Market Update: 3 Bedroom Units in Brickell under $1,000,000

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Back in August, I posted a market update showcasing all of the 3 bedroom listings available in Brickell.  At that time, there were about 70 or 80 units on the market.  Flash forward to today and that number has almost doubled.  Currently, there are a whopping 125 units with 3 bedrooms on the market in Brickell!  In an effort to streamline the information in this post,  I am only looking at 3 bedroom units that are priced below $1,000,000 (there are currently 57), and I will be focusing on price per square foot (opposed to list price).

Of the 57 active listings, the average list price per square foot is $438.33.  Your best value is unit 3024 at The Club at Brickell Bay (a short sale), which is asking $264/sf ($325,000).  This is a slight decline from August when the lowest price per square foot was $308 (that unit was also located at The Club).

The priciest listing is unit 1403 at the Icon Brickell, which is asking $655/sf ($995,000).  Again, this is a decline from August when the priciest listing (under $1,000,000) was asking $761/sf  (that unit was also located at the Icon Brickell).

This slight drop in price comes as no surprise, as Brickell’s bevy of new construction buildings has tapered the demand for resales.  Take a look at all the inventory, below:

Brickell 3 Bedroom Units: Active Listings

Address Building Name Sq Ft #Beds #FB #HB List Price LP$/SqFt YR
520 BRICKELL KEY DR # ABH44 BRICKELL KEY ONE 2292 3 3 0 995,000 434.119 1982
495 BRICKELL AV # 1403 Icon Brickell 1518 3 2 0 995,000 655.468 2009
2333 BRICKELL AV # TSE BRICKELL BAY CLUB 2380 3 3 0 995,000 418.067 1974
801 BRICKELL AV # 1003 COURTS BRICKELL KEY 1659 3 3 0 980,000 590.717 2002
2101 BRICKELL AV # 3305 SKYLINE ON BRICKELL 1762 3 2 0 965,000 547.673 2004
701 BRICKELL KEY BL # 1003 COURVOISIER COURTS 1719 3 2 1 955,000 555.556 1997
701 BRICKELL KEY BL # 1812 Courvoisier Courts 1655 3 2 0 948,000 572.81 1997
1111 SW 1 AV # 3719-N Axis on Brickell 1908 3 3 0 934,500 489.78 2008
999 SW 1st AVENUE # PH10 NINE AT MARY BRICKELL 1434 3 3 0 927,335 646.677 2014
701 BRICKELL KEY BL # 1703 Courvoisier Courts 1719 3 2 1 925,000 538.104 1997
1901 BRICKELL AV # B2409 BRICKELL PLACE 3197 3 3 0 900,000 281.514 1975
1915 BRICKELL AV # CPH-10 BRICKELL PLACE 2100 3 3 0 877,000 417.619 1980
1627 BRICKELL AV # 1007 IMPERIAL AT BRICKELL 1792 3 2 1 859,000 479.353 1983
801 BRICKELL KEY BL # 3004 COURTS BRICKELL KEY CONDO 1493 3 3 0 835,000 559.277 2002
801 BRICKELL KEY BL # 2609 COURTS 1488 3 3 0 830,000 557.796 2002
1541 Brickell Av # B2803 The Palace Condo 1640 3 2 0 829,000 505.487 1981
801 BRICKELL KEY BL # 1704 COURTS Brickell Key 1493 3 3 0 825,000 552.579 2002
1915 BRICKELL AV # CPH7 BRICKELL PLACE-PHASE 2 2048 3 3 0 825,000 402.832 1980
