The summer slowdown hit especially hard last week for luxury residential properties across Miami-Dade County.
Buyers signed nine contracts between Aug. 11 and Aug. 17, according to the latest Eklund-Gomes report, which tracks listings of homes and condos asking $4 million and up in Miami-Dade that are included in the Multiple Listing Service. The properties spent 101 days on the market, on average.
Thirty-one luxury listings were added to the market, for a total of 1,153 listings.
The previous week, buyers signed contracts for nine properties in Miami-Dade, asking a combined $109.7 million.
The asking dollar volume for the six single-family homes and three condos under contract last week totals $62.7 million, according to the report, which is authored by the Douglas Elliman team led by Fredrik Eklund and John Gomes.
The single-family homes that entered into contract last week had an average asking price of $7 million and spent an average of 92 days on the market. They totaled $42.3 million in asking dollar volume.
At the top of the pending single-family home contracts inked last week is for the 3,981-square-foot, five-bedroom and five-and-a-half-bathroom house at 1001 North Venetian Drive in Miami. The waterfront Venetian Islands home is on the market for $12.2 million with Monica Barros and Irlenne Laricchia of Shelton and Stewart Realtors. Records show a trust in the name of Fred S. Mann, an ophthalmologist, owns the 0.3-acre property. The Mediterranean-style house was built in 1938 and expanded in 2004.
The condos that secured buyers last week had an average asking price of $6.8 million and spent 119 days on the market, on average. They totaled $20.4 million in asking dollar volume, or an average of $1,968 per square foot.
A Fisher Island condo asking nearly $11 million topped the condo portion of the report. Unit 7441 at 7441 Fisher Island Drive, at Oceanside, is on the market with Karla Abaunza of Luxury Living Realty. The 3,959-square-foot condo, with three bedrooms and four and a half bathrooms, is asking $2,765 per square foot. A Delaware LLC owns the unit, and paid $7.5 million for the condo last year, records show. The building was completed in 2002.
Last week in New York, buyers signed contracts for 23 homes, according to the latest Olshan report. Their combined asking price was $148.9 million, and the typical home spent 1,000 days on the market.
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