Are Trump's condo building values in South Florida dropping faster than the rest of the market?

Are Trump's condo building values in South Florida dropping faster than the rest of the market?

Oct 18, 2019 October 18, 2019

Since South Florida is home to several Trump condominium properties, many have wondered how the Trump’s performance as President may be affecting real estate sales in those properties. To quell our curiosity, we set out to find out how those properties have fared in the period since Trump was elected President. Using data sourced from MLS 2019/8/14 we evaluated sales in Trump condo properties between January 2017 and August 2019.

Our evaluation focused on properties located in the 33160 Sunny Isles Beach area, and did not include Trump condos in Hollywood (33019) and West Palm Beach (33401). Our analysis was further limited to waterfront properties built between 2003 and 2010 which are the years the Trump properties were all built, so we would have an apples to apples comparison. We focused on 2-3 bedroom properties, as this reflects the majority of properties sold during the period of evaluation. 

How have Condo sales in Trump Properties fared since 2017?

  • Taking into account all closed sales on waterfront properties built between 2003 and 2010, sales of Trump condos increased between 2017 and 2019.

  • Considering closed sales exclusively for YTD July period, sales of 0-4 bed properties in Sunny Isles, Trump Condos increased from 33% in 2017, to 38% in 2018, and to 51% in 2019.

  • The majority of closed sales of Trump properties between 2017 and 2018 occurred during the month of August.

  • From January through July of 2019, closed sales of Trump properties trumped sales of non-Trump properties during 5 out of 7 months.

  • During the period between January 2017  and August 2019, condos in Trump properties sold for more than condos in non-Trump properties.

  • Among 2 and 3 bedroom properties assessed during the comparison period, condos in Trump properties also have a higher median sales price per square foot in comparison to condos in non-Trump properties.

  • During the comparison period between 2017 and July 2019, we noted a downward trajectory for median sales price per square foot  for 2 and 3 bedroom waterfront condo properties built between 2003 and 2010. While this applied to both Trump and non-Trump properties, the Trump properties decreased by 6% over this period, while non-Trump properties decreased by 16%. Assessing the quarterly trajectory, there has been a more gradual decrease in the median sales price per square foot of Trump properties versus non-Trump properties.

  • Trump condo properties currently have a higher supply now than non-Trump condos.

  • So far during 2019, 0-4 bedroom condos in Trump properties have achieved sale prices that are closer to their list price in comparison to similar units in non-Trump properties.

While the number of properties evaluated is small and market variances may affect insights, judging from these comparisons, it appears that Trump’s presidency has had more of a positive than negative impact on sales of condos, as his properties are faring better in the market than non-Trump properties in the same area.

Closed Sales with Build Year 2003-3010 & Waterfront

Closed Sales for YTD July with Build Year 2003-3010 & Waterfront

Median SP/SqFt for 2 & 3 Bed Waterfront Properties Build Year 2003-2010

Months of Inventory in Sunny Isles


If you would like to verify or run your own numbers, we have made the source data available here.

Contact Us
Founder, Condoblackbook.com & Owner/Broker, BlackBook Properties
(305) 697-7667
contact@condoblackbook.com
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

