September 1 2013 report by Arno DeVos 

Here's a quick snapshot of Miami Beach's most southern point neighborhood "South of Fifth" real estate closed sales averages. With the very limited inventory in SOFI (south of Fifth) the active listings are higher than these averages and are setting record prices. Luxury condos and penthouses are the driving force of this neighborhood. 

1. OCEAN HOUSE 2013 average closed sale $1,800 per Sq/ft

2. CONTINUUM 2013 average closed sale: $1,398 per Sq/ft

3. SOUTH POINTE TOWER 2013 average closed sale: $ $739 per Sq/ft

4. PORTOFINO TOWER 2013 average closed sale: $828 per Sq/ft

5. APOGEE 2013 average closed sale: $2,371  Sq/ft

6. MURANO AT PORTOFINO 2013 average closed sale: $1,064 Sq/ft

7. YACHT CLUB in 2013 average closed sale: $631 Sq/ft

8. MURANO GRANDE 2013 average closed sale: $1,064 Sq/ft

9. ICON SOUTH BEACH 2013 average closed sale: $911 Sq/ft

10.SOUTH OF FIFTH TOTAL average closed price $992 Sq/ft 

Many new luxury residential developments have broken ground this month South of 5th which include 321 Ocean Drive, 120 Glass, One Ocean and Marea. These project are all across the street from the beach with exception of 321 Ocean Drive which is on the directly on the beach. All these new projects are recording the highest price per square foot for new construction in the neighborhood. 

This neighborhood is becoming more popular with celebrities and sports stars with many of the new buildings with 24/7 security and  VIP concierge services being offered. 

View more information on new pre-contruction projects in Miami 

Search updated listing for Miami Beach's South of Fifth neighborhood