Harbour House

A 57% fall that was really 11%

Qualified sales from the Miami-Dade County Property Appraiser record, counted 18 August 2026 — arm’s-length transactions only.

The median sale price falls from $1,087,500 to $462,500 — a drop of 57%. On its own that reads like one of the worst-performing buildings in Miami.

Price per square foot over the identical four years and the identical 52 transactions falls from $1,030 to $915 — 11.2%.

The headline figure overstates the decline by roughly five times. The cause is straightforward: homes here run from 361 to 5,344 square feet, a factor of nearly fifteen. In a building with that spread, the median sale price mostly reports which homes traded in a given year, not what the building is worth.

An 11.2% decline is still a decline, and this page is not arguing otherwise. But 11.2% and 57% lead to completely different decisions, and only one of them describes what happened.

Where the building actually turned

The per-foot column does something the median column entirely conceals. It falls once, then stops.

$1,030 to $885 is a drop of 14.1% between 2023 and 2024. After that: $885, $907, $915. The last three years are effectively flat, and the trend within them is gently upward. On this record the correction here happened in 2024 and has not continued.

Meanwhile the median price kept falling through every year — $1,087,500, $750,000, $690,000, $462,500 — which would tell a buyer the decline was ongoing and accelerating. It was not. Each successive year simply had a smaller mix of homes trading.

The sample deserves a note. Fifty-two qualified sales across four years, thinning from 18 to eight. That is a reasonable four-year total but a modest 2026, so the $915 figure should be read as consistent with stabilisation rather than as proof of it. What gives it weight is that it is the third consecutive year in the same narrow band.

On the ceiling: the record sale is $2,575,000, from June 2023, for a 1,407 square foot home — roughly $1,830 per square foot, far above the building median. The top of this building trades on a different basis from the rest of it, which is itself part of why the median moves so violently.

What is in the building

The county record returns 450 folios at 10275 Collins Avenue. They arrive under two spellings of the same name — HARBOUR HOUSE CONDO (443 folios) and HARBOUR HOUSE (7) — which is a county record-keeping variant, not two buildings. Counted together and filtered to homes, that is 449 residential homes and one commercial unit.

The mix is 212 two-bedrooms, 164 one-bedrooms, 69 studios, three three-bedrooms and one four-bedroom. Heated area runs 361 to 5,344 square feet, with a median of 896.

The 2026 assessed values run $87,316 to $3,864,840, with a median of $658,717, a top-to-bottom spread of more than forty times. That tells you the same thing the size range does: this address contains several quite different kinds of home.

Who this building suits

It suits a Bal Harbour buyer who wants a compact-to-mid-size home at a per-foot price that has been stable for three years. On the county evidence the per-foot price fell once, in 2024, and has not fallen since, which is not what the widely quotable figure implies.

It suits a large-home buyer only opportunistically. There are four homes of three bedrooms or more in 449, so the format is genuinely scarce, and with so few comparables at that end, pricing one is difficult in both directions.

For an investor, the informational edge is the point. This building’s median-price record looks catastrophic and its per-foot record looks stable. Anyone negotiating from the first number is negotiating from a misreading — and on a building at this price level, the gap between the two readings is worth a great deal.

If you are selling here, insist on a per-square-foot comparison against homes of your own size. Your building has not lost 57% of its value, and you should not accept a valuation built on the assumption that it has.

Interested in selling at Harbour House?

Learn more about selling your condo at Harbour House with Josh Stein.

I'M READY