WEST PALM BEACH, FL-For all the talk of the next condo construction wave in Downtown Miami, it’s a much different story in nearby Downtown West Palm Beach. The affluent city has more than 60 months of new condo inventory left from the last South Florida real estate boom if the current sales pace holds out.

So says a new report from Condo Vultures. Only about 10 new condos per month traded in the first three quarters of 2011—and nearly 650 unsold developers units remain on the market. And that doesn’t include the more than 400 units investment groups acquired in bulk deals that haven’t been resold to individual buyers.

So what’s the difference between Downtown Miami and Downtown West Palm Beach? Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures, tells GlobeSt.com the difference is international buyers with strong foreign currencies.