WRE News: Miami-Dade Condo Sales Plunge in August, Falling to $470M

Photography by on September 10th, 2024 in News

Miami, FL – September 10, 2024 – Miami-Dade’s condo market slumped in August with a significant drop in sales volume.

Condo sales in Miami-Dade County totaled $470 million in August, a sharp decline from $624 million in July, as the number of closings fell from 810 to 712. The median sale price dipped to $380,000 from $407,500 the previous month, with the price per square foot dropping to $388 from $416.

The most expensive sale last month was a unit at Grove at Grand Bay in Coconut Grove, which sold for $19.5 million, while the lowest-priced sale was a unit at Star Lakes Estates for $92,500.

High-end condos still commanded top dollar, with Continuum South Beach setting the highest price per square foot at $3,021, while Cricket Club had the lowest at $95 per square foot.

Despite these declines, notable sales continued across the county, with listings ranging from recently built units to historic properties dating back to the 1920s.