The Roads Miami; A Real Estate Market Update
WHAT IS HAPPENING IN YOUR NEIGHBORHOOD?
The real estate market update for 2015
Are you living in the Roads neighborhood or looking to buy into this evolving neighborhood just next to Brickell? Then this real estate update is a must read!
Map of The Roads
Click on the map to enlarge
The Roads is one of Miami’s hidden neighborhoods. Previously known for its old homes and historic neighborhood, now it is one of the closest residential areas next to Brickell and Downtown. It is an area filled with sidewalks, tree lined streets, and decent lot sizes all within minutes to expressways, parks, and beaches. This area has now become renovation central as young families have started to call the Roads their home.
The tables below show how the average sales prices per SqFt have been increasing in the last 5 years. The average sales price per SqFt in 2011 was $164 today that amount has almost doubled to $297.
Inventory levels in the Roads have increased in 2015 due to its high demand. 2014 Showed the Roads as a stable market (6-9 months of inventory), the 2015 data shows a strong buyer’s market with 9 months or more of inventory.
What has sold in the Roads?
The table below displays the closed sales in the Roads in the second quarter of 2015.
The Roads still offers great deals for investors who would like to own land near Brickell and Downtown, for first time homeowners that seek a move-in ready family home near brickell as well as the buyer that seeks a 10,000 Sq.Ft or more lot or a renovation project.
Click on the link to our latest blog on what you can afford in the Roads.
What is currently available in the Roads?
Below is the current inventory of the Roads.
What every buyer of Miami real estate needs to know
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