EWM’s CEO, Ron Shuffield, was interviewed by the media for his expert opinion on the Miami Condo Market. Research shows that the condo market is turning around quicker than most expected it to. A recent study concludes that 74% of the 22,000 condos that have been built in the Downtown/Brickell area since 2003 are occupied and that an average of 350 condos are now being sold every month. There are also 295 condos a month being rented. Add the condos sold and rented per month by Realtors and developers, and we have about 700 transactions happening every month in the Brickell / Downtown area. This means that there are about 23 new occupancies a day!
There are many good deals in these condos. According to the Downtown Development Authority, there are 7,000 condo units (as opposed to the 8,000 units 8 months ago) that will be absorbed over the next 25 months.
Watch this video which aired on CNBC to see what else Ron Shuffield has to say:
[tomatoframe width=”650″ height=”1000″]http://www.cnbc.com/id/15840232?play=1&video=1442417191[/tomatoframe]
