Rising interest rates cool the market again, but the price outlook for 2023 remains good | Immovable
As 2022 draws to a close, mortgage rates have risen again. During the week ending December 30, the rate hovers around 7% for a 30-year fixed mortgage. While housing stock remains low, demand continues to be high in the local market. Although prices are cooling, as they have been, the local housing market is unlikely to crash in 2023, as it did in 2008.
Today’s buyer is looking for well-maintained properties that require little or no repairs. Keep reading to see what sold out in Key Biscayne and Brickell during the December 19-23 period.
Vizcaya key
$660,000
2 bedrooms/2 bathrooms/1,015 square feet
301 Sunrise Drive, apt. 2BE, Key Biscayne
Corinne Dodd of Cervera Real Estate Inc. represented both buyer and seller in this transaction. The two-bedroom went on sale in September for $688,000.
$1,500,000
2 bedrooms/2 bathrooms/1,875 square feet
881 Ocean Drive, Apt. 19F Key Biscayne
BHHS EWM Realty handled this transaction for both seller and buyer. Listing for $1.75 million in September, this large two-bedroom within Casa del Mar offers views of the ocean and Biscayne Bay.
Brickell
$525,000
2 bedrooms/2 bathrooms/1,145 square feet
186 SE 12th terrace, app. 904 Miami
Corner unit in the Solaris at Brickell Bay with wraparound balcony and split floor plan. This two-bedroom went on sale in September for $575,000.
$762,000
2 bedrooms/2 bathrooms/1,369 square feet
999 SW First Ave., Apt. 2006, Miami, FL 33130
A lovely two-bedroom apartment within Nine Mary Brickell Village Condos went on sale in August for $800,000.
$720,000
2 bedrooms/2 bathrooms/1,255 square feet
690 SW First Court, Unit PHII10, Miami
A two-story high-end penthouse with 20-foot ceilings with industrial and modern interiors went on sale for $674,000 in November.
$480,000
1 bedroom/1 bathroom/791 sq.ft.
2101 Brickell Avenue, apt. 1103, Miami, FL 33129
Beautiful one bedroom with ocean view and a large balcony sold for the asking price.
$501,043
2 bedrooms/2 bathrooms/1,145 square feet
186 SE 12th Ter., App. 1205 Miami
Located in the Financial District, this corner unit was listed in August for $610,000.
$480,000
1 bedroom/1 bathroom/825 sq.ft.
1200 Brickell Bay Drive, Apt. 1518 Miami
The one-bedroom unit that allows Airbnb rentals went on sale in August and sold for the asking price.
$515,000
2 bedrooms/2 bathrooms/1,064 square feet
186 SE 12th terrace, app. 1602 Miami
The two-bedroom Solaris at Brickell Bay features marble floors, a secure building, and 9-foot ceilings. It was listed in August for $635,000.
$575,000
1 bedroom/1 bathroom/895 sq.ft.
1331 Brickell Bay Drive, Apt. 904 Miami
Jade at Brickell Bay one bedroom has Sub-Zero and Miele appliances. It went on sale in October for $599,000 and last sold in 2015 for $358,000.
$645,000
2 bedrooms/2.5 baths/1,289 square feet
951 Brickell Ave., apt. 1110 Miami
The two-bedroom corner unit with two parking spaces went on sale in May for $775,000.
$558,000
1 bedroom/1 bathroom/732 sq.ft.
495 Brickell Avenue, apt. 3208 Miami
The charming Icon Brickell one-bedroom apartment with abundant natural light and views of the Intracoastal went on sale in August for $585,000.
To read last week’s property listings, click here.
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