Neighborhood Economics for Brickell Condos – Quarter 1 and 2 − 2015
The Brickell Condo Market in a Nutshell
Get a quick overview of the Brickell Condo Market in the first half year of 2015
The ‘neighborhood economics’ blogs are excellent to gather a pulse on the Brickell Condo Market because we provide the market’s key indicators. This blog focuses on the last half year 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– Q2 2015
Brickell Condos of $500,000 – $1,000,000
We saw a considerable increase in the amount of listings, while sales remained steady. Inventory remained steady, although with an inventory of more than 20 months, we are in a strong buyer’s market. Prices remained stable in Q2, but seemed to have declined slightly since Q1 of this year.
Brickell Condos of $1,000,000 – $2,000,000
Within this sub-market there was a considerable increase in the amount of listings. While sales seemed to pick up in April and May, June showed lower numbers of sales. While inventory decreased in quarter 1, quarter 2 shows an increase in inventory again. With an average of 27 months of inventory in the second quarter of 2015, we are experiencing a strong buyers market. Prices remained stable in Q2.
Brickell Condos of $2,000,000 +
Slightly less Brickell luxury condos were listed in Q2 of 2015 compared to Q1, but also less condos sold during Q2. The months of inventory increased to 54 months.
Are you thinking of investing in Brickell or selling your Brickell Condo and are you wondering how these high numbers of inventory affect your investment?
Feel free to contact me for further explanation ⇒
+1.305.508.0899 | firstname.lastname@example.org
Stayed tuned during the next quarters to see whether the above finding are new trends!
For Sale vs Sold Properties in Brickell
An overview of how many properties were listed for sale as well as how many properties were sold per month in each price range.
The Months of Inventory of Brickell Condos
The months of inventory is an important indicator in real estate. It indicates how many months it takes to sell all the current listings under the assumption that no new listings will enter the market.
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
The Sales Prices of Brickell Condos
Read our Quarterly Neighborhood analytics for:
♦ Bal Harbour
♦ Coconut Grove
♦ Coral Gables
♦ Downtown / Midtown Miami
♦ Fisher Island
♦ Key Biscayne Condos / Key Biscayne Homes
♦ Miami Beach Condos / Miami Beach Homes
♦ South Beach Condos / South Beach Homes
♦ South Miami
♦ Sunny Isles
Meet the team and see our unique insights into the Miami Real Estate Market
No generalized opinions but an analytic approach