2024 Surfside Condo Market Trends & Forecast Q1-Q3

• Buyers:This is a strong market, but discounts are mainly found in the lower end. As a buyer, be cautious when seeking affordable options or better price-per-square-foot deals—you don’t want to end up with a condo that’s too old or at risk of failing its 25-year assessment. The newer condos, typically priced at $5M or more, are the safer bet. Contact me for details on the ideal price per square foot for each floor plan. With my unique Condo Geeks software, I can help you find the right unit at the right price.
• For sellers The Surfside condo market remains a healthy market, but buyers are no longer willing to overpay. Your listing needs to be priced competitively, or it may stay on the market for a long time. If you own an older condo, now is the best time to sell. Concerns about older buildings are gaining attention, and buyers are steering clear of them. If you’re considering selling in the near future, it’s better to act sooner rather than later and price your property correctly.
• For luxury investors Ultra-high-end condos are in demand as more wealthy families continue to move to Miami. Desired condos for rentals or those that have appreciated most over the years are Four Seasons Surf Club and Fendi Chateau. One new construction condo was recently announced which is the boutique Ocean House Residences.

The best performing condos in this market are Fendi and The Four Seasons Surf Club Residences. It is also in these two condos that we see the record sales such as the previously mentioned sale at $6.500 per SF or unit S-709 for $5,600 per SF. A condo that has not performed as well since it was delivered is Arte. We are bullish on this market as it is truly converting into an ultra-luxury market. Besides Ocean House, DAMAC properties out of Dubai also acquired an oceanfront lot and is planning a brand new ultra-luxury project.