SoFlo Intel Report GREAT BUYS IN SOUTH FLORIDA’S POPULAR NEIGHBORHOODS | SUNNY ISLES BEACH 2.0 EDITION
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Welcome to the SoFlo Intel Report: RelatedISG Realty’s submarket snapshot of the best buys in South Florida’s best neighborhoods. In each issue, we will dive into factors and projects that make these neighborhoods so popular. In this edition, we will focus on South Florida’s Sunny Isles Beach Market.
Sunny Isles Absorption Analysis for New Condos built since 2012 2,118
TOTAL UNITS RELEASED
UNSOLD DEVELOPER UNITS
400
348
350
294
300 250
163
200 150 100 50 0
Q2-2019
Q2-2020
Q2-2021
Sunny Isles Resale Snapshot for condos built since 2012
400
366 17%
TOTAL ACTIVE LISTINGS
350
REAL ESTATE RULE OF THUMB 10% OR MORE OF INVENTORY = BUYER’S MARKET
301 14%
300
10% OR LESS OF INVENTORY = SELLER’S MARKET
BUYERS MARKET
256 12%
250 200 150 100 50 0
Q2-2019
Q2-2020
Q2-2021
Sunny Isles New Condo Resales 2019 - 2021 (Condos Built Since 2012)
123
JAN - JUL
2021
69
JAN - DEC
2020
JAN - DEC
2019
31 0
20
40
60
80
TOTAL SOLD RESALES
100
120
140
JAN - JULY 178% OF 2020 SALES
At current sales pace, Sunny Isles MLS resales is on pace to triple 2020 sales by Q4 2021
305.931.6511 | RELATEDISGREALTY.COM OFFICES AVENTURA | CORAL GABLES | EDGEWATER | FORT LAUDERDALE | WESTON