March 2013 Brickell Condo Update

April 9th, 2013 Written By

The March 2013 numbers are in! Where possible we’ve compared them with March 2012 to show trends. The total value of all sales soared. Have a look:

Brickell March Update

Yes, there were 15% fewer sales this March compared to March of 2012. The gains in all of the other statistics are incredibly impressive. The Brickell market in total is gaining more and more value and sellers are becoming bolder with their listing prices, even with financing options still tight. There is a lot of cash available. I was discussing this with another very successful broker recently and her opinion is that there was a lot of cash on the sidelines during the election period and frankly, no matter who won, it needed to come back into the market and it has. In a very big way.

Average List Price and Average Sale Price are both up over 60%. This shows that sellers are getting the gains they are after. Average Days on the Market is down 20%. Another month of a sure sign that the market is strong and then inventories are down. This also causes the Average Price Per Square foot to go up. In the case of March, it’s up 22% year over year. More great news for sellers.

If you have been reading our Blog you will also recognize that in February there were 605 condo units available for sale and one month later there are only 595. It will be at least another year before we see any resales of the new buildings going up. 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.

*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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