Summarizing the top 21 most expensive sales of luxury homes and condominiums in Miami Beach's real estate market for the final quarter of 2011:
As indicated at bottom of this blog post, Eleven condominiums priced over $3 Million sold in Miami Beach in the final quarter of 2011 for an average price of $1,765 per square ft. of living space.
Also indicated at the bottom of the blog post, TEN waterfront homes in Miami Beach priced over $2 Million were sold in the final quarter of 2011, at an average sales price of $720 per square ft. of living space.
The available Miami Beach luxury waterfront home and condo inventory drastically declined last year. As I previously highlighted in my 2011 Miami Beach Condos Year End Review, affluent foreign (and mostly cash buyers) have been taking advantage of recent real estate price corrections by spending over $3 BILLION in purchasing luxury homes andn condos in Greater Miami. As a result, we've seen a dramatic drop in
Miami Beach's premier waterfront home and condo inventory. The most searched and sought-after Miami Beach waterfront homes are in the luxury island communities of Palm, Star, Hibiscus, Sunset Islands I - IV, and the Venetian Island Chain that links Miami with Miami Beach. The highest priced condo buildings are The Continuum on South Beach, Apogee Miami Beach, The IL Villaggio (directly on Ocean Drive), The Bath Club (North Beach area), and The Setai Condo/Hotel on Collins Avenue.
Given the strong anti-development sentiment and building regulations in Miami Beach, the future supply of premier waterfront homes and condos in Miami Beach will continue to be VERY limited. Combined with an amazing city and beach lifestyle, I believe that high net worth foreign cash buyers to will continue to invest in Miami Beach luxury homes and condos in premier locations. Therefore, I'm convinced that in 2012 we will see strong price appreciation for premier waterfront Miami Beach homes and condos.
Below are the Top 21 Closed Sales of Miami Beach Homes and Condos for the Final Quarter of 2011:
| Closed Date | Miami Beach Address | Miami Beach Property | S.F. | Sales Price | SP$/SqFt |
| 1/6/2012 | 6641 BREVITY LN | Miami Beach Home | 5,900 | $ 2,500,000 | $ 424 |
| 1/5/2012 | 440 S HIBISCUS DR | Miami Beach Home | 5,415 | $ 3,600,000 | $ 665 |
| 12/21/2011 | 100 S POINTE DR # 2904 | Continuum on South Beach | 2,985 | $ 3,300,000 | $ 1,106 |
| 12/17/2011 | 441 N HIBISCUS DR | Miami Beach Home | 4,737 | $ 2,400,000 | $ 507 |
| 12/16/2011 | 1455 OCEAN DR # 1405 | IL VILLAGGIO Condos | 2,310 | $ 3,999,995 | $ 1,732 |
| 12/13/2011 | 800 S POINTE DR # 2103 | APOGEE SOUTH BEACH | 3,103 | $ 5,508,200 | $ 1,775 |
| 12/9/2011 | 101 20 ST # PH-A | Setai Condominiums | 6,209 | $ 21,500,000 | $ 3,463 |
| 12/9/2011 | 101 20 ST # 3609 | Setai Condominiums | 2,521 | $ 6,000,000 | $ 2,380 |
| 12/6/2011 | 1455 OCEAN DR # 1605 | IL VILLAGGIO Condos | 2,310 | $ 3,900,000 | $ 1,688 |
| 12/5/2011 | 2570 FLAMINGO DR | Miami Beach Home | 4,428 | $ 2,000,000 | $ 452 |
| 12/1/2011 | 15 STAR ISLAND DR | Miami Beach Home | 8,699 | $ 12,720,000 | $ 1,462 |
| 11/23/2011 | 100 S POINTE DR # 1106/7 | The Continuum Condos | 4,378 | $ 5,200,000 | $ 1,188 |
| 11/20/2011 | 114 W RIVO ALTO DR | Miami Beach Home | 3,305 | $ 2,060,000 | $ 623 |
| 11/3/2011 | 1620 W 21 ST | Miami Beach Home | 6,300 | $ 5,175,000 | $ 821 |
| 11/2/2011 | 6905 VALENCIA DR | Miami Beach Home | 4,500 | $ 4,100,000 | $ 911 |
| 11/1/2011 | 1420 W 22 ST | Miami Beach Home | 4,172 | $ 2,000,000 | $ 479 |
| 10/27/2011 | 800 S POINTE DR # 1603 | Apogee South Beach | 2,756 | $ 6,000,000 | $ 2,177 |
| 10/14/2011 | 5959 COLLINS AV # 906 | The Bath Club Condominiums | 4,135 | $ 3,100,000 | $ 750 |
| 10/10/2011 | 100 S POINTE DR # 3004 | CONTINUUM ON SOUTH BEACH | 2,508 | $ 3,495,000 | $ 1,394 |
| 10/10/2011 | 5328 N BAY RD | Miami Beach Home | 6,300 | $ 5,435,000 | $ 863 |
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