MIAMI-CB Richard Ellis gave GlobeSt.com a sneak peak at its yet-to-be-released South Florida Multi-Housing Market Update. The overarching conclusion: conditions continue to improve.

Indeed, in 2010 the South Florida multihousing market rebounded with over $1.8 billion in sales, which was more than triple the activity in 2009. Improving market fundamentals, low interest rates, and a mound of private and foreign investors significantly spurred sales activity throughout the region, according to CBRE’s Multi-Housing Private Client Group in South Florida.

“The market has picked up,” Calum Weaver, co-chair of CBRE’s Private Client Group, tells GlobeSt.com. “South Florida multifamily sales last year are up 300% over the year before. The cap rates for class A assets have come down significantly and we are starting to see improved fundamentals on the B assets as well.”