Price Cuts Steer Miami-Dade Signed Contracts Christmas Week

Most of South Florida’s luxury buyers went into holiday hibernation last week, but homebuying transactions trickled through.

Buyers signed eight contracts in Miami-Dade County between Dec. 22 and Dec. 28, according to the latest report from Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week totaled $54.4 million in asking dollar volume and averaged 118 days on the market.

The previous week, buyers signed 19 contracts totaling $305 million in asking dollar volume, led by a pending deal for a waterfront Coconut Grove estate asking $115 million.

The report tracks signed contracts for single-family homes and condos included on the Multiple Listing Service asking $4 million or more in Miami-Dade County. It identified 19 new listings, and a total of 1,315 active listings on the market.

Five of the properties that went pending last week were single-family homes, and three were condos. The average asking price for the condos is $6.3 million, or $2,318 per square foot. They spent an average of 72 days on the market.

The average asking price for the single-family homes is $7.1 million, or $1,762 per square foot, and they spent an average of 145 days on the market.

The most expensive listing to find a buyer last week was the 3,900-square-foot house at 2830 Lucerne Avenue in Miami Beach asking $9 million. Records show the seller is Daniel R. Morel, who bought the Sunset Island I home for $4.7 million in 2015. Built in 1936 on 0.3 acres, the house has four bedrooms, four bathrooms, one half-bathroom and a pool, according to property records.

It hit the market asking $9.9 million in February, and Nancy Batchelor and Carolyn Batchelor with Compass had the listing.

The next priciest home to go pending was the 4,700-square-foot home at 3470 Poinciana Avenue in Coconut Grove asking $8 million. Records show the sellers are Brian Lippey and Jacqueline MacLeod, who bought the house for $3.8 million in 2020. It was built that year on a quarter acre, and includes five bedrooms, six bathrooms, one half-bathroom

Lippey and MacLeod first listed it last year for $8.8 million, and Riley Smith and Brian Sehmann with Compass had the listing.