The Roads and Brickell Hammock single family homes market (zip code 33129) starts at the corner of SW 11 Street and SW 12 Avenue, and stretches southeast to the water. The area includes historic neighborhoods with homes dating from the early-1900’s, along with Alice Wainwright Park, Simpson Park, and Vizcaya Museum and Gardens.
September Property sales were 2, down -50.0% from 4 in September of 2014 and -33.3% lower than the 3 sales last month. September 2015 sales were at a mid level compared to September of 2014 and 2013. September YTD sales of 28 are running -20.0% behind last year’s year-to-date sales of 35.
The Median Sales Price in September was $618,450, down -3.9% from $643,501 in September of 2014 and down -54.2% from $1,350,000 last month. The Average Sales Price in September was $618,450, down -1.8% from $630,000 in September of 2014 and down -45.1% from $1,126,570 last month. September 2015 ASP was at a mid range compared to September of 2014 and 2013.
Inventory & MSI
The Total Inventory of Properties available for sale as of September was 40, down -9.1% from 44 last month and down -20.0% from 50 in September of last year. September 2015 Inventory was at a mid range compared to September of 2014 and 2013.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2015 MSI of 20.0 months was at its highest level compared with September of 2014 and 2013.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for September was 67, up 36.7% from 49 days last month and down -2.9% from 69 days in September of last year. The September 2015 DOM was at a mid range compared with September of 2014 and 2013.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The September 2015 Selling Price per Square Foot of $235 was down -40.2% from $393 last month and down -27.9% from $326 in September of last year.
Selling Price vs Listing Price
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The September 2015 Selling Price vs List Price of 104.0% was up from 92.2% last month and up from 99.0% in September of last year.
Inventory / New Listings / Sales
‘This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in September 2015 was 6, down -50.0% from 12 last month and down -50.0% from 12 in September of last year.
For the full .pdf report with graphics, click here to download: 2015-10-01 Brickell SFH 33129 Market Trends Report