L
ast week, buyers signed contracts for 19 luxury properties in Miami-Dade County, a significant increase in activity at the end of summer. These contracts, worth a combined $116.6 million, included seven condos asking a total of about $46 million and 12 single-family homes asking a total of $70.7 million, according to the Eklund-Gomes report. This report, which tracks homes and condos priced at $4 million and above, is based on new signed contracts recorded in the Multiple Listing Service.
The waterfront property at 695 Solano Prado in Coral Gables was at the top of the report for the period between Aug. 26 and Sept. 1. This five-bedroom, three-bathroom house was built in 1966 on a 0.7-acre lot and is currently on the market for $12.2 million. It is being marketed as either a renovated property or a teardown, and is located within the Old Cutler Bay community. The property is listed with Jack McAlister of One Sotheby’s International Realty.
The most expensive condo contract of the week was for unit 1703 in the north tower at Grove at Grand Bay, located at 2669 South Bayshore Drive in Miami’s Coconut Grove. This six-bedroom, six-bathroom condo is asking $9.5 million, which equates to $1,765 per square foot. It is being marketed by Marcello Agostini of AG Real Estate Advisors. The condo was purchased by a company owned by Jose Ernesto Freitas De Camargo and other members of the same family for $4.1 million in 2016.
The condos included in the report had an average asking price of $6.6 million, or $2,232 per square foot, and had been on the market for an average of 52 days. The single-family homes that went into contract averaged $5.9 million, and had been on the market for an average of 81 days.
In comparison, the previous week saw buyers signing contracts for eight properties in Miami-Dade County, asking a combined $80.5 million. In New York, buyers signed contracts for 17 homes, with a combined asking price of almost $207.5 million. These reports are modeled after Donna Olshan’s report that tracks new deals in Manhattan.
