Sunny Isles Beach Condo Market Sputters As Resale Supply Swells To 21 Months

Sunny Isles Beach condo sellers are struggling to find buyers at the halfway point of the 2024-25 Winter Buying Season that stretches from November through April.

Sunny Isles Beach has nearly 21 months of condo supply listed for resale at the peak of the 2024-25 South Florida Winter Buying Season. Equilibrium is considered to be six months of supply. More months of supply suggests a buyers market and less months a sellers market. (Photo courtesy of Google Maps)

The Sunny Isles Beach condo market is struggling amidst an oversupply of resale listings at the halfway point of the 2024-25 South Florida Winter Buying Season.

It is unclear at this point how the start of the 2025 Florida Condo Association Financial Cliff is impacting the City of Sunny Isles Beach market, which is defined as the Town of Golden Beach south to Haulover Park, and the Atlantic Ocean west to Biscayne Bay and/or the Intracoastal Waterway.

Adding to the uncertainty is a recent University of Miami study that identified more than 30 oceanfront condo towers - many of which are located in Sunny Isles Beach - that are reportedly “sinking” at “unexpected rates,” according to a recent Miami Herald report.

In anticipation of this pivotal year for Florida condos following new laws implemented in the wake of the Surfside tragedy, we dug into the current listings and the final 2024 condo statistics to evaluate how the Sunny Isles Beach market is performing.

The metrics are not encouraging.

We discovered that the Sunny Isles Beach condo market - which was a sellers market in 2021, 2022 and less so in 2023 - is firmly in a buyers market, according to statistics compiled by the buyside brokerage CondoVulturesRealty.com.