Miami Downtown / Brickell Market update

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MIAMI DOWNTOWN / BRICKELL AREA MARKET UPDATE

You've probably read the news that housing sales have increased in December 08 (compared to November 08) for the first time in a long time.

Since many people have asked me how that affected the Miami Downtown / Brickell area market, here's quick update.

There were 37 sales in November and 60 sales in Dezember, which represents an increase of 62%

The sales volume was $10.725 mio. in November and $18.863 mio. in Dezember for an increase of 76%.

The average sales price increased by 8% from 290k to 314k. Of course this doesn't mean that prices in

the area are generally going up again (they are not), but rather that some of the pricier units have finally

become cheap enough to be bought up again.