The Real Deal Miami

Condo closings pace slows

July 01, 2009 10:00AM

Central Miami condo closings declined by nearly 50 percent in the second quarter of the year, consultancy Condo Vultures reported. The group said greater downtown Miami closings dropped to 2.7 sales per day, down from an average of 5.2 deals per day in the first three months of the year. The report said 246 units in the 60-block stretch of Greater Downtown Miami sold between April and June. In the preceding six months, buyers closed on 466 new Downtown Miami units between January and March, and 441 units between October and December, the report said.