Is Sunny Isles Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Sunny Isles Beach was a Seller's Market.
Key Takeaway
Sunny Isles Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sunny Isles Beach, FL
How much do homes in Sunny Isles Beach, FL cost?
Median Sold Price
$812,812
$581/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Sunny Isles Beach have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Sunny Isles Beach was $812,812 in November 2023, up 1.7% from last year, and the median price per square foot was $581.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $316.2K | +5.4% |
| 2 Bedrooms | $578.3K | $573.1K | -0.9% |
| 3 Bedrooms | $1.5M | $1.8M | +22.4% |
| 4 Bedrooms | $3.5M | $4.2M | +19.8% |
| 5+ Bedrooms | $4.6M | $7.3M | +57.3% |
Summary: Sunny Isles Beach housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes increased by 57.3%.
Median Sold Price Compared To Nearby Cities
| North Miami | $328K | $376.6K | +14.8% |
| Aventura | $471.9K | $492.5K | +4.4% |
| Sunny Isles Beach | $798.8K | $812.8K | +1.7% |
Housing Supply in Sunny Isles Beach, FL
How many homes are available in Sunny Isles Beach, FL?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 686 | 741 | +8.0% |
Summary: The Sunny Isles Beach real estate market had 741 homes for sale in November 2023, a 8.0% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 127 | 134 | +5.5% |
| 2 Bedrooms | 259 | 272 | +5.0% |
| 3 Bedrooms | 187 | 207 | +10.7% |
| 4 Bedrooms | 88 | 93 | +5.7% |
| 5+ Bedrooms | 25 | 35 | +40.0% |
Summary: The Sunny Isles Beach housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 52 | 40 | -23.1% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sunny Isles Beach, you may be able to get a good deal. 97.5% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in Sunny Isles Beach in November 2023, down by 23.1% month-over-month. Of the 40 sold homes, 98% were sold under asking, 3% were sold at asking, and 0% were sold over asking.
Days on Market for Sunny Isles Beach, FL
How long does it take to sell a home in Sunny Isles Beach, FL?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 110 Days | 79 Days | -28.0% |
Summary: Homes in Sunny Isles Beach had an average of 79 days on market in Nov 2023, down by 28% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Sunny Isles Beach are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2023, 40 homes were sold in Sunny Isles Beach; 35% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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