Miami-Dade’s condo sales show a summer slump

Top sales ranged from $1.2M to $12.4M

Akoya and Oceana Bal Harbour (Google Maps)
Akoya and Oceana Bal Harbour (Google Maps)

South Florida’s condo market continued its tumultuous tumble in July.
Top condo sales for the month totaled $104.5 million — a sharp decline from June’s $219.1 million, which is a figure that’s $65 million below May’s $284.1 million total.

Multiple Listing Service data from condo.com show July’s sale prices for the top 41 condos ranged from $1.2 million to $12.4 million, compared with June’s range of $1.5 million to $19.2 million.

A $12.4 million sale at Oceana Bal Harbour topped July’s list, where Hizuru Eihara sold unit 1801 at 10201 Collins Avenue to an entity led by Avram Friedman. Mark Zilbert, whose brokerage is named after him, and Lisa Van Wagenen of Brown Harris Stevens, had the listing. Tracy Galya with Douglas Elliman represented the buyer. The price rounds out to $3,100 per square foot.

A $7 million sale of an Asia penthouse in Miami snagged second place. 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 about $1,400 per square foot.

July’s top 41 sales averaged $2.6 million, below June’s average of $4.8 million, which was well below May’s average of $6.3 million.

The average price per square foot came to $1,070 and ranged from $585 to $2,951. In June, the average price per square foot was $1,684, and May’s was $1,907.

Leaflet map created by Adam Farence | Data by © OpenStreetMap, under ODbl.

Here’s a breakdown of the top 41 sales for July:

Most expensive

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Oceana Bal Harbour, 10201 Collins Ave, unit 1801 | 14 days on the market | $12.4M | $3,100 psf | Listing agent: Mark Zilbert with Zilbert and Lisa Van Wagenen of Brown Harris Stevens | Buyer’s agent: Tracy Galya with Douglas Elliman

Least expensive

Oceana IV, 16400 Collins Avenue, unit 2642 | 12 days on the market | $1.2M | $770 psf | Listing agent: Boris Teplitsky with London Foster Realty | Buyer’s agent: Hernan Vergara with Fortune International Realty

Most days on market

Jade Ocean, 17121 Collins Avenue, unit 4005 | 1,453 days on the market | $2.6M | $1,300 psf | Listing agent: Wanda Shortt with Yaffe International Realty | Buyer’s agent: Paula Sanchez with Unique International Properties

Fewest days on market

Akoya, 6365 Collins Avenue, unit 3507 | 1 day on the market | $1.4M | $1,060 psf | Listing agent: Nils Jucaud with Charles Rutenberg Realty | Buyer’s agent: Gustavo Duquesne with Compass Florida
Yacht Harbour, 2901 South Bayshore Drive, unit 13B | 1 day on the market | $2.3M | $1,400 psf | Listing agent: Carole Smith with Compass Florida | Buyer’s agent: Maite Alvarez with Compass Florida