The Status of the Brickell Condo Market – Quarter 1 and 2 of 2017

David Siddons

How Saturated is the Brickell Condo Market

 

A lot has been said about the Brickell condo market and many buyers think they better stay away from this saturated market. This is true, some sub-sections of the Brickell condo market do show a high amount of months of inventory and it is a very strong buyers market. However, as we always mention, you cannot generalize the entire market and compare all types of condos with one another. Not all Brickell condos see the same amount of inventory and not all Brickell condos are experiencing a strong buyers market. As a matter of fact in some buildings we see rising prices.

Carbonell PH3705 will soon enter the market after Carbonell PH3703 sold for a record breaking $932 per SF.

Carbonell PH3705 will soon enter the market after Carbonell PH3703 sold for a record breaking $932 per SF.

The Brickell condo market knows a lot of generalized products. Without mentioning names we can tell you that many of the (newer) Brickell condos are very generalized real estate products that do not stand out in the crowd, don’t offer unobstructed bay views and dont always offer the best of finishes. Buyers should be cautious with these condos. It is also advised to always check the buyer to renter ratio. Many of the newer Brickell condos offer a high amount of renters, which makes the building more volatile than buildings mostly occupied by owners.

Please call me for more information on the above

Which condos do very well?

Most of the bayfront Brickell condos are still selling for high prices and see rising prices per SF. These condos are well established, have performed well over time, are financially stable and offer something unique. Take for example our Penthouse listing at Carbonell that sold for a record breaking $932 per SF

For more information on the Brickell Condo market and what Brickell condos to focus on please go to:http://luxlifemiamiblog.com/how-saturated-is-the-brickell-condo-market/

 

David Siddons is a top producing Miami real estate agent with offices in Brickell. He has ranked number 1 in the Brickell market year after year and is known for his market analytics.

David Siddons | Siddons.d@ewm.com | +1.305.508.0899

 

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