On Brickell Key Condo Market Category

Brickell Key Condo Market Update

November 5th, 2013 Written By

Brickell Condo Blog | The Riley Smith Group

We received an email recently from a buyer who is interested in purchasing a condo as an investment on Brickell Key.   He is from out of town and could not believe how much prices had risen from 2 years ago when he last looked at investing on Brickell, particularly for 3 bedroom units.    Now he is ready to act quickly before prices go up any further. Take a look at the chart below which gives you a quick snapshot of...Continue Reading!

Brickell Key, Did You Know?

September 25th, 2013 Written By

Brickell Condo Blog | The Riley Smith Group

Brickell Key is a private island located at the mouth of the Miami River and is home to more than 2,000 condo units.  Many people don't know that the history of Brickell Key began more than 100 years ago. In 1896 Henry Flagler, a key figure in the development of the east coast of Florida had a 9 foot channel dug out at the entrance of the Miami River.  In doing so, he created two small islands.   These islands were purchased...Continue Reading!

Brickell Key Condo July 2013 Market Update

August 5th, 2013 Written By

Brickell Condo Blog | The Riley Smith Group

Prices and Sale Price per Square Foot continue to climb year over year, but the number of sales in July 2013 is much smaller than in 2012. Inventory of available condos on Brickell key is 110. Just one more than in June. It seems that the number of sales in July are a direct relation to the number in June. June was double the previous year, and July is almost half. This is why we look at trends, because there are so...Continue Reading!

Brickell Key Condo May 2013 Market Update

June 5th, 2013 Written By

Less inventory means fewer sales. But the values continue to climb on Brickell Key. Here are the numbers for May 2013: Criteria                                              May '12         May'13            % Change Number of Closed Sales                       20                     15                        - 25 Average List Price                           $605,625           $732,333                  +21 Average Sale Price                          $561,550           $686,867                 +22 Average Sale Price/Square foot       $361                    $444                      +23 Average Days on the Market             207                       113                     - 45 Total Value of all Sales                $11,231,000        $10,303,000               - 8 Inventory is is slightly up in May from 108 to 111 condos actively for sale on Brickell Key. One...Continue Reading!

Brickell Key Condo April 2013 Market Update

May 6th, 2013 Written By

Brickell Condo Blog | The Riley Smith Group

Property values on Brickell Key continued to climb in April. As usual, even more than Brickell in general. Here are the actual numbers: Inventory is down in April from 112 to 108 condos actively for sale on Brickell Key. Pending Sales are also down from last month. 56 in April versus 60 in March. The most expensive condo for sale on Brickell Key is still a five bedroom unit at ASIA for $9,000,000. The least expensive is one bedroom at Brickell Key II for...Continue Reading!

Brickell Key March 2013 Condo Update

April 11th, 2013 Written By

Brickell Condo Blog | The Riley Smith Group

If you have been following our blog, you may be saying to yourself, “How high can it go?”.   That's exactly what we are saying. Month after month we are seeing double digit increases in listing prices and sale prices.  In fact, Brickell Key condos are selling on average for approximately 95% of list price.  But the number of days on the market has increased slightly since March of last year. What does it mean? It means that it is a...Continue Reading!

Brickell Key Condos For Sale

March 28th, 2013 Written By

Brickell Condo Blog | The Riley Smith Group

There is a perception that living on Brickell Key is unattainable for many because of price. We've had many customers tell us as they are beginning their search for a condo in Brickell, “Well I’d love to live on Brickell Key, but I’m sure its not in my budget.” Nonsense. Brickell Key is a 44 acre, man made island located just east of Miami’s financial center, Brickell. It’s a gated, self contained paradise for many with eleven condominium buildings, Miami’s Mandarin...Continue Reading!

February 2013 Brickell Key Condo Market Update

March 8th, 2013 Written By

Brickell Condo Blog | The Riley Smith Group

Yesterday we published the February numbers for all of Brickell and we know many of our readers want to see Brickell Key broken out on it’s own. In so many ways Brickell Key really is it’s own Island and economy.   Where possible we’ve compared them with February 2012 to show trends.  Everything is up.  Really up!  Except Inventory and Average Days on the market with are both down.  The squeeze is on.  Have a look: The numbers speak for themselves.  The...Continue Reading!

Brickell Key One Unit A1715 – Great All Around

February 26th, 2013 Written By

Brickell Condo Blog | The Riley Smith Group

Sometimes a condo is a great buy because of the price.  Unfortunately that usually means it will require some renovations and work.  Sometimes a condo is beautifully designed and decorated.  When this is true, it's never just how a buyer would like it and so then it seems overpriced because some of the work has to be "undone".  Sometimes it just the location that makes a property a must have.  It's rare that a condo comes on the market that...Continue Reading!

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