Published by Peter Zalewski
2/21/2024 
2:58:08 PM 
Industry watchers say that Florida condo pricing peaks in Miami Beach’ s South Of Fifth (SoFi) neighborhood and decreases as you move to the north, south and west from the tip of the barrier island.
The local colloquialism was proven true again in 2023 when nine of the 10 most expensive condos to trade in Miami Beach were located in the affluent, five-block long neighborhood of SoFi that stretches from South Pointe Drive (effective Zero Street) north to Fifth Street.
A review of the 2023 statistics shows that the SoFi condos on the Top 10 list traded at an average price per square foot ranging from $3,347 to $4,631.
By comparison, the average transaction price for a Miami Beach condo was about $727 per square foot in 2023, according to a recent report.
In 2023, buyers paid more than $1.8 billion for about 1,949 condos in Miami Beach, according to the stats.
The only condo on the Top 10 list of most expensive units sold in 2023 that is not in the SoFi neighborhood is located at the recently built 57 Ocean project in the Middle Beach submarket.
We have crunched the statistics for the Year 2023 and plan on publishing a series of of reports during the next two weeks on CondoVultures.com looking at the winners and losers in Miami Beach.
If you want the reports emailed to you, just sign up for the Miami Condo Market Intelligence Report With Peter Zalewski™ newsletter at: PeterZalewski.substack.com
Additionally, we encourage you to check out our video and audio podcasts.
This information is believed to be accurate and complete but cannot be guaranteed or warranted. For more information, please call 305.865.5859 or visit CondoVulturesRealty.com
Copyright © 2024 Condo Vultures®, LLC. All Rights Reserved.
Condo Market Inventory Tracker
A Snapshot Of Coconut Grove
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 19 | 9.5 |
| Luxury Condos | 16 | 10.1 |
| Shortsales | 0 | 0.0 |
| REOs | 0 | 0.0 |
| Rentals | 14 | 2.6 |
Peter Zalewski is a licensed real estate broker and consultant focused on the South Florida condo market. Zalewski is a former special contributor to the Miami Herald and a former real estate columnist for The Real Deal magazine. Zalewski now hosts the Miami Real Estate Investing Podcast that is available in audio and video wherever you get your podcasts.
Confused about whether it is the appropriate time to buy or sell a condo in South Florida? The experts at CVR Realty are here to assist you in crafting a strategy during this uncertain time. Unlike many brokers offering services, our organization has been through the cycles and can assist you to capitalize on the situation.
For a free consultation, please contact the South Florida Condo Experts
or Visit
