The second week of July was rough for condo sales in Miami-Dade County. Volume and prices were down across the board, and even the county’s priciest sales were mostly below $1 million, according to data from condo.com.
At the top of last week’s list was the $2.5 million sale of unit 2003 at the Bellini Complex in Bal Harbour. The unit had been on the market for a little over a year, and traded for $860 per square foot. Susan Lederman of ICS Realty had the listing.
Close behind Lederman’s sale was the $2.385 million closing of unit 206 at the Club Tower One in Key Biscayne. Andrew Stearns of Astrial Realty was the listing agent for that sale, which equated to $854 per square foot. The unit had been on the market for about five months.
And the week’s final sale above $1 million was Eloy Carmenate’s $1.47 million listing on Miami Beach. Unit 1402 in the Carillon South Tower spent only 46 days on the market before selling for $1,059 per square foot. Carmenate is an agent with One Sotheby’s International Realty.
After that, sales prices dipped down to $710,000 — the lowest price to make this list in months.
There was an anomaly in this weeks data: A unit in La Perla on Sunny Isles Beach apparently sold the same day it was listed. Unit 2304 had been listed July 17 for $989,000, and was sold the same day for $938,500. Justin Rubin of Douglas Elliman had the listing. Rubin told The Real Deal that it was an off-market deal, and that he identified a buyer the same afternoon the listing went active.
The county saw 144 condos sales last week for a total of $43 million. That’s 40 condos fewer and $17 million less than the previous week. Prices were also down: the average price per unit was $299,836 — a decrease of about $30,000. Conversely, the week’s average price per square foot was up $2, standing at $244.
Bellini, Bal Harbour | $2.512M | $860 psf | 405 days on market | Susan Lederman of ICS Realty
Botanica, Key Biscayne | $710,000 | $412 psf | 446 days on market | Cristian Black of Fortune International Realty
Most days on market
Botanica, Key Biscayne | 446 days on market | $710,000 | $412 psf | Cristian Black of Fortune International Realty
Least days on market
La Perla, Sunny Isles Beach| 1 day on market | $938,500 | $547 psf | Justin Rubin of Douglas Elliman