A broad market with a premium segment
The median sale price was $755,000, while the average was $968,615. The $213,615 gap indicates that a smaller group of higher-value closings materially lifted the annual average.
Annual market review
2024 Edgewater Condo Sales Report
A full-year review of MLS-reported Edgewater condo sales — monthly activity, pricing, bedroom segments, quarterly comparisons and the year’s most notable closings.
Published annually · MLS-reported condo sales · independent verification recommended
At a glance
2024 in Edgewater condo sales
Closed condo sales
379
Total dollar volume
$367,105,016
Median sale price
$755,000
Average sale price
$968,615
Median $/sq ft
$654
Buildings with sales
33
Monthly activity
Sales volume through the year
Bars show total reported closed-sale volume. The table provides the underlying counts and pricing metrics.
| Month | Units Sold | Total Volume | Median Price | Average Price |
|---|---|---|---|---|
| Jan | 26 | $26,356,000 | $787,500 | $1,013,692 |
| Feb | 33 | $25,492,500 | $755,000 | $772,500 |
| Mar | 30 | $32,183,500 | $622,500 | $1,072,783 |
| Apr | 43 | $39,262,000 | $755,000 | $913,070 |
| May | 40 | $38,449,500 | $797,500 | $961,238 |
| Jun | 30 | $28,173,000 | $588,500 | $939,100 |
| Jul | 32 | $37,916,000 | $861,000 | $1,184,875 |
| Aug | 22 | $17,412,500 | $707,000 | $791,477 |
| Sep | 27 | $26,749,000 | $752,000 | $990,704 |
| Oct | 34 | $38,469,000 | $787,500 | $1,131,441 |
| Nov | 25 | $25,001,039 | $745,000 | $1,000,042 |
| Dec | 37 | $31,640,977 | $660,000 | $855,162 |
By residence type
Bedroom breakdown
| Residence type | Units Sold | Total Volume | Median Price | Average Price |
|---|---|---|---|---|
| Studio | 9 | $2,625,500 | $288,000 | $291,722 |
| 1 Bedroom | 117 | $55,342,000 | $440,000 | $473,009 |
| 2 Bedrooms | 157 | $134,015,039 | $800,000 | $853,599 |
| 3+ Bedrooms | 96 | $175,122,477 | $1,447,500 | $1,824,192 |
Quarterly comparison
How the year changed quarter by quarter
| Quarter | Units Sold | Total Volume | Median Price | Average Price | Median $/sq ft |
|---|---|---|---|---|---|
| Q1 | 89 | $84,032,000 | $748,000 | $944,180 | $623 |
| Q2 | 113 | $105,884,500 | $712,500 | $937,031 | $653 |
| Q3 | 81 | $82,077,500 | $800,000 | $1,013,302 | $697 |
| Q4 | 96 | $95,111,016 | $752,500 | $990,740 | $640 |
Notable closings
Top 10 highest Edgewater sales
| Building | Unit | Sale Date | Sale Price | $/sq ft |
|---|---|---|---|---|
| Biscayne Beach | #5101 | Oct 15, 2024 | $8,250,000 | $1,047 |
| Aria on the Bay | #PH15 | Jan 24, 2024 | $7,500,000 | $1,564 |
| Star Lofts on the Bay | #PH | Apr 9, 2024 | $4,500,000 | $715 |
| Elysee | #5102 | Jun 25, 2024 | $4,500,000 | $1,290 |
| Gran Paraiso | #UPH3 | Sep 26, 2024 | $4,500,000 | $1,302 |
| Elysee | #4602 | Nov 27, 2024 | $4,300,000 | $1,105 |
| Elysee | #601 | Mar 7, 2024 | $4,100,000 | $1,507 |
| Paramount Bay | #PH3906 | Jul 16, 2024 | $4,000,000 | $1,001 |
| Elysee | #4302 | Mar 12, 2024 | $3,850,000 | $1,330 |
| Gran Paraiso | #PH5201 | Jul 22, 2024 | $3,350,000 | $1,264 |
Highest sale$8,250,000
Biscayne Beach · #5101
Highest $/sq ft$1,564
Aria on the Bay · #PH15
Building activity
Top 12 most active Edgewater buildings in 2024
Ranked by closed sales, then total volume. Building-level medians are useful only as a starting point: views, floor, unit condition, line, timing and carrying costs can materially change a unit’s value.
| Building | Sales | Total Volume | Median Sale | Median $/sq ft |
|---|---|---|---|---|
| Aria on the Bay | 33 | $33,938,500 | $745,000 | $707 |
| Quantum on the Bay | 32 | $19,391,000 | $525,000 | $561 |
| Opera Tower | 32 | $12,822,039 | $380,000 | $487 |
| Missoni Baia | 25 | $45,335,000 | $1,325,000 | $1,044 |
| One Paraiso | 25 | $34,998,000 | $1,400,000 | $965 |
| Biscayne Beach | 23 | $36,383,000 | $1,125,000 | $913 |
| Paraiso Bayviews | 19 | $11,667,000 | $600,000 | $676 |
| Paraiso Bay | 18 | $18,224,500 | $950,000 | $834 |
| 1800 Club | 17 | $13,975,000 | $820,000 | $594 |
| Charter Club | 17 | $7,949,000 | $455,000 | $460 |
| Icon Bay | 16 | $16,877,500 | $810,000 | $750 |
| Cite on the Bay | 14 | $6,611,000 | $438,500 | $490 |
Market interpretation
What the 2024 data suggests
Observations below describe patterns in the reported sales data. They do not predict future performance or replace building-level due diligence.
Cash played a major role
Cash purchases accounted for 197 of 379 condo sales (52%). Conventional financing accounted for 163 sales, while FHA financing appeared in 2 sales. The remaining 17 transactions had another or unrecorded financing classification. This does not identify buyer motivations, but it confirms that cash was a major part of the year’s activity.
Final pricing favored patient buyers
Among 376 sales with a recorded final list price, 343 closed below asking, 24 at asking, and 9 above asking. The average final-list discount was 4.9% and the median was 4.5%. Median cumulative days on market among 376 reported sales was 105 days; the average was 152 days, which is more affected by long-running listings.
Activity was strongest in the second half
Q2 generated the year’s highest total volume at $105,884,500, with 113 sales and a median price of $712,500. Apr produced the highest monthly volume at $39,262,000, while Apr recorded the most closings with 43.
Larger residences drove a disproportionate share of volume
Three-bedroom-and-larger residences represented 96 of 379 sales (25%), yet accounted for 48% of annual dollar volume. Missoni Baia and Biscayne Beach led the neighborhood by total recorded volume at $45,335,000 and $36,383,000, respectively.
The most active residence type
157 2-bedroom residences closed in 379 total sales (41% of activity), with a median sale price of $800,000.
Methodology
How this annual report works
Source: Miami Realtors MLS. This report includes MLS-reported closed condominium sales matched to the approved Edgewater building universe during calendar year 2024. Sale dates are MLS closing dates and may differ from county-recorded dates. Price-per-square-foot metrics exclude sales without usable living-area data. Final list-price and days-on-market observations are limited to records where those fields were reported. Information is provided for educational purposes and should be independently verified before making financial, legal or real-estate decisions.