Luxury Oceanfront Condo Market-Inventories are building


Well the climate has changed once again.  History is known to repeat itself.  In case you haven’t been following the luxury real estate market for the past few years, Miami, Miami Beach and Sunny Isles have experienced a luxury oceanfront condo new construction real estate boom.   These new buildings are for the most part. offering multi million dollar large condominiums set in amenity rich buildings.  These bespoke properties have signature identities such as the Porsche Tower in Sunny Isles or the signature Faena Residences.  Many of these unique properties have sold quite well over the last few years.  Until recently.

The market has taken quite a distinctive change.  Sales have slowed considerably both in the new construction market and in the resale market.  Inventories are building and sellers are getting frustrated.  Why?  Numerous reasons.  Strong dollar, the election, global warming,  BREXIT,  terrorism,  etc…

As we experienced in the last go around,  as inventories build,  prices start to come down.  Buying opportunities exist.  Stay tuned for data, statistics and opportunites.