I just took a quick look at the number of condos sold in South Beach for each of the past 3 quarters and as you can see from the graph below, sales have been increasing slowly, but steadily. There are several buildings where prices have increased over the same time period. While there are still plenty of great deals out there, the days of getting a South Beach condo for free are pretty much gone. Lots of buyers are still looking for that “once in a lifetime deal” and while they will continue to look, savvy buyers will be gobbling up all the good deals.
Remember, you will never be able to exactly time the bottom of any market. As far as purchasing South Beach condos, I think you’ll be hard pressed to find a better time than now ! What are you waiting for ?