The Real Deal Miami

Prices down on new Sunny Isles condos

May 05, 2010 09:28AM

While discounts helped ignite more than 100 new condo sales in Sunny
Isles Beach in the first quarter of 2010, the average sales price for a
newly-constructed condo in the city has fallen 22 percent in the last
two years, according to a new Condo Vultures white paper. The average
sale price for the first quarter of 2010 was $508 per square foot on
the 103 units that closed. Two years ago, the average sales price was
$652 per square foot. The number went down to $578 per square foot in
the same period in 2009. Sales of new condos in Sunny Isles Beach this
quarter totaled more than $100 million. TRD