The Thanksgiving holiday had a definite impact on the region’s condo market. Turkey-day slowed sales as last week saw 89 closings for a total volume of $25.146 million. The average sale price of a condo was $282,546.11, or $229.86 per square foot.
Miami was the top city with 41 transactions for a total of $9.361 million. Miami Beach had 8 closings totaling $3.389 million. Key Biscayne’s 3 sales last week totaled $3.325 million.
The top sale of the week was a unit at Casa Del Mar, which sold for $1,720,000. Located at 881 Ocean Drive in Key Biscayne, this 3,120 square foot luxury property closed for $551.28 per square foot. The condo was sold by Allison Blumenthal after being on the market for 125 days.
As we head into the December holiday season, the outlook for the Miami Dade condo market remains bright.