Sunny Isles Beach Luxury Condo Sales & Statistics – April 2014
Sunny Isles Beach condo inventory has increased 14% since the prior 2014 blog post to 803 total condos for sale and 57 closed sales in the last 30 days (14 month supply). Sunny Isles Beach condos Sold (via MLS database):
- Today, as of April 22nd, we see 249 closed sales in 2014 with an average selling price per square foot of $436 (11% Increase).
- 2013 Sales totaled 1,006 with an average sale price per square foot at $387 PSF (15% Increase).
- 2012 Sales totaled 1,051 with an average sale price per square foot of $329 PSF (22% Increase).
- 2011 Sales, 1,066 Sales occurred at an average sale price per square foot at $258 PSF.
In a contrast comparison of luxury oceanfront condos specific to Collins Avenue and over $500,000, we see 389 condos for sale today with 105 closed sales this year averaging a selling price per square foot of $668 psf and selling at 94% of list price (Average 6% buyer discount). Sales oceanfront condos over $500k sold:
- 2013 – 387 Sales with an average selling price per square foot of $616 (13% Increase)
- 2012 - 365 Sales with an average selling price per square foot of $535 (5% Increase)
- 2011 - 250 Sales with an average selling price per square foot of $506 (13% Increase)
- 2010 - 184 Sales with an average selling price per square foot of $440
If we take the top 10 of 2014 luxury condo sales, we find an average sales price per square foot of $1,079 and an average asking price per square foot of $1,176 psf reflecting an average 8% discount for new buyers in the Sunny Isles Beach luxury real estate market.
The Top 10 Sunny Isles Beach luxury condo sales
In the last 90 days the highest sales were found at Turnberry Ocean Colony having 5 sales at $1,221, $1004,$950, $1,024, & $958 psf while Oceania V had a trophy penthouse sale at $749 psf. There were 2 high sales at JADE Ocean ($1,085 & $1,288 psf) and 2 high Sales at JADE Beach ($1,190 & $1,048 psf).
Turnberry Ocean Colony…
Turnberry Ocean Colony Condo Sales & Trends | Market Summary
Price points at Turnberry Ocean Colony in 2013 showed 18 total sales as low as $1,740M with a record high of $3.7M. 2009 set a record low for Turnberry Ocean Colony of $970k while 2011 had the highest sale at $4.9M. 2011 year was considered the turnaround year for the local Sunny Isles Beach real estate market and notably T.O.C. values have done quite well as we looked at aggressive prices and strong sales to match. Last year there were 18 closed sales ranging from $1.740M (2 bedroom) to $3.7M (4 bedroom). Turnberry Ocean Colony South & North Towers will remain a strong contender for years to come even among new construction having noted the market bottom in 2009 with 26 closed sales averaging only $581 psf at steep buyer discounts. Prices today begin at $2.188M (2 Bedroom) and upwards of $9.499M (4 bedroom). We should see continued appreciation in both North & South Tower with the average asking price per square foot today at $1,270 ($1,068 in January, $984 in 2013, $1,051 in 2012, $972 psf in 2011 and $864 in 2010) while ‘sold’ price per square foot so far this year averages $998 PSF.
Turnberry Ocean Colony North Tower Condo Inventory, Sales & Rentals
(16051CollinsAvenue.com) Turnberry Ocean Colony North Tower resales have 9 condos (7% inventory) for sale ranging in values from $2.245M (02 Exuma Model) to $4.299M for a 4 Bedroom, 16th floor, Eleuthera residence beautifully remodeled! The average Turnberry Ocean Colony North tower list price per square foot reflects $1,144 with the average selling price per square foot from the last 6 months reflecting $969 psf at 188 days on market plus an averaged 91% sale to list price ratio (9% buyer discount).
Turnberry Ocean Colony North condo sales from the last 90 days show us 2 resales selling at an averaged $977 psf. Buyers are continuing the property grab when it comes to premier luxury real estate along the Miami Beaches. With a large International demand, central location to major airports, strong confidence and a seller’s market, Miami has become a safe haven for many.
There are 4 Turnberry Ocean Colony North condo for rent in April with prices ranging from $16,500 to $20,900 all of which are Furnished. Turnberry Ocean Colony North tower had only 1 rented value this year renting #702 for $9,000 on a furnished Exuma model.
Turnberry Ocean Colony South Tower Condo Inventory, Sales & Rentals
(16047CollinsAvenue.com) Turnberry Ocean Colony South Tower resales have 10 condo residences for sale today (8% inventory) with prices ranging from $2.188M to $9.499M. The average Turnberry Ocean Colony South tower list price per square foot reflects $1,193 with the average selling price per square foot this year reflecting $1.068 at 112 days on market plus an averaged 95% sale to list price ratio (5% buyer discount).
There are 3 Turnberry Ocean Colony South Tower rentals listed in April with asking prices ranging from $10,750 (unfurnished Exuma 2 bedroom) to $24,990 (furnished Abaco 3 bedroom).
Selling or Leasing at Turnberry Ocean Colony?
In Miami, results are very dependent on the broker or Realtor® you decide to hire to service, show and sell your property. When hiring someone to sell or lease your Turnberry Ocean Colony condo, look for strong global marketing with intimate local market knowledge and a proven track record & reputation selling luxury condos along Sunny Isles Beach. I’m available to market globally here on this website and on other luxury condo websites such as MiamiPenthousesandEstates.com & MiamiDreamRealty.com. Visit me today for further details on a very powerful marketing plan (Marketing Strategy) and efficient results whether selling or leasing your oceanfront condo. In February 2010, I released this addition to the Sunny Isles Beach condo collection with the Turnberry Ocean Colony Sunny Isles website & blog to replicate the success I had with the JADE Condos Sunny Isles authority website. In April of this year, I have joined ONE Sotheby’s International Realty for an even better International marketing presence. This global powerhouse is sure to showcase your premier property to the world. Price points at Turnberry Ocean Colony have shown us an uptick in sale prices since 2010 beginning in the high $1M’s and noting steady upswing with a renewed buyer confidence in Miami Beach oceanfront real estate.
Buying at Turnberry Ocean Colony?
The original Sunny Isles Beach condo resource MiamiDreamRealty.com showcases the entire luxury Southeast Florida MLS listing database while the Turnberry Ocean Colony property database accesses the MLS directly to show each new luxury property as they are listed. You’ll also find excellent local Sunny Isles Beach statistics at the Miami Beach Real Estate Blog. Feel free to leave a comment below and let me know what’s on your mind regarding Turnberry Ocean Colony Towers or any other luxury condo tower along the Miami Dade County coastline. Enjoy and thank you for visiting!
Now you have access to all the properties for sale & rent, new condo updates, videos & sales statistics at this Turnberry Ocean Colony condo website & blog geared towards these luxury oceanfront condo towers.
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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