The Real Deal Miami

Hollywood/Hallandale sales jump

November 10, 2011 10:32AM

Condo resales are up 22 percent in the Hollywood/Hallandale area in the
first nine months of this year, according to a report from Condo
Vultures. From January to September, buyers took an average of nearly
150 units per month in the area, up from about 120 per month in the same
period in 2010. “Buyers are increasingly chasing condo resales in the
coastal Hollywood/Hallandale Beach market as nearly all of the new
product created during the boom — and subsequently discounted from the
peak — has already been absorbed,” said Peter Zalewski, founder of
Condo Vultures. “With the new product sold, buyers are focusing less on
condos as second homes and more on units that can be rented for amounts
that outpace [their] monthly expenses.” — Alexander Britell