Signed contracts for luxury properties rose last week, as buyers inked deals for less expensive homes than in prior weeks.
Buyers signed 18 contracts between March 17 and March 23, according to the Eklund-Gomes report, which tracks listings of homes and condos asking $4 million and up in Miami-Dade County that are included in the Multiple Listing Service.
The properties spent about 96 days on the market, on average.
Fifty-two luxury listings were added to the market, for a total of 1,362 listings.
The asking dollar volume for the 13 single-family homes and five condos under contract totals $107.6 million, according to the report, which is authored by the Douglas Elliman team led by Fredrik Eklund and John Gomes.
The single-family homes that entered into contract last week had an average asking price of $5.8 million and spent an average of 94 days on the market. They totaled $75.1 million in asking dollar volume. The average asking price the previous week was $7.4 million.
The non-waterfront home at 10040 East Broadview Drive in Bay Harbor Islands led the report. The spec home, asking $9.9 million, is listed with Joel Lusky and Zalmy Shapiro of The Brokerage South Florida. The six-bedroom, seven-and-a-half-bathroom house spans nearly 6,700 square feet on a quarter-acre lot. Property records show a company led by Eitan Zimerman, co-founder and chief investment officer at Miami-based Act Bold Media Group, owns the home.
The condos that secured buyers last week had an average asking price of $6.5 million and spent 102 days on the market, on average. They totaled $32.5 million in asking dollar volume, or $2,037 per square foot.
At the top, unit 2102 at Estates at Acqualina in Sunny Isles Beach is now in contract. The 3,287-square-foot, four-bedroom and five-bathroom condo is on the market for $8.3 million with Maxwell E Realty’s Ryan Mendell. Records show Dr. Moises Salama, owner of Elite Plastic Surgery, owns the condo at 17901 Collins Avenue.
The previous week, buyers signed contracts for 11 properties in Miami-Dade, asking a combined $83.3 million.
Last week in New York, buyers signed contracts for 31 homes, according to the latest Olshan report. Their combined asking price was $266.6 million, and the typical home spent 972 days on the market.
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Residential
South Florida
Luxury homes spend more time on the market in Miami-Dade, as signed contracts fall