April 2013 Update For The Brickell Condo Market

May 3rd, 2013 Written By

The April 2013 numbers are in! Where possible we’ve compared them with April 2012 to show trends. It may sound like a broken record, but the gains are still impressive, even after an incredible month like March. Have a look:

April Brickell

If you have been following our Blog you will also recognize that in March there were 595 condo units available for sale in Brickell. Now as of April 30th, there were 612. This is noteworthy because it the the first time this year that there was actually an increase in available inventory from the previous month. We’ll have to watch this to see if it becomes a trend. We believe that values in many buildings have now reached or surpassed the point where owners who bought high and have been underwater are now at a point where they can consider selling and are listing their properties for sale. Our opinion is that this trend will continue and we will see a more steady stream of inventory, especially in the buildings built between 2007-2009.

If indeed this is the case, we should see steady growth in values over the next 12-18 months, but not the percentages that we have seen in the past year. This is good news for buyers and seller.

It will be at least another year before we see any resales of the new buildings going up. Another new development, The Bond in Brickell was announced this week. The Bond will be located at 1080 Brickell Avenue and span the space between Brickell Avenue and South Miami Avenue. We’ll be writing more about The Bond soon.

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. 

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