Understanding Summer Condo Downturn In South Florida Focus Of Nov. 13 Meeting
Expert Peter Zalewski of the Miami Condo Market Investing Club™ will host a 75-minute online meeting on Wednesday, Nov. 13, 2024, to discuss the 22 percent drop in summer sales.
As South Florida prepares for the Winter Buying Season to ramp up, industry watchers are working to figure out where the condo market is headed after a dismal summer.
South Florida condo sales dropped by 22 percent during the Summer Buying Season of May through October 2024 to levels last seen in 2009 during the Great Recession.
Added to this, the sector is already reeling from the rapidly approaching 2025 Florida Condo Association Financial Cliff resulting from the Surfside condo collapse.
To assist the Florida unit owners, investors and real estate professionals to better understand what they are facing next year, Miami condo expert Peter Zalewski will discuss the changes at the seventh Monthly Meeting of the Miami Condo Investing Club™.
Zalewski - who is a former business journalist, Wall Street consultant, expert witness and licensed Florida real estate buyside broker - will also share the latest information gathered from interviews and research conducted with professionals who manage, maintain and oversee condo associations.
Some of the topics and questions that will be addressed include:
What is the outlook for condo prices in South Florida?
Why did South Florida condo sales plummet this summer?
Condo Cliff v Great Recession?
How can condo associations guard against panic selling?
Why are condo associations refusing to comply with the 2025 deadline?
The online event is scheduled to start at Noon (EST) on Wednesday, Nov. 13, 2024, and be followed by a 15-minute Questions and Answers session beginning at 1 PM.
A video copy of the presentation will be available for viewing afterwards.
The Monthly Meeting is exclusively for Club members. If you are not yet a member, you can join the Club on a monthly basis for $34.99 with this link.
A link for the event will be posted at the bottom of this report behind the paywall at 9 am on the day of the Monthly Meeting. A link will also be emailed to subscribers on the Tuesday night before the Monthly Meeting on Wednesday.
The objective of the Club is to create a community that shares realtime, actionable information on the latest real estate trends, opportunities and service providers in South Florida,
Besides real estate professionals, developers and lenders, the Club is also ideally suited for Do-It-Yourself (DIY) condo buyers who can utilize our latest statistics, expert opinions and access to consulting services.
All of the Club’s preferred vendors have also been invited to the event, including:
Veteran title expert Clarita Rosa of Miami-based Candor Title & Closing Services;
Permit and planning expert Anne-Christine Carrie of Miami 21 Zoning & Entitlements;
Construction contractor Andres Alvarez Murcia of 3A Quality Services Construction And Remodeling;
Wholesaler Jose Suarez of Global Inventory Liquidators;
It is worth noting that all of the Club’s Monthly Meetings are scheduled to be held at Noon (EST) on the second Wednesday of every month throughout the year. Here is the schedule for the remaining Monthly Meetings in 2024:
Besides access to all reports, charts and Monthly Meetings, the Club also hosts regular MeetUp events for members to talk shop, pitch their services and discuss the latest trends they are witnessing in the trenches of Miami’s volatile condo market.
The third MeetUp event is scheduled from 5.30 pm to 8 pm Tuesday, Nov. 19, 2024, in Greater Downtown Miami.
As with the Monthly Meetings, the Meetup events are exclusively for members of the Miami Condo Market Investing Club™.
We crunch a lot of statistics each week and then publish the results byway of a series of reports posted on MiamiCondo.Club.
If you want the reports emailed to you, just sign up for the Miami Condo Market Intelligence Report With Peter Zalewski™ newsletter at: MiamiCondo.Club
Additionally, we encourage you to listen or view our podcast wherever you get podcasts. The podcast is available on Apple, Spotify and/or YouTube.
As a reminder, we are always available for consulting, expert witness work and buyside brokerage services just as we have been since 2006.
If you are seeking information on condo resales in South Florida, please visit CondoVulturesRealty.com or call the office at 305.865.5859.
This information is provided for general informational purposes only, based on research, personal experience and interviews. It should not be considered legal advice, as we are not attorneys. While believed to be accurate and complete, this information is provided "as is" without warranty or guarantee of any kind.
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