The inventories in Miami’s real estate continue to decline with a modest pace. We have already written about Sunny Isles Beach only having 658 condos available for sale at the end of March. This month the inventories for sale were reduced to 624. The same tendency can be seen in Bal Harbour real estate. For example, last month there were 210 units available for sale in Bal Harbour, and now this month the amount was reduced to 207. Now fewer and fewer sellers are deciding to sell their properties and those who decide to usually find something else to buy.
South Beach real estateshows the same picture. The inventories for sale in SoBe (Miami Beach) were down to 328 compare to 347 about a month ago.
Developers have observed this picture, as they are planning to build many new projects in the South Florida real estate market, such as Apogee Beach at Hallandale, Mansions at Acqualina condo, Porsche Design Tower, Regalia, Chateau Beach at Sunny Isles, and Bellini at Williams Island condo.
On February 16, another developer, Consultatio, the leading Argentinian company, unveiled a new project called Oceana at Key Biscayne. The new project will be a building containing 142 units and 12 luxury villas, with floor plans ranging from 1,750 to 7,500 sq. ft.