The supply of unsold condos is growing in downtown Miami, as the pandemic continues to pummel South Florida’s economy. Reported The Real Deal.
Greater Downtown Miami has more than 30 months — or two-and-a-half years — of supply of condos, and 100 months — or more than eight years — of supply of luxury condos for sale, according to an analysis of Multiple Listing Service data by Condo Vultures Realty. Both figures are based on sales during the first six months of the year in the area between Edgewater and Brickell, east of I-95. The MLS does not typically include preconstruction sales.
Read More: https://therealdeal.com/miami/2020/08/21/a-buyers-market-condo-supply-soars-in-downtown-miami/