“Miami Is The Condo Comeback Kid”

September 18th, 2013 Written By


If you follow the BrickellCondoBlog.com you know that condo prices are on the rise all over Brickell.  We have seen appreciating values and higher sales in all segments of the market here.  Yesterday, The Real Deal published an article about South Florida’s condo market which reinforces what we have been telling you for months.  The headline reads: “93 percent of last boom’s condos have sold…median prices appreciated 33 percent in a year…and more“.  Brickell condo sales make up a majority of these figures and it is extremely good news for current sellers.  It also gives potential buyers confidence that their investments will appreciate in the coming years.

Here are some of the highlights of the article:

  • 93: Percentage of the 23,000 condo units built in last condo boom that have been sold [The Real Deal]
  • 10,000: Approximate number of condo units that buyers pulled out of after the 2007 real estate collapse [The Real Deal]
  • 33: Percentage increase in the median price of condominiums from July 2012 to July 2013 [Miami Association of Realtors]
  • $1,060: Mean price per square foot for a pre-construction condo in Miami-Dade County, as of August 2013 [Condo Vultures]
  • $34 million: Price paid for two side-by-side penthouse units in The Residences at the Miami Beach Edition, making it the biggest condo sale in Miami-Dade County history [Forbes]
  • $55 million: Price of the “Palazzo D’Oro” penthouse at the Mansions At Acqualina, making it the most expensive condo listing in Miami [Curbed]
  • 15,772: The number of condo units in Miami-Dade that are in some stage of foreclosure or bank-owned [RealtyTrac]
  • 3,036: Residential units currently under construction in downtown Miami [Miami DDA]
  • 6,200: Additional residential units proposed for downtown Miami’s core Brickell and central business districts [Miami Today]
  • 830: Number of feet Florida East Coast Realty Tibor Hollo‘s Panorama Tower is projected to rise over Brickell Avenue when completed, becoming the tallest building in Miami and Florida [Miami Today]

Our knowledge of the Brickell condo market helps our clients make educated, confident decisions.  If you are interested in buying or selling, please don’t hesitate to contact us, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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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