More than 2,500 socialites gathered last month for a series of condominium building launch parties, where the free-flowing liquor, Grammy-winning recording artists and glitz-filled atmosphere evoked memories of 2005.
The festive events belied the current turbulence in South Florida’s weary real estate market but pointed to an intriguing reality: Even in today’s economy, some condo buildings are posting respectable, even strong, sales figures.
The marketing minds behind the lavish soirees at projects like Ios on the Bay and Trump Hollywood are hoping the buzz created by the booze-filled bashes will help them join the elite ranks of those towers out-selling the competition.
According to sales figures released Wednesday, buyers are snapping up South Florida’s discounted condos at a pace that’s also reminiscent of 2005, although prices are considerably lower, and still on the decline.
There were 1,262 sales of previously owned condos in Miami-Dade County in January, up 134 percent from the year before, the Miami Association of Realtors reported Wednesday. In Broward County, 1,318 condo sales represented an increase of 27 percent from January 2010. Both figures are the highest sales totals in the last five years.Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today
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