It seemed like residential agents in Miami-Dade County came out swinging after the slow Thanksgiving weekend, but after one week of raking in huge sales volumes, the county is again reporting a sluggish condo market.
Numbers from last week show a huge reduction in transactions and sales volumes compared to the first week of December, which had already trumped every week in November.
And out of the county’s top 10 most expensive condo sales, only four made it past $1 million. None closed for more than $2 million.
The week was led by a $1.9 million sale at the South Pointe Towers in Miami Beach. Unit 1003, a corner residence with all-white modern finishes, traded for a hefty $1,494 per square foot after spending 109 days on the market. John Lennon of South Pointe Drive Realty had the listing.
Close behind that transaction was a $1.312 million sale at Trump Tower III in Sunny Isles Beach. Teresa Malloggi Palacios of Palacios Realty Corp. had the listing for unit 1707, which closed after 72 days — the week’s fastest deal. Some of the unit’s features include ocean views, a private elevator foyer and white glass floors. Its price equates to $567 per square foot.
The week’s third-priciest sale was a $1.225 million unit at Island House in Key Biscayne. Unit 507, which was recently updated and renovated, has a beach house style with ocean views. It sold for about $928 per square foot after 82 days on the market. Brigitte Nachtigall of Great Properties International had the listing.
After those three, the remaining seven priciest condo sales from last week ranged from $1.067 million to $600,000.
The county had 106 condo sales last week for a total of $29.704 million. Compared to the previous week, that’s a $43.38 million drop in sales volume. Average prices were $282,902 per unit and $262 per square foot.
South Pointe Towers, Miami Beach | $1.9M | $1,494 psf | 109 days on market | John Lennon of South Pointe Drive Realty
Midtown Miami Four, Miami| $600,000 | $475 psf | 200 days on market | Bryan Halda of Gray & Associates Properties
Most days on market
Icon Brickell 1, Miami | 583 days on market | $653,400 | $493 psf | Domenico Albano of A & D Realty Group
Least days on market
Trump Tower III, Sunny Isles Beach | 72 days on market | $1.312M | $567 psf | Teresa Malloggi Palacios of Palacios Realty Corp.