Miami’s Favorite Financial District Brickell Topping Popularity Charts of Condos for Sale
Crunching the numbers on how the market is faring on Brickell condos for sale and
Brickell condos for rent, we found quite a few surprises that we’re positive will get
your excited about this financial district.
Miami’s real estate market is practically on fire these days and if you have been
following the news, you would know that it is right now competing for the top spot in
the country when it comes to average sales price increases, record breaking deals and
growth in general. However, we put our favorite financial district under the scanner to
see how this particular neighborhood was doing as regards to Brickell condos for sale
and Brickell condos for rent, and the results have been astounding.
Brickell is no longer just a hotspot when it comes to finances, but has also benefitted a
great deal from new and upcoming projects such as the Mary Brickell Village and
Brickell CitiCentre, turning it into the latest darling for those looking for upscale
residences that also include plenty of options for play.
Taking a more in-depth look into the Brickell condos for sale market and comparing
single bedroom average sale prices in the Southeast Florida MLS in June to those of the
same month of the previous year, we have an astonishing leap of 27.21%, where prices
have gone from $168,495 to $214,345, also making for an increase of 28.89% in average
sales price per sq. ft. This can be considered quite an achievement, given that we haven’t
achieved those kinds of price increases since the last boom years.
And, while the two bedroom average sales prices have jumped from $298,043 in June
20111 to $356,823 in June 2012, a solid 19.72% leap, they are closely followed on its
heels by an increase of 17.02% in average sales prices from previous year’s $640,001 to
$748,940 in case of three bedroom condo units. This makes up for an overall increase of
21.32% in average sales prices for 1, 2 and 3 bedroom units when comparing the
periods of June 2011 and July 2012.
The Brickell condos for rent segment is not far behind either, with single bedroom
costs going from a humble $1,583 to $1,760 on an average, and three bedroom rentals
taking a leap of 15.01% from an average of $3,288 in June 2011 to $3,782 in June 2012.
Digging deeper into some of the premier properties of the Brickell condos for rent and
sale segments, the statistics again run quite positive. ICON Brickell, one of the most
envied addresses in the waterfront community, has been witness to an increase of
6.25% in rental prices, from a sample of $1,600 in 2011 to $1,700 in 2012. Next in line
to show an increase is Neo Vertika that stands majestically alongside Miami River’s
south bank, with a sample price leap from $1,475 in August 2011 to an impressive
$1,650 in March 2012. However, leading the Brickell condos for rent segment is The
Plaza, a stately high-rise situated in the bustling heart of this financial district, with an
amazing leap of 25% in one of its units, from its December 2010 rental price of $2,000
to $2,500 in May 2012.
Wish to be a part of the Brickell community that not only proves to be a haven for
luxurious living, but also a prudent investment? Contact Sep Niakan Brickell Specialist