The Real Deal Miami

New Boca/Deerfield condos still largely unsold

December 09, 2010 09:45AM

More than one third of new condos in the Boca Raton/Deerfield Beach
submarket built in the last seven years were still unsold as of the end
of September, according to a report from Condo Vultures. Buyers have
purchased around 650 units, or 63 percent, of the 1,050 units built
after 2003, leaving 400 units available at the end of the third quarter.
The concentration of unsold units is the highest in South Florida,
according to Peter Zalewski, founder of Condo Vultures. The Boca market
has also not had a bulk deal yet. TRD