices on FOUR spectacular 2-Story Jade Ocean Trophy properties and “sky lofts” listed from $6.499 to $8.790M with 4-5 Bedrooms and from 4300+ to over 6,500+ 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 resales today begin with a B1 model priced from $1.039M.
JADE Ocean’s average asking price per square foot is at $1,444 ($1,477 in April & $1,482 psf January) and today’s buyers are finding the larger model floor plans most attractive with limited inventory setting new record highs at $3.4M for the E Model. This year, only 3 sales have occurred from $1.9M (C Model), $3.2M (E model) to $7.070M (Jade Ocean Penthouse). Unit #3601 sold in December at $3.4M setting a new record high at $1,200+ per square foot 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 reflects $1,217 with 194 days on market and buyers getting a 10% discount off asking values.
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There are 11 JADE Ocean rentals listed in June with prices ranging from $3,700 (B1 Model) to $14,500 for a furnished (D Model) 3 bedroom. This year 9 condos have rented ranging in values from $4,700 (B1 model) to an E Model which rented at $15,900 beautifully furnished.
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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 between Jade Beach & Jade Ocean have now been confronted at Jade Signature with incredible floor plans & 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 this year 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.
Ready to Sell or Lease Your JADE Condo?
Time to Showcase Your JADE Property. When hiring someone to sell or lease your JADE condo, look for strong International exposure & global marketing. 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 property globally right here on the JADE website & blog plus my many other websites seen below. Additionally, I am now with ONE Sotheby’s International Realty with a reputation, exposure and marketing channels 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.
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 ~100% 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 220 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. Leave a comment and let me know your thoughts regarding JADE Beach, JADE Ocean & JADE Signature or any luxury condo tower in Miami. New 2014 statistics show us the latest in sales, facts & trends so stay tuned to the JADE Blog and authority websites below!
If you would like to discuss Miami real estate, please contact my office at 786.27.DREAM or toll free at 888.38.DREAM to make an appointment. I’m a Miami area real estate specialist with over 12 years of experience. Since 2002, I’ve sold & serviced Sunny Isles Beach to South Beach along with Aventura to Coral Gables. When you’re ready to schedule a meeting with me, call me directly at #305.978.7704 or send me a note here.