500 BRICKELL AV # 1901 500 BRICKELL EAST 1494 3 3 0 825,000 552.209 2008
1901 BRICKELL AV # 2309B BRICKELL PLACE 2133 3 2 1 799,999 375.058 1975
520 BRICKELL KEY DR # A1421 Brickell Key One 1890 3 3 0 799,000 422.751 1982
1627 BRICKELL AV # 2505 IMPERIAL AT BRICKELL COND 1732 3 2 1 795,000 459.007 1983
500 BRICKELL AV # 2301 500 BRICKELL EAST TOWER 1494 3 3 0 780,000 522.088 2008
1111 SW 1 AV # TH721 Axis on Brickell 2095 3 3 0 765,000 365.155 2008
500 BRICKELL AV # 2201 500 Brickell 1494 3 3 0 759,000 508.032 2008
1155 BRICKELL BAY DR # 2904 THE MARK 1510 3 2 0 750,000 496.689 2001
31 SE 5 ST # 4012 BRICKELL ON THE RIVER 1419 3 2 1 750,000 528.541 2006
1450 BRICKELL BAY DR # 1507 COSTA BELLA CONDO 2059 3 3 0 749,999 364.254 1977
1627 BRICKELL AV # 1204 IMPERIAL AT BRICKELL 1732 3 2 1 749,900 432.968 1983
1627 BRICKELL AV # 1104 IMPERIAL AT BRICKELL 1732 3 2 1 739,900 427.194 1983
500 BRICKELL AV # 1801 500 Brickell 1494 3 3 0 739,000 494.645 2008
1627 BRICKELL AV # 2905 Imperial at Brickell 1732 3 2 0 729,000 420.901 1983
1155 BRICKELL BAY DR # 3104 THE MARK ON BRICKELL 1510 3 2 0 725,000 480.132 2001
218 SE 14 ST # 804 The Emerald At Brickell 1654 3 2 0 710,000 429.262 2006
1010 SW 2 AVE # LP2106 BRICKELL TEN 1579 3 3 1 699,000 442.685 2016
1627 BRICKELL AV # 901 IMPERIAL AT BRICKELL 1792 3 2 1 695,000 387.835 1983
905 BRICKELL BAY DR # 1927 FOUR AMBASADORS 2080 3 3 0 690,000 331.731 1968
2025 BRICKELL AV # 2004 ATLANTIS ON BRICKELL 1666 3 2 1 665,000 399.16 1982
1111 SW 1 AV # 719-N Axis on Brickell 1799 3 3 649,900 361.256 2008
905 BRICKELL BAY DR # 1530 FOUR AMBASSADORS 2010 3 3 0 649,000 322.886 1968
1010 SW 2 AVE # 505 BRICKELL TEN 1540 3 3 1 639,000 414.935 2016
31 SE 5 ST # 3721 BRICKELL ON THE  RIVER 1513 3 2 1 630,000 416.391 2006
60 SW 13 ST # 3826 INFINITY AT BRICKELL COND 1568 3 3 0 625,000 398.597 2008
520 BRICKELL KEY DR # A604 BRICKELL KEY ONE 1624 3 3 0 625,000 384.852 1982
60 SW 13 ST # 2626 Infinity at Brickell 1568 3 3 0 599,000 382.015 2008
1420 BRICKELL BAY DR # 303-A Bayshore Place Condo 1433 3 2 0 595,000 415.213 1973
1420 BRICKELL BAY DR # 403A BAYSHORE PLACE CONDO 1433 3 2 0 595,000 415.213 1973
175 SE 25 RD # A10 25 Bay Tower Condo 1645 3 2 0 589,000 358.055 1971
185 SW 7 ST # 3211 LATITUDE ON THE RIVER 1486 3 3 0 535,000 360.027 2007
1010 SW 2 AVE # 703 BRICKELL TEN 1394 3 2 1 532,000 381.636 2016
1200 BRICKELL BAY DR # 2802 THE CLUB AT BRICKELL BAY 1232 3 2 0 480,000 389.61 2005
1200 BRICKELL BAY DR # 2002 the club at brickell bay 1232 3 2 0 450,000 365.26 2004
690 SW 1 CT # 3122 NEO VERTIKA 1255 3 2 0 449,000 357.769 2006
175 SE 25 RD # F4 25 Bay Tower 1367 3 2 0 439,000 321.141 1971
2201 BRICKELL AV # 25 Brickell Mar 1348 3 2 0 419,000 310.831 1969
690 SW 1 CT # 2921 NEO VERTIKA 1155 3 2 0 369,000 319.481 2006
1200 BRICKELL BAY DR # 3024 The Club @ Brickell Bay 1232 3 2 0 325,000 263.799 2005

