Condos on the coast of Miami-Dade County have different discount rates, depending on which side of Biscayne Bay the condos sit, according to a report from Condovultures.com.
Prices are leveling off for condos on Barrier Island, while average discounts on Miami-Dade’s mainland are increasing with new construction, the report said.
As of July 31, mainland Miami saw an average discount of 32 percent, or $174,135. The average discount on Barrier Island, which has more expensive properties, was 27 percent, or $198,199.
Overall in South Florida, Palm Beach and Broward counties have the largest average discounts. Royal Palm Beach has the deepest average discount, according to CondoVultures, at -52 percent. TRD