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More than 1,000 new condos created or planned during the real estate boom remain unsold in Sunny Isles Beach. Even after buyers purchased 69 condo units during the peak of South Florida's winter tourism season - January through March 2011 - this unsold inventory remains.
Since the beginning of 2011, buyers are purchasing an average of 23 new condo units per month. According to Condo Vultures, if this pace keeps up the Sunny isles Beach new condo market has about 44 months of inventory remaining.
It's no surprise that Trump projects made up the largest percentage of new condo sales in the first quarter of 2011. The most active Trump project is Trump Tower III, which is selling an average of 11 new condo units per month. One contributing factor to the increased sales of Trump Tower III is the $9 per square foot price reduction that was implemented earlier this year.
Interested in owning your own condo in beautiful Sunny Isles Beach? Contact me to learn more about your options.
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