Neighborhood Economics for Brickell Condos – Quarter 1 2015

The Brickell Condo Market in a Nutshell

Get a quick overview of the Brickell Condo Market

See the Q2 − 2015 update

The Brickell Condo Market in a Nutshell – Read our quarterly report here with all the key market data to be quickly updated on the Brickell Condo Market

The neighborhood economics blogs are excellent to gather a pulse on the Brickell Condo Market as we provide the market’s key indicators. This blog focuses on the last 3 months of Brickell Real Estate Data and is updated every quarter. All Data are derived from the MLS South Florida

Data are given for Brickell Condos in the price ranges of:

$500,000 – $1M
$1M – $1,5M
$1,5M +

Summary of the Brickell Condo Market– Q1 2015

Brickell’s inventory is on the rise. Across all price ranges we see an enormous increase in listings and this has been a trend for the last 1,5 years. Because of the enormous influx of pre-construction units the market is getting oversupplied and the resale market has taken a hit.

Although the Brickell Market is a clear buyer’s market, prices have not seen a drastic decrease and remain stable

For those that own or are thinking of investing in Brickell ⇒ There is no direct need to panic or to avoid this market. We keep on telling our clients that the Brickell market is still selling units but, unlike before, not every single unit will be converted in a cash cow. In this market it is important to look at the investment value of a unit and the unit should stand out in the crowd.

Feel free to contact me for further explanation ⇒
+1.305.508.0899 | david@siddonsgroup.com

Stayed tuned during the next quarters to see whether the above finding are new trends!

For Sale vs Sold Properties in Brickell

Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image

Brickell Condo Market of $1M- $1,5M
click to enlarge

Brickell Condo Market of $1.5M+

The Months of Inventory of Brickell Condos

Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image

Rules of Thumb

Buyer’s market: more than 9 months of inventory based on closed sales
Seller’s market: less than 6 months of inventory based on closed sales
Neutral market: 6 – 9 months of inventory based on closed sales

Brickell Condo Market of $1M- $1,5M
click to enlarge