JADE Beach | JADE Ocean | JADE Signature Condo Sales, Statistics & Inventory for April 2014

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Sunny Isles Beach Luxury Condo Sales & Statistics

Prices are still increasing in our local market. Since the last JADE update in January, we find premier inventory escalating 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 801 total condos for sale and 196 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 April 2014, 104 Sunny Isles Beach condos have sold with an average sale price per square foot at $667 SP$/SF. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $1M, we see 259 condos for sale with 57 closed sales this year averaging a sales price per square foot of $787 SP$/SF and selling at 94% 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 $1,055 (6% appreciation from $996 previous post) and an average asking price per square foot of $1,146 psf reflecting an averaged 8% discount for new buyers shopping in the Sunny Isles Beach luxury real estate market. These top 10 Sunny Isles Beach luxury condo sales were found at JADE Ocean with 2 sales reflecting $1,288 and $1,085 per square foot. Other luxury sales came from JADE Beach with 1 Sale reflecting $1,190 PSF. Turnberry Ocean Colony with 4 sales at $1,221, $1,004,$950 & $1,024 PSF. Acqualina ($1,057 psf), Trump Palace ($986 psf) and lastly, Oceania V selling a trophy penthouse at $749 per square foot. Sunny Isles Beach oceanfront real estate market values are noting considerable price gains over these last 3 years.

What are the latest sales & the very best condo deals at JADE Ocean & JADE Beach Miami as of April? With new projects, preconstruction and condo developments, Sunny Isles Beach condo inventory is increasing while sale to list price ratios are averaging 95% and 221 days on the market for the prior month of March. JADE Condos specifics..

JADE Beach Condo Inventory, Sales & Rentals

(17001CollinsAvenue.com) There are a total of 23 (9% inventory) JADE Beach resales ranging in values from $850,000 (B1 Model) to TWO impressive 3-Story JADE Beach penthouse ‘Sky Lofts’ now repriced at $9.595M & $8.7M. 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 and lifestyle experience. The average JADE Beach list price per square foot is reflecting $1,196 psf (Up 8% from January Stats) with the 90 day average selling price per square foot reflecting $1,015 at 144 days on market and an 93% sale to list price ratio (7% average buyer discount). JADE Beach condo sales for the year 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).

In April, there are 18 JADE Beach condos for rent ranging in asking prices from $4,500 (B2 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).

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 today with the high prices on FOUR spectacular 2-Story Jade Ocean Trophy properties and “sky lofts” listed from $6.975 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 $1.049M. JADE Ocean’s average asking price per square foot is at $1,477 ($1,482 psf January Stats) and today’s buyers are finding the larger model floor plans most attractive with very limited inventory setting new record highs at $3.4M for the E Model. This year, only 2 sales have occurred from $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.

There are 10 JADE Ocean rentals listed in April with prices ranging from $5,000 (B1 Model) to $14,500 for a furnished (D Model) 3 bedroom. This year 4 condos have rented ranging in values from $4,700 (B1 model) to a C Model which rented at $7,500 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 significantly 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. The concerns that owners addressed between Jade Beach & Jade Ocean have now been addressed at Jade Signature with incredible floor plans & outdoor living environments to long for. 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 $1,437 per square foot with a graduated scale on increases this year as sales continue.. so far, all 1 bedrooms have completely sold while only 2 2 bedrooms remain available. To buy a condo today at JADE Signature, call me for available pricing. 1.888.383.7326 or inquire here Jade Signature Condos for Sale.

New 2014 statistics show us the latest in sales, facts & trends so stay tuned to this JADE Blog and authority site.

Ready to Sell or Lease Your Property at JADE

In Miami, your results are heavily dependent on the broker or Realtor® that you choose to market and sell your luxury condo. When hiring someone to sell or lease your JADE condo, look for strong global marketing with local market knowledge and a proven track record along Sunny Isles Beach. I’m available to market globally right here on the JADE website & blog plus my many other websites such as the MiamiBeachRealEstateBlog.usMiamiDreamRealty.com and the new MiamiPenthousesandEstates.com. 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 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 showed us sales as low as $1M in 2009 while sale prices today have increased ~100% and noting 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 Sunny Isles or any other luxury condo tower along the Miami Beach coastline.

