The Real Deal Miami

Speed thrills in condo sales

Report confirms velocity of South Florida real estate market
October 28, 2014 03:45PM

One Paraiso rendering

One Paraiso rendering

Residential sales are accelerating in South Florida and inventory is running dry, according to a new report from a real estate trade group.

The Miami Association of Realtors said home sales are at record levels, properties are selling faster and buyers are achieving 95 percent of their list price, according to an article in the Daily Business Review. Local brokers are backing up the report. 

One Paraiso in Edgewater is 95 percent sold, even though the project doesn’t break ground until December. The project got off to a fast start: More than half of the building was reserved with in two weeks.

Similarly, at SLS Brickell, all 450 units were reserved for within a month of the sales launch. [Daily Business Review] – Jennifer White Karp