Top 10 Ranking Of Miami Beach's Most Popular Condo Projects
A review of 2023 condo statistics identifies the condo projects that experienced the greatest number of unit resales.
Choosing a Miami Beach condo building to reside in can be a confusing process given the variety of choices.
After all, Miami Beach is a barrier island city sandwiched between the Atlantic Ocean west to Biscayne Bay, and South Pointe Drive north to 87th Terrace.
This 7.5-mile long city is comprised of a variety of condo product ranging from lowrise Art Deco buildings constructed nearly a century ago to highrise modern towers designed by internationally acclaimed architects.
In 2023, buyers paid more than $1.8 billion for about 1,949 condos in Miami Beach, according to a recent report.
The average transaction price for a Miami Beach condo was about $727 per square foot last year, according to the stats.
Join the Miami Condo Market Investment Club™ to see the comprehensive list of the Top 10 condo projects based on most total unit resales in Miami Beach
By comparison, half of the condo projects on the Top 10 list had an average transaction price of less than $520 per square foot in 2023, according to the stats.
Only two of the Miami Beach condo projects on the Top 10 list transacted at an average price of more than $1,000 per square foot.
The remaining three projects on the Top 10 list traded at an average price between $521 and $999 per square foot, respectively.
It is worth noting, all of the condo projects on the Top 10 list are located on sites that front the water, whether it be the ocean or the bay.
In addition, every one of the condos projects on the Top 10 list is at least 14 years old.
The takeaway of the stats for the Top 10 list is, buyers are opting for older, waterfront towers that come at prices that are less than the average 2023 price per square foot for a Miami Beach condo.
To assist with better understanding the market, CondoVultures.com has analyzed the 2023 condo resales to provide a ranking of the 10 most active buildings based on total unit sales.
The rankings are not proportional and ignore the total number of units in a project. Price, quality and amenities are also not factored into the rankings.
The purpose of the rankings is to show where buyers have purchased the greatest number of units in the 12 months of 2023.
For some buyers, they want a building with a lot resale activity as it suggests a certain quality of life and an increased probability for resales in the future. For other buyers, a building with little resale activity suggests stability or even lower prices.
This list was created by CondoVulturesRealty.com using proprietary statistics along with data from the Southeast Florida MLX Matrix, Cranespotters.com, Miami-Dade Property Appraiser’s Website and Miami-Dade Clerk Of The Court.
For context, Miami Beach is made up of three distinctly different submarkets with flashy South Beach, mellow Middle Beach and working class North Beach.
From south to north, the South Beach submarket is defined as the South Pointe Drive north to 41st Street.
The Middle Beach submarket is an area that extends from 41st Street north to 63rd Street.
The North Beach submarket stretches from 63rd Street north to the Surfside city limits at 87th Terrace.
For those seeking more details, we have created a comprehensive chart ranking the Top 10 Miami Beach condo projects. The chart includes the total number of units sold, the average price per unit, price per square foot and the number of days on the market for the projects with the greatest number of transactions.
The chart is available behind the paywall for members of the Miami Condo Market Investment Club™.
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.
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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
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