February 2013 Shows Strong Growth in Brickell Condo Market

March 6th, 2013 Written By

The February 2013 numbers are in!   Where possible we’ve compared them with February 2012 to show trends.  A short month with very strong growth.  Have a look for yourself:

Brickell February Market Update

The number of sales this February vs. last February is exactly the same.  Our initial reaction was skeptical until we started crunching the numbers.  Then things started to get very interesting.

Average List Price being up only indicates a Seller’s confidence in the market.  But when Average Sale Price is up 16% and Average Days on the Market is down 31%, it is a sure sign that the market is strong and that inventory is down.  This also causes the Average Price Per Square foot to go up.  In the case of February, it’s up 21% year over year.  This is terrific news for sellers.

If you have been reading our Blog you will also recognize that in January there were 629 condo units available for sale and one month later there are only 605.  If you are thinking of selling now is the time to get your property on the market.  If you are a buyer in the market and you see something you like, do not wait.

Interested to know how your building is doing?  Just ask us.  We have all of the numbers.

*Data provided by the SEF MLS

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.

The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.

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