Miami Condos, Miami Real Estate

Miami Real Estate Market, Miami Condos

We are already aware that South Florida and the Miami condos market is in a slump, but some buildings are managing worse than others.

fallen by at least 75% since peaking, bringing on huge financial losses for some owners and lenders.

According to a new analysis of first-quarter sales from Miami condos research firm CondoReports.com in a ranking of the 10 worst-performing projects, Keystone Towers in North Miami topped the list, with unit prices dropping 81 percent since peaking in 2007.

Sales in Keystone Towers which was converted to condominiums during the boom peaked in 2007 with 20 units selling for an average of $334 per square foot. The price had fallen to $62 per square foot, at the end of March.

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