The SoFlo Intel Report | Sunny Isles Edition

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SoFlo Intel Report GREAT BUYS IN SOUTH FLORIDA’S POPULAR NEIGHBORHOODS | SUNNY ISLES EDITION

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Welcome to SoFlo Intel Report. Related ISG’s submarket snapshot of the best buys in South Florida’s best neighborhoods. Each edition, we’ll dive into factors and projects that makes these neighborhoods so popular. This edition we’ll focus on one of South Florida’s hottest condo market, Sunny Isles.


Sunny Isles Absorption Analysis for New Condos built since 2012

TOTAL UNSOLD DEVELOPER UNITS

600

517

500

409

400

304

300

197

200

100

0

Jan 2018

Jan 2019

Jan 2020

Mar 2021

2,218

Total Units Released since 2012

Source: Developer Onsite Sales Offices, Developer Sales Reports and Broker Contacts


CURRENT CYCLE

Sunny Isles Future Deliveries for Traditional Condos Traditional Condos are defined as Condos with no short-term rentals

5

Estates at Acqualina North Tower

4

3

2

Estates at Acqualina South Tower

1

Aurora

2

1

0

2021

*Projected

2022

0

0

0

0

2023

2024

2025*

2026*


Sunny Isles Resale Snapshot for condos built since 2012 TOTAL ACTIVE LISTINGS

600

T O TA L A C T I V E L I S T I N G S

500

488

26.89%

Real Estate Rule of Thumb

402

22.15%

400

10% or more of inventory = Buyers market 10% or less of inventory = Seller’s market BUYERS MARKET

304

16.75%

300

200

100

Mar 2019

Source: MLS

Mar 2020

Mar 2021


Sunny Isles New Condo Resales 2019 - 2021 SOLD RESALES

41

2021

JAN - MAR 60% of 2020 Sales

Jan-Dec

31

2019 Jan-Dec 0

Source: MLS

45% more Sales than 2019

69

2020

10

20

30

40

50

60

70

80

90

100


At Current Sales Pace, Sunny Isles MLS Resales looking to surpass 2020 by May


305.931.6511 | RELATEDISGREALTY.COM OFFICES Aventura | Coral Gables | Edgewater | Fort Lauderdale | Weston


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