Report: Downtown Miami Condo Market Shifting

MIAMI—With the US dollar gaining strength against foreign markets, Downtown Miami’s condo market is shifting. Fewer foreign buyers are doing all cash deals or hefty deposits, but a growing demand among US buyers and capital markets is helping make up the difference. This continues the trend from last quarter’s report.

That’s according to a new report the Miami Downtown Development Authority (DDA) commissioned. The DDA’s Greater Downtown Miami Residential Real Estate Market Update reveals sales prices and rental rates are holding steady following two consecutive years of rapid price appreciation. One key takeaway: supply and demand dynamics are stabilizing.