How is Downtown Miami’s condo market doing recently?
Brickell Condo Real Estate is here to keep you updated with the latest and accurate information on the Downtown Miami condo market. Every quarter, this page is updated with a quarterly market report to keep you on the loop.
Additionally, you can use these resources to help you determine whether it is the right time to purchase or sell a condo in Downtown Miami.
Your guide to the Downtown Miami condo market
The quarterly market reports include the following information:
Median sales price. This figure represents the middle ground of sales prices in Downtown Miami’s condo market over the past quarter. Along with the average sales price, this number is helpful to both buyers and sellers. It sets price expectations for the former and can be a good benchmark for listing prices among the latter.
Median price per square foot. This is the middle price per square foot of condos sold in the Downtown Miami condo market. A high median price per square foot can indicate that the neighborhood is highly coveted. This figure also helps buyers determine whether a property is overpriced or otherwise.
Number of sales. This is the total number of condos sold in Downtown Miami over the course of the quarter.
Days on the market. Condos sold the past quarter in Downtown Miami spent a median number of days on the market.
Price range. This figure represents the range of closed prices in Downtown Miami the past quarter.
Year-on-year comparison. The aforementioned data comes complete with their respective year-on-year comparison. This figure is often used to gauge how the Downtown Miami condo market performed annually by comparing two measured results gathered over the same period. For instance, the number of sales in the first quarter of 2018 is compared to the number of sales in the first quarter of 2017.
Keep yourself in the know. Make it a habit to check this page regularly for the latest report on Downtown Miami’s condo market.
For more insight and information about the latest market trends, talk to a Downtown Miami condo expert from Brickell Condo Real Estate. Get in touch at info(at)brickellcondorealestate(dotted)com or 610.428.3913.