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Record Low: Miami-Dade County Condo Sales Decline in October, Marking Lowest Monthly Figures of the Year

In October, condominium sales totaled $481 million, a decrease from $548 million in September and $700 million in August, according to MLS data from Redfin. Brokers closed 772 sales last month, compared to 809 in September and 934 in August.

The October sale prices ranged from $67,000 to $14.2 million, with a median sale price of $386,250. The price per square foot ranged between $87 to $3,482, with a median of $391 per square foot.

Sal Lupoli, a pizza mogul and Massachusetts commercial real estate developer, along with his wife Kathleen, purchased the most expensive condo in Miami-Dade County’s market last month. They paid $14.2 million for Fisher Island unit 5373 at 5373 Fisher Island Drive. The sale, represented by Jorge Escasena with Luxury Living Realty, closed after 468 days on the market at $2,453 per square foot.

The sale price is lower than September’s top sale, which was Continuum South Beach unit 3303 at 100 South Pointe Drive in Miami, closing at $15.5 million.

On the other end of the spectrum, the lowest-priced sale last month was at Zurich Condo. Unit 306 at 13480 Northeast Sixth Avenue in North Miami closed at $67,000 — or $87 per square foot — after 100 days on the market. Joel McClintock with eXp Realty handled both sides of the deal.

Here’s a breakdown of October’s notable condo sales:

Most Expensive:

  • Fisher Island, 5373 Fisher Island Drive, unit 5373 in Miami Beach
    • Price: $14,200,000
    • Price per square foot: $2,453
    • Year built: 1991
    • Listing agent: Jorge Escasena with Luxury Living Realty
    • Buyer’s agents: Lourdes Alatriste and Laura Castillo with Douglas Elliman

Least Expensive:

  • Zurich Condo, 13480 Northeast Sixth Avenue, unit 306 North Miami
    • Price: $67,000
    • Price per square foot: $92
    • Year built: 1974
    • Listing agent: Joel McClintock with eXp Realty
    • Buyer’s agent: Joel McClintock with eXp Realty

Highest Price Per Square Foot:

  • Continuum on South Beach, 50 South Pointe Drive, unit 2501 in Miami Beach
    • Price: $10,000,000
    • Price per square foot: $3,482
    • Year built: 2008
    • Listing agents: Tracy Galya and Raymond Jacomo with Douglas Elliman
    • Buyer’s agent: Mark Gojanovic with One Sotheby’s International Realty

Lowest Price Per Square Foot:

  • Zurich Condo, 13480 Northeast Sixth Avenue, unit 112 in North Miami
    • Price: $79,000
    • Price per square foot: $87
    • Year built: 1974
    • Listing agent: Selma Zollman with Rise Up Real Estate
    • Buyer’s agent: Eliyahou Rouimi with United Realty Group

Oldest:

  • The Sheridan, 737 Jefferson Avenue, unit 201 in Miami Beach
    • Price: $525,000
    • Price per square foot: $445
    • Year built: 1925
    • Listing agent: Joseph Azar with Douglas Elliman
    • Buyer’s agent: Jai Magner Koch with Coldwell Banker Realty

Newest:

  • South Bay Estates, 2629 Southwest 31st Court in Miami
    • Price: $1,360,000
    • Price per square foot: $575
    • Year built: 2023
    • Listing agent: Sandra Lopez Benkahla with The 305 Agency Miami
    • Buyer’s agent: Sandra Lopez Benkahla with The 305 Agency Miami

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