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CondoWatch Miami: New Year’s Hangover for Sales

The Miami Dade condo market felt the effects of a New Year’s holiday hangover last week. There were just 55 sales for a total volume of $34,407,218. The average price for a condo was $625,585.78, or $346.08 per square foot.

Miami Beach was the top city, recording a total volume of $14.612 million with just 8 sales. Bal Harbour followed with 3 closings for a total of $9.280 million. Miami had 24 transactions for a total of $6.332 million.

The top condo sale of the week was a luxury unit at Apogee in Miami Beach. This spacious, four -bedroom, 6,595 square foot condo at 800 Pointe Drive sold for an impressive $7,450,000, or $1,129.64 per square foot. This property was sold by John Lennon after lingering on the market for 437 days.

The Miami Dade condo market remains optimistic that, despite a slow start, 2018 will prove to be a stellar year.

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About Author: Condo.com Team