August 08, 2018

Greater Downtown Miami may have 5 years of excess luxury condo inventory: report

In Greater Downtown Miami, it’s a true buyer’s market.

The area is facing a glut of luxury condo inventory, with about five years of excess supply, according to a new report from Condo Vultures Realty. Nearly 560 luxury units asking at least $1 million are on the market.

During the first half of 2018, about eight high-end units sold each month in Greater Downtown Miami. That means that there are about 70 months of inventory.

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