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.