Summer is definitely off season for tourists in South Florida. Â Tourists are gone, the hotels and beaches are quiet and traffic is flowing quite well.
However, Oceanfront Condo Sales Activity are not off season. Â There has been some serious buying activity going on this summer. Â One Bal Harbour, recently had 2 condos go to contract. Â Unit 609 Listed at $2,995,000 and Unit 1809 Listed at $3,395,000. Other notable transactions this summer have been the Penthouse at the Jade Beach listed for $11,000.000, The Continuum unit 1804 listed for $8,395,000 and the Penthouse at the Acqualina listed for $5,200,000.
It is expected that this coming fall and winter season Miami Beach and Fort Lauderdale Luxury Oceanfront Condos are going to continue to experience an increase in sales activity. Â I believe the summer activity is quite indicative of what is coming this season. Â The profile of many of the buyers that I work with are second or third home acquisitions that they plan on using periodically and keeping long term. Â There are many investors out in the market as well looking for long term appreciation.