Bal Harbour Condo Market | An 8-Year Snapshot
Why 8 years?
While the average homeowner trades their residence every 7 years, it’s more like every 2 to 3 years in Miami.
BAL HARBOUR CONDOS (2009 to 2017)
Ample inventory, limited buyer pool – these are the fundamentals of supply & demand and our current condo market is living proof of what it means to be in a strong buyers market. An article from Forbes this week interviews Mr. Defortuna in which he states that EIGHTY percent of buyers at Brickell City Centre are foreign. This is typical in Miami as global investors trade condos like New York trades stocks. And because of the strong U.S. dollar, many of our International buyers are simply waiting.
“This is about 80 percent foreign owned, I’d say, about half of them live here year round.” – Walter DeFortuna, CEO of Fortune
So what’s the conclusion, my friends?
Continued Bal Harbour Condo Deals.
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This post first appeared on Miami Beach & Sunny Isles Real Estate, please read the originial post: here
