Right now, the Brickell real estate market is experiencing a slim supply of condo inventory available. This means that right now, sellers have the advantage. As of now, condo prices in the area are about 22% higher than the country’s median sales price. The median sales price for a condo in Brickell right now is $415,000 as of May 2021.
The demand in the area is still very high. People are drawn to this neighborhood because of many reasons. However, the biggest reason is its walkability factor. Brickell has the tremendous advantage of providing its residences close proximity to many entertainment venues, restaurants, shopping, and more. In addition, Brickell real estate is known for having amazing luxury condominiums. There are many luxury projects in the area at attractive prices.
Although people from all over the world purchase real estate in Miami’s financial center, buyers from Los Angeles, New York, and locals comprise 80% of the condo buyers in the area. Despite the slim inventory, experts project that sales activity will remain consistent. Right now, many buyers are taking advantage of low mortgage rates. In addition, new projects such as Baccarat Residences Brickell will add more units for sale in the area.
Read more: https://www.miamiherald.com/news/business/real-estate-news/article252057463.html
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