Brickell Condo Market – The Latest Numbers

brickell latest

Our latest numbers are now in for everyone looking to get a competitive edge prior to buying/selling 🙂

It’s finally January, that magical time where everyone begins working on their goals for the new year is here. For some, the goal could be losing weight or gaining it with proper training. For others, it could be landing that dream job or finishing your schooling in order to begin looking for it. And last but not least, some of you might even be looking to finally buy that dream home or maybe sell it.

All noble goals designed to make this year the best one yet.

In a very similar fashion to last year, I’ve decided to write this post today in order to establish our expectations over the next few months. I hope this article can help provide an overall view of our local market, especially to those looking to make a real estate move at some point this year.  The graphs below include the latest on every zip code in the Brickell area.

 

Latest Numbers – Brickell

Brickell (zip 33129 33130 33131)


Condo/Coop/Villa/Twnhse
Curnt vs. Prev Month: For Sale 0.8% | Sold -11.6% | Pended 7.5%
Curnt vs. Same Month 1 Yr Ago: For Sale 4.5% | Sold -11.6% | Pended 9.6%
* This representation is based in whole or in part on data supplied by the Realtor Association of Miami, the Greater Fort Lauderdale Realtors, or the Southeast Florida Multiple Listing Service (MLS).

To no one’s surprise, January continues to reflect a buyer’s market throughout most of Brickell’s inventory. With just 60 sales, December proved to be the slowest month of 2016 in terms of total properties sold in a single month. Although pending sales did spike up 26.6% compared to its previous month, 81 pending units is still much lower when compared to the levels we saw during the summer of last year.

In other words, the vast part of the market continues to be of greater benefit to buyers, thanks in part to the variety of options available and higher negotiating power. Certain exceptions, however, may exist in some of the lower price ranges. 

Buyers who read this should take this note as a reminder to check comparable sales prior to placing an offer. This is particularly important if you happen to be a cash buyer and there’s no financing or appraisal contingencies.

For Sellers, my advice continues to be the similar to last year’s:

  • Price your unit accordingly (please keep in mind I said accordingly, not lower or higher).
  • Make sure your unit is being advertised correctly
  • Allow easy access for showings

We are dedicated to providing the best information about Brickell Real Estate. Call us today at 305-305-3885 or send us a message here if you’re interested in buying or selling in the area. Our local knowledge of the market, combined with our experience will enable us to provide you with the best possible results

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