Market report for Sunny Isles Beach.

Monday, December 12, 2016

By Fernando Pettineroli, listing agent with Dezer Platinum Realty LLC. 
Sunny Isles Beach, Fl. The market is responding very positively and we expect to continue on the rise during the first quarter of 2017, just like the stock and currency markets. We just seem to be out of a natural "profit taking" period in the pre-electoral months and back on track, despite the minimum adjustments in interest rates.
Top performers continue to be on the beach side. Focus on our flagship: Porsche Design Tower Miami, with only 5 available units starting on the $6 million range and topping at $33 million. And upcoming Residences by Armani/Casa, starting at the $2 million range.
The Trump Tower buildings closing at an incredible below $ 800 per sq ft,, are receiving in our systems a substantial interest from overseas. Large direct ocean front units are on the rise with one of the most affordable rates for the international buyer.
At this pace, all these large units under $ 1,000.00 per sq/ft/ should go sold by the first half of 2017.

Investor's favorite: condo hotel.

The market started with 41 new listings, 55 price decrease, 22 pending sale and 22 expired, starting to revert the "buyers market" tendency from the last months into a more balanced market. Ten units where reported sold. The highest sale of the week was a 2,750 sq.ft unit at Ocean 4, unit 3501 at $ 2,250,000 or $ 816 per sq.ft.

You Might Also Like