October Report: Miami Condo Sales

Map of the top 10 most expensive sales in Miami, October 2015:

October 2015 Luxury Snapshot: The top 10% of Miami’s Condo Market

# of Condos sold in the top 10%: 119
# Sold over $1M: 60 | Sold over $2M: 23 | Sold over $4M: 8 | Sold over $10M: 0
Price range: $9.2M – $601,400
Average price: 1,609,733
Average price per square foot: $750
Average days on market: 128
List vs. sold price average: -6.69%

October 2015 Snapshot: All Miami Condo Sales

# Condos sold in October 2015: 1,189
Price range: $8.8M – $212K
Per square foot range: $2,158 – $460
# Sold over $1M: 3
Average days on market: 93
List vs. sold price average: -6.20%


Faena House | Miami Beach Luxury Condo


Most expensive Miami condo sold in October:
Faena House #6-B, $9.2M, $2,208.88 /square foot

Ana: The Faena House continues to to lead the market with both very high total prices and prices per square foot. The most expensive residential property of any kind ever sold in Miami was the penthouse at Faena House. It sold for $60M, $10M over asking! We did a blog post on this sale that includes some general details on the building, read it here >


Real Estate Market Health Snapshot: Miami Condo Sales

Everyone has an opinion on the Miami real estate market, and with so much new construction going up and with average prices up to almost pre-crash levels, there is some skepticism as to how strong the Miami market is. The crash is still relatively fresh on peoples’ minds, so some wariness is warranted. A look at three key metrics, charted over a ten year period, should serve to alleviate some concern. The charts below do not indicate extreme market conditions. Average days to sell has held steady since mid 2012. The close price to list price ratio has dipped a bit while sale price averages continues to grow. The charts do not indicate an over saturated market and it does seem that all the new construction has not had a strong adverse affect upon the resale market. There is of course a great deal of new construction still in the works, so it remains to be seen how the market behaves a few years out. But for now, trends do not indicate extreme conditions and the market actually looks rather steady.

Close price versus list price ratio, Miami condos over the past 10 yearsAverage sale price, Miami Condos over the past 10 yearsDays to Sell, Miami condos over the past 10 years


Click on the name of a building to view condos currently for sale.
Table shows the top 10 most expensive condos that sold in Miami during the month of October 2015.

Building Address Sold $ Sold $ /sq ft Bedrooms Square feet Ask vs. Buy Sold date Days on Market
Faena House 3315 Collins Avenue #6-B $9,200,000 $2,209 4 4,165 -5.43% 10/2/2015 605
ICON South Beach 450 Alton Rd #1901-2 $8,400,000 $2,060 3 4,078 -4.76% 10/14/2015 286
Oceana Key Biscayne 360 Ocean Dr #801S $8,000,000 $1,961 4 4,080 -5.63% 10/9/2015 8
Oceana Key Biscayne 350 Ocean Dr. #401N $6,175,000 $1,513 4 4,080 -5.26% 10/21/2015 172
Santa Maria 1643 Brickell Ave #4005 $5,250,000 $1,303 4 4,030 -6.67% 10/20/2015 81
Oceanside Fisher Island 7861 Fisher Island Dr #7861 $5,000,000 $1,592 4 3,140 -15.90% 10/14/2015 418
350 Meridian 350 Meridian Av PH $4,450,000 $1,483 3 3,000 -7.75% 10/2/2015 65
Ocean Two 19111 Collins Av #1108 $4,000,000 $750 5 5,330 -12.13% 10/7/2015 229
Santa Maria 1643 Brickell Av #3904 $3,850,000 $955 4 4,030 -2.60% 10/26/2015 17
Sobe Bay 1577 Bay Rd PH-401 $3,787,000 $743 5 5,100 -5.36% 10/6/2015 216

Trackback from your site.

Leave a Reply