Sunny Isles Beach Luxury Condo Sales & Statistics

Sunny Isles Beach condo inventory is hovering 1,075 condos for sale and 44 closing in the last 30 days (24.4 month supply). So far in 2010, 338 Sunny Isles Beach condos have sold with an average sale price per square foot at $239. In a contrast comparison specific to luxury oceanfront condos on Collins Avenue (over $500k), we see 442 condos for sale with 80 closed sales so far this year averaging a selling price per square foot of $430 psf and selling at 90% of list price. Last year 162 oceanfront condos over $500k sold with an average selling price per square foot of $432.

If we take the top 10 luxury condo sales of the previous 90 day period, we find an average selling price per square foot of $585 ($566psf last month) and an average asking price per square foot of $651 ($618psf last month) reflecting an average 10% discount for new buyers (90% SP/LP%) in today’s Sunny Isles Beach condo market. 4 of the 10 highest closed sales were found at Turnberry Ocean Colony. The other top Sunny Isles Beach condo sales were found at Acqualina #PH4601 at $4.5M ($785psf), JADE Beach #4501 selling at $2M ($645psf), Trump Royale #4701 which sold at $1.490M ($494psf) along with record highs at Ocean One & Ocean Four.

Turnberry Ocean Colony Condos | Market Summary June 2010

Price points at Turnberry Ocean Colony sold as low as $970,000 (record low) last year setting a new motion for buyer interest & new sales in 2010. Prices today begin at $1.390M (2 Bedroom) and looking towards a fast turnaround with ‘9‘ recent pending contracts and 5 closed sales from $1.050M to $2.550M in the last 90 days. I believe Turnberry Ocean Colony South & North Towers will have a strong 2010 finish having noted the market bottom in 2009 with 26 closed sales averaging only $581 psf at steep buyer discounts. We should note prices rising this year with the average asking price per square foot today at $818. We’ll soon see the facts & truth in numbers reported here on all condo sales, statistics & trends for Turnberry Ocean Colony Sunny Isles Beach. I’ll explore the fine analytics below educating everyone interested in these traditional luxury towers of Sunny Isles Beach. On to the Ocean Colony details..

Turnberry Ocean Colony North Tower Condo Inventory, Sales & Rentals

(http://16051CollinsAvenue.com) Turnberry Ocean Colony North Tower resales now have 8 (6% inventory) residences ranging in values from $1.439M (02 Exuma Model) to $3.950M for a 5 Bedroom/5.5 bath, 33rd floor condo residence. The average Turnberry Ocean Colony North tower list price per square foot reflects $890 ($863 last month) with the average selling price per square foot from the last 6 months reflecting $548psf at 276 days on market plus an averaged 87% sale to list price ratio (13% buyer discount).

Turnberry Ocean Colony North condo sales from the last 90 days report 3 resales including the Abaco model (#901) selling at $1.8M ($649psf), the Eleuthera model selling at only $1.830M ($477psf) and the Exuma model which sold at $1.050M ($477psf). We see 8 pending condo sales with asking prices from $1.060M to $2.890M as buyers take advantage of discounted pricing and a renewed confidence in the Miami Beach residential condo market.

Turnberry Ocean Colony North tower rentals had 1 condo rented in the last 6 months at $7,700 for an unfurnished Abaco model (3 BR). There are only 4 Ocean Colony North residences ranging in asking values from $6,700 (2BR Exuma Model) to $28,000 (Penthouse #3702).

Turnberry Ocean Colony South Tower Condo Inventory, Sales & Rentals

(http://16047CollinsAvenue.com) Turnberry Ocean Colony South Tower resales now reflect 17 (13% inventory) condo residences averaging $774 per square foot with the high price on a Eleuthera model asking $4.295M and the low on an Exuma model priced at $1.390M (4th floor). In the last 90 days, 2 sales have occurred in the South Tower at a bargain price of $1.830M ($660psf) on condo #3101 while #2903, a 5BR, just sold at $2.550M ($733psf). Only 1 Ocean Colony South condo residence is pending sale with an asking value of $1.550M.. #2801 Abaco bargain!

There are 6 Turnberry Ocean Colony South rentals listed with asking prices ranging from $5,750 (furnished 2 bedroom) and upward to $10,000 for a 3 bedroom Abaco model. Residence #2304 is still pending at $11,000 while #2201 just went pending at an asking price of $9,000. The most recent rental was an unfurnished 5 bedroom renting at $8,000.

Thank you for Visiting the Turnberry Ocean Colony Blog

Now you have access to new monthly updates, videos & statistics geared towards these exquisite oceanfront towers of Turnberry Ocean Colony which are preferred by many. The original MiamiDreamRealty.com was revamped showcasing the entire Miami Dade Beaches luxury MLS listings for ease & immediate information for your knowledge. The upgraded MLS property search was also implemented here at TurnberryOceanColonySunnyIsles.com and you have Ocean Colony condo inventory for rent & sale at your fingertips! Feel free to leave a comment and let me know what’s on your mind pertaining to Turnberry Ocean Colony Condos or any other real estate along Sunny Isles Beach.

**All figures & data derived from the Southeast Florida Regional (MLX) Multiple Listing Service.