mc² realty miami market blog www.mc2realty.com

In the last 6 months, buyers have been back in the Miami real estate market! Developers and banks are cutting their losses by lowering prices in order to move their inventory.
Condo sales jumped 200% in the last quater 2009 over 2008. Billion-dollar mega project The Icon has cut its prices up to 50%. Occupancy in downtown Miami is now 74%, which is a jump of 20% since may 2009. Half of the occupants are renters, and 40% of the buyers paid all cash for their condos.