Page 3

What happened in Brickell/ Miami downtown in 2012? Of

key

Brickell

Importance, and

property

Downtown

prices

dramatically.

increased 1

bed

in

units

increased on average: 27.9%, 2 bedrooms: 24.5%,

Prices increased by

17-27%

3 bedrooms: 27.3% and 4 bedroom units 17.6%. Visit: www.luxlifemiamiblog.com/condomarket or go to the appendix for the complete table of data

The rental market increased significantly as the population grew but the inventory of available units for the most

Rental Market prices increased up to

8.3%

A superb 3 bed unit at Epic. This building is currently trading at an average of $778 per sqft.

2011

2012

22.5%

PRICES PER SQUARE FOOT

$600

which in turn pushed rental prices up. Visit: www.luxlifemiamiblog.com/rentalmarket or go to the appendix for the complete table of data

The speed at which properties sold also increased. As demand increased over 2012 so properties sold on average 35 days faster than sales of the year before. We expect this trend to continue through 2013. Visit: www.luxlifemiamiblog.com/condomarket or go to the

594

$500

appendix for the complete table of data

517 Decrease in inventory for 2 bed units by

$400 $300 $200

Time on the Market decreased by

popular 1 and 2 bed units decreased by on average 14%.

332

312 241

262

31%

323

As we saw the rate of buying increase we saw inventory drop drastically. Inventory is quite possibly the most telling factor in a market’s future success. If inventory falls below a critical point then prices can only further increase. In Brickell inventory currently sits below a

247

level that maintains market balance and prices can only increase through 2013.

$100 $0

1 Bedroom units

2 Bedroom units

3 Bedroom units

4 Bedroom units

Information derived from Florida MLS data. 3

INVESTORS GUIDE 2013

DAVID SIDDONS GROUP, EWM REALTY INTERNATIONAL

Investors Guide to Brickell and Downtown Miami 2013  

A complete investors guide to buying real estate in Brickell and Downtown Miami. A look back on changes December 2011- December 2012

Advertisement