The Real Deal Miami

Waterfront sales drop 50 percent

July 16, 2009 04:35PM

According to Multiple Listing Service information and tax rolls, waterfront sales have plunged by half in the second quarter of the year compared to the same period of 2008. There were 16 sales in the three-month stretch, down from 30 last year. The price per square foot dropped to $675 from $966, and time on the market has climbed to 272 days, from 216 a year ago.