Sales volume in the Miami-Dade County condo market took a $20 million nosedive during the first week of November, and even the week’s top 10 most expensive condo units were affected.
Only three of the county’s priciest sales last week fetched more than $2 million. The top sale was a $3.5 million penthouse at the Majestic Tower in Bal Harbour. Unit No. PH205, which spent 366 days on the market with Giorgio Vecchi of Brown Harris Stevens | Zilbert, closed for roughly $1,129 per square foot. The all-white unit is decked out with porcelain flooring, mosaic bathrooms and Rimadesio doors.
The second-most expensive sale was also a Vecchi listing: unit 1504 at the Continuum North Tower in South Beach sold for $2.95 million, or $2,044 per square foot, after being listed for 274 days. The residence has a sedated gray-and-wood color scheme with custom-made furniture and modern appliances.
Finally, unit 903 at South Beach’s ICON condo tower traded for $2.15 million after 302 days on the market. Linette Guerra of La Playa Properties had the listing, which traded for just under $1,000 per square foot. It features limestone floors in the bathrooms, views of Biscayne Bay and a 358-square-foot balcony.
After the top three sales, last week’s most expensive closings ranged between $1.25 million and $710,000. This is following October’s strong showing for its final week, where total sales were up across the county and the most expensive units were all above $1 million.
Miami-Dade saw 138 condo sales last week for a total of $43.704 million. That’s a strong decrease from the previous week, which had 50 more sales for an extra $20 million. Average prices were $323,734 per unit and $278 per square foot.
Majestic Tower, Bal Harbour | $3.5M | $1,129 psf | 366 days on market | Giorgio Vecchi of Brown Harris Stevens | Zilbert
Ocean Lane Plaza, Key Biscayne | $710,000 | $531 psf | 172 days on market | Adolfo Malave of EWM Key Biscayne
Most days on market
Champlain Towers North, Surfside | 429 days on market | $1.15M | $485 psf | Edward Rosengarten of Yaffe International Realty
Least days on market
Fontainebleau Ill Sorrento, Miami Beach | 64 days on market | $750,000 | $1,378 psf | Michele Redlich of Coldwell Banker