Most luxury homebuyers in South Florida slowed their activity during the recent holiday week, but some transactions still occurred. According to a report from Douglas Elliman’s Eklund-Gomes team, eight contracts for homes priced at $4 million or more were signed in Miami-Dade County between December 22 and December 28. The total asking price of these pending deals reached $54.4 million, with properties spending an average of 118 days on the market.
This marks a decrease from the previous week, when 19 contracts totaling $305 million in asking volume were signed. That period was led by a waterfront Coconut Grove estate that went under contract with an asking price of $115 million.
The report covers single-family homes and condos listed on the Multiple Listing Service in Miami-Dade County. It noted that there were 19 new listings added last week, bringing the total number of active listings to 1,315.
Of the eight properties that went pending last week, five were single-family homes and three were condos. The average asking price for condos was $6.3 million, or $2,318 per square foot. These units spent an average of 72 days on the market before going under contract. Single-family homes had an average asking price of $7.1 million, or $1,762 per square foot, and remained on the market for about 145 days on average.
The most expensive property to find a buyer last week was a house at 2830 Lucerne Avenue in Miami Beach with an asking price of $9 million. According to records, Daniel R. Morel purchased this Sunset Island I home for $4.7 million in 2015. Built in 1936 on a third of an acre lot, it features four bedrooms, four bathrooms, one half-bathroom and a pool. The property was initially listed at $9.9 million in February by Nancy Batchelor and Carolyn Batchelor with Compass.
Another notable transaction involved a home at 3470 Poinciana Avenue in Coconut Grove with an asking price of $8 million. Records indicate Brian Lippey and Jacqueline MacLeod bought this house for $3.8 million in 2020; it was built that same year on a quarter-acre lot and includes five bedrooms, six bathrooms and one half-bathroom. Lippey and MacLeod first listed it last year for $8.8 million; Riley Smith and Brian Sehmann with Compass handled the listing.
