By Sunny Isles Real Estate Expert on February 13th, 2011
have always been popular with those who want to call Florida home. There are also plenty of condominiums, particularly on the ocean in Fort Lauderdale and Miami Beach that are owned by people who call the area their second home. The inventory for properties at luxury developments such as Jade Ocean, located in Sunny Isle Beach, has been dropping consistently over the past couple of years. As the shocks of 2008 have faded, investors, developers and individuals are all looking to acquire properties in luxury markets and at luxury developments.
The inventory of Miami Beach homes on the market
including luxury and condominium properties, has dropped almost 40 percent in the last two years, according to recent reports. People are buying Miami real estate again, particularly at the high end. Not all of these buyers are bargain shoppers, however. Luxury properties such as those at Jade Ocean Sunny Isles are commanding high prices per square foot, proving that selling real estate has become viable as a way to turn a profit again.
is situated on Collins Avenue in Sunny Isles Beach, Florida. This makes it a good representation of luxury real estate in the area. Collins Avenue is one of the most desirable places for the affluent, packed with high-end shopping, dining and other diversions. Easy access to the Intercostals waterway and to the ocean make this area even more desirable. Some properties listed at Jade Beach Miami sell for in excess of $800 per square foot. There are even some that command more than $900 per square foot. While this may have seemed like the result of huge demand during the boom days of the real estate market, today it’s simply a testament to the fact that people are willing to pay for luxury properties.
Properties such as Jade Beach Sunny Isles
appeal, of course, to a particular clientele. With the least-expensive units at the property hovering around $600,000, this is obviously not the type of development that appeals to first-time homeowners, unless they’ve done very well for themselves. This property needs to be marketed to the right segment of the population, and that means the luxury market. While FSBO—For Sale By Owner—properties might be common sights in the residential neighborhoods of the US, the luxury neighborhoods and the expectations of the market demand that a realtor be used to sell these properties. In South Florida, realtors have been able to unload a lot of the inventory that built up after the real estate market crash of 2008, and that has been good news for property owners and buyers.
is a recently-built property, like many of the condominium properties in Sunny Isles Beach. The real estate boom brought tremendous development in this area and, today, it is home to some of the most upscale properties in the area. Though South Beach real estate is usually recognized as the most affluent of the real estate markets in the area, Sunny Isles Beach real estate has established itself as the place to be, with many celebrities and international business people calling the area home. With the number of properties for sale in southern Florida having diminished by over 40,000 total since 2008, listings are becoming scarcer and more valuable.
offer one-, two- and three-bedroom units available for sale as of the last quarter of 2010. These units ranged in price from $600,000 to over $11 million for the property’s 6-bedroom unit, which was also on the market. These unites have actually gone up in price, on the whole, indicating that the luxury market is not suffering, even in an economy that is generally rated as being very down. These luxury properties, however, are not as ubiquitous on the market as they so recently were. Developers have been snatching them up, as have individual property owners, and the numbers of units available at such luxury establishments as Jade Beach is steadily dropping.
With few listings on the market relative to just a couple of years ago, it may be a good time to list your own condominium. With a good realtor, the market is more favorable than it has been in years and sales are no longer difficult to make happen. In fact, the luxury market seems to have vastly improved over the last couple of years!
For the level of Jade Beach real estate
be sure you engage the services of a suitable realtor. Luxury property is its own market and it takes a realtor who has familiarity with it to make a sale. A good realtor will be able to help you take advantage of the diminishing inventory on the market and the increased enthusiasm in the upscale market. With prices increasing, inventory decreasing and the economy seeming to recover, it’s a good time to consider consulting with a realtor about your property.