South Beach's Unsold Inventory

Real Estate Blog Article

Thursday, March 11, 2010

Does the Miami Beach condos landscape seem a bit less crowded than what's customary?  It's not entirely surprising.  Despite several areas within the barrier island seeing price drops, recent reports show that over 1,300 units available for sale amongst the more than 5,500 available in South Beach are still in pristine condition as they have literally never been lived in.  In other words, they've remained unsold as of the beginning of this year.

As a whole, prices for Miami Beach real estate have dropped somewhat but that's not quite the case in the South Beach area.  Being that South Beach receives worldwide exposure and is where the priciest condominiums are, there's significantly less odds of developers willing to negotiate on prices since demand remains relatively strong.

Over the past seven years more than two dozen Miami Beach condos have been built yet less than fifty percent of those projects have completely sold out .  These numbers are a fascinating real world example of the large amount of excess inventory in Miami Beach yet the strong demand remains.  Would greater flexibility in price help to sell more of these unsold units or is such a move not even necessary?

Comments: 0
There are no comments for this post.
Post a comment below
LEAVE A COMMENT
 
Name
 
Email Address
 
URL
 
 
Comment
 
Captcha

Type the characters you see in the picture above.
 
 
< Back

Updated: Wednesday, April 23, 2014

Home Decor On The Cheap This W...
Do you have that itch to redecorate“ It must be in the air, because were feeling it to...

RESPA Applies To More Than Jus...
Our recent discussion of RESPA, like similar discussions before it, prompts more questions t...

No Mow Blow amp; Go For Your H...
Ahhhhh Spring Thoughts of lovers turn to love and those of landscaper contractors turn to gr...

Copyright ©2014Realty Times®. All Rights Reserved