The condo market held steady for the second week of August, with overall sales and prices in Miami-Dade County wavering only slightly, compared to the previous week.
Among the week’s most expensive condo sales, six of the top 10 were for more than $1 million. Prices per square foot varied wildly from as low as $361, all the way up to $2,100.
At the top of the priciest list was a $5 million sale in the Santa Maria condo tower in Brickell. Unit 2702, the week’s most expensive and longest-lingering residence, was closed by listing agent Magin Hernandez of Magin New World Realty after just under two years on the market. The unit is two stories, has wood floors throughout, a foyer that leads to the private elevator and a large 1,700-square-foot balcony that overlooks Biscayne Bay. The price breaks down to $872 per square foot.
Closing prices dropped by nearly half after Hernandez’s sale. The next most expensive unit for the week was a $2.6 million residence at the Setai on Miami Beach. This corner unit on the 19th floor, with modern finishes and ocean views, sold after sitting on the market for 131 days. Pier Visconti of ONE Sotheby’s International Realty had the listing. The sale equates to a whopping $2,170 per square foot, but that price isn’t unusual for the Setai.
After those two units, prices ranged between $1.95 million and $800,000. The week’s least expensive unit was a third-floor condo at the Artecity North Tower on Miami Beach. Listing agent Claudia Dunin-Borkowsky of Cervera Real Estate closed on the sale after 59 days, marking the week’s shortest sale. The unit measures 1,234 square feet and sold for $648 per square foot.
A total of 148 condos were sold last week for $51 million. The previous week saw 45 more condos sold for an extra $4 million, though this week’s average price per unit was roughly $70,000 higher. The week’s averages were $350,135 per unit and $271 per square foot.
Santa Maria, Miami | $5M | $872 psf | 708 days on market | Magin Hernandez of Magin New World Realty
Artecity North Tower, Miami Beach | $800,000 | $648 psf | 59 days | Claudia Dunin-Borkowsky of Cervera Real Estate
Most days on market
Santa Maria, Miami | 708 days on market | $5M | $872 psf | Magin Hernandez of Magin New World Realty
Least days on market
Artecity North Tower, Miami Beach | 59 days | $800,000 | $648 psf | Claudia Dunin-Borkowsky of Cervera Real Estate