Brickell Condo Market Update | October 2012

November 15th, 2012 Written By

Now that we are in November, we’ve had a chance to analyze the market data for October 2012 with a comparison where applicable to October 2011.  There are some amazing trends.  As you will see below, we are in a much healthier market compared to last year at this time. The number of closed sales is up 22% while the average sale price is down which reflects a much more balanced market.  This points to the fact that financing is more readily available now than 12 months ago.  Also supporting this is that condos are selling at an average price per square foot of $413, up 11.3% from last year.  And lastly, they are selling more quickly as buyers are more confident and have better access to funds.

A couple of other data points that we think are interesting:

  • 602 – The number of condos available for sale in Brickell today.
  • 141 – The number of $1,000,000+ condos for sale in Brickell.
  • $15,000,000 – The highest priced condo currently for sale in Brickell.  It’s a Penthouse at the Four Seasons Hotel and Residences.
  • $139,000 – The lowest priced condo right now for sale.  It’s a studio at the Four Ambassadors.

*Brickell is defined as the area South of the Miami River, East of 1st Avenue and including all of Brickell Avenue and Brickell Key.

We know the numbers and track the Brickell real estate market.  If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here. 

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