Miami condo sales volume in free fall last week of May

Condos are trading for much lower prices in Miami-Dade County, as weekly sales volume continues to plummet due to the pandemic.

A total of 56 condos sold for $16.6 million last week. That’s compared to 51 units that sold for $18 million the previous week. Condos last week sold for an average price of about $296,000 or $250 per square foot.

The top sale was at Ocean One in Sunny Isles Beach. Unit 2905, a three-bedroom, 2,085-square-foot condo, sold for $1.4 million, or $671 per square foot. Linda Levy represented the buyer and seller. It was listed for 136 days.

The second most expensive sale of the week was on Belle Isle in the Venetian Islands. Nine Island Avenue unit 1507 sold for $1.35 million, or $759 per square foot. It was on the market for 26 days. Frank Cavallino represented the seller, and the buyer’s agent was Rey Figueroa.

Here’s a breakdown of the top 10 sales from May 24 to May 30. Click on the map for more information:

Most expensive
Ocean One Condo #2905 | 136 days on market | $1.4M | $671 psf | Listing agent: Linda Levy | Buyer’s agent: Linda Levy

Least expensive
Latitude on the River #801 | 235 days on market | $425K | $315 psf | Listing agent: Valka Rodriguez | Buyer’s agent: Valka Rodriguez

Most days on market
The Point #3202 | 408 days on market | $534K | $286 psf | Listing agent: Cristina Giral | Buyer’s agent: Sabina Potack

Fewest days on market
Nine Island Avenue #1507 | 26 days on market | $1.35M | $759 psf | Listing agent: Frank Cavallino | Buyer’s agent: Rey Figueroa

The post Miami condo sales volume in free fall last week of May appeared first on The Real Deal Miami.

from The Real Deal Miami & Miami Florida Real Estate & Housing News | & Curbed Miami - All https://therealdeal.com/miami/2020/06/02/miami-condo-sales-volume-in-free-fall-last-week-of-may/
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