Positive Signs For The Imperial At Brickell | 5 Year Trend Report

December 10th, 2012 Written By

Today we continue our analysis of Brickell Condo Buildings and how they are performing as investments.  Here is a look at the past five years of sales at 1627 Brickell Avenue also known as the Imperial at Brickell:

Year # Closed Sales Average Sale Price/Square Foot Average Days on Market
2008 3 $287 198
2009 7 $230 100
2010 9 $230 170
2011 13 $227 132
2012* 17 $287 159

There are many conclusions that can be drawn from the data. The Imperial at Brickell, like many buildings in Miami, went through a period of turmoil with units going into foreclosure, being sold short and taking a long time to sell because financing requirements have gotten much more strict.

As of today the Imperial at Brickell seems to have stabilized as a building and as an investment. Sale price per square foot has returned to the level that it was at 5 years ago after taking a 20% hit and bottoming out at the end of 2011.

Current Status of condos in the Imperial at Brickell:

  • 5 condos for sale out of 162 – less than 3%. It is definitely a seller’s market within the building
  • No condos are currently under contract and waiting to close
  • None of the condos for sale is a short sale and there are no foreclosures

*2012 data is through 12/6/12. All information is from the SEF MLS.

We are analyzing the data for all of the buildings in Brickell. For an advanced or more detailed look at any building, please contact us directly here.

Want more news about the condo market at The Imperial? Click here.

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