Nearly 43% Of Miami Beach Condo Resales Traded Below $500 PSF In 2023

  • Published by Peter Zalewski
  • 2/22/2024
  • 12:45:01 AM
​A review of the condo statistics shows that the average price per square foot for a Miami Beach unit was about $727 per square foot last year.

Join the Miami Condo Market Investment Club™ to see the comprehensive chart of condo resales per price per square foot range in Miami Beach in 2023

The price point of less than $500 per square foot is noteworthy as it suggests one-bedroom condos with the standard 750 square feet of living space could be attainable for about $375,000 in Miami Beach.

This is far less than the public perception that suggests Miami Beach is a place primarily for wealthy individuals who are willing to spend as much as $4,700 per square foot for a unit on the barrier island.

For context, Miami Beach is a 7.5-mile-long city located on the barrier island between the Atlantic Ocean west to Biscayne Bay, and South Pointe Drive north to 87th Terrace.

We have crunched the statistics for the Year 2023 and plan on publishing a series of of reports during the next two weeks on looking at the winners and losers in Miami Beach.

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