The Super Bowl left an upstanding positive outcome for different industries in Miami. tourism, the most obvious one, commerce, and even real estate! Condo sales jumped by 64% on the Super Bowl LIV week. There were 135 condos sold in Miami last week with a total sold price of $56 million, compared to 82 sales the previous week, that sold for $34 million.
Thousands and thousands of visitors came to Miami for the Super Bowl LIV and some of them used this opportunity to check out some real estate. The luckiest market was the luxury condos that almost double visits last week compared to the one before. Some big events were hosted with on-sie sales galleries in high-end condos to attire more travelers.
Just to mention a few, 57 Ocean Condo hosted a dining party with the quarterback of Dallas Cowboys, Troy Aikman as a special guest. Brickell City Center Condo hosted an exclusive dinner at the Rise condo with 50 guests, Oceana Bal Harbor Condo had a watch party on Sunday and Paramount Miami Worldcenter Condo hosted a cigar party with former coach Mike Ditka and Ron Jaworski.
There was an average sold price of $415,000 or $300/sqft last week. The highest-priced unit sold last week was unit #417 at the Four Season Residences at Surf Club which closed at $6.2 million or $1,811/sqft, that after a long wait of 722 days on the market (DOM), finally found a buyer. The second biggest sale in Miami during the Super Bowl LIV week was the beautiful Penthouse #104 at Majestic Towers Condo that sold for $3.6 million or $909/sqft.
More visitors equals more sales, as simple as that! And the Super Bowl LIV event brought a large line of leads that helped the industry close some deals!