Brickell Condo Sales Report – November 2016

Brickell November 2016

Welcome to our November sales report for Brickell. This report covers every sale in Brickell during November 2016. Our reports take pleasure in including all the sales of each individual building in the area. If you’re interested in a personal copy or would like an extensive report on any of the featured developments call us today at 305-305-3885 or send us a message here. Don’t see your community? Let us know and we will have it featured for you! The properties seen here were listed and sold by various South Florida MLS participants from November 1st to November 3oth, 2016.

Holiday season is upon us! The buildings of Brickell Ave, already gleaming with its seasonal decorations, show that Miami is more than just palm trees and sand. Despite this, our weather continues to remain warm, leading some of our younger members in the city to wonder whether winter even exists here. Am I complaining? Absolutely not. Some may call the lack of cold mundane or disproportionate. Personally, I think it’s the opposite. But since I enjoy spending most of my small amount of free time at the beach, some may find my views a bit biased at best.

Despite our warm temperatures in the air, the same can’t be said with our current condo inventory.

Looking at the numbers overall, Brickell’s November 2016 trends shows a wide degree of frost in its thermometer. Despite the fact that there were 42 sales and great overall consistency, the amount of supply, at 41 months,  is still much higher than our current demand. The average list/sale price ratio continues to trend downward, currently at 87% while average days on market are still beyond 100+ days. Winter is here and even if we don’t need to wear sweaters, you can feel the chill.

Most importantly, however, is the average price per sqft. Based on the numbers right now, we’re currently at an average of $372/SF which is approximately 10% less than what we saw last year. With this number in mind and with more listings beginning to adjust their prices, I wouldn’t be surprised if I saw a wave of new buyers coming back, hoping to find a deal. We may begin seeing this as early as the first quarter of 2017.

If you’re a Seller that’s looking to put your unit for sale, be prepared to:

  • In most cases, wait longer than typical to sell
  • Face competition among other listings in the same building and others as well
  • Price your unit correctly from day one

Please see the table below for the breakdown in sales (buildings with no sales for the month are not included on the list, better luck next month!)

November 2016 Sales Report – Brickell

Total Transactions: 42

($) Volume:$19,295,688

Highest Priced Sale: Jade Residences #3307 – $1,647,000

Jade Brickell November 2016
A 3 bedroom upgraded unit at Jade was Brickell’s highest priced sale in November

 

Building NameList Price# Beds# BathsUnit #Sale Price
Jade Residences$1,855,00033#3307$1,647,000
Carbonell$1,250,00022.5#3007$1,182,500
Three Tequesta Point$885,00022.5#3905$822,000
Atlantis$749,00033#303$695,000
Brickell Key II$740,00033#1523$650,000
Carbonell$699,00022.5#509$560,000
Icon - W Miami$660,00022#2310$635,000
Imperial at Brickell$660,00032.5#2504$640,000
Conrad$649,95022#3308$615,000
The Palace$627,00022#A1602$565,000
The Palace$615,00022#B2303$575,000
Icon Brickell$595,00022#4615$551,000
Courvoisier Courts$545,00022.5#2104$515,000
Imperial Condo$519,00022.5#2506$500,000
Atlantis$495,00022#2005$475,000
Commodore Bay$489,00022#4024440,000
Brickell Forest$449,00022.5#107-D$400,500
Two Tequesta Point$439,00011.5#2007$432,000
500 Brickell$425,00022#3207$410,000
Brickell Biscayne $416,00022#10A$400,000
500 Brickell$404,00022#1807$385,000
My Brickell$399,99922#1501$398,000
Infinity$399,50023#3026$385,000
The Mark$399,00022#201$387,000
500 Brickell$398,00022#4201$394,000
500 Brickell$379,77722#2002$379,000
The Metropolitan$329,00011#2103$300,000
Bayshore Place$327,00022#1404B$320,000
500 Brickell$315,00011#3606$295,000
Brickell On The River$310,00011.5#2214$299,500
The Plaza On Brickell$307,30011#1902$280,000
Brickell On The River$302,50011#2505$288,000
Neo Vertika$295,00011#405$250,000
Vue$295,00011#2109$268,250
Neo Vertika$294,90011.5#2507$282,000
The Sail$290,00022#2304$313,799
500 Brickell$285,00011#3708$270,000
500 Brickell$279,77711#2406$260,000
Brickell Key II$269,00011#1614$253,000
1060 Brickell$265,00001#4109$245,000
Latitude On The River$179,00001#2106$174,000
Four Ambassadors Condo$167,80001#1023$159,139

Get ready for our end of the year sales report coming soon! We will be doing an overall breakdown on how 2016 was for Brickell and Downtown as well as what to expect next year. It will be a must read for anyone looking to buy or sell in the area!

Last but not least, 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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