Medellin Penthouse Sells for 3.2 Billion COP, Raises Neighborhood Prices

A 452-square-metre penthouse at Carrera 43A No. 11-45 in El Poblado sold for 3.2 billion Colombian pesos at the July auction conducted by the Cámara de Comercio de Medellín, the highest single residential result recorded so far this month.

The transaction matters now because clearance rates across the city’s premium segment have slipped to 68 percent in the second quarter, down from 74 percent in the first three months, according to the latest Cámara de Comercio report released on 3 July. Buyers are becoming more selective while sellers still test elevated reserves.

The property sits two blocks from Estación Aguacatala on Linea A of the Metro and overlooks the green corridor that runs beside the Museo de Arte Moderno de Medellín. Both landmarks drew foot traffic that helped the unit reach its reserve within 22 minutes of bidding.

Three comparable apartments on the same stretch of Carrera 43A had listed between 2.6 billion and 2.9 billion pesos in May; the new sale has already prompted two of those owners to revise asking prices upward by 8 percent. In Laureles, a similar 380-square-metre apartment on Calle 33 that closed on 5 July fetched 2.45 billion pesos, a 12 percent premium over its April guide price.

Clearance trends and neighbourhood ripple effects

City-wide auction data compiled through 10 July shows 47 residential lots offered and 32 sold, producing a 68 percent clearance rate. Average days on market for properties above 2 billion pesos has lengthened to 47, compared with 31 days for lots priced under 1 billion pesos.

Agents at three Medellín firms reported that the Carrera 43A result has triggered fresh valuation requests for units within 400 metres of both the metro station and the museum. Two listings in Manila, previously guided at 7.4 million pesos per square metre, now carry revised figures of 8.1 million pesos per square metre.

Owners planning to list before the end of August should obtain an updated appraisal that references the 3.2 billion peso benchmark and verify reserve prices against recent sales on the same street grid. Those steps reduce the risk of a property passing in at the next monthly auction round.