Price Cuts, Sales Pace Slows, Banks Award More Aggressive Pricing
The latest Condo Vultures report on Downtown Miami condo activity shows sales slowed to an average of 2.7 a day in the second quarter compared to 5.2 sales/day in the first quarter. Three projects accounted for the majority of those sales: 1060 Brickell, Marina Blue and Brickell on the River's South Tower. Sales were so strong at 1060 Brickell (thanks to aggressive pricing cuts), the developer was granted a loan extension to April 2010. Of the 83 new projects downtown, Condo Vultures says 61 have sold 51% of their units while 36 have sold 90%.
0 comments:
Post a Comment