Jade Condos Sunny Isles Beach condo sales & trends for November 2021 look vital for the trio towers.
Our Oceanfront residential market values noticed considerable price gains over the eight years spanning from 2009 to 2016. From early 2016 to the latter part of 2020, we found ample supply with limited demand in a strong buyer’s market.
Sunny Isles Beach Sales & Statistics
Sunny Isles Beach condo inventory today reflects 801 total condos for sale and 313 closed sales in the last 90 days, with a median sale price value of $491 per square foot. With continued condo inventory absorption along the Miami-Dade coastline, units sold and the price increases continue to set area records and increase median values.
With new developments selling out, Sunny Isles Beach’s resale absorption is rising. Especially within the baseline of the high-end market segment ($1M to $3M), we find supply low and demand high. In addition to the residential condo market shifting last year in favor of sellers, we’ve also witnessed the gorgeous luxury developments gracing our coastlines. These developments include JADE Signature, MUSE, Armani Casa Residences, Ritz-Carlton Sunny Isles, Turnberry Ocean Club, and the soon-to-be Estates at Acqualina.
This new construction has taken over Collins Avenue with a surreal experience driving over the causeways. It’s truly a sight to behold in this new market. The $3M+ condo resales still have over 188 options, with a median list price value of $1,621 psf, a high of $3,584 psf, and a low of $732 per square foot.
Jade Condos Sunny Isles Resale Values
Values at Jade Condos Sunny Isles will likely continue to climb next year, especially with international buyers returning to Miami. For now and likely the remainder of the year, the market favors sellers with exceptional values. Buyers above $3M may still cherry-pick for excellent properties & good opportunities along the coastal communities of South Florida.
Jade Condos Sunny Isles; JADE Beach Condos
The JADE Beach tower’s future upside is vital as the original oceanfront tower and values to match. Jade Beach will continue to reign as the leading tower for location and exceptional value. This year many current residents are leasing their units for the long term. There are 9 resales (3% inventory) available, ranging from $1.920m (C Model) to $4.299m for (D2 Model) #4505. Jade Beach condos offer one of the most attractive Collins Avenue locations, plus excellent value when seeking the oceanfront lifestyle experienced only in Miami.
- The average JADE Beach list price per square foot reflects $1,149psf.
- There are 9 resales from $1.920m (C Model) to $4.299m (D2 Model).
- 2021 (YTD), 25 resales have occurred with a median sale price per square foot of $887 psf and 202 days on the market.
- 2020, 20 resales occurred with a median sale price per square foot of $778 psf and 145 days on the market.
- 2019, 9 resales occurred with a median sale price per square foot of $764 psf and 210 days on the market.
- 2018 (10 total sales) was $818 psf at 178 days on the market.
- The median selling price per square foot in 2017 (7 total sales) was $877 at 243 days on the market.
- The median selling price per square foot in 2016 (8 total sales) was $1,010 at 219 days on the market.
As of November 2021, there are 8 JADE Beach condos for rent ranging in asking prices from $4,000 (B1 model) to $18,000 (E Model). YTD, 21 Jade Beach condos have been rented, ranging in value from $3,700 (B1 Model) to $15,000 (D2 Model).
Jade Condos Sunny Isles; JADE Ocean Condos
The JADE Ocean tower stands among the elite luxury condo towers of Sunny Isles Beach.
JADE Ocean has 17 (7% inventory) condo resales available today, with an extraordinary penthouse that should sell soon. Interiors on these JADE Penthouse condos range from 1 to 6 Bedrooms and from 858 to over 5,134 square feet.
There are only 2 mirrored images known as the ‘Sky Loft Penthouse’ in each Jade Condo building. Very few penthouses can compare along Sunny Isles Beach. Today’s resale prices at Jade Ocean begin with 1-bedroom condos from $1.190m with more extensive 5-bedroom options priced at $7.499m.
While some prefer JADE Beach as a place to call home, JADE Ocean condos have consistently sold & leased at higher price points, offering clear advantages to many.
- The average JADE Ocean list price per square foot is $1,286psf.
- There are 17 resales from $1.190m (B1 Model) to $7.499M (#4604).
- 2021 (YTD), 29 resales occurred with a median sale price per square foot of $937 psf and 230 days on the market.
- 2020, 8 resales occurred with a median sale price per square foot of $854 psf and 187 days on the market.
- 2019, 12 sales occurred with a median sale price per square foot of $839 psf and 324 days on the market.
- 2018, 5 condos sold from $1.425M to $2.9M (C & E Models) at a median sale price of $958 PSF and 107 days on the market.
- The median selling price per square foot in 2017 (11 total sales) was $991 PSF at 216 days on the market.
- The median selling price per square foot in 2016 was $1,087 at 137 days on the market.
There are 8 JADE Ocean rentals listed in November 2021, ranging from $6750 for a B1 Model to $25,000 for a beautifully furnished (E Model). YTD, 25 Jade Beach condos have been rented, ranging in value from $4,100 (B1 Model) to $18,000 (E Model).
Jade Condos Sunny Isles; JADE Signature Condos
The JADE Signature tower was completed early in 2018, and it’s a fantastic addition to the JADE trio and this epic new construction lineup along the Sunny Isles Beach coastline. Jade Signature offers spacious floor plans and expansive outdoor living areas with a gorgeous architectural design and amenities to match.
There are over 44 Jade Signature condos for sale today, with excellent resale opportunities remaining. The discounts and deals are apparent now as actual market values are easy to spot. A turn-key Jade Signature Penthouse #5503 sold in 2019 at $18.5M ($2,015 psf). This set the area record for an existing Sunny Isles Beach condominium.
Like Porsche Design Tower, Jade Signature will continue to show exceptional value for Florida’s Riviera. Why? A healthy building is considered less than 10% – today, Jade Signature has 44 units or 23% available with many pre-construction owners now landlords.
Jade Signature Condos are desirable, and I’m bullish on the continued demand.
“We sold $51 million worth of units in the first quarter. The building, which launched sales in 2013, is “95% or 96% sold out.” – Carlos Defortuna
- Today’s new pricing has a median list price per square foot of $1,665 psf.
- In 2021 (YTD), 18 resales occurred with a median sale price per square foot of $1,190 psf and 294 days on the market.
- 2020, 10 resales occurred with a median sale price per square foot of $1,221 psf and 184 days on the market.
- 9 sales were noted in 2019 (via MLS), with the median sale price per square foot at $1,244. #PH5503 was included herein and sold at $2,015 psf setting a new area record at $18.5M. These other 8 sales had a median sale price value of $1,226 psf and 307 days.
Jade Signature active rentals consist of 4 options ranging in value from $25,000 (3 BR Furnished) upwards to $35,000 for a 4 Bedroom. YTD, 26 condos rented from $5,900 (1 BR) to $32,500 (4 BR Furnished) with a median rent price of $5.77psf.
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