 

Jade Signature Living Rendering

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.  Since 2002, I have sold & serviced Sunny Isles Beach to South Beach along with Aventura to Coral Gables.  If you would like to schedule a meeting with me, please feel free to call me directly at (305) 978-7704 or send me a note here.

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Categories: JADE Beach, JADE Beach Penthouse, JADE Ocean, JADE Ocean Penthouse, JADE Signature, Recent Sales

JADE Beach & JADE Ocean Condo Sales, Statistics & Inventory for March 2011

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Sunny Isles Beach Luxury Condo Sales & Statistics

A lot has changed with our local market since the last JADE update in 4Q 2010. Sunny Isles Beach condo inventory has decreased to 989 total condos for sale and 53 closed sales in the last 30 days (18 month supply). Last year 184 oceanfront condos over $500k sold via MLS with an average selling price per square foot of $447. So far in 2011, 165 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $258 per square foot. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $500k, we see 427 condos for sale with 41 closed sales so far this year averaging a selling price per square foot of $506 psf and selling at 92% of list price. If we take the top 10 of 2011 luxury condo sales, we find an average sales price per square foot of $732 and an average asking price per square foot of $849 psf reflecting an average 12% 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 Acqualina with 3 sales reflecting $945, $822 & $658 per square foot. Turnberry Ocean Colony had 5 sales at $733, $643, $696, $667 & $667 per square foot. Trump Palace had an 09-line sale at $557 psf & I sold a Penthouse at Trump Royale for $530psf. JADE Beach & JADE Ocean had 4 sales at $451, $420, $565 & $577 per square foot.

What are the latest happenings & the very best condo deals at JADE Ocean & JADE Beach Miami in March 2011? Sunny Isles Beach condo inventory has decreased 8% over last month while sale to list price ratios are averaging 92% for the prior month of February. I’ll explore the fine analytics below and continue educating everyone interested in these modern oceanfront condo towers known as JADE Beach & JADE Ocean. On to the March 2011 JADE Condo details…

JADE Beach Condo Inventory, Sales & Rentals

(17001CollinsAvenue.com) JADE Beach condos are sold out of Fortune’s developer inventory (2010) after two plus years of occupancy. We now have 35 (14% inventory) JADE Beach resales ranging in values from $619,000 (Low Floor B1 Model) to an impressive 3 Story JADE Beach penthouse ‘Sky Loft’ resale priced at $10.9M (I-line Penthouse Floor Plan). The average JADE Beach list price per square foot is reflecting $712 psf (Up 7% from December) with the average selling price per square foot reflecting $515 at 175 days on market and an 89% sale to list price ratio (11% average buyer discount). JADE Beach condo sales have been reported on the MLS with 12 resale values in 2010 from $470k (B1 Model at $499 psf) to $2M (E Model at $645 per square foot) setting a new record high in resale values.

In March, there are 18 JADE Beach condos for rent ranging in asking prices from $2,800 (#1202 as B2 model) to $10,000 (#3605 as D-model). JADE Beach condo rentals have been in demand as new residents test the local market & JADE Beach lifestyle. To date, 71 Jade Beach condos have rented, ranging in rented values from $2,000 (B1 deals) to $15,000 (#3608); 2 Jade Beach rentals are currently pending contract with #1201 & #801 (A-models) reflecting asking prices of $4,500 & $5,000 respectively.

