The temperature in Miami-Dade County might not be getting much cooler this fall, but its condo market felt a serious chill last week. Sales volume fell by roughly $19 million and only two condos managed to break the $1 million price barrier.
At the top of the pile last week was unit LPH4S at Oceana Key Biscayne, a lower penthouse with two bedrooms, two bathrooms and ocean views. Listing agent Blanca Rivero of Cervera Real Estate closed the $3.42 million deal after the unit spent 194 days on the market. Its purchase price breaks down to $2,004 per square foot.
After that deal was the $1.375 million sale of unit 302 at the Kenilworth building in Bal Harbour. The three-bedroom, 2.5-bathroom condo features three balconies, ceramic tile floors and modern style. Inga Boutboul of One Sotheby’s International Realty had it on the market for 608 days before it sold at $550 per square foot.
And the week’s third-priciest deal was unit 925 at the W South Beach, which sold for $830,000, or $1,690 per square foot. The studio-style condo features one full bedroom, ocean views, plush furnishings. It spent only 57 days on the market with One Sotheby’s Boutboul before selling.
Following those top three deals, the remaining units in The Real Deal’s countdown of Miami-Dade’s top 10 most-expensive condo sales ranged from $820,000 to $490,000.
Condo sales volume in Miami-Dade took a deep dive last week, falling from $52.69 million during the previous week to $33.13 million. A total of 116 units were sold, with prices averaging $285,629 per condo and $267 per square foot.
Oceana Key Biscayne #LPH45S, Key Biscayne | 194 days on market | $3.42M | $2,004 psf | Blanca Rivero of Cervera Real Estate
The Cosmopolitan #2318, South Beach | 350 days on market | $490,000 | $593 psf | Andrew Cohen of Bedrock Properties
Most days on market
Kenilworth #302, Bal Harbour | 608 days on market | $1.375M | $550 psf | Inga Boutboul of One Sotheby’s International Realty
Least days on market
W South Beach #925, Miami Beach | 57 days on market | $830,000 | $1,690 psf | Inga Boutboul of One Sotheby’s International Realty