What Does the Condo Market in South Florida Look Like in 2018?
If you’re thinking of the next place to call your home, you might want to seriously consider getting a condominium in South Florida. To say that the condo market in this part of the country is booming is a gross understatement. It is literally the most sought-after place even by the country’s foremost business magnates, tycoons, celebrities, politicians, and other members of the social elite. But don’t let that fool you. It may be the second home to many of the world’s wealthiest and most powerful, but South Florida remains a friendly place to live in even for the budget-conscious. So what does the condo market in South Florida look like?
Which Condo Market Do You Like?
With key cities such as Miami, Fort Lauderdale, Pompano Beach, and Miami Beach, among others bathed by the rays of the warm tropical sun and cooled in the afternoon by the waters of the blue Atlantic Ocean, this section of the state of Florida is home to many of the world’s finest luxury condominiums that serve as glistening towers standing guard over the lush greens of the west and the blue waters of the east. Each condominium that has ever been erected provides a sweeping view of the Atlantic oceanscape on one side and the rest of South Florida on the other. It is like providing you with the best of both worlds: the Americas and Europe on the other side of the Atlantic.
In the most recent report, condominium sales are dropping, not because of the change in perception among potential property owners about the diminishing value of living in this part of Florida. Instead, experts attribute the drop in condominium sales to the sudden increase in the number of new condominium projects in the key cities.
Luxury Condominiums Are Hot!
It is because of these new, better, and more luxurious condo projects soon to kiss the South Florida sky that potential condo buyers are holding off their decision to buy now since a much better one will soon be available. This can also be seen in the total inventory sales that have been occurring for several months now. While it is easy to panic, you shouldn’t really worry as everything is a sign of the continuing growth of the condo market in South Florida.
So what does the condo market in South Florida look like? It’s definitely marked by rapid development, producing more luxurious homes for the world’s most demanding property owners. Call Ed Cook today to list your home or locate your next home! 732- 997-8620