April 23, 2024
Continuum Condo Closing Dominates Miami-Dade Weekly Sales
Miami-Dade County’s condominium market witnessed a surge in sales and dollar volume over the past week, with a notable transaction at Continuum South Beach leading the pack. From April 15th to April 22nd, brokers finalized 160 condo sales totaling $156 million, reflecting a robust market performance.
Key Highlights:
- Increased Sales Volume: Last week’s condo sales marked a significant uptick from the previous period, with a total volume of $156 million compared to $141 million.
- Average Price and Price Per Square Foot: Despite the rise in sales volume, the average price for units sold decreased slightly to $977,219. However, the price per square foot saw an increase, reaching $651.
- Top Sale at Continuum South Beach: Continuum’s South Tower units 1902 and 1903 emerged as the top sale, closing at $10.9 million. This transaction underscores the allure of luxury waterfront properties in Miami Beach.
- Notable Transactions: Ritz-Carlton Residences unit 2905 in Sunny Isles Beach secured the second-highest closing at $6.7 million, reflecting the demand for upscale residences in premier locations.
Top 10 Sales Breakdown:
- Most Expensive: Continuum South Beach, units 1902 and 1903 | Price: $10,850,000 | $4,228 psf | Listing Agents: Eddy Martinez and Roland Ortiz | Buyer’s Agent: Carlo Dipasquale
- Least Expensive: Oceana Bal Harbour, unit 305 | Price: $3,100,000 | $1,819 psf | Listing Agents: Sheila Rojas and Timothy Allen | Buyer’s Agent: Timothy Allen
- Highest Price Per Square Foot: Continuum South Beach, units 1902 & 1903 | Price: $10,850,000 | $4,228 psf | Listing Agents: Eddy Martinez and Roland Ortiz | Buyer’s Agent: Carlo Dipasquale
- Lowest Price Per Square Foot: Bal Harbour Tower, unit 8E | Price: $3,100,000 | $960 psf | Listing Agent: Stuart Drossner | Buyer’s Agent: Stuart Drossner
The recent surge in Miami-Dade’s condominium market, exemplified by notable transactions like the one at Continuum South Beach, reflects ongoing demand for luxury residences in prime coastal areas. With a diverse range of properties available, buyers continue to seek out opportunities in Miami’s vibrant real estate landscape.
Source: Adam Farence from the real deal
