A Saturated Luxury Condo Market.
Luxury Condos tend to take a longer time to sell, but the amount of South Florida inventory is out of control. According to Barrons.com, there are currently more condominiums being listed above $1 million than ever before, with over 55 months of supply. And it looks like things are going to get worse. About 10,000 new condominium units will be hitting the market within the next two years.