Miami-Dade County’s condo sales volume and average price fell significantly in the second week of November.
Sales totaled $57.2 million, nearly half of the $107.4 million in sales from the prior week. The average sale price dropped to $556,000 from $650,000 the week earlier.
Prices for the top 10 sales ranged from $1 million to $5 million, compared with $1.7 million to $11 million the previous week.
The fall in prices continues a broader trend from October, where metrics for luxury condo sales showed a downturn in the market.
Ritz-Carlton Residences, Miami Beach took the top spot last week. Unit 221 at 4701 North Meridian Avenue pulled in $5 million. Juan Carlos Pagan with HAUS Realty had the listing.
Palau Sunset Harbour, also in Miami Beach, took second place with a $2.6 million sale. Mendel Fellig with Compass Florida represented the seller for unit 302 at 1201 20th Street, and John Sandberg with Douglas Elliman worked with the buyer.
Here’s a breakdown of the top 10 sales from Nov. 6th to Nov. 12th:
Most expensive
Ritz-Carlton Residences, 4701 North Meridian Avenue, unit 221 | 942 days on the market | $5M | $1,531 psf | Listing agent: Juan Carlos Pagan with HAUS Realty
Least expensive
Club at Brickell Bay, 1200 Brickell Bay Drive, unit 3901 | 36 days on the market | $1M | $904 psf | Listing agent: Jessica Bechard with Homeland Capital Realty | Buyer’s agent: Yesenia Garcia with Homeland Capital Realty
Most days on market
Ritz-Carlton Residences, 4701 North Meridian Avenue, unit 221 | 942 days on the market | $5M | $1,531 psf | Listing agent: Juan Carlos Pagan with HAUS Realty
Fewest days on market
SLS Lux Brickell Residences | 8 days on the market | $1.4M | $868 psf | Listing agent: Karen Vieira Ferreira with Miami Realty Solution Group | Buyer’s agent: Mariela Feo La Cruz with Realty One Group Evolution.
(Condo.com)