Is Sunny Isles, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Sunny Isles was a Neutral Market.
Key Takeaway
Sunny Isles is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sunny Isles, FL
How much do homes in Sunny Isles, FL cost?
Median Sold Price
$900,000
$624/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sunny Isles have sold for 15.6% more than they did a year ago.
Summary: The median home sold price in Sunny Isles was $900,000 in March 2024, up 15.6% from last year, and the median price per square foot was $624.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $306.2K | $337.5K | +10.2% |
| 2 Bedrooms | $588K | $610K | +3.7% |
| 3 Bedrooms | $1.6M | $1.8M | +13.3% |
| 4 Bedrooms | $4.2M | $4.0M | -6.2% |
| 5+ Bedrooms | $7.6M | $8.0M | +5.3% |
Summary: Sunny Isles housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes increased by 5.3%.
Housing Supply in Sunny Isles, FL
How many homes are available in Sunny Isles, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 802 | 911 | +13.6% |
Summary: The Sunny Isles real estate market had 911 homes for sale in March 2024, a 13.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 146 | 165 | +13.0% |
| 2 Bedrooms | 304 | 357 | +17.4% |
| 3 Bedrooms | 221 | 245 | +10.9% |
| 4 Bedrooms | 97 | 106 | +9.3% |
| 5+ Bedrooms | 34 | 38 | +11.8% |
Summary: The Sunny Isles housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 54 | +42.1% |
Asking Price vs. Sold Price
48 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sunny Isles, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.
Summary: A total of 54 homes were sold or pending in Sunny Isles in March 2024, up by 42.1% month-over-month. Of the 54 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% were sold over asking.
Days on Market for Sunny Isles, FL
How long does it take to sell a home in Sunny Isles, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 114 Days | 110 Days | -2.9% |
Summary: Homes in Sunny Isles had an average of 110 days on market in Mar 2024, down by 2.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
26 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Sunny Isles are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 54 homes were sold in Sunny Isles; 26% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 48% of homes were sold over 90 days.
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