Condo Boom Town: Median Presale Price Reaches $725 PSF In South Florida

Rendering of Crimson Residences on Biscayne Bay
 Downtown Miami, FL

MIAMI, FL -- Developers are betting on a monumental comeback of the South Florida condo market by asking a median presale price of $725 per square foot for the thousands of preconstruction units currently proposed for the tricounty coastal region of Miami-Dade, Broward, and Palm Beach some seven years after the dramatic real estate downturn of 2007, according to a new report from CondoVultures.com.

Peter Zalewski

Preconstruction condo prices in South Florida range from less than $250 per square foot to nearly $2,650 per square foot with a mean price of $960 per square foot, according to a new survey of the nearly 50 projects that are currently preselling units.

On a county-by-county basis, the mean price for a preconstruction condo is more than $1,060 per square foot in Miami-Dade, nearly $575 per square foot in Palm Beach, and less than $500 per square foot in Broward, according to the report.  

A list of the pre-construction condo project prices will be distributed during a lunch presentation by real estate consultant Peter Zalewski of Condo Vultures® LLC on July 30, 2013 in Greater Downtown Miami.

The event - but not the research - is sponsored by the mckafka Development Group, which is building  the proposed Crimson Residences On Biscayne Bay condo tower in Downtown Miami's Edgewater neighborhood.

(For information on attending the luncheon, call 305-377-3337 or send an email to Crimson@Baker-CVR.com.)

  For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC

225 Midtown Building

225 NE 34th St.,

Suite 209B,

Downtown Miami, Florida, 33137.

1-800-750-0517.