Still too early to make a proper assessment on the South Florida real estate market due to Covid-19, the early indicators for condos are what anyone would anticipate after a lockdown. Adding to these new challenges, the majority of condo buildings do not allow access for non-residents.
Looking at the $1m and up property market for Miami-Dade County, I’ve isolated Miami’s condo market for April 2019 to April 2020 with the graphs and statistics found below.
Miami-Dade County CONDOS $1m+
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“Homes will do better in terms of condos because there’s an oversupply of condos and buyers are looking for homes with low density. I’ve gotten several calls from northeastern buyers saying they were thinking of a condo before the pandemic but then decided to buy a single-family home.”– Miami Herald
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