The sales pace of new condo transactions in 2011 is continuing with almost 45 new condo transactions per month. With this rate of sales unsold developer units in Sunny Isles Beach would be absorbed by the end of 2012.
Developers created 27 projects with nearly 6,400 units in the Sunny Isles Beach market since 2003. Before the boom, developers built nearly 60 projects with nearly 12,000 units in Sunny Isles Beach
The shrinking inventory of developer units since the real estate boom, Sunny Isles Beach is following the emerging South Florida trend of new condo construction as 13 towers with nearly 3,500 units are being proposed for the South Florida region of Miami-Dade, Broward, and Palm Beach as of Oct. 31, 2011.
The six residential projects as originally proposed will create more than 450 condo units and townhouses in Sunny Isles Beach.
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