JADE Ocean Condo Inventory, Sales & Rentals

(17121CollinsAvenue.com) JADE Ocean has great developer inventory with price points hovering in the $600+’s psf. I believe these to be reasonable market values given the latest Sunny Isles Beach condo sales & trends of this luxury condominium tower. Jade Beach took almost 2 years to accomplish a sell out and we’re now approaching the second year of JADE Ocean acquiring its Certificate of Occupancy. There are 19 Jade Ocean condo resales today with the high price on a spectacular 2-Story Jade Ocean Penthouse “sky loft” listed $6.9M with over 5,000 square feet and 4 bedrooms along with a slightly smaller luxury JADE penthouse priced at $4.995M with just over 4,000 total square feet, 4 bedrooms and 4.5 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 resale today is a B-1 model priced at $625,000 and a few B-2 models asking $775k to $925k asking values. JADE Ocean’s average asking price per square foot is at $765 ($779 psf in December) and today’s buyers are finding the developer inventory most attractive in the $600’s per square foot.

There are 15 JADE Ocean rentals listed in March and the prices are ranging from $3,000 (#2506) to $32,900 for a 5 bedroom, 2-Story furnished Penthouse. There have been 24 rented condos ranging in values from $2,575 (B1 model) to $9,500 (E Model) to be solid rental figures in this superior Sunny Isles Beach building. I believe JADE Ocean will sell out this year and will blog on updates as each report shows us new 2011 figures.

JADE Ocean & JADE Beach interior differences are not significant other than kitchen counter finishes (Granite vs. Quartz) while other amenity differences are uncovered through photos & videos here while the frequent blog research shows us true market values. New monthly sales statistics show us the latest sales, facts & trends so please 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 & lifestyle. It seems as though Fortune amended the asking prices quite well to todays Sunny Isles Beach oceanfront market values. The residential low end market is noting considerable price gains as inventory decreases and sales increase under $300k. JADE Ocean stands among the elite luxury condo towers of Sunny Isles Beach with an enormous International demand.

I’m Available to Showcase 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 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 selling 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 1Q 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 last year while prices today begin at $1.390M and noting fast turnaround with 2 condos pending sale this month. 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 with 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 sale and 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. Enjoy and thank you for visiting!

Jade Beach Penthouse 3 Level Sky Loft

Categories: JADE Beach, JADE Beach Penthouse, JADE Ocean, JADE Ocean Penthouse, Recent Sales, STATS

JADE Beach & JADE Ocean Condo Sales, Statistics & Inventory for May 2010

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I’ve missed the April report.. With the new websites, I am bombarded with customers and condo sales so I’ve been working on building the Miami Dream team of real estate professionals. Sunny Isles Beach inventory held constant last month at 1,052 total condos for sale. Sunny Isles Beach condo inventory has decreased 26% year to date while sale to list price ratios are up to an average 94% for the month of April. I’ll explore the fine analytics below and continue educating everyone interested in these uber modern condo towers known as JADE Beach & JADE Ocean.

At the start of 2010, I released a new addition to the Sunny Isles Beach condo collection with TurnberryOceanColonySunnyIsles.com website to replicate the fun & success I’ve had with this JADECondosSunnyIsles.com authority site. Price points at Ocean Colony had dropped approximately 20% in 2009 alone and have sold as low as $1M last year while prices today begin at $1.390M and noting fast turnaround with 14 condos under contract! Here you’ll find new blog updates, videos & monthly statistics at Turnberry Ocean Colony which some people seem to prefer over Jade Beach & Jade Ocean. The original MiamiDreamRealty.com was revamped showcasing the entire luxury Southeast Florida Regional MLS listing database while the JADE Ocean, JADE Beach & Turnberry Ocean Colony MLS database access is also being revamped in 10 days! On to the MAY 2010 JADE Condo details…

