Oceanfront Condos Sales Activity-Inventories are Shrinking

This season, oceanfront condos in new buildings have been selling with incredible speed.  Building such as Ocean Palms and Diplomat in Hollywood that had 20 to 30 units lurking around for the past year have had so many sales that  inventories have been reduced to just few units.  Ocean Palms has a mere 10 units left for sale.  The chart below will show you what has sold and closed in the last 90 days in Broward county and then in Dade.

Some interesting sales to note, one of the penthouse at the Diplomat Residences sold for $2,600,000 and a Penthouse Villas of Positano sold for $1,750,00.

In Miami Dade there were 2 sales over $5 million, several transactions at Turnberry Ocean Colony, and numerous sales at the Bath Club Miami Beach, a relatively small building.

Oceanfront Condominiums (built after 2000) Broward County- Including Hollywood Hallandale and Fort Lauderdale

Closed Sales past 90 Days:

Oceanfront Condominiums (built after 2000) Miami Dade County- Including Sunny Isles, Miami Beach and Bal Harbour

Closed Sales Past 90 Days

The Pending Sales information is even more staggering. In the past 60 days 45 oceanfront condos went to contract in Fort Lauderdale.  In Miami Dade, 85 oceanfront condos went to contract.
We are seeing so many buyers from all over taking advantage of great prices and advantageous international exchange rates, especially for our Canadian friends. The Oceanfront Condo market is very much alive and kicking !

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