Turnberry Ocean Colony, Acqualina and One Bal Harbour Market Profile

Turnberry Ocean Colony North, Turnberry Ocean Colony South,  Acqualina and One Bal Harbour are luxury oceanfront condomimiums in Sunny Isles and Bal Harbour.  All three properties are relatively new.  Following our previous post, we wanted to provide our readers with a market profile for select buildings in the Sunny Isles Bal Harbour area. 

Certain markers of interest, Acqualina has the lowest percentage of units on the market, only 12%. One Bal Harbour had the lowest priced sale at $1.2 million as well as the lowest price per square foot sale of $601 per square foot.  Turnberry Ocean Colony has had 11 closed reported closed sales in the last 6 months One Bal Harbour had 22 closed sales.  When One Bal Harbour units closed there were many investors that put it right back on the market.  

Closed sale data is based on information from the last 6 months.    

South Florida newer condominiums have been averaging around 20% of the building on the market for the past year.  That number hasn’t increased in fact, as I mentioned in a previous post, inventory numbers appear to be on the decline.  

Several large scale investors such as Jorge Perez and others are stepping in to take advantage of current market conditions and attractive prices.  Real estate will have its ups and downs but unlike other investment instruments it is real property !

 

 

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