As for closed sales, I took a look back at all of the 3 bedroom sales in the last 6 months (including listings above $1,00,000), and the average sales price per square foot was $562.  Again, this is a slight decline from August when the average sales price per square foot was $585.  If you exclude the properties priced above $1,000,000, the average sales price per square foot was $433.14.

The lowest priced sale was #2506 at The Vue, which sold for $227/sf ($352,800).  The priciest sale was #2401 at Asia on Brickell Key, which sold for $944/sf ($1,950,000).

Check out all of the closed sales below, and as always, contact me directly at 305-799-2124 or lindsayrubens@avatarflorida.com for more information about buying or selling a condo in Brickell or the surrounding neighborhoods.

Brickell 3 Bedroom Units: Closed Sales (Last 6 Months)

Address Building Name Sq Ft #Beds #FB #HB List Price LP$/SqFt Sale Price SP$/SqFt List Date Closed Date Year
901 BRICKELL KEY BL # PH3807 Carbonell 3403 3 3 1 3,300,000 969.733 2,700,000 793.418 4/4/2014 12/18/2014 2005
900 BRICKELL KEY BL # 2401 Asia Condo 2065 3 3 1 2,099,000 1016.465 1,950,000 944.31 5/7/2014 10/9/2014 2008
900 BRICKELL KEY BL # 901 ASIA 2065 3 3 1 1,975,000 956.416 1,850,000 895.884 5/9/2014 8/5/2014 2008
901 BRICKELL KEY BL # 2304 Carbonell 2591 3 3 1 1,895,000 731.378 1,845,000 712.08 6/24/2014 8/4/2014 2005
1581 BRICKELL AV # 801 Villa Regina 3060 3 4 1 1,683,000 550 1,530,000 500 4/12/2014 9/15/2014 1982
2127 BRICKELL AV # 3305 Bristol Tower 2310 3 3 0 1,650,000 714.286 1,530,000 662.338 8/12/2014 9/19/2014 1993
848 BRICKELL KEY DR # 4106 Three Tequesta Point 2293 3 3 1 1,625,000 708.679 1,575,000 686.873 7/23/2014 10/6/2014 2001
1331 BRICKELL BAY DR # 3407 JADE 2130 3 3 0 1,625,000 762.911 1,585,000 744.131 8/16/2014 12/19/2014 2004
808 BRICKELL KEY DR # 3604 Tequesta Two 2510 3 3 1 1,599,999 637.45 1,540,000 613.546 8/2/2014 11/6/2014 1999
495 BRICKELL AV # 4201 Icon Brickell Condo 1870 3 2 0 1,475,000 788.77 1,400,000 748.663 7/23/2014 10/14/2014 2009
2127 BRICKELL AV # 501 BRISTOL TOWER 2600 3 4 0 1,450,000 557.692 1,400,000 538.462 6/5/2014 8/22/2014 1993
465 BRICKELL AV # 4301 ICON BRICKELL 1825 3 2 1 1,400,000 767.123 1,400,000 767.123 7/12/2014 9/11/2014 2008
495 BRICKELL AV # 1001 ICON BRICKELL 1870 3 2 0 1,350,000 721.925 1,220,000 652.406 7/9/2014 10/21/2014 2009
1395 BRICKELL AV # PH3404 Mayfield Condo 2082 3 3 0 1,325,000 636.407 1,312,000 630.163 6/9/2014 10/30/2014 2003
901 BRICKELL KEY BL # 1406 CARBONELL CONDO 1944 3 2 1 1,290,000 663.58 1,175,000 604.424 11/16/2014 12/30/2014 2005
800 CLAUGHTON ISLAND DR # 1901 ST LOUIS CONDO 1960 3 3 0 1,199,000 611.735 1,080,000 551.02 10/9/2014 12/29/2014 1995
701 BRICKELL KEY BL # 203 Courvoisier Courts 1724 3 2 1 995,000 577.146 920,000 533.643 5/12/2014 9/15/2014 1997
801 BRICKELL KEY BLVD # 3103 THE COURTS 1659 3 3 0 990,000 596.745 930,000 560.579 1/7/2014 12/4/2014 2002
1395 BRICKELL AV # 2602 Mayfield 1892 3 3 1 959,000 506.871 860,000 454.545 9/11/2013 8/29/2014 2003
1111 SW 1 AV # PH3819 Axis on Brickell 1908 3 3 0 945,000 495.283 880,000 461.216 3/4/2014 10/30/2014 2008
701 BRICKELL KEY BL # 2012 COURVOISIER COURTS 1655 3 2 1 885,000 534.743 845,000 510.574 7/28/2014 12/3/2014 1997
801 BRICKELL KEY BL # 2904 COURTS BRICKELL KEY 1493 3 3 0 870,000 582.719 854,000 572.003 6/27/2014 8/26/2014 2002
1925 BRICKELL AV # DPH10 BRICKELL  PLACE 2080 3 3 0 820,000 394.231 780,000 375 5/1/2014 10/30/2014 1980
2101 BRICKELL AV # 3108 SKYLINE ON BRICKELL 1762 3 3 0 768,000 435.868 768,000 435.868 1/15/2014 8/5/2014 2004
520 BRICKELL KEY DR # A721 BRICKELL KEY ONE 1890 3 3 0 750,000 396.825 740,000 391.534 10/14/2014 1/15/2015 1982
701 BRICKELL KEY BL # 512 Courvoisier Courts 1725 3 2 1 749,888 434.718 749,888 434.718 5/15/2014 8/11/2014 1997
1627 BRICKELL AV # 1601 IMPERIAL AT BRICKELL COND 1792 3 2 1 699,000 390.067 670,000 373.884 7/21/2014 9/30/2014 1983
31 SE 5 ST # 4212 BRICKELL ON THE RIVER 1419 3 2 1 685,000 482.734 660,000 465.116 7/21/2014 12/10/2014 2006
31 SE 5 ST # 4115 BRICKELL ON THE RIVER 1513 3 2 1 645,000 426.305 625,000 413.087 7/23/2014 11/21/2014 2006
31 SE 5 ST # 3418 BRICKELL ON THE RIVER 1419 3 2 1 619,000 436.223 590,000 415.786 5/15/2014 10/15/2014 2006
175 SE 25 RD # A-9 25 BAY TOWER 1645 3 2 0 535,000 325.228 502,000 305.167 8/1/2014 10/1/2014 1971
1250 S MIAMI AV # 2506 Vue at Brickell Condo 1551 3 2 0 330,300 212.959 352,800 227.466 8/27/2014 12/4/2014 2004
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