Miami-Dade's condo sales and dollar volume surged in October, led by a $33 million closing, heralding the start of South Florida's busy season.
October sales totaled $504 million, rising from $438 million in September. Brokers closed 681 sales last month, up from 626 sales in September and 712 in August, Multiple Listing Service data from Redfin show.
October sale prices ranged from $77,000 to $33 million, with a median sale price of $390,000. The price per square foot ranged from $72 to $4,964, with a median of $395 per square foot.
In September, sales closed with a median price of $380,000, and $401 per square foot.
Unit PH56 at Echo Brickell, at 1451 Brickell Avenue, closed for the highest amount in October, at $33 million after 272 days on the market. Robert Duggan, billionaire CEO of Summit Pharmaceuticals, and his partner and co-CEO, Dr. Mahkam Zanganeh, bought the unit from Greg Kiley, chairman and CEO of Ohio-based Velocity. The sale came to $2,982 per square foot.
Chad Carroll and Matthew Dugow with Compass Florida had the listing. Stephan Hermida with Engel & Völkers Miami represented the buyer.
The sale price was more than September's priciest sale. Unit 1002S at Oceana Key Biscayne, at 360 Ocean Drive in Key Biscayne, sold for $8.4 million.
In contrast, Unit A4Q at Naranja Lakes in Homestead, at 14830 Naranja Lakes Boulevard, sold for $77,000 -- or $72 per square foot. It was the cheapest sale in October. Marlon Cadenas with Grand Beach Realty handled both sides of the deal. The sale closed after 84 days on the market.
Here's a breakdown of October's notable condo sales:
Most Expensive
Echo Brickell, 1451 Brickell Avenue, unit PH56, in Miami | Price $33,000,000 | $2,982 psf | Year built: 2017 | Listing agents: Chad Carroll and Matthew Dugow, both with Compass Florida | Buyer's agent: Stephan Hermida with Engel & Völkers Miami
Least Expensive
Naranja Lakes, 14830 Naranja Lakes Boulevard, unit A4Q, in Homestead | Price $77,000 | $72 psf | Year built: 1974 | Listing agent: Marlon Cadenas with Grand Beach Realty | Buyer's agent: Marlon Cadenas with Grand Beach Realty
Highest Price Per Square Foot
Continuum on South Beach, 100 South Pointe Drive, unit 1006, in Miami Beach | Price $12,450,000 | $4,964 psf | Year built: 2002 | Listing agents: Dustin Nero, Bill Hernandez and Bryan Sereny, all with Douglas Elliman | Buyer's agent: Inna Ponomareva with Zelloo Of Florida
Lowest Price Per Square Foot
Naranja Lakes, 14830 Naranja Lakes Boulevard, unit A4Q, in Homestead | Price $77,000 | $72 psf | Year built: 1974 | Listing agent: Marlon Cadenas with Grand Beach Realty | Buyer's agent: Marlon Cadenas with Grand Beach Realty
Newest
Aston Martin, 300 Biscayne Boulevard Way, unit 702, in Miami | Price $2,400,000 | $1,628 psf | Year built: 2024 | Listing agent: Mickael Lancri with Mickael Lancri PA
Oldest
1218 Drexel, 1218 Drexel Avenue, unit 202, in Miami Beach | Price $397,500 | $443 psf | Year built: 1925 | Listing agent: Aurea Nayrobi Garcia Aguilar* Coldwell Banker Realty | Buyer's agent: Angelica Smith with United Real Estate Miami