realestate

Miami Condo Sales Plummet to $438 Million in September

Miami-Dade Condo Sales Decline for Second Straight Month, Totaling $438 Million in September.

M
iami-Dade County's condo sales continued to decline in September, with a total of $438 million in sales volume. This represents a decrease from August's $470 million and July's $780 million peak. Brokers closed 626 sales last month, down from 712 in August and 810 in July.

    The median sale price was $380,000, while the price per square foot ranged from $94 to $4,251, with a median of $401. This is lower than the median price per square foot in August ($388). Condo sales have been steadily declining since May, when they reached 989 units and $780 million.

    The priciest sale was unit 1002S at Oceana Key Biscayne, which sold for $8.4 million after 206 days on the market. The cheapest sale was unit C210 at Ola in Miami, closing at $86,000.

    Notable sales include:

    * Most Expensive: Oceana Key Biscayne, unit 1002S, priced at $8.4 million and selling for $2,504 per square foot.

    * Least Expensive: Ola, unit C210, priced at $86,000 and selling for $116 per square foot.

    * Highest Price Per Square Foot: Surf Club, unit N-713, priced at $7.75 million and selling for $4,251 per square foot.

    * Lowest Price Per Square Foot: Blue A Resort, unit 512, priced at $195,000 and selling for $94 per square foot.

    Other notable sales include Mr. C Residences, a new development in Miami, and Palm Garden, a historic building in Miami Beach.

Miami condo sales decline sharply to $438 million in September market report.