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During the week of August 8 to August 14, Miami condo sales dropped. For that period, the total for condo sales was around $131 million. This was down from the previous week, when the total was $162 million. Furthermore, sales volume also dropped to 208 units from 237. For this period, condos sold for an average of $632,000. This was down from the previous week, when the average was $683,000.

The top sale for this period was a unit at Michael Stern’s Monad Terrace. This stunning unit is located in Miami Beach, and sold for $8.5 million. The sale equates to $1500 per square foot. Furthermore, this lovely penthouse sold after just one day on the MLS. Similarly, the second top sale for that period was unit 1601 at Oceana Bal Harbour. This unit also sold for $8 million, which equates to almost $4000 per square foot.

On the other hand the least expensive Miami condo sale was unit 1203 at Miami Beach Edition. This unit spent only 7 days on the market, and sold for $3 million.

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Miami condo sales dropped

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