State of the Market: Brickell
Miami Dade County’s residential real estate market has historically been split into two segments: single family homes and condos. The fact is this is still true and we see that in the latest data on the real estate market in Brickell.
There’s more inventory available in Brickell than there has been in years. Combine that with the fact that there have been fewer sales and sale prices are down and you have the most attractive market for buyers in Brickell in years.
How Much Inventory is Available?
In June of 2025, there were 1,637 condos for sale in Brickell, a number that has been climbing steadily since the end of last year. That’s approximately 18 months’ worth of inventory, which confirms that Brickell is currently in a buyer’s market. With so much inventory available, sellers will have to go to greater lengths to distinguish their properties from their competition and draw attention from the limited number of buyers.
How Many Sales are Taking Place Per Month?
Sales have always been on the lower side in Brickell. Just 92 properties were sold in June of 2025, but this is just a little lower than average for this neighborhood.
It’s prices that have taken the biggest hit as of late. Between May 2025 and June 2025, the average selling price for a property dropped by a whopping 32.6% to just 797,000. That puts property prices in Brickell at their lowest point since April of 2024.
It’s also worth noting that selling prices in Brickell were up and down like a