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 April 2023
At the same time last year, Sunny Isles Beach was a Neutral 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
$912,366
$625/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Sunny Isles Beach have sold for 17.3% more than they did a year ago.
Summary: The median home sold price in Sunny Isles Beach was $912,366 in April 2024, up 17.3% from last year, and the median price per square foot was $625.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $309K | $335K | +8.4% |
| 2 Bedrooms | $600K | $600.1K | 0.0% |
| 3 Bedrooms | $1.5M | $1.8M | +18.1% |
| 4 Bedrooms | $4.2M | $3.9M | -7.9% |
| 5+ Bedrooms | $7.6M | $8.0M | +5.3% |
Summary: Sunny Isles Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 18.1%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Sunny Isles Beach | $777.5K | $912.3K | +17.3% |
| North Miami | $349.7K | $400.6K | +14.5% |
| Aventura | $498.1K | $500K | 0.4% |
Housing Supply in Sunny Isles Beach, FL
How many homes are available in Sunny Isles Beach, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 855 | 934 | +9.2% |
Summary: The Sunny Isles Beach real estate market had 934 homes for sale in April 2024, a 9.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 154 | 175 | +13.6% |
| 2 Bedrooms | 331 | 360 | +8.8% |
| 3 Bedrooms | 233 | 245 | +5.2% |
| 4 Bedrooms | 101 | 114 | +12.9% |
| 5+ Bedrooms | 36 | 40 | +11.1% |
Summary: The Sunny Isles Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 63 | 73 | +15.9% |
Asking Price vs. Sold Price
69 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Sunny Isles Beach, you may be able to get a good deal. 94.5% of homes here sold below asking price last month.
Summary: A total of 73 homes were sold or pending in Sunny Isles Beach in April 2024, up by 15.9% month-over-month. Of the 73 sold homes, 95% were sold under asking, 4% were sold at asking, and 1% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 98 Days | 116 Days | +18.0% |
Summary: Homes in Sunny Isles Beach had an average of 116 days on market in Apr 2024, up by 18% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
35 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 April 2024, 73 homes were sold in Sunny Isles Beach; 21% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 48% of homes were sold over 90 days.
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