What is happening in the Brickell Condo Market?
The #'s are in for the 4th Quarter and for 2025 as well.
We have a few graphs to show you, so let's jump right in...
Here are the #'s for the 4th Quarter comparing it to the previous 3 Quarters.
Actives are about the same thru 4 Quarters, and remain very high while all other key indicators are in line showing similar #'s thru 4 Quarters including prices. Now let's look at the total #'s for 2025.
Here's a quick snapshot of the market in 2025:
824 - Closed Sales
80 - Days on Market
Median Prices... $633/Sqft and $640,000
Now we show you the price ranges of the Closed Sales for 2025 in Brickell.
Quickly we can see that most of the Sales Activity is under $1-Million Dollars which makes up 80% and if we include sales up to $3-Million that makes up 98% of the condo market in Brickell. Then sales taper off dramatically above $3-Million.
We like to highlight the Highest Priced Closed Sale for 2025.
It was Penthouse Combo Unit at The Four Seasons Brickell - Sold for $14.8-Million Dollars or about $2,000/Sqft.
Now we are going to compare the #’s for 2025 to the previous 2 years to really give us some context.
Right away we can see a huge drop-off in the # of Closed Sales. Exactly what we saw in Downtown Miami. The incredible thing about this is that look at prices... holding steady. And once again we have seen this in most of the neighborhoods we cover, Days on Market steadily increasing for the past 3 years. The #'s don't really look good in Brickell.
For Seller's - The #'s do not look good as sales has slowed dramatically, and Active Listings at over 1,100 remains very high especially for such a small neighborhood. While it seems like prices are holding it appears that market forces will start to put downward pressure on prices so be careful when listing your condo for sale and make sure to price it correctly.
For Buyer's - Most key indicators here are in your favor and we feel that with such a slowdown in sales and an increase in Active Listings that pricing may start to ease, so hang in there.
As I start my 20th year in the Miami real estate market, I can proudly say that our goal in making these videos is to help as many people as we can by sharing real market data with you to give you a better insight into the local market. The Buying and Selling of a home is one of the largest financial transactions of your life, so please make sure to work with a professional that can guide you through. We thank you for watching, and We'll see you soon.