Miami’s Favorite Financial District Brickell Topping Popularity Charts Of Condos For Sale And Rent

By Author: Sep Niakan
Total Articles: 2
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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 at 305-725-0566!