JADE Beach Condo Inventory, Sales & Rentals

(http://17001CollinsAvenue.com) JADE Beach developer (Fortune) has sold out after almost two years of occupancy and we are awaiting word of it turned over to the condo board. We now have 43 (17%) JADE Beach resales ranging in values from $510,000 (Low Floor B1 Model) to an impressive JADE Beach penthouse listing priced at $11M (2 Story Jade Beach Trophy Penthouse). JADE Beach condo sales have been reported on the MLS with values from $468k (B1 Model at $468 psf) to $1.420M (E Model at $442 per square foot). This has been the established pricing trend, in the $400’s, for Jade Beach. The average JADE Beach list price per square foot is reflecting $670 psf (Up 3% over March) with the average selling price per square foot reflecting $449 at 153 days on market and an 89% sale to list price ratio (11% average buyer discount). The inquiries have not ceased on the only JADE Beach short sale #1104D which is still pending short sale approval. I do expect it to sell over asking price as $865k may prove to be a “teaser price” with D line values now ranging in sold values from $990k to $1.2M in 2010. This went pending in December and short sales can take an easy 6-9 months!

JADE Beach rentals have been in demand as potential buyers test the local market & JADE Beach lifestyle. To date, 36 Jade Beach condos have rented, ranging in rented values from $2,000 (B1 deals) to $7,000 (#1708); 3 Jade Beach rentals are currently under contract with prices ranging from $3,650 (#2602) to $14,000 (#3608); the agent needs to change the status on #3608 as it’s been pending for months now. There are 30 JADE Beach rentals active-available ranging in asking prices from $2,950 (07-line as B2 model) to $8,200 (#3208).

JADE Ocean Condo Inventory, Sales & Rentals

(http://17121CollinsAvenue.com) JADE Ocean has price points by the developer hovering in the $600+’s psf. I do believe this to be market values given the uber luxury product with new County records now reflecting 106 recorded deeds (Up 11% since March) or 44% sold. Please Note: there are more sales than this as Miami Dade County takes awhile to record deeds. Jade Beach took almost 2 years to accomplish a sell out and we’re now entering the 10th month of JADE Ocean acquiring its Certificate of Occupancy. There are 11 Jade Ocean resales today with the high price on a spectacular 2 Story Jade Ocean Penthouse “sky loft” listed November 20th at $2.7M (now priced at $2.8M) with just over 3,700 total square feet, 3 bedrooms and 3.5 baths.. There are only 2 (C-2’s) in the building and no other penthouses comparable in Sunny Isles Beach other than JADE Beach. The lowest priced resale is a B1 model priced at $625k which is 18% over Jade Beach B1 asking values. With an average asking price per square foot of ~$717 ($747 psf in March), reflective for JADE Ocean, we should soon see new activity. This is the critical curve separating value differences between each tower that I’m interested in deciphering. Differences will be dissected this year showing us what truly is market values while sales statistics show us the latest sales, facts & trends.

JADE Ocean was sold out on a significantly higher price point offering clear advantages in amenities & lifestyle. It seems as though Fortune, the FDIC & Starwood amended the asking prices and adjusted them to Sunny Isles Beach oceanfront market values. The residential low end market is noting price gains as inventory decreases. Talk of values going up has been constant across the board along the Miami Dade Beaches… The developer is relaying today’s prices at approximately $600+ psf and increasing slowly as sales continue. One thing is for sure, the developer is 100% confident in their product standing firm on current contract negotiations. And why wouldn’t they be as JADE Ocean stands among the elite condo towers of Sunny Isles Beach.

There are 10 JADE Ocean rentals listed via MLS and the prices are ranging from $2,600 (#1803) to $7,100 for a 3 bedroom (A model). There have been 5 rented condos ranging in values from $2,500 to $5,000 (B2 Model) to be a strong starting figure for a superior building. I believe JADE Ocean will have a very strong finish this year and we’ll all make notes as each month shows us new figures.

