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Black swans, magic unicorns and fantasy land: the Miami condo market in 2020

There is a fundamental disconnect between supply & demand in the Miami and Miami Beach condo markets. Inventory has steadily risen across market segments, all while transaction volume has dropped off. Higher price points are the worst offenders. The Miami $1M+ market saw a 147% increase in supply since 2013, while sales dropped 32% in the same period
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Miami Beach Top 10 Condo Sales – Q1 & Q2 2018

2018 Q1 & Q2: The top 10 Miami Beach condo sales ranged from $8.7M - $26M. The second quarter saw a record number of $3M+ sales, as buyers negotiated significant discounts. The top ten sales averages a 29% discount off of their original list price and took an average of 503 days to sell. Post has interactive map and table.
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