Market Update: Brickell Condo Sales

January 29, 2016

Penthouse view from Nine at Mary Brickell Village – PH08

Many people have been debating recently on the state of Miami’s condo market, and sometimes it is difficult to tell whether they are overly optimistic, pessimistic, in denial or leading us on. Is the market declining? Are we in a bubble? Are we in for a crash? Here are a few notes that we have made about the Brickell condo market that will be of use to residents, buyers and sellers alike.

The statistics listed below are accurate at the time of publishing. For statistics updated daily, visit the building and neighborhood pages linked in this post.

Brickell Statistics
Average sales price/square foot (over previous 6 months): $554
Average marketing time for listings that ultimately sell (over previous 6 months): 134 days

Buildings that currently have the most available sales

1. Icon Brickell – 238 of 1,646 units
2. Millecento – 84 of 382 units
3. BrickellHouse – 74 of 374 units

Buildings that currently have the most available rentals

1. Icon Brickell – 105 of 1,646 units
2. BrickellHouse – 35 of 374 units
3. Infinity at Brickell – 29 of 459 units

Notable sales from the last 6 months

• Lowest Priced Sale: 540 Brickell Key Drive #1509
  This apartment is a 470 square foot studio in Brickell Key II with partial bay & city views. It was originally built in 1991 and was listed for $219,900 then sold for $177,510 cash after 101 days on the market.
• Highest Priced Sale: 1643 Brickell Avenue #4401
  For $6,550,000 the new owners of Santa Maria 4401 will enjoy direct bay and city views from this flow-through residence on the 44th floor. The apartment has 4 bedrooms, 6 1/2 baths, private elevator, his/hers master suite and staff quarters. Santa Maria was built in 1997 and this apartment was originally listed for $7,000,000 then sold for cash after 21 days on the market.

Living room with bay view in Santa Maria #4401 Photo credit: MLS

Stay tuned for our update of the preconstruction market!