Sunny Isles Beach Luxury Condo Sales & Statistics

Sunny Isles Beach condo inventory is reflecting 1,052 condos for sale and 50 closings in the last 30 days (21 month supply). So far in 2010, 245 Sunny Isles Beach condos have sold via MLS database with an average sale price per square foot at $225 per square foot. In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $500k, we see 455 condos for sale with 55 closed sales so far this year averaging a selling price per square foot of $396 (down 1% over last month) psf and selling at 90% of list price. If we take only the top 10% of 2010 condo sales, we find an average sales price per square foot of $606 and an average asking price per square foot of $701 reflecting an average 13% discount for new buyers in the Sunny Isles Beach luxury real estate market. Last year 161 oceanfront condos over $500k sold via MLS with an average selling price per square foot of $420. Looking at the 39 closed oceanfront condo sales from the last 90 days, we see the sale to list price ratio reflecting an 11% buyer discount and selling within 224 days. The top Sunny Isles Beach luxury condo sales of the last 90 days were found at Acqualina with #3903/4 selling at $2.6M ($589 SP/SF), JADE Beach #3308 selling at $1.420M ($442 SP/SF) and Trump Palace #3901 selling at $1.270M ($593 SP/SF).

What else would you like to see reported here on the JADE Condo Blog? Leave a comment and let me know what’s on your mind regarding JADE Beach & JADE Ocean Sunny Isles or any other luxury condo tower along the Dade County coastline. I’m also eager to market new JADE Condo listings here and on my other sites so please visit MiamiDreamRealty.com (5 Step Marketing) for details on superior global marketing and efficient results whether selling or leasing your condo.

JADE Ocean Swimming Pool

Categories: JADE Beach, JADE Beach Penthouse, JADE Ocean, Recent Sales, STATS

JADE Beach Condo Sales, Stats & Inventory for June 2009

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jun09-1311

 What’s new in June… JADE Beach Condo rentals total 30 available ranging from $2,600 (B-Line) to $9,500 (E-Line SE Corner). Nothing per MLS has rented or sold with 32 Jade Beach condos for sale (13% Inventory is considered as healthy) and 13 that have now expired from the market. Jade Beach condo values range from $520,000 (B1-Line) to $4.5M for a 2-Story JADE Penthouse (H-Line). The average price per square foot is now at $665 psf (1% decrease over last month) with a high at $887 psf and a low at $467 psf. Note: There are NO bank owned or any short sales available in JADE Beach.

 There are a select few Jade Beach condos priced under $500 psf with the NE Corner #4008 (E line) still in the lead. I’ve been showing it as much as possible along with others such as the A-line in which the biggest complaint is the master bedroom on the west side of the building. There are only 2 units reflecting being completed with one as wood and the other reflecting porcelain (?) tile and wood in the bedrooms. Please don’t let me buyers see wire closets in Jade!

 This weekend I met with great buyers currently renting at La Perla  and JADE Beach was the number one on their initial short list. They were looking for a 3-4 bedroom and I knew they had great taste after requesting to see JADE. I picked 8 of the best condos available along  Sunny Isles Beach with the goal to educate them on buildings, values and deals.. so here’s what unfolded. After a day of looking at the best buildings, Jade Beach was unimpressive other than PH-H (asking $4.5M) which was a fluke in showing and not even in their price range. Their number one choice was Trump Royale based on an incredible 3,000 SqFt unit (1 of only 6) priced at $1.9M ($630 psf) with a master bedroom the size of most living rooms and a closet the size of most dens. The second on the list was a 2-Story Tower Suite with rooftop deck at Trump Palace ($824 psf) which had a few unique factors such as allowing nightly rentals (with great income potential) at an estimated $1,000 night. Third on the list came to Ocean 4 ($505 psf) which has gone through major renovations with an owner who has spent $300,000 on interior upgrades and has never lived in the condo! All 3 are highly motivated and 2 are distressed sales with 2 major buy factors standing out among the rest… either completely finished and/or special unique factors such as a spiral staircase leading to the master terrace with inevitably high ‘jacuzzi tub’ views of the ocean.. other factors included a master bedroom the size of a living room and a closet the size of most dens. 

 This photo above is the newly completed JADE OceanI’ll have an inside tour soon so I’ll be able to share the finished product with you in an upcoming blog post. They must have received their TCO by now with what appears to be 2 for sale ranging from $1.450 (B2-line) to $1.9M. Yes, very excited on JADE Ocean but rumor has it the interior lobby of JADE Beach is superior…?! How can you beat the JADE Ocean flow through pool and the oceanfront entryway? Very enticing and soon to be one of the most desirable developments along the FL coast. The truth is in the numbers 1.888.383.7326.

Categories: JADE Beach, Recent Sales, STATS

JADE Beach Condo Sales, Stats & Inventory for May 2009

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Jade Beach oceanside I was told as a rookie agent back in 2002 it’s always best to be the 3rd listing agent. Well it took me another year before I began listing Sunny Isles Beach condos for sale and to this day I don’t believe it to be true. I do believe market knowledge and experience go along way as first agent #1 when listing a luxury condo or any condo and do relate on the extreme difficulties of handling new condo sales in a strong buyers market. JADE Beach Sunny Isles has been interesting to watch as a BIG fan of the developments. I have patiently waited and reported month after month on condo sales, or lack thereof and anticipate good sales to come soon.

As per SEF MLS (S.East Florida Multiple Listing Service), nothing has traded yet in JADE Beach. There are 30 rentals ranging from $3,000 to $9,500 asking. There are also 32 JADE Beach condos for sale (13% Inventory is considered as healthy) and 13 that have expired from the market. So what will it take? Statistics show prices ranging from $520,000 (B1) to $2.450M (E line) with average list price at $670 psf. There is only 1 unit under $500 psf and it’s E-line #4008 which is destined to sell first. There is 1 unit relaying “finished” which is #4104 and asking $1.699M ($697psf). Note: There are NO bank owned or even short sales in JADE Beach. I’ve got simple selling strategies backed by statistics that have worked for other owners in selling other luxury condos in Sunny Isles but I can’t report here as other savvy agents read this. It’s pretty simple and most will agree the #1 answer to making JADE Beach “work” are the asking prices.

When I take customers to JADE Beach Sunny Isles the first impression is WOW!! A brilliant lobby that flows through to the ocean deck captivating open ocean views while relaxing on Fendi furniture… pretty amazing and very special. The floor plans are considered “okay” with the majority narrow and flow through design allowing the best of both sunrise & sunset views. The number 1 complaint from buyers are the corner units (specific to A line) having a master bedroom on the west side rather than waking to an ocean view as the sunrises.  There is Nothing wrong with the JADE building, design, features, floor plans, etc… Not one thing wrong but the price. Here’s why. Sunny Isles Beach has 1,418 total condos for sale as of May 2009. In the last 30 days 69 condos have gone under contract with 40 closed sales occurring meaning a 35.45 month supply. This is an indicator many look at to determine where the market is as a 6 month supply is considered “healthy.” What I prefer to also look at is Days on Market (DOM) and Sale to List Price Ratios. Miami Dade Beaches have inventory down 5% and pending sales up 10% over April. In looking at ONLY Sunny Isles Beach oceanfront and ONLY at new condo buildings built from 2000 and on, we find 704 Sunny Isles condos for sale, 21 pending and 13 closed transactions for a 54.15 month supply.  Average DOM is at 154.93 or 5 months to sell with a Sale to List Price Ratio at 91% (on the rise!)… Here’s where the truth hurts; Average asking price per square foot is at $517 psf with a selling price per square foot at {$317}. Accuracy; as per our MLS database while the average sale price for new, luxury condos ON the ocean is only $434,077. As my favorite “apples to apples” comparison, I use Trump Palace which is well established (Built 2006), financially stable and has an awesome turnover rate. Average days on the market are only 58 DOM while Sale to List Price Ratios average 92%. On 2009 Sold values, average asking list price per square foot is at $566 while average selling price per square foot is at $514.

So here is where it’s going… down, into the mid to high $500′s on asking prices before we start to see transactions occurring. We will see sales in the mid to high $400′s here soon and believe me you’ll see new stats and activity here as soon as there is something worthy. I’m in this for the long run backing JADE Beach & JADE Ocean with knowledge & truth…! Will JADE Beach condos set records? YES, Absolutely. I am a HUGE FAN as you can tell from the site(s). I only want to see great success for JADE Condos of Sunny Isles Beach and a destined success on turnover. The truth is in the numbers. 1.888.383.7326

Categories: JADE Beach, STATS

JADE Beach Condo Sales, Stats & Inventory for March 2009

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Jade Beach Condos Sunny Isles JADE Beach condo inventory for the month of March shows us 27 units on the market ranging from $2.450M (4/4) to $599k (1/1.5). Average asking price per square foot is at $683 with an average list price at $1.416M.

JADE Condo resales… There hasn’t been any and why is this?

I’m going to rant here since nothing in JADE Beach has sold… If you’d like a market snapshot for Sunny Isles Beach real estate we see 14 new “luxury condos” sold within the last 90 days (2005+, ocean direct) with an average asking price per square foot at $544 and selling price per square foot at $485. The Sunny Isles Beach SP/LP (Sale to List Price) Ratio% is at 91% with an average of 177 days on the market.  Taking Trump Palace condos for example, we see an good above average turnover rate with 5 condos selling in the last 90 days at $510 psf and an average asking price per square foot at $592. Additionally, condos priced well at Trump Palace sell at an average of only 63 DOM (days on market) and at 93% of list price.. Trump Palace’s younger, more modern sister building Trump Royale, has not had any resales either however Trump Royale has a multitude of unsold developer units whereas JADE Beach does not; and I say this with the understanding from the developer’s rep that over 79% of JADE Beach has been sold. The point here is not that new developments will sit empty with unsold units, but more so the fact that the Sunny Isles Beach 2009 real estate market is not ready to come up to $683 PSF for JADE Beach condo resales that are unfinished (decorator ready).

Is there still smoke and mirrors on the overall average values and resale potential at JADE Beach?

Okay, I understand the JADE Beach resale values are fueled on “that’s what I paid for it” and “that’s what the developer (or my agent) thinks I could get for it” or even the valued point that JADE Beach is a far better building than Trump Palace and not comparable in the current “sold” values above.  Could it be…?

Okay then, so let’s step up the Sunny Isles Beach market snapshot to what some would argue to be the best luxury condo residences for services, amenities and resale values… Turnberry Ocean Colony. Turnberry Ocean Colony has had 2 closed sales in the last 90 days with 2 under contract at an average list price per square foot at $542 and average closed sale PPSF at only $492! Turnberry Ocean Colony #2401 was sold (by yours truly) in September 2008 at $712 PSF and then just over the holidays the prices dropped to what are reflecting in the 01 (Abaco) line today at an average “asking” price per square foot at $690 psf.

Jade Beach Jade Ocean Sunny Isles These last 3 years 6 months have been the nose dive many new true investors were hoping for with luxury condos selling in the 400′s. Everyone including myself were truly hopeful that JADE Beach would have initial resale values in the $700 to $800 PSF range while JADE Ocean resale values would top $1,000 PSF mark and set new area records. I still concur that JADE Ocean will set area records or stay parallel with Turnberry Ocean Colony, however each must be priced WITH the market. We’re still pulling through a market correction, inventory glut and bad press from the media. Vital signs (inventory + SP/LP%) are in a positive direction for the Sunny Isles & Miami Beach market snapshot and my cup is always half full.

There are some realistic unit owners that have priced their JADE Beach condos with the market to sell.. ie) #4008 (E line $482 psf), #1508 (A line $595 psf) #1904 (D line $520 psf), #1104 (D line $582 psf). Believe me, I’m all for JADE Beach condos and the soon to be released JADE Ocean, otherwise I would have never spent thousands on this site & blog or countless hours writing, editing and creating good content. I LOVE THE JADE BUILDING(S) with a fiery passion and they are where my focus (& money) is being spent. I’m simply ready to see resale action.

The truth is in the numbers. 1.888.383.7386.

Categories: JADE Beach, Recent Sales, STATS