The Real Deal Miami

Condo, house sales fall slightly in Miami Beach’s high-end areas: report

May 20, 2013 03:00PM

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Capri in Miami Beach

Miami Beach saw sales of 153 condominiums and 26 single-family homes from February through April, drops of 3.8 and 10.3 percent year-over-year respectively, according to a luxury market report from Douglas Elliman agent Arno De Vos.

One year prior, there were sales of 159 condos and 29 single-family homes over that period in specific high-end sections of Miami Beach.

The median sale price for both single-family homes and condos rose about 36 percent from February through April year-over-year. It grew from $1.975 million to $2.7 million for the former, and grew from $900,000 to $1.225 million for the latter, the report said.

Over that period, the average luxury condo sale price increased 15.9 percent, from $1.42 million to $1.64 million in that span of time. For single-family homes, the average price only grew slightly from 2012, to $3.45 million – a boost of 1.4 percent.

For the 12-month period ending April 30, South of Fifth condos saw ups and downs year-over-year. The number of Apogee sales dropped 57 percent from seven to three while Icon SoBe sales increased 68 percent, from 22 to 37 sales. In South Beach, units sold at Capri and 1500 Ocean jumped 160 percent and 129 percent, respectively. Capri went from 10 sales to 26, and 1500 Ocean from seven to 16, the report said. –Mark Maurer

CORRECTION: A previous version of this article incorrectly implied that the report covered sales city-wide, when in fact it was limited to specific, high-end sections of Miami Beach.

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