Turnberry Ocean Colony Sunny Isles Beach Condo Sales, Stats & Trends June 2014
Sunny Isles Beach Luxury Condo Sales & Statistics – June 2014
Sunny Isles Beach condo inventory has increased 3% since the prior 2014 blog post to 826 total condos for sale and 53 closed sales in the last 30 days (15.5 month supply). Sunny Isles Beach condos Sold (via MLS database):
- Today, as of June 13th, we see 379 closed sales in 2014 with an average selling price per square foot of $418 (7% 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 411 condos for sale today with 143 closed sales this year averaging a selling price per square foot of $675 psf and selling at 94% of list price (Average 6% buyer discount) and 121 days on market. 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 $1,133 and an average asking price per square foot of $1,255 psf reflecting an average 10% 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 Regalia Residences with its 1st closing of $10.7M or $1,940 PSF setting a new area record for Sunny Isles beach. Turnberry Ocean Colony was a huge performer having 6 sales at $1,078, $1004, $1004, $1,043, $950, $847 psf while Oceania V had a trophy penthouse sale at $749 psf. There were also 2 high sales at JADE Ocean ($1,283 psf) and Trump Tower I ($939 psf).
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 considerably well as we looked at aggressive prices and strong sales to match. 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 $1,206 ($1,270 in April, $1,068 in January, $984 in 2013, $1,051 in 2012, $972 psf in 2011 and $864 in 2010) while ‘sold values’ per square foot so far this year average $971 PSF.
Turnberry Ocean Colony North Tower Condo Inventory, Sales & Rentals
(16051CollinsAvenue.com) Turnberry Ocean Colony North Tower resales have 7 condos (5% inventory) for sale ranging in values from $2.199.500M (02 Exuma Model) to $4.999M for a 4 Bedroom, 32nd floor, Eleuthera residence beautifully remodeled. The average Turnberry Ocean Colony North tower list price per square foot reflects $1,189 with the average selling price per square foot from the last 6 months reflecting $999 psf at 340 days on market plus an averaged 92% sale to list price ratio (8% buyer discount).
Turnberry Ocean Colony North condo sales from the last 90 days show us 3 resales selling at an averaged $999 psf. Buyers are continuing to grab premier property when it comes to luxury real estate around $1,000 PSF 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 6 Turnberry Ocean Colony North condos for rent in June with prices ranging from $12,000 to $22,900 all of which are Furnished. The North tower has seen only 1 rental this year with #702 rented in January for $9,000 as a furnished Exuma model.
Turnberry Ocean Colony South Tower Condo Inventory, Sales & Rentals
(16047CollinsAvenue.com) Turnberry Ocean Colony South Tower resales reflect 8 condo residences for sale today (6% inventory) with prices ranging from $2.188M to $9.499M. The average Turnberry Ocean Colony South tower list price per square foot reflects $1,206 with the average selling price per square foot this year reflecting $982 at 117 days on market plus an averaged 90% sale to list price ratio (10% buyer discount).
There are 3 Turnberry Ocean Colony South Tower rentals listed in June with asking prices ranging from $10,750 (unfurnished 2 bedroom) to $20,900 (partially furnished 3 bedroom).
Selling or Leasing at Turnberry Ocean Colony?
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 found below. Visit me today for further details on a very powerful 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 fun & success I had with the JADE Condos Sunny Isles authority website. In April of this year, I joined ONE Sotheby’s International Realty for an extraordinary International marketing presence. This International powerhouse along with my personal marketing is sure to showcase and deliver your premier property to the world and to the right buyers.
Buying at Turnberry Ocean Colony?
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’s oceanfront real estate. 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. 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 positioned at the forefront of luxury oceanfront condo towers.
If you would like to schedule a meeting with me, contact my office at 786.27.DREAM or toll free at 888.38.DREAM. I’m a Miami area real estate specialist. Since 2002, I have sold, serviced & marketed Sunny Isles Beach to South Beach along with Aventura to Coral Gables. If you would like to discuss Miami real estate now, please feel free to call me direct at #305.978.7704 or send me a note here.
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Don’t Miss Today’s News from Our Other Miami Real Estate Websites & Blogs:
- Jade Beach, Jade Ocean & Jade Signature Condos
- Turnberry Ocean Colony Condos