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 May 2023
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
$902,500
$622/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sunny Isles Beach have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in Sunny Isles Beach was $902,500 in May 2024, up 15.3% from last year, and the median price per square foot was $622.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $309K | $348K | +12.6% |
| 2 Bedrooms | $578.3K | $607.7K | +5.1% |
| 3 Bedrooms | $1.5M | $1.8M | +21.8% |
| 4 Bedrooms | $4.2M | $3.8M | -8.3% |
| 5+ Bedrooms | $7.6M | $8.0M | +5.3% |
Summary: Sunny Isles Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 21.8%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Sunny Isles Beach | $782.6K | $902.5K | +15.3% |
| North Miami | $360K | $400K | +11.1% |
| Aventura | $497.2K | $491.7K | -1.1% |
Housing Supply in Sunny Isles Beach, FL
How many homes are available in Sunny Isles Beach, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 859 | 896 | +4.3% |
Summary: The Sunny Isles Beach real estate market had 896 homes for sale in May 2024, a 4.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 167 | 182 | +9.0% |
| 2 Bedrooms | 320 | 332 | +3.8% |
| 3 Bedrooms | 225 | 233 | +3.6% |
| 4 Bedrooms | 110 | 109 | -0.9% |
| 5+ Bedrooms | 37 | 40 | +8.1% |
Summary: The Sunny Isles Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 8.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 82 | 53 | -35.4% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
1 Home Was 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. 96.2% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Sunny Isles Beach in May 2024, down by 35.4% month-over-month. Of the 53 sold homes, 96% were sold under asking, 2% were sold at asking, and 2% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 94 Days | 106 Days | +13.2% |
Summary: Homes in Sunny Isles Beach had an average of 106 days on market in May 2024, up by 13.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
21 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 May 2024, 53 homes were sold in Sunny Isles Beach; 23% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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