All sides of the condo market took a hit last week in Miami-Dade County, according to data from Condo.com
For the county’s most expensive sales, that means even the top closing didn’t break $3 million. Despite this, most of the week’s high-end sales were above $1 million, and half sold in four months or less.
The week’s top sale was unit 1802 at the Setai, which sold for $2.7 million. The condo is on the southwestern corner of the building and has developer finishes: hardwood and stone floors plus modern appliances. It measures 1,331 square feet and has two bedrooms and two bathrooms. While the closing price isn’t anywhere near the highest recorded for that building, it does break down to $2,028 per square foot — which rivals the building’s larger units. Juan Ramirez of La Rosa Realty had the listing, which was active for 127 days before closing.
Following the Setai unit, sales for the week ranged between $1.95 million and $895,000. The week’s longest listing also happened to be the cheapest: Unit 1108 in the Bel Aire on the Ocean condo complex, which is in Miami Beach, was on the market for 241 days before fetching a price of $895,000. Maria Luaices of the Keyes Company had the listing.
Altogether, the county saw a $43.8 million drop in sales volume compared to the previous week. Between Sept. 6 and Sept. 12, a total of 105 condos were sold in Miami-Dade for $41.35 million. Prices averaged $393,846 per unit and $292 per square foot.
The Setai, Miami Beach | $2.7M | $2,028 psf | 127 days on market | Juan Ramirez of La Rosa Realty
Bel Aire on the Ocean, Miami Beach | $895,000 | $815 psf | 241 days on market | Maria Luaices of The Keyes Company
Most days on market
Bel Aire on the Ocean, Miami Beach | 241 days on market | $895,000 | $815 psf | Maria Luaices of The Keyes Company
Least days on market
Four Seasons, Miami | 41 days on market | $1.45M | $837 psf | Carlo Ortiz of Xcellence Realty