The end of July brought some much-needed relief to Miami-Dade County’s condo market, which seemed to be stuck in a slump for most of the month. Even so, only one unit broke the $2 million price barrier, with only three more deals above $1 million.
Last week’s top deals were led by an oceanfront unit at the Trump Tower II in Sunny Isles Beach. With three bedrooms, three bathrooms and a massive 3,000-square-foot balcony, unit 601 fetched $2.15 million, or about $776 per square foot. Carolina Lopez of Turnberry International Realty had the contemporary-styled unit on the market for only 83 days before closing. Robert Tercero of Douglas Elliman’s Santidrian Real Estate Team brought the buyer.
Following that sale was unit 433/437 at the Tidemark condo complex in Key Biscayne, which traded for $1.75 million. Douglas Kinsley of Fortune International Realty had the listing for this four-bedroom, four-bathroom condo, which features ocean views and three covered parking spaces. The deal, which closed after 418 days, breaks down to $1,135 per square foot — the highest per-square-foot price hit last week.
And the third-priciest deal was for unit 2117 at the Mutiny Park building in Coconut Grove. After listing the unit for a whopping 965 days, Julianne Cooper of Esslinger Wooten Maxwell closed the sale at $1.25 million. The three-bedroom, four-bathroom unit’s purchase price equates to $645 per square foot.
Following those top three deals, the remaining seven of last week’s priciest deals ranged from $1.1 million to $660,000.
After a three-week slugfest, Miami-Dade’s condo market rebounded last week with 148 sales and $43.8 million transaction volume. The previous week saw a volume of 112 sales and $33.19 million. Average prices were $295,950 per unit and $245 per square foot.
Trump Tower II #601, Sunny Isles Beach | $2.15M | $776 psf | 83 days on market | Carolina Lopez of Turnberry International Realty
Paramount Bay #2609, Edgewater | $660,000 | $585 psf | 73 days on market | Mark Zilbert of Brown Harris Stevens Zilbert
Most days on market
Mutiny Park #2117, Coconut Grove | 961 days on market | $1.25M | $645 psf | Julianne Cooper of Esslinger Wooten Maxwell
Least days on market
Villas at Santander #B, Coral Gables | 63 days on market | $675,000 | $311 psf | A. Alina Gonzalez of Esslinger Wooten Maxwell