South Florida by the numbers: 93 percent of last boom’s condos have sold…median prices appreciated 33 percent in a year…and more

Miami /
Sep.September 13, 2013 10:16 AM

“South Florida by the numbers” is a feature that catalogues the most notable, quirky and surprising real estate statistics. Miami as the condo comeback kid continues to be the dominating real estate story, as global interest keeps the market red-hot. The surplus of condos from the last boom cycle is nearly gone. Cash-paying investors are helping to build a whole new slate of interesting projects in the coming years. See these stats and more after the jump.

93
Percentage of the 23,000 condo units built in last condo boom that have been sold [The Real Deal]

10,000
Approximate number of condo units that buyers pulled out of after the 2007 real estate collapse [The Real Deal]

33
Percentage increase in the median price of condominiums from July 2012 to July 2013 [Miami Association of Realtors]

$1,060
Mean price per square foot for a pre-construction condo in Miami-Dade County, as of August 2013 [Condo Vultures]

$34 million

Price paid for two side-by-side penthouse units in The Residences at the Miami Beach Edition, making it the biggest condo sale in Miami-Dade County history [Forbes]

$55 million
Price of the “Palazzo D’Oro” penthouse at the Mansions At Acqualina, making it the most expensive condo listing in Miami [Curbed]

15,772
The number of condo units in Miami-Dade that are in some stage of foreclosure or bank-owned [RealtyTrac]

3,036

Residential units currently under construction in downtown Miami [Miami DDA]

6,200
Additional residential units proposed for downtown Miami’s core Brickell and central business districts [Miami Today]

830
Number of feet Florida East Coast Realty Tibor Hollo‘s Panorama Tower is projected to rise over Brickell Avenue when completed, becoming the tallest building in Miami and Florida [Miami Today]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior. 


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