DENVER — The real estate industry is in a frenzy to cash in on the summer’s hottest property in Florida.
A sale is underway for a condo at 16th and E, where the property was listed in February for $2 million, according to a listing on Realtor.com.
The condo is located in the former U.S. Air Force base at the corner of E Street and South Broadway.
It’s one of the most expensive condos in the country, with a $1.4 million asking price, according the listing.
The property is also listed for $1 million, and the sale is scheduled to take place Wednesday, July 12.
The condo is also on the market for $5.7 million.
The sale is the first in a trend for the state of Florida to see more expensive condos come on the scene.
Florida real estate has been the hotbed of the real estate market this summer, as many buyers look for a property to help them build their home or to pay down debts.
The trend has caused an upswing in prices.
The average price for a single-family home in Florida increased 3.8 percent to $724,838 in August from a year ago.
The median price for single-families went up 5.3 percent to about $822,000.
The increase in prices has prompted some buyers to look elsewhere, including in Georgia.
A Georgia real estate agent recently sold a condo for $3.2 million in Gainesville, Georgia, for $4.5 million, the Atlanta Journal Constitution reported.
Georgia is known for its popularity with buyers looking to build a home.
The state has one of America’s most affordable housing markets.
The housing market in Georgia has seen a slight increase in home sales in recent years, though the number of new listings has remained relatively flat.