Aurora

What is actually in the building

The county returns 63 folios for 17550 Collins Avenue. 61 are homes. The other two are commercial: a 5,402 sq ft store condominium and one further commercial tract. Both are excluded from everything below.

The homes run from 1,361 sq ft to 3,084 sq ft, median 1,385, and the building clusters tightly at the smaller end — the four most common plans are 1,361, 1,382, 1,384 and 1,385 sq ft, with a second group around 1,675 and 2,100. The bedroom mix is 47 two-bedrooms and 14 three-bedrooms, with no one-bedrooms and no studios.

For 2026 the county assesses the homes between $748,000 and $2,268,000, median $834,581 — a threefold range, which is narrow, and consistent with a building whose homes are mostly the same size.

Why the usual numbers do not work here yet

This building needs a different treatment from the others in this series, and it is worth explaining why rather than quietly publishing figures that do not mean what they appear to mean.

Fifty-nine of the 61 homes — 96.7% of the building — changed hands in 2023 and 2024. Twenty-three in 2023 and thirty-six in 2024. Those are the developer’s sales. What the county record shows for this address is therefore not four years of a market; it is a sell-out, followed by four qualified sales in 2025 and two so far in 2026.

Two of my standard measures break on that, and I would rather name them than let them mislead.

The first is turnover. Sixty-five qualified sales against 61 homes computes to one home in four per year, which would make this the most liquid building I have ever measured by a factor of three. It is nothing of the kind. Every building sells all of itself once; that tells you nothing about how easily you could sell yours. The only honest liquidity figure for this address is the six sales recorded since the sell-out ended, and six is not yet enough to state a rate.

The second is the four-year change. Comparing 2023 to 2026 here means comparing the developer’s early closings to two resales, which is not a like-for-like comparison in any sense. No four-year change is published for this building and it carries a dash in my Miami Condo Index.

What the record does support is one genuinely interesting observation. The developer’s 2023 closings cleared a median $859 per square foot. Its 2024 closings cleared a median $729 — 15.1% lower. And this is not the mix: the median home closing in 2023 measured 1,391 sq ft, and in 2024 it measured 1,383. Effectively the same home, 15% less money per foot, a year apart.

One caveat belongs with that, and it is a real one. The county records the date a deed was recorded, not the date a contract was signed. In a new building, closings in a given year may reflect contracts written considerably earlier and at different points in a sales campaign. So I would not present the 15.1% as evidence that the market fell 15% in 2024; I would present it as evidence that the money changing hands per square foot at this address was materially lower in 2024 than in 2023, which is a fact, and let a buyer weigh what it implies.

The price record

The first two rows are the sell-out. The last two rows are the only genuine resale evidence this building has, and they are the ones a buyer or seller should work from: six sales at a median $830 and $821 per square foot respectively.

Read that way, the picture is steadier than the table first suggests. The resale market has settled at $821 to $830 per square foot — below the developer’s 2023 closings and above its 2024 ones. Across all 65 sales the building cleared a median $741 per square foot, in a band from $614 to $1,378, at a median price of $1,200,000; but that median is dominated by the sell-out and I would not use it for anything.

The record is $3,150,000, paid on 18 March 2024 for the 3,084 sq ft penthouse at $1,021 per square foot. The highest price per square foot is $1,378, paid on 28 December 2023 for a 1,370 sq ft home.

On the resale record, there is not yet much to say and I am not going to invent it. The county shows six resales at this address. None of them lost money, at a median gain of 16.1% over a median hold of 1.5 years. That is an encouraging start and it is six transactions. At the buildings in this series where I have a meaningful sample, sell-out cohorts have shown loss rates from 3.6% to 81.8% — a spread wide enough that six early resales tell you almost nothing about where this one will land. Ask again in three years.

Who this building suits, and who it does not

It suits a buyer who wants a new two-bedroom on Collins Avenue and is comfortable being early. The homes are uniform, the assessed range is narrow, and the first resales have gone well.

It suits a buyer who can negotiate on the 2024 evidence. The developer closed 36 homes that year at a median $729 per square foot, and that number is on the public record whether or not it appears in any marketing.

It suits badly anyone who needs to know what the building does in a downturn, or how it trades in a normal year. There is no such evidence yet. Six post-sell-out sales is not a market.

It suits badly a buyer looking for a large home — there is one home above 2,600 sq ft — or for a one-bedroom, of which there are none.

If you are selling here, you are among the first and the arithmetic is unusually visible to your buyer. The developer’s 2024 closings at $729 per square foot are public, so an aggressive buyer will start there. Your answer is the four 2025 and two 2026 resales at a median $830 and $821 — and the fact that all six resales in this building so far have been at a gain. Beyond that, price your own floor and exposure honestly: on a building this uniform, that is the only real variable left.

Interested in selling at Aurora?

Learn more about selling your condo at Aurora Sunny Isles Beach with Josh Stein.

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