Pictured above: A view of Miami’s skyline from Biscayne Bay.
Miami is undergoing a major transformation. Developers have bought up most of the city’s center and are pushing the limits of luxury and of living skyward. As Miami surges forward into the future, and becomes a global city, the prices of real estate will surge upward as well. At the moment, however, prices of condos for sale in Miami are still quite reasonable and the available inventory abundant.
A recent survey of the area from midtown to downtown Miami, revealed that there are thousands of condos for sale in Miami at the moment, 63 of which were listed in the past 7 days (60 qualified for this survey). The average price per square foot of these condos just listed for sale in Miami was $454.58.
The least expensive condo was an 848 square foot unit at the Madison, which is listed for $209,900 or $247.52 per square foot. The most expensive condo listed for sale in Miami is a 2149 square foot penthouse at the Atlantis off of Brickell. This 3/3 penthouse offers stunning views of Biscayne Bay is listed for $1.750 million or $814.33 per square foot.
Use the interactive map above to see the location of different condos for sale in Miami.
The range of prices and the abundance of inventory of condos for sale in Miami, makes this a great time to buy a condo. While it may take some time for condo values to go up again, over time real estate values in Miami will not only recover but rise again.
South Florida Real Estate News (SOFLARE) covers the latest real estate news in South Florida from Fort Lauderdale to Miami: new listings, recent sales, market trends, groundbreakings, grand openings and more. To receive the latest news, sign up for SOFLARE’s newsletter. SOFLARE News is published by South Florida realtor, Desiree Avila Wilcox.