Introducing 501 First: Downtown Miami’s Latest Short-Term Rental Investment Opportunity
Real Estate News Introducing 501 First: Downtown Miami’s Latest Short-Term Rental Investment Opportunity
Miami is in the height of another renaissance, with more than 12 new condo building projects announced in the first six months of 2021 alone. One of these latest Miami new construction condo developments is 501 First in the heart of Downtown Miami.  Why should you know about Miami's 501 First? If you love luxury real estate in a bustling metropolis, then the upcoming 501 First condo development will be worth your attention, especially if you are looking for condo investment opportunities. Miami is one of the world’s most popular destinations, as well as an international travel hub. Condo and real estate investments that allow short-term rentals and Airbnb rentals are extremely popular in a city like Miami.  We have written a lot about Miami condos that allow short-term rentals, and 501 First is one of the latest opportunities, having just launched. In fact, the 40-story tower will have no rental restrictions, allowing for short-term rentals, daily rentals, etc., making it a lucrative...
Coconut Grove Development ‘Markers Grove Isle’ Rebrands as ‘Vita’
Real Estate News Coconut Grove Development ‘Markers Grove Isle’ Rebrands as ‘Vita’
Luxury condo development project Markers Grove Isle rebranded as Vita Residences this June, after lengthy legal issues. The rebrand is a signal the Coconut Grove condo project is moving ahead after years of being stalled, making it one of the most eagerly awaited new Miami condo development projects, and a long-awaited addition to an island where nothing has been built in several decades. Sitting on the 21-acre, private island, Vita represents boutique, luxury waterfront living on Coconut Grove’s Grove Isle – forward-thinking and unlike anything built before it. Developed by Grove Isle Associates, construction on this island property is expected to begin by early 2022. Vita Grove Isle Residences If you know anything about Grove Isle, you may be curious about the design of this mid-rise project and how it will blend with the other three towers on the island. The collection of 5-story buildings will be set hugging the island’s serene eastern shoreline in modern, curvilinear...
The Best Miami Neighborhoods: Key Biscayne vs Fisher Island
Real Estate News The Best Miami Neighborhoods: Key Biscayne vs Fisher Island
Two of Miami’s most private and exclusive neighborhoods are Key Biscayne and Fisher Island. These neighborhoods share a number of similarities, as both are affluent island communities separated from the mainland Miami Metro area. And each island is designed as a private enclave for Miami’s elite. But the two also differ in many ways, due to their locations, local lifestyle, and the communities that inhabit each location.   We’ve broken down details to compare Key Biscayne versus Fisher Island based on factors that can help you choose which of the two would be most suitable for you. Take a look. And don’t miss our other Miami neighborhood comparisons at the bottom of this article.  Lifestyle: Key Biscayne vs Fisher Island Key Biscayne is a comfortable residential neighborhood located on a small island that is connected to Mainland Miami by the Rickenbacker Causeway. Once you cross the causeway into Key Biscayne, you definitely feel the tranquility of being surrounded by water, and...
Miami Building Boom 2021: These are the 12 New Condo Development Projects Planned to Date
Real Estate News Miami Building Boom 2021: These are the 12 New Condo Development Projects Planned to Date
It’s a trend we’ve been talking about since the last quarter of 2020 - waves of buyers are contributing to one of the biggest real estate booms in Miami history. As individuals and businesses escape high tax states like New York and California, and have the freedom to work from any location, luxury condo developers in Miami are announcing new project after new project.   Miami condo developers have announced over a dozen new and relaunched condo projects since the beginning of 2021. In an attempt to appeal to a wide range of new residents, each new project aims to be taller, more luxurious, and offer the most exciting set of amenities imaginable, and could bring more than 10,000 residential units to Miami over the next few years. With the real estate market in Miami in one of its most lucrative cycles yet, here’s a look at the latest condo projects proposed in Miami since January 2021 (till the time of this post): New Miami Condo Development Projects 2021 E11even Hotel and...
Surfside vs Sunny Isles Beach: Which Miami Neighborhood is Better?
Neighborhood Comparisons Surfside vs Sunny Isles Beach: Which Miami Neighborhood is Better?
If you love coastal living with walkable access to Atlantic Ocean beaches, and you want to move to a beachfront address while bypassing the hustle and bustle of South Beach, there are two beachside communities to consider when looking to make your move: Sunny Isles Beach and Surfside.  While these communities are practically next-door neighbors (with ritzy Bal Harbour nestled between them) and they share many amenities, including direct beach access to the Atlantic. Plus, they both are in prime locations that provide quick and easy access to airports, shopping, arts and culture, and outdoor living, living there could not be more different from one another.   As insiders who’ve lived in these popular Miami neighborhoods, we’ve broken down the similarities and differences between these two beautiful seaside communities in case you are looking to move to Miami. Lifestyle: Sunny Isles Beach vs. Surfside While Sunny Isles Beach and Surfside both provide residential coastal living...
Miami Condos with Shabbat Elevators
Real Estate News Miami Condos with Shabbat Elevators
Last updated June 11, 2021. Whether you refer to it as the Sabbath, Shabbat, Shabbos, or by any other term, your religious commitment to observing a holy day of rest should not prevent you from enjoying a luxury condo lifestyle in the subtropical paradise that is Miami.  For this reason, a number of condo communities provide the convenience of a Shabbat or Sabbath elevator, which is a specially programmed elevator that stops automatically on every floor during the Jewish Sabbath, from sundown on Friday evening until sundown on Saturday of every week.  This service is provided in order to accommodate the Jewish religious law that prohibits religious observers from pushing buttons or operating machinery during the Sabbath. While Miami today is known as a particularly Jewish-friendly metropolis, Jews were not even allowed to enter Miami Beach Hotels until the late 1940s. But by the 1950s they began to lay down roots in Miami Beach and to impact the economy, politics, and social flavor...