Oceanfront Condos: Inventories are down and sales are up!

The oceanfront condo activity since August is quite incredible.  In every luxury oceanfront condo building, there have been buying opportunities and there are buyers buying.  Followers of blogsouthflorida know that when I reference buying opportunities, I am in most cases referring to “motivated sellers”, not short sales or bank owned properties.

There has been a significant increase in sales.   The opportunities we have identified and monitor are truly quite incredible.  Units that are direct oceanfront units and are considered the most desirable and sought after are selling and inventories are declining. Building after building these unique opportunities are being sold and those truly incredible deals are going fast.

In Miami, Fort Lauderdale and Palm Beach In the past 60 days there have been 89 closed oceanfront condo sales with the specification of at least 2 bedrooms priced over $800,000.

At One Bal Harbour, there was only one unit listed in one of the most desirable lines.  It sold and closed

Canyon Ranch, Miami Beach,  one of my direct oceanfront 2 bedroom listings had multiple bids on it!!!

At the Palms , in Fort Lauderdale, there were about 6 units listed under $1 million.  They have pretty much all sold.

The South Florida Oceanfront condo market is very unique.

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