Brickell on Figures

This Blog has been intended to show how the Condos Real Estate Market on Brickell has been doing since the past year, this graphics will illustrate the overall of the Brickell's Condos Real Estate Market and its behavior from February 2013 until February this year. Brickell is in a new Investors BOOM and its worth to take some time to see how this market has being doing on the past year, to know where it is heading. 

  • In the last year the tendency for Closed Sales in the Brickells Condo Area is to remain steady, except for February this year when the quantity of closed sales on condos fell 51% on a month to month variation as a consequence of the tightening of the residence inventories on the Real Estate Market. 

 

  • The average days on the market have an erratic pace, with months like Sep-13 reaching a very low average days on the market when compared to Apr-13 and Feb-14 that reached the highest average of days on the market, an explanation for this is that we have to remember that there are still sales consequence of the real estate crisis that hadn’t been closed till now.

 

  • Sale prices are always on an average of 5% below the listing prices, except for august when the sale price was on an average of 8% below the listing price.

 

On an overall analysis we have to consider that the market is on a recovery path, and that it has advanced quite a long way since the crisis in 2008, evidence of the recovery are the new developments that will be constructed in Brickell, like Echo Brickell, The Bond, Brickell Heights, 1010 Brickell, and Le Park, meaning brand new investments on the area including developers from Manhattan. Investments that are worth around 31% percent more than the already existing properties on Brickell, on this last year the price per square feet on a condo in Brickell has been $421 per sq. ft., the new developments are being sold for $550 and up per sq. ft. giving the investors an opportunity to own a condo that will ensure a return on their investments. 

This developers are trying to bring to Miami the "Glamour" and "Luxury" that Manhattan means. Brickell is having an exponetial growth and now is the time to invest on condos on the area, cause Brickell will run out of space for more buildings making it a warranty of a price increase on your investments in the future.