Article Image

Miami real estate news

In the last full week of January, Miami-Dade County's condo market showed a mix of rising sales volume but declining average sale prices and price per square foot. This period, from January 21st to January 27th, saw brokers close 97 condo sales totaling $74.1 million, an increase from the 81 sales totaling $70.6 million in the previous week.

Sales Volume and Pricing Trends

The average sale price for condos last week was $764,239, a decrease from the $871,473 average in the prior week. Similarly, the average price per square foot slightly dipped to $542 from $543. These figures, derived from condo.com data, reflect a market that is active but experiencing adjustments in pricing.

Top Sales of the Week

The highest-priced sale was a penthouse at Aria on the Bay, which closed at $7.5 million. This unit, located at 488 Northeast 15th Street in Miami, was listed by Farrah Zarghami of Parsiani Real Estate and sold by Heather McCabe of Beachfront Realty. It spent 300 days on the market and sold for $1,564 per square foot.

Another notable sale was at Monad Terrace in Miami Beach, where unit 2F at 1300 Monad Terrace closed for $6.5 million, or $2,445 per square foot, after 94 days on the market. Jill Hertzberg of Coldwell Banker Realty had the listing, and Bryan Harr of One Sotheby’s International Realty represented the buyer.

The Extremes of the Market

The least expensive sale in the top 10 was a unit at Capobella, 5025 Collins Avenue in Miami Beach, which sold for $1,475,000 ($793 per square foot) after 301 days on the market. The highest price per square foot was achieved by the aforementioned sale at Monad Terrace.

Conversely, the same Capobella unit also recorded the lowest price per square foot and the most days on the market among the top 10 sales. On the other end of the spectrum, a unit at Casa Del Mar, 881 Ocean Drive in Key Biscayne, sold for $1,680,000 ($896 per square foot) and spent only 6 days on the market, marking the fewest days on market in the top sales.

Market Insights

This week's report illustrates a dynamic condo market in Miami-Dade County, with a healthy number of transactions but fluctuating prices. The diversity in the days on the market and price per square foot among the top sales highlights the varied nature of the condo market in the area.

For those interested in the Miami-Dade condo market, whether buying or selling, understanding these trends is crucial. The market is showing signs of balancing, with opportunities for both buyers and sellers. For more detailed insights or assistance in navigating this market, feel free to reach out. The Miami-Dade condo market continues to be an area of great opportunity and interest.


Text Chris

Latest news and resources

Schedule a call below, talk to us directly about your future home, sale, or investment.

/
Chris
Pessy
, 

<!-- Start of Meetings Embed Script -->
   <div class="meetings-iframe-container" data-src="https://meetings.hubspot.com/christopher-james-pessy?embed=true"></div>
   <script type="text/javascript" src="https://static.hsappstatic.net/MeetingsEmbed/ex/MeetingsEmbedCode.js"></script>
 <!-- End of Meetings Embed Script -->

I’ve always been impressed with Chris’s approach. I've worked with many professionals Internationally in the industry, but Chris truly stands out. His 24/7 unwavering commitment make a stressful day feel like a breeze.
-
Andrea & Veronica Bocelli
,
Chris goes above and beyond for our clients! His dedication to excellence and unwavering commitment to excellence set him apart in the industry. Our shared passions for people and delivering results for clients make collaborating with him fun and successful" —
-
Josh Altman / Million Dollar Listing
,
"As a seasoned real estate investor, I was thoroughly impressed by Chris's unparalleled professionalism and market expertise. Chris navigated the complexities of the transaction process with ease, always providing insightful guidance and an exceptional level of availability.”
-
Miguel Forbes / Forbes Family Trust.
,
“From the moment I engaged with Chris, I knew I was in good hands. His professionalism and ability to “line up all the stars” months in advance of making my offer resulted in my first off-market dream home purchase becoming a reality." —
-
Rob Garza / Founder Thievery Corporation
,
Coming from the world of hospitality, working with Chris has been a pleasure! His big heart, extensive network and deep understanding of the luxury real estate landscape gave the Mina Family access to the right opportunities and people to get the job done”
-
Michael Mina / Founder The Mina Group
,
"Chris is more than just a Real Estate Veteran and Influencer – he's a trusted advisor and friend. His genuine care for his clients and passion for his work shine through in everything he does.”
-
Juan Sanchez / Co-Founder Clase Azul Tequila
,

My mission is to provide an unparalleled level of service and build genuine connections, ensuring every client's real estate journey is seamless, transparent, and rooted in trust.

© 2015
The Chad Carroll Group | Compass Florida's #1 Team
. All Rights Reserved. Sitemap, Privacy Policy and Terms of Use
DRE #
3596049