JADE Beach Oceanside
Regarding the health of the JADE Beach development and today’s inventory, I supposed it would rate today as among the very best with very little buyer remorse and condo inventory for sale. Today there is only 6% as available inventory or 19 total residences for sale. This should definitely increase as closings progress & trickle through the MLS and I’ll continue reporting on all inventory and sales activity so we can gauge today’s JADE Beach market values. Today’s prices range from $749,000 (1085 SqFt B1 line) to $2.3M (3211 SqFt E line) with an average listing price at $1.515M ($714 psf). Nothing is yet pending or closed through the MLS and I expect this to change for the better in the coming seasonal months and on. I had a recent sale at Turnberry Ocean Colony (#2401 South Tower Sold at $721 psf) and many appraisers called to compare to JADE Beach for the accurate values. All seemed to have NO issues appraising Jade Beach and out of the many callers experiencing buyer’s remorse at other new developments, I have had but one at Jade Beach or Jade Ocean. Instead, normal questions from new owners pertaining to JADE Condo Values in which I would say currently as low as $560 (4BR) psf up to $898 (1BR) psf which are max leading values of the Sunny Isles Beach real estate market on a price per square foot basis. In looking at the 740 closed sales of 2008 in Sunny Isles Beach, the highest price per square foot of sold luxury condos is holding at $829 psf… not including mortgage fraud. There are 14 closed sales of 2008 ranging from $700 psf to the $829 psf as previously mentioned. That’s right only 14 or 1.27 luxury condos sold per month. The leading towers in which JADE Beach & JADE Ocean will surely triumph are 1.) Turnberry Ocean Colony (Sold 01 line “ABACO” at $829 psf) 2.) Trump Palace (Sold at $800 psf on 09 line) 3.) Acqualina (Sold at $768 psf on 06 line). Average Days on Market for this select group of upper tier oceanfront sales was at 275 DOM with an Average Sale to List Price Ratio at 92.71%. Want more in depth news?… Sign up for immediate weblog updates or check back often for weekly reports.
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This website is fantastic!, a great deal of information. One question I have is how much more do you expect the prices to be in Jade Ocean compared to Jade Beach?. It seems that Jade Ocean is even more luxurious and with bigger floor plans than Jade Beach so the prices are going to be higher.
Thanks
Juan THANK YOU for being the first to write a comment. The developer’s rep tells us 1100 vs. 800 per square foot. These figures are a bit aggressive for the current market we’re in BUT I do believe JADE will be setting area records. In comparison to One Bal Harbour, which has sold around 1100 psf, it should dominate. Time will tell and again, Thank you for writing! PS. JADE Ocean comes with an uber elite concierge membership from Quintessentially (Global Private Memebers Club)