Miami’s condo market saw a significant surge in sales activity in March, with total sales value reaching $694 million, a jump from $559 million in February. This growth trend extends to the number of sales closed, with 796 transactions compared to 704 in February.
Key Takeaways:
- Total condo sales value: $694 million (up from $559 million in February)
- Number of condo sales closed: 796 (up from 704 in February)
- Median sale price: $455,000
- Median price per square foot: $460
Price Range:
- March condo sales ranged from a record-breaking $44 million for a unit at Four Seasons Residences at the Surf Club to a more affordable $80,000 for a unit in Star Lakes Estates.
Record-Breaking Sale:
- The priciest condo sale in March was a unit at Four Seasons Residences at the Surf Club, selling for a staggering $44 million and $6,587 per square foot.
Other Interesting Sales:
- The condo market offered a variety of options, with the cheapest sale being a unit in Star Lakes Estates at $80,000 ($60 per square foot).
- The newest building with a sale was Aurora Sunny Isles, with a unit selling for $3.15 million.
- The oldest building with a sale was Mercury South Beach, built in 1921, with a unit selling for $590,000 ($766 psf).
