Published by Peter Zalewski
9/28/2024 
11:20:41 PM 
Volume 2024, Issue 35 (Subscribe here)
This week’s Miami Condo Market Intelligence Report™ newsletter examines whether the last full week of September will ultimately be viewed as an inflection point for the South Florida condo market.
Time will tell if we just experienced a pair of actions that together constitute a Black Swan event, which is defined as “an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences,” according to Investopedia.
Not only did Category 4 Hurricane Helene cause an estimated $15 billion to $26 billion in damage – with a significant portion of the destruction in Florida – this week but a waterfront condo project called the Springbrook Gardens was declared “unsafe” in Fort Lauderdale Beach.
Condo Market Inventory Tracker
A Snapshot Of Tricounty South Florida Region Of Miami-Dade, Broward And Palm Beach
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 24,016 | 10.2 |
| Luxury Condos | 3,740 | 15.1 |
| Shortsales | 30 | 15.0 |
| REOs | 126 | 6.6 |
| Rentals | 21,476 | 3.9 |
Peter Zalewski is a licensed real estate broker and consultant focused on the South Florida condo market. Zalewski is a former special contributor to the Miami Herald and a former real estate columnist for The Real Deal magazine. Zalewski now hosts the Miami Real Estate Investing Podcast that is available in audio and video wherever you get your podcasts.
Confused about whether it is the appropriate time to buy or sell a condo in South Florida? The experts at CVR Realty are here to assist you in crafting a strategy during this uncertain time. Unlike many brokers offering services, our organization has been through the cycles and can assist you to capitalize on the situation.
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