Miami-Dade County’s condo market seems to be in a holding pattern that started with a holiday slump at the end of 2015. Last week, sales volume dipped heavily and the county’s 10 priciest deals included condos as inexpensive as a $500,000 unit in Coconut Grove.
The week was led by two $2.4 million sales that tied for most expensive. Unit 3309 at the Trump Palace in Sunny Isles Beach just barely beat out its competitor in terms of price per square foot. Its ocean views and full-height windows fetched $895 per foot after 380 days on the market. Lana Bell of One Sotheby’s International Realty had the listing.
Meanwhile, Daniel Gaviria of Great Properties International sealed her $2.4 million deal for unit #11A at the Casa Del Mar in Key Biscayne. Each of its three bedrooms boasts a walk-in closet, and the master bedroom has a marble-tiled bath with separate shower and bathtub. The sale equated to $769 per square foot after 306 days on the market.
In the No. 3 spot was unit #9Z at the Balmoral in Bal Harbor, which closed at $1.95 million after only spending only 44 days up for sale. Jeremy Milgroom of Real Estate Sales Force had the listing for this newly renovated unit, which featured an all-white color scheme, modern appliances and a wrap-around balcony overlooking the ocean.
After those top three sales, the remaining seven most-expensive units last week ranged in price from $1.815 million to $500,000.
Miami-Dade as a whole saw 85 condo closings last week for a total of $29 million. Compared to the previous week, which saw 129 sales for $52 million, the market’s pace dropped dramatically. Average prices were $349,127 per unit and $276 per square foot.
Trump Palace, Sunny Isles Beach | $2.4M | $895 psf | 380 days on market | Lana Bell of One Sotheby’s International Realty
Center Street Condo, Coconut Grove | $500,000 | $227 psf | 71 days on market | Paige Barnes of Esslinger Wooten Maxwell
Most days on market
Sunset Harbor South, Miami Beach | 401 days on market | $1.815M | $955 psf | Levente Kovary of Douglas Elliman
Least days on market
Waverly South Beach, Miami Beach | 0 days on market | $675,000 | $598 psf | Dario Stoka of Brown Harris Stevens Zilbert