Published by Peter Zalewski
3/15/2024 
10:13:22 PM 
Sunny Isles Beach is in a buyers market with nearly 15 months of condo supply listed for sale during the South Florida Winter Season.
Given the amount of inventory – six months of supply is considered equilibrium – on the market, we analyzed the condo projects with the greatest number of units listed for resale in the barrier island city sandwiched between the Atlantic Ocean west to Biscayne Bay, and stretching from Haulover Park north to the Golden Beach town limits.
This nearly three-mile long city is comprised of a variety of condo product ranging from dated midrise buildings constructed some 50 years ago to state-of-the-art glass towers designed by internationally acclaimed architects.
It is worth noting, buyers purchased an average of about 62 units per month in 2023 for a total of nearly 750 units at a price tag of more than $1 billion between January and December, according to a recent report.
The average transaction price for a Sunny Isles Beach condo was about $688 per square foot in 2023, according to the stats.
By comparison, the average asking price for the more than 930 Sunny Isles Beach condos on the market is about $917 per square foot, according to the stats.
We have crunched the statistics for the Year 2023 and have published a series of reports during the last two weeks on CondoVultures.com looking at the winners and losers in Sunny Isles Beach.
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This information is believed to be accurate and complete but cannot be guaranteed or warranted. For more information, please call 305.865.5859 or visit CondoVulturesRealty.com
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Condo Market Inventory Tracker
A Snapshot Of Tricounty South Florida Region Of Miami-Dade, Broward And Palm Beach
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 24,016 | 10.2 |
| Luxury Condos | 3,740 | 15.1 |
| Shortsales | 30 | 15.0 |
| REOs | 126 | 6.6 |
| Rentals | 21,476 | 3.9 |
Peter Zalewski is a licensed real estate broker and consultant focused on the South Florida condo market. Zalewski is a former special contributor to the Miami Herald and a former real estate columnist for The Real Deal magazine. Zalewski now hosts the Miami Real Estate Investing Podcast that is available in audio and video wherever you get your podcasts.
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