Since one year ago, the number of active listings is down 3.4% while the sold properties are up 14.4%.
The pended are up 51.1%. When the PENDED LISTINGS indicator is rising, our market is in recovery. Contracts have been written and are anticipated to close.
Average home prices are up. The price per square foot of a condo in Brickell is approximately $377 per square foot – which is the same as last year.
Condos remain on the market an average of 171 days — which is up 11% last year.
Homes are selling within 88% of their originally listed price.
The average listed price in Brickell is $745,000 — a .7% increase over last year. The average sold price is $458,000.
Important information: Months of Inventory. Currently, the Brickell area is experiencing 16.8 months of inventory which is indicative of a Buyer’s market. This is a 15.6% decrease from a year ago.
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.