Condo sales in Miami-Dade surged in March, reaching a total of $694 million

In March, Miami-Dade County witnessed a significant surge in condo sales, culminating in a record-breaking $44 million transaction. Total condo sales for the month reached an impressive $694 million, marking an increase from $559 million in February. Brokers finalized 796 sales in March, up from 704 in February and 598 in January, as per Multiple Listing Service data from Redfin.

The sale prices in March spanned from $80,000 to $44 million, with a median sale price standing at $455,000. Additionally, the price per square foot ranged from $60 to $6,587, with a median of $460 per square foot.

In February, sales concluded with a median price of $402,500 and $424 per square foot.

The highest-priced sale in March, a record-breaking $44 million, occurred at the Four Seasons Residences at the Surf Club. Unit N-PH4 at 9111 Collins Avenue in Surfside fetched $6,587 per square foot after spending 137 days on the market.

This significant sale surpassed February's top deal, which saw a unit at Four Seasons Residences at the Surf Club sold for $24 million. 

Source: Adam Farence, TheReaDeal, April 4th 2024.