Condo Market Report- Q1 2021- Paramount Bay, Marquis, and 900 Biscayne

Last year was a buyer's paradise in South Florida. Single Family Home and Condo inventories were high across the board in Miami Dade, Broward, and Palm Beach counties. As COVID-19 impacted our lives condos lost their appeal, demand for single family homes spiked, and over the course of several months single family homes became a seller's market. About a year ago I went onto YouTube and announced to buyers this great opportunity to buy condos.

Some of the best buildings in Edgewater along Biscayne Bay and Park West in Downtown such as Paramount Bay, 900 Biscayne, and Marquis saw 2 bedroom condos dip into the mid $500K range and 3 bedroom condos dip into the mid $800K range. Single family home inventory has dried up. Record numbers of people are moving to South Florida from New York, California, and other high tax states. Miami is being dubbed "Wall Street South" as forms such as BlackRock and Goldman Sachs put down roots and "The New Tech Startup Capital of the US" with emerging tech startups such a Reef Technologies in Brickell Key . Miami Mayor, Francis Suarez has contributed to the movement by placing a billard in Silicon Valley encouraging Tech Startups to move to Miami. As a result condos are once again gaining popularity.

If you are looking to buy interest rates are still very low and compared to 2014 prices, condos are still a great deal. Condos offer proximity to parks, the ocean, and the bay along with amazing views, amenities, and modern design including large balconies and floor-to-ceiling glass doors and windows.

If you wanted to sell in the past, but were waiting for prices to rise, let's talk. Last year, during a very challenging seller's market I developed proprietary tools for selling real estate. I achieved record sales in multiple building in terms of price and speed. As demand is rising, I can put your property in the optimal position to sell quickly for the highest price.