Plaza Brickell Year-To-Date Sales Ratios
Plaza Brickell has been one of the hottest condo buildings to purchase in all of Brickell. The 2 condo towers definitely give the most overall value for your money. The Plaza Brickell has great units, amenities, staff, and provides a great central location to everything you would need in the city. If you want to learn more about Brickell Miami, read The Best Brickell Neighborhood Guide. To learn more about why Plaza Brickell are the best condos in Brickell, read my previous blog post here.
Let’s take a look at the year-to-date sales data for the Plaza Brickell, so you have a better understanding of what this all means. There has been 84 properties sold year-to-date. The two graphics below present the year-to-date close price to list price ratios on sales at Plaza Brickell. For the knowledge of the readers, the percentages on these graphics represents the monthly listed sale price ratio (100%) vs what the monthly close sale price ratios were. For example, in July of 2021, the close price ratio was at 99.1% which means properties were closing roughly 0.9% under the list price. Since the market has been so competitive this year, the statistic show that month-over-month properties have been selling very close to listed sale price. As you can see from the statistics, October and November of 2021 there has been a small reduction in ratio where close sale prices are roughly 1.2% under list price. Don’t be fooled by the numbers though, the competition is still fierce as ever.
Plaza Brickell Sales vs Brickell Sales Ratios
As a comparison, I wanted to show readers how Plaza Brickell compared to the rest of Brickell when it came to year-to-date close price to list price ratios. There have been 2358 properties sold year-to-date throughout Brickell which is a tremendous number for a single year. Many people from out of town are the reason for the upward trend in sales prices in not just Brickell, but all of Miami. Click here to learn more about out of town home buyers flocking to Miami.
Based off the statistics below you can see that There has been a gradual increase in the Brickell real estate market month-over-month in list price to sale price ratios. In the early part of the year you could see a somewhat regular 3-5% ratio difference. As we moved into the summer, those ratios dwindled down to sub 2% which shows how quickly the market tightened.
Plaza Brickell Year-To-Date Sales Ratio Wrap-up
The condo market in Miami has been extremely competitive over the last year. For most of the year, properties at Plaza Brickell were selling at list price, but there were some instances where properties were going over list price due to tight competition in the real estate market. There was a lot of speculation that the market would dip, but there hasn’t been much data to prove that theory. In fact, the Miami condo market is still hotter than ever. From the data presented above, Miami is the most sought out place to be in the whole United States, learn more about that shift to Miami here. Plaza Brickell has shown that it was a very highly sought out building for condo purchases throughout 2021, and the trending seems to be continuing into 2022.
Don’t miss out on your opportunity to own at Plaza Brickell. If you want to learn more about The Plaza on Brickell or Brickell real estate, look no further than me. If you are interested in buying at The Plaza on Brickell or other Miami luxury real estate, contact me today! I look forward to working with you.