Miami “is the U.S. real estate’s canary in the coal mine,” according to Barron’s, and it’s signaling a glut of condos that will likely lead to lower prices and tempting opportunities for buyers.

In addition to numerous new builds — an estimated 47,962 new condo units in projects across Miami-Dade and South Florida are in the works — a growing number of secondary-market condos are becoming available for purchase.

Data shows about 14 months’ worth of supply is currently available in Miami, an increase of 20.4 percent in a single year. “To that supply,” Barron’s noted, “you have to add the wave of new construction coming on-line.”

With such increased availability, signs of a distressed market are cropping up. Developers have doubled local brokers’ commissions to 10 percent to incentivize aggressive selling. They’ve also significantly reduced the down payment for buyers purchasing as-of-yet built condos — developers who previously required a 50 percent deposit at the start of the condo boom in 2011 are now asking for as little as 25 percent. Some even feature a two-year leaseback guarantee.

Perhaps most telling of a changing condominium landscape is the plight of the H3 Hollywood condominiums, a luxury condo build in Hollywood: developers abandoned the project after 13 of 15 floors were completed. Though currently active again, the project sold in foreclosure this April, and will now hit the market as rentals according to The Real Deal.

Experts at real estate investment platform StatFunding presented three options for consideration: New construction prices will come down, resell prices of older condo units will rise to meet in the middle, or prices will fall across the board.

Currently, both new builds and older units are selling at lower prices with brokers pocketing commissions of 6 percent in two examples provided by Barron’s. That fall will continue, posits Barron’s, noting that peak time for buyers will likely begin next year.