The first week of 2018 was a painfully slow one for the Miami-Dade condominium market.
Only 55 units sold for a total of $34 million last week, down from the previous week’s $52 million sales volume for about 100 units. Condos last week sold for an average price of about $626,000, or nearly $350 per square foot.
The priciest deal was for unit 701 at the Apogee. The South Beach condo closed for $7.45 million, or nearly $1,800 per square foot. John Lennon of South Pointe Drive Realty represented the seller, and Cristiana Machado at Cervera Real Estate represented the buyer. The four-bedroom, 4,154-square-foot unit was on the market for more than 36 months before it sold.
The second most expensive condo sale was at the St. Regis in Bal Harbour. Unit 1802N, a 3,128-square-foot condo, traded hands for just under $5 million after spending 138 days on the market with Douglas Elliman’s Oren Alexander. Kinga Konsorska of Cervera represented the buyer.
Closing prices in the top 10 deals ranged from $750,000 to $7.5 million.
Here’s a breakdown of the top 10 deals from Dec. 31 to Jan. 6. Click on the map for more information:
Apogee #701, Miami Beach | 437 days on market | $7.45M | $1,800 psf | Listing agent: John Lennon | Buyer’s agent: Cristiana Machado
Costa Bravo #411, Miami Beach | 198 days on market | $750k | $391 psf | Listing agent: Shane Graber | Buyer’s agent: Samuel Soriero
Most days on market
Bal Harbour Tower #PH3H, Bal Harbour | 470 days on market | $3.4M | $683 psf | Listing agent: Agnieska Gray | Buyer’s agent: Chani Lipskar
Fewest days on market
One Tequesta Point #808, Miami | 45 days on market | $785k | $479 psf | Listing agent: James Michael Bryan | Buyer’s agent: Elsie Gattas