Catherine Rodstein Blog   Real Estate Blog

The last week of October showed an uptick in Miami and Miami Beach condo sales and prices following an 8.3% decline from September 2014 to September 2015. Image of Faena House

The decline over the last year is largely due to the Miami new construction condo sales taking a bite out of the existing condominium sales. Despite the slowdown in sales, the median sales price increased 2.8% over the last year. New construction in South Florida reached $7.5 billion in 2015. The number of Miami New Development sales contracts, however, decreased 67% from September 2014 to September 2015.Miami Home sales continue to rise slowly, 2.9% from September 2014 to September 2015, according to the report from the Miami Association of Realtors.

High priced recent Miami condo sales include a unit at the Santa Maria on Brickell that sold for $5.25 million, $1,302/per sq ft. Unit 8D at the exclusive new Faena House in Miami Beach pictured above just sold for $3.4 million, $2,601/per sq ft. Faena House has attracted a number of buyers in the financial world. Ken Griffin paid $60 million for two penthouse units. British billionaire Alan Howard paid $14.5 million for a unit on the 14th floor. Goldman Sachs CEO Lloyed Blankfein bought unit 8A for $9.5 million. The high end Miami Beach condominium Glass just completed South of Fifth have recorded sales at an average of $2700/per sq ft.

 
LEAVE US A COMMENT:
 
Security Code:
Confirm Security Code:
Search in English
Search in Spanish
Search in French
Search in German
Search in Italian
Search in Portuguese
Search in Russian
Chinese
New Developments The Miami Life

Listing with Catherine How is the Market? What's my Home Worth Today?
Miami Waterfront Homes Miami Beach Rentals Penthouses Miami Investment Properties
Resource Center
Updated: Sunday, January 20, 2019

Many Home Builders Make an Exc...
Realtors lose thousands of dollars every day because they donrsquo;t know what to do or say ...

Support Animals for the Disabl...
A Broad DefinitionIn order to qualify to have a support animal, the person requesti...

Copyright ©2019 - Realty Times®
All Rights Reserved.

Hottest Miami Events and Happenings January 2019
Happy New Year! As we welcome high season and sublime South Florida weather, don’t...

The highly anticipated Miami Art Week, Art Basel, and Art Miami is finally here! What to see, where to eat and drink!
As tens of thousands of visitors descend on Miami for the ever expanding Art Basel and...

AS SEASON AND PERFECT MIAMI WEATHER DRAWS NEAR, IS THIS THE OPPORTUNE TIME TO BUY?
You know how you are always wondering when is the right time to buy South Florida Real...