One condo sale in Miami-Dade last week defied the market’s summer slump.
All but one of last week’s top 11 condo sales ranged from $1.2 million to $2.7 million. The top sale, an Asia penthouse on Brickell Key in Miami, towered over the rest at $7 million, despite a broader market slowdown.
Dollar volume last week totaled $70 million, lower than the $99 million from the week before. Sales reached 135, compared with 153 the previous week.
https://therealdeal.com/miami/2022/07/19/oceana-bal-harbour-closing-tops-miami-dades-weekly-condo-sales/
Condos sold for an average price of about $515,000, down from $645,000 the week prior.
MLS data from condo.com suggests that the Miami-Dade condo market has entered a summer slump. Top condo sales for June totaled $219.1 million, less than May’s total of $284.1 million and April’s total of $250.4 million.
The top sale last week was the $7 million closing at Asia on Brickell Key. Jordan Lederman with Fortune International Realty had the listing for penthouse unit 3401 at 900 Brickell Key Boulevard. Jorge Rico and Andrea Viana with Compass Florida represented the buyer. The sale breaks down to $1,413 per square foot.
Lederman said the sale was the highest recorded for Brickell Key so far this year.
The second most expensive sale occurred at Milano at Deering Bay in Coral Gables. Unit PH1202 at 13621 Deering Bay Drive sold for $2.7 million, or $651 per square foot. Istvan Zolcsak with One Sotheby’s International Realty had the listing. Maria Claudia Fernandez, also with One Sotheby’s International Realty, represented the buyer.
Here’s a breakdown of the top 11 sales from July 10th to July 16th:
(Condos.com)
Most expensive
Asia, 900 Brickell Key Boulevard, unit 3401 | 673 days on the market | $7M | $1,413 psf | Listing agent: Jordan Lederman with Fortune International Realty | Buyer’s agent: Jorge Rico and Andrea Viana with Compass Florida
Least expensive
Oceana IV, 16400 Collins Avenue, unit 2642 | 12 days on the market | $1.8M | $768 psf | Listing agent: Boris Teplitsky with London Foster Realty | Buyer’s agent: Hernan Vergara with Fortune International Realty
Most days on market
Milano at Deering Bay, 13621 Deering Bay Drive, unit PH1202 | 812 days on the market | $2.7M | $652 psf | Listing agent: Istvan Zolcsak with One Sotheby’s International Realty | Buyer’s agent: Maria Claudia Fernandez with One Sotheby’s International Realty
Fewest days on market
Villa Harbor, 166 Harbor Drive, unit 7C | 3 days on the market | $2.1M | $1,491 psf | Listing
agent: Shane Graber with Graber Realty Group | Buyer’s agent: Shane Graber with Graber Realty Group