JADE Beach, JADE Ocean, JADE Signature | January 2017 | Condo Sales & Statistics
Sunny Isles Beach Condo Sales & Statistics
Sunny Isles Beach condo inventory for the quarter holds at 1,373 total condos for sale and 113 closed sales in the last 90 days with a median sale price value of $431 per square foot. Prices have declined in our local market as we find in the most recent Sunny Isles Condo Index.
Oceanfront real estate values noticed considerable price gains over the seven years spanning from 2009 to 2015 and now in 2017, we find a strong buyer’s market. With new construction on the South side (Jade Signature) of Jade Beach and on the North side (MUSE) of Jade Ocean, the 01 and 08 lines experiencing the construction debris and noise nuisances have also decreased in value. While short-term concerns have some alarmed, smart long term buyers see past the noise towards the future of Sunny Isles Beach. Values will again climb with time, but for now, the market is in favor of the buyer.
Sunny Isles Beach condo inventory has been on the rise, especially with coastal high-end luxury real estate. New construction has taken over Collins Avenue with values beginning at $1,250 and as high as $2,500 per square foot. Last year 220 Sunny Isles oceanfront condos sold (over $500,000) through our MLS database with an average selling price per square foot of $667 and at 93.1 percent of list price. As of January 2017, just 2 Sunny Isles Beach condos have sold (over $500,000) with an average sale price per square foot at $902 SP$/PSF. In a contrast comparison of luxury oceanfront condos on Collins Avenue and priced over $1M, we see 898 condos for sale today with 126 closed sales last year averaging a sales price per square foot of $772 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 $999 and an average asking price per square foot of $1,093 PSF.
The Top 10 Sunny Isles Beach luxury condo sales:
- Regalia | 1 sale reflecting $1,632 PSF
- Chateau Beach | 1 sale reflecting $1,116 PSF
- Trump Royale | 3 sales at $922, 862 & $1025 PSF
- Acqualina | 1 sale at $1,106 PSF
- Trump Towers | 2 sales at $885 & $820 PSF
- Turnberry Ocean Colony | 1 sale at $883 PSF
- Ocean Four | 1 sale at $817 PSF
JADE Beach Condo Inventory, Sales & Rentals
JADE Beach (17001 Collins Avenue) has 35 (14% inventory) JADE Beach condo resales ranging from $888,000 (B1 Model) to $9.995M for a combined ‘Sky Villa’ (Two D2 model). The 3-Story JADE Beach penthouse ‘Sky Loft Penthouses’ both sold in 2015.
JADE Beach condos offer the most desirable location & value with an oceanfront lifestyle experienced only in Miami.
- The average JADE Beach list price per square foot reflects $1,102 ($1,211 PSF in AUG).
- The 90-day average selling price per square foot shows ZERO sales at $n/a and $n/a PSF at n/a days on market.
- JADE Beach condo sales in 2016 reflect 8 resales from $875,000 (B1 Model) to $3.240M (E Model).
- Last year’s median selling price per square foot reflects $950 at 241 days on market.
- The record high sale price value of 2016 was $1,055 PSF, $1,378 PSF in 2015 and $1,190 PSF in 2014.
In January, there are 26 JADE Beach condos for rent ranging in asking prices from $3,500 (B1 model) to $20,000 (E Model). Last year, 21 Jade Beach condos rented, ranging in values from $3,000 (B1 Model) to $10,500 (E Model).
JADE Ocean Condo Inventory, Sales & Rentals
JADE Ocean (17121 Collins Avenue) stands among the elite luxury condo towers of Sunny Isles Beach. JADE Ocean has 35 (14% inventory) condo resales available today with a few spectacular Jade Ocean Penthouse properties and “sky lofts” listed from $3.7M to $5.150M. Interiors on these Penthouse units range from 4-5 Bedrooms and from 3,700 to over 4,896 square feet. There are only 2 mirrored image ‘Sky Lofts’ (per Model) in each JADE building, and very few penthouses compare in Sunny Isles Beach.
Today’s resale prices at Jade Ocean begin with B1 & B2 floor plans from $975,000 to $1.195M respectively.
- JADE Ocean’s average asking price per square foot is at $1,257 ($1,275 in AUG) and buyers today are finding the selection most attractive.
- In the last 90 days, three sales have occurred from $1.050M to $2.2M (B2 & A Models).
- The record high sale price was in 2015 selling over $1,400 per square foot.
- Last year, ten sales occurred with the average selling price per square foot $1,035 at 222 days on market.
- Last year’s record high sale went to $1,267 per square foot while this year we enter a very strong buyer’s market.
There are 25 JADE Ocean rentals listed in January with prices ranging from $3,995 (B1 Model) to $32,000 for a beautifully furnished Jade Ocean Penthouse. Last year 23 condos rented ranging in values from $3,300 (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 consistently sold at a higher price point offering clear advantages to many.
(16901 Collins Avenue) JADE Signature is on its way in 2017 in 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 quite bullish on the success and demand at Jade Signature.
Today’s prices are over $1,400 per square foot – All one bedrooms have sold (with a waiting list to buy) while only larger 3 to 5 bedroom options remain. Today, approximately 90% 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
I provide outstanding exposure with global marketing and a tech-savvy style like no other. Market knowledge goes a long way and customers want to know today’s real estate climate in Sunny Isles Beach. I have a proven track record in Southeast Florida, and I’m available to market your JADE property effectively here on the JADE Condos authority website plus the many other websites you’ll find below.
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