Miami Real Estate Market Update

Miami Real Estate Market Update


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Miami Real Estate Market Update

The Miami-Dade County condo market continued to waver last week, reporting a slight dip in sales volume and number of multimillion-dollar closings.

Last week’s most expensive condo deal was a unit at the Asia condo building on Brickell Key. Unit 1804 sold for $2.55 million to Jorge Lanata, an Argentinian entrepreneur and journalist, after spending 149 days on the market. Its modern features and all-white color scheme fetched a sizable $861 per square foot.

Close behind that sale was the $2.45 million closing for unit 240 in the Aqua at Allison Island complex in Miami Beach. The four-story unit has five bedrooms, five bathrooms, wood floors and modern finishes. It was on the market for 36 days

The week’s third priciest sale fell just below the multimillion-dollar mark: unit 1005 at the Jade Beach tower in Sunny Isles Beach traded for $1.95 million, or $1,011 per square foot, after 99 days on the market,  this turn-key unit, which sold designer furnished. It boasts ocean views, custom lighting, motorized shades and its own camera security system.

After those top three sales, the remaining seven of last week’s 10 most expensive deals ranged from $1.25 million to $738,000.

Miami-Dade saw only 95 condo sales last week for a total of $35.614 million. Those figures dipped considerably from the 133 units that sold the previous week for $41.71 million. Average prices were $374,884 per unit and $274 per square foot.

Here’s a breakdown of the data for the week of January 31 to February 6. Click on the map for more information:

Most expensive

 ASIA, Brickell Key | $2.55M | $861 psf | 149 days on market | Jose Monteiro of Chris Brooks Realty

Least expensive

 Roney Palace, Miami Beach | $738,000 | $768 psf | 197 days on market

Most days on market

 Sands Pointe, Sunny Isles Beach | 240 days on market | $980,000 | $462 psf

Least days on market

 Aqua at Allison Island, Miami Beach | 36 days on market | $2.45M | $458 psf |


Gustavo Blachman Headshot
Author:
Phone: 786-229-8009
Dated: February 9th 2016
Views: 289
About Gustavo: PROFESSIONAL QUALIFICATIONS • Florida Licensed Real Estate Broker – Owner of Terrabella Realt...

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Location & Address

Terrabella Realty
17820 West Dixie Hwy
North Miami Beach, FL
786-801-2691
305-402-0112