- Posted on March 27th, 2014
Miami’s ever-changing skyline.
Miami High Rise Condos
The number of Miami high rise condos that have been built over the last 15 years is astounding. It is unprecedented in the history of Miami real estate development.
The highest concentration of these high rise condos is in the area that spans from Aventura and Sunny Isles down to Brickell and Downtown Miami.
Over the decades, Miami has evolved from a sparsely populated city to a very dense coastal area.
How Fast are Miami High Rise Condos Being Built?
Looking at the number of condos that are available for sale or those that have closed over the same period of time can give a good approximation of just how much has been built during that time period.
I say, “good approximation” because most buildings have between 3 and 10% of their condos available for sale at any point in time. There also is no significant difference in percentage of units for sale between newer and older condos.
A full blown study counting condos per building by 15-year periods would be interesting, but we sell real estate and not reports.
Percentage of condos built by 15-year time period
In the graph, you will find that nearly 2 to 3 times more Miami condos were available for sale or had closed transactions in the past 15-year period than any other similar period of time in history.
This is astounding, though not surprising if you have seen the number of cranes and new buildings that dot Miami’s skyline.
Dive down I-95, take the Golden Glades overpass and look towards Aventura and Sunny Isles; it is a different place. While returning from Key Biscayne at dusk, look at Brickell and Brickell Key right before the William Powell Bridge. The lights are mesmerizing.
Look out at Downtown Miami from any building in West Av in Miami Beach and you will see just how much has changed.
To work with Andres, your experienced luxury realtor, and Constec Realty Services, an established real estate agency that specializes in luxury Miami real estate, contact us now.
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