A penthouse at Murano Grande in South Beach has become the highest-priced property to go under contract during a slow holiday week for Miami-Dade County’s luxury real estate market. The nearly $15 million pending deal was one of 11 contracts signed between November 24 and November 30, as reported by Eklund-Gomes. This report monitors listings for homes and condos priced at $4 million or more that are included in the Multiple Listing Service.
During this period, luxury properties spent an average of 202 days on the market before finding buyers. In total, 32 new luxury listings were added, bringing the overall inventory to 1,298 active listings in Miami-Dade.
The previous week saw higher activity with 21 contracts signed for properties totaling a combined asking price of $179 million.
According to the Douglas Elliman team led by Fredrik Eklund and John Gomes, the six single-family homes and five condos placed under contract last week had a total asking dollar volume of $86.2 million. The single-family homes averaged an asking price of $7 million and spent about 184 days on the market, amounting to $41.2 million in total asking volume.
Among these, a five-bedroom, seven-bathroom house at 7305 Belle Meade Island Drive was the most expensive single-family home to secure a buyer last week. The 5,800-square-foot residence is listed for $11.5 million with Compass agent Geva Bar. Property records indicate Emre Balci owns the half-acre lot; he purchased it for $8.2 million in 2022. The house dates back to 1950.
Condos under contract last week had an average asking price of $8.9 million and spent an average of 224 days on the market, totaling $44.3 million in asking volume or roughly $2,500 per square foot.
The featured Murano Grande penthouse is located at 400 Alton Road and covers two stories with a total area of 5,300 square feet. It is listed by Jeff Miller of One Sotheby’s International Realty for $14.9 million ($2,809 per square foot). Records show Mario Cesar Rodriguez owns Penthouse A; he acquired it for $4.1 million in 2003.
In comparison, New York recorded 19 home contracts last week according to the Olshan report, with a combined asking price of $189.3 million and an average time on market of 784 days.
