MIAMI BEACH JAN-JUNE PERIOD

$1M+

Sales volume is returning to normalcy after the Covid-19 frenzy, with the number sold reduced by 50%. Pace of market for all condos has quicken, reducing the average days on market by nearly 23%. In the $1M+ category, there is a 6.7% increase in average days on market. Average sales price per square foot for all condos/townhomes sold is up 3.1% the previous period in 2022.

(right) Sales reached reached their peak in March, with the average price being around $1.1 million. Luxury condos priced at $1 million or more also peaked in March, with an average sales price of $3.4 million. It is worth noting that the average selling price for all Miamii-Dade county condos sold during the same period in 2023 was $409,000.

CONDOS/TOWNHOMES

$1M+