Sunny Isles Beach Condo Outlook Dims As Resale Inventory Grows
In this edition of the Miami Condo Market Intelligence Report With Peter Zalewski? on LinkedIn, we examine macro condo trends in the northern portion of the Miami-Dade County barrier island.
LinkedIn Volume 2024, Issue 6 (Subscribe here)
Welcome to the sixth LinkedIn issue of the Miami Condo Market Intelligence Report With Peter Zalewski?.
In this week’s newsletter, we examine the macro condo trends emerging in the northern portion of the Miami-Dade County barrier island where the municipalities of Sunny Isles Beach, Bal Harbour, Surfside and Bay Harbor Islands are located.
The reports and accompanying charts are based on research we conducted using our proprietary information, private records and government statistics.
The first story focuses on how Sunny Isles Beach now has about 15 months of condo supply listed for resale.
In the second story, we examine how distressed condos are surfacing in many well-known Sunny Isles Beach projects, including the Porsche Design Tower.
The third story looks at how renters are gaining the upper hand over landlords in Sunny Isles Beach.
For the fourth story, we provide a snapshot of the buyers market that has emerged in the Bal Harbour-Surfside-Bay Harbor Islands area on the barrier island.
In the fifth story, we discuss how landlords need months and months to lease out units in the Bal Harbour-Surfside-Bay Harbor Islands area.
It is a lot of information but we are confident our reports will assist you to better understand current market conditions in Miami Beach.
It is worth noting that we are sharing a portion of our research for free with subscribers to our newsletter and readers of CondoVultures.com. If you want access to all of our published information, we would encourage you to join the newly launched Miami Condo Market Investment Club?.
Additionally, we encourage you to check out our video and audio podcasts.
As a reminder, we are always available for consulting, expert witness work and buyside brokerage services just as we have been since 2006. If you want more information, please visit CondoVultures.com or call the office at 305.865.5859.
Story 1
Sunny Isles Beach Condo Resale Supply Increases To 15 Months
A review of the latest condo statistics shows the Sunny Isles Market market has more than 915 units for resale during the South Florida Winter Buying Season.
Story 2
Porsche Design Tower Condo Among Distressed Units For Sale In Sunny Isles Beach
At least seven distressed units – both REOs and shortsales – are listed for sale at an average price of about $784 per square foot in Sunny isles Beach.
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Story 3
Tenants, Not Landlords, Increasingly Control Sunny Isles Beach Rental Market
A review of the latest statistics shows that Sunny Isles Beach now has more than seven months of rental supply listed during the South Florida Winter Buying Season.
Story 4
Bal Harbour–Surfside–Bay Harbor Islands Area Has 14 Months Of Condo Resale Supply
A review of the latest condo statistics shows the Bal Harbour–Surfside–Bay Harbor Islands market has more than 330 units for resale during the South Florida Winter Buying Season.
Story 5
Rental Listings Sit 74 Days Without A Tenant In Bal Harbour–Surfside–Bay Harbor Islands Market
A review of the latest statistics shows that Bal Harbour–Surfside–Bay Harbor Islands rentals were leased in 59 days in 2023.
This information is believed to be accurate and complete but cannot be guaranteed or warranted.
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Commercial Real Estate Advisor Multifamily, Land & Development - Coldwell Banker - Miami/Sarasota
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