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Development authority expects Miami’s condo market to soften more as sales decline
The condo market in greater downtown Miami is expected to be soft for the next several years, with fewer deliveries of new product. But that could create opportunities for buyers, according to the annual residential market update by the Miami Downtown Development Authority.
Integra Realty Resources Principal Tony Graziano authored the report on the residential market in downtown, Brickell, Overtown, Midtown, Wynwood, the Arts & Entertainment District and Edgewater. This comes at a time when existing condo sales have declined in Miami-Dade County for 13 consecutive months and some new condos have also seen slowdowns.