South Florida condominium sales double since 2000, report says

SOUTH FLORIDA -- July 8, 2004 -- Sales of new and converted condominium units in South Florida -- Palm Beach, Broward and Miami-Dade counties -- have nearly doubled in the four-year period from 2000, a new report from Integra Realty Resource shows.
 
Sales of new units jumped to 10,641 from 5,727 in 2000, the highest number since 1988, Integra said. The record is 25,797 sales in 1981.
 
The leader in South Florida condo sales last year was Jorge Perez's The Related Cos. of Miami, which posted sales of $350.9 million. Related sold 470 units with an average price of $746,597, the report shows.
 
In Palm Beach County, WCI Communities Inc. led condo developers last year with $131.1 million in sales. Its 117 units sold for an average price of $1.12 million. WCI's local projects include the pricey One Watermark Place in West Palm Beach.
 
The average price of all condos sold in Palm Beach County last year was $317,692.
 
The Palm Beach Post, Linda Rawls, July 8, 2004





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