In the prestigious Brickell and "Roads" neighborhoods of Miami, the number of HOUSES LISTED FOR SALE in August 2009 was 44 compared to 84 in August of 2008. The NUMBER OF HOUSES sold and under contract in August 2009 was 9 compared with 0 in August of 2008. This shows a dramatic increase in buying activity and a decrease in inventory.
As for CONDOS in Brickell/Roads and the downtown and east Miami River areas, 1217 were LISTED FOR SALE in August of 2009 compared to 1584 in August of 2008. The NUMBER OF CONDOS sold/under contract in August 2009 was 127 compared with 116 in August of 2008. As you can see, the inventory has gone down and sales are up. Average LIST prices have decreased 23.2% over last year, while average SOLD prices have gone down 17.6% over the year. Average sold prices, PER SQUARE FOOT, are down 25.4%.
Because of the ample supply of houses and condos and the downward trend of the prices, we can consider this a Strong Buyer's Market. Inventory of over 12 months supply is generally considered favorable to Buyers.
There is a great selection of houses, townhouses and condos currently available in the various neighborhoods which comprise Brickell. The areas include Brickell Key island, Brickell Village, "The Roads" and historic South Miami Ave. There are also numerous new and "newish" condominiums in downtown Miami and on the Miami River. It is a great time to purchase property in any of these areas!
Call me for more specific information—whether you're looking to purchase or to sell property: 305-968-4759. You can also contact me via email, if you prefer: b@SuperbMiamiHomes.com I look forward to hearing from you!
ZIP Codes: 33129, 33131 Location Characteristics: The zip code 33129 is bounded on the west by SW 12 Ave and on the east by Biscayne Bay. This area includes the neighborhood commonly referred to as "The Roads", which primarily has single family homes but also has some condos; Miami Ave., featuring many stately historic homes; famous "Brickell Ave., which primarily contains high-rise water-front condominiums; and Brickell Village, containing a mixture of condos, restaurants, shops and entertainment.
The 33131 zip code is comprised of the north end of Brickell Ave., which contains a mixture of waterfront condos, hotels and commercial establishments; the south end of downtown Miami, which contains some more urban-situated condos and commercial establishments; the easternmost section of the Miami River, bordered by condos, houses and businesses; and lovely Brickell Key island. Brickell Key has a number of waterfront condominiums and a village atmosphere, with restaurants and shops within walking distance.
About Beatriz Portela:
Beatriz specializes in the sale of Exceptional Residences in the beautiful South Florida area: from homes in the woodsy enclaves of Coconut Grove to luxurious condominiums in Brickell, the Biscayne corridor and Miami Beach...from distinguished historic houses in Coral Gables and South Miami Avenue, to island living in Key Biscayne...to trendy new developments on the Miami River and downtown...to waterfront homes with dock space.
As a full-time Realtor, Beatriz is committed to providing personal, superior service. She assists customers with all of their real estate needs, including Loan Pre-Approvals and Financing, Contract Negotiations, Closing Details, National and International Relocation Services and coordination of Property Management. Services for sellers include in-depth Comparative Market Analysis to assist in pricing; Home Staging; and extensive, customized Marketing and Advertising.
Beatriz has a Masters degree in Business Administration from the University of Miami and a BA degree from the University of California. She is a member of the National Association of Realtors, the Florida Association of Realtors and the Realtor Association of Miami and the Beaches. She holds a Real Estate Salesperson License for the State of Florida. She is also a certified Relocation Specialist, who works extensively with incoming national and international customers, as well as placing outgoing customers with qualified agents at their destinations. Beatriz is bilingual in English and Spanish.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
