Miami Condo Sales a Notch Above Dismal

Could Miami's condo canyon be filled with people at last?

The Miami Herald reported Sunday that there were some bright lights in the once darkened multimillion-dollar condos that line Biscayne Boulevard in downtown Miami. In fact, real estate agents are reporting that units are finally moving thanks to the recent price chops in condo prices, some by nearly half.

Newer buildings in the area have started selling units for $200 to $230 per square foot, when sellers were hoping to make nearly $100 more per square foot a year ago. Older units or resales go for about $180 per square foot.