Miami Dade Luxury Condo Sales Down

Last week luxury condominium sales and dollar volume fell in Miami-Dade County.

By MiamiDiario Editorial Staff

According to The Real Deal site, 80 condominiums were sold for $55.2 million last week in Miami-Dade, while the previous week 167 units were sold for $83.7 million.

The condos that were sold last week averaged about $691,000 or $374 per square foot.
The most expensive sale was the S-1007 unit at the Four Seasons Residences at the Surf Club in Surfside, which sold for $11.5 million, (over $2,700 per square foot). The unit was listed for 185 days.

The second most expensive sale of the week was also at the Surf Club. The S-707 unit sold for $5.9 million (just under $2,600 per square foot), after 55 days on the market.

Strong market

However, according to Forbes, the Miami luxury real estate market has not only resisted the onslaught of the virus but has managed to rebound in an environment that has many sectors in check.

The prestigious magazine lists them as the most sought after by rich and famous real estate projects such as Palazzo della Luna and Palazzo del Sol. While Fisher Island, one of the most exclusive neighborhoods in Miami, has become not only attractive for investment but also the ideal place to live.

Fisher Island has become the destination of the richest people in the United States and the world, thanks to its high capital gain, lower tax burden, and exclusive developments.

Source: CubaEnMiami / Forbes
Translated by: Aleuzenev Nogales
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