Foreclosures Surpass Short Sales On Brickell During 2014

January 16th, 2015 Written By

Brickell

Despite record setting prices and high demand for Brickell condos during 2014, there were still a significant amount of distressed units sold throughout the year. In fact, there were approximately 75 foreclosures out of 700 total condos sold.  The average foreclosure closed for $327/square foot or $325,000.

The number of short sales dropped significantly in 2014 with just 16 closed.  This says a lot in terms of the health of the market because during 2013 there were over 70 short sales closed.  The average short sale sold for $350/square foot or $368,000.

This year a great short sale property closed for just $360,000 at The Mark on Brickell.  Unit 2609 was a 2 bedroom, 2 bath unit with bay views and 1,140 square feet of living space. There has also been one foreclosure sold so far in 2015.  Unit 1406 at Courvoisier Courts on Brickell Key was a 2 bedroom, 2.5 bath with 1,288 square feet of living space and closed above asking price for $435,000.

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 305-960-5318 or send us a note here. 

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