Hi Everyone,
I prepared the information below for a friend considering selling his unit at ECHO Brickell and thought others of you who may have customers there might find it helpful. The research is as of October 28, 2019.
Since ECHO opened, there have been 8 non-developer sales, 6 of which have been sold through the MLS. The developer has sold 2 units (PH54 and 2901/04) via the MLS. Of the sales made through the MLS, the median sale price as a percentage of the original list price is 72%. This indicates that the sellers received, on average, 28% less than they had hoped to sell for.
Year-to-date, 7 units have sold at a median sale price of $693/square foot, with the highest selling (PH54) for $1,586 per square foot and lowest selling for $621 per square foot (unit 1701).
Today, there are 48 units on the market, with two of those units pending sale. The median current list price of those listings compared to their original list prices is 90%. Average days on the market is 415 days.
If you think the tables with data would be helpful, just let me know and I’d be happy to send over to you.
Have a great day!
Scott Shuffield