The market giveth, and the market taketh away. After a relatively steady August, Miami-Dade County’s condo market fell into a deep slump last week, with sales volume halved from the week before and only four condos breaking the $1 million price barrier.
Topping the list of priciest condo deals last week was a waterfront unit at the Bella Mare in Aventura, which traded for $2.5 million. Unit, which has 2301 has five bedrooms and five-and-a-half bathrooms, sat on the market for only 76 days before closing. According to its listing with Berkshire Hathaway’s Denise Rubin, the previous owners sank $1 million into upgrades including marble floors, integrated sound system, gas kitchen appliances and motorized window shades. Its purchase price breaks down to $608 per square foot.
Not far behind was the $2.275 million sale of unit 1802 at Miami Beach’s Carillon building, which closed after the unit first hit the market 408 days ago. The modern-style condo features three bedrooms, three bathrooms ocean views and all-white decor. Lilian Carrion of Charles Rutenberg Realty had the listing, which closed at $1,109 per square foot.
Following that deal was a downtown Miami condo at the Epic West that sold for $1.1 million, or $757 per square foot, after 71 days on the market — the fastest sale among last week’s top 10 closings. The loft-style unit has two bedrooms, two and a half bathrooms, views of the Miami river through floor-to-ceiling windows and modern style. Suzanne Oostdyk of Fortune International Realty was the listing agent.
After those top three deals, the remaining seven of Miami-Dade’s most-expensive deals ranged from $1.014 million to $405,000.
Miami-Dade’s sales volume took a heavy hit last week, with only 75 units trading for a total of $24.4 million. For comparison, the previous week saw 195 units sell for $55 million. Average prices were $325,362 per unit and $266 per square foot.
Bella Mare #2301, Aventura | $2.5M | $608 psf | 76 days on market | Denise Rubin of Berkshire Hathaway Home Services
Artech #408, Aventura | $405,000 | $333 psf | 98 days on market | Adrian Flores of Ayannes Realty Corp.
Most days on market
Carillon #1802, Miami Beach | 408 days on market | $2.275M | $1,109 psf | Lilian Carrion of Charles Rutenberg Realty
Least days on market
Epic West #908, Downtown Miami | 71 days on market | $1.1M | $757 psf | Suzanne Oostdyk of Fortune International Realty