This is our 2015 Brickell Real Estate Report, covering Brickell, Downtown and Edgewater. It is the most in-depth report of its kind ever published and will advise you as to whether you should buy, hold or sell your condo in Brickell, Downtown or Edgewater. This 16-page report covers the resale and pre-construction market. Please call or email me (David Siddons) for a more personalized chat: +1 305 508 0899 or email@example.com.
Brickell Real Estate Report 2015 – A complete review
In the first half of 2015, we still saw a continued focus on buyers coming in and seeking out pre construction condos to buy as well as seeing a strong appetite for resale units. Although there was an element of hesitation, we still felt a degree of bullishness across the market. The second half of 2015 has felt decidedly different. With a number of South American economies taking a big hit on their currencies, feedback from buyers and sellers has been that the Brickell market was getting too saturated with inventory and the supply demand curve took a shift. The result has been that the buying market appetite for pre construction and the purchase of resale units has slowed. We have even started to see signs of average price per Sq.Ft correcting in some sectors.
What are the general words on the Brickell real estate market?
There is now an average of 22 months of inventory in Brickell; a balanced market is around 6 – 9 months. Given the vast number of new pre construction units entering the Brickell market in 2016, this number will likely rise. The price per sqft at which they have been sold and will likely be resold will be heaviest in the $550 – $600 per sqft range.
Our advice to condo owners (taking into account the size and number of bedrooms and bathrooms) is if you own a unit where you estimate your value is $550 per sqft or over – SELL. For those at $400-$500 per sqft potentially HOLD but be careful. If you want to BUY in Brickell focus on product under $400 per sqft for the best investment value. The price per sqft sensitivity is definitely something to be aware of.
What happened in Brickell in 2015
What’s new in Brickell and Downtown Miami
What to consider when buying a Brickell or Downtown condo
2. What is the best New Construction Condo in Fort Lauderdale?
In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.
3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami?
Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!
WHY WORK WITH DAVID? THINGS YOU SHOULD KNOW...
For all our analytics we are agents driving some very unique and advanced tech. We Provide a granular and custom experience that empower our clients with the insight and tools to understand the most complex behaviors of any local markets.