76% of All Miami New Condo Units are Sold

76% of All Miami New Condo Units are Sold

Since mid 2011 a grand total of 19,534 new condo units were built, are under construction or are already inhabited. This number include all new units in Brickell, Biscayne Corridor (Edgewater, Wynwood, Midtown, Design District, Omni), Downtown Miami, The Beaches (South Beach, Miami Beach, Surfside, Bal Harbour, Bay Harbor Islands, North Miami Beach, Sunny Isles Beach, Hallandale, Hollywood Beach), Aventura, Coconut Grove and Key Biscayne.

As of November of last year, only 24% or 4,633 remained unsold.  The average yearly condo inventory absorption from 2012 to 2016 is 2,297 units per year.  By 2018 all new constructions units should be sold at the same average absorption rate.  The information was provided in the 2016 Miami Report by ISG.

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