Sunny Isles Beach Luxury Condo Sales & Statistics – 2014
Sunny Isles Beach condo inventory has increased 10% since the prior 2013 blog post to 688 total condos for sale and 53 closed sales in the last 30 days (12.8 month supply). Sunny Isles Beach condos Sold (via MLS database):
- Today, as of January 14th, we see 20 closed sales with an average selling price per square foot of $438 (12% Increase) for an averaged yearly increase since 2011 reflecting 16%!
- 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 $500k, we see 327 condos for sale today with 384 closed sales last year averaging a selling price per square foot of $618 psf and selling at 94% of list price. In 2012, 356 (249 Sales in 2011) oceanfront condos over $500k sold with an average selling price per square foot of $543 ($520 sp$/psf in 2011 & $420 sp$/sf in 2010). If we take the top 10 of 2013 luxury condo sales, we find an average sales price per square foot of $1,125 and an average asking price per square foot of $1,275 psf reflecting an average 12% discount for new buyers in the Sunny Isles Beach luxury real estate market.
The Top 10 Sunny Isles Beach luxury condo sales
from the last 90 days were found at Turnberry Ocean Colony having 1 sale at $1,092 per square foot. JADE Ocean had 1 sale at $1,204 PSF, JADE Beach had 3 sales at $1,138, $1,065 and $1,086 psf. Acqualina had 1 sale at $1,107 psf while Trump Palace , Trump Royale and Trump Towers III & Tower I each had sales at $955, $904, $786 and $831 per square foot respectively.
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. Prices today begin at $2.295M (2 Bedroom) and upwards of $7.875M (4 bedroom). 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. We should see continued appreciation in both North & South Tower with the average asking price per square foot today at $1,068 ($984 in 2013, $1,051 in 2012, $972 psf in 2011 and $864 in 2010) while ‘sold’ price per square foot averages last year reflect $920 PSF.
Turnberry Ocean Colony North Tower Condo Inventory, Sales & Rentals
(16051CollinsAvenue.com) Turnberry Ocean Colony North Tower resales have 11 condos (8% inventory) for sale ranging in values from $2.295M (02 Exuma Model) to $4.3M for a 5 Bedroom/4.5 bath, 23th floor Eleuthera condo residence beautifully remodeled! The average Turnberry Ocean Colony North tower list price per square foot reflects $1,172 with the average selling price per square foot from the last 12 months reflecting $939 psf at 149 days on market plus an averaged 94% sale to list price ratio (6% buyer discount). Turnberry Ocean Colony North condo sales from the last 90 days show us 1 resale on a Martinique floor plan (#1103) selling at $3.8M or $1,092 psf as buyers continue grabbing premier luxury real estate along the Miami Beaches. With a large International demand, central location for major airports, strong confidence and a seller’s market, Miami has become a safe haven for many. There is just 1 Turnberry Ocean Colony North condo for rent in January asking $10,000 (2BR Exuma Model) which is Furnished. Turnberry Ocean Colony North tower had only 2 condos rented last year renting from $8,000 on a furnished Exuma model to $16,500 on a furnished 5 bedroom Martinique model.
Turnberry Ocean Colony South Tower Condo Inventory, Sales & Rentals
(16047CollinsAvenue.com) Turnberry Ocean Colony South Tower resales have 6 condo residences for sale today (5% inventory) with the high price on a Grand Cayman model asking $7.875M and the buildings low on an Exuma model priced at $2.299M. The average Turnberry Ocean Colony South tower list price per square foot reflects $1,061 with the average selling price per square foot from last year sales reflecting $901 psf at 141 days on market plus an averaged 91% sale to list price ratio (9% buyer discount). There are 3 Turnberry Ocean Colony South Tower rentals listed in January with asking prices ranging from $10,750 (unfurnished Exuma 2 bedroom) to $20,900 (partially furnished Grand Cayman 4 bedroom).
Ready to Sell or Lease 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 (5 Step Marketing) and efficient results whether selling or leasing your oceanfront condo. In February 2010, I released a new addition to the Sunny Isles Beach condo collection with the Turnberry Ocean Colony Sunny Isles website to replicate the success I had with the JADE Condos Sunny Isles authority website. Price points at Turnberry Ocean Colony have shown us increasing 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.
Ready to Buy 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 and shows 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 luxurious oceanfront towers. Call today 1.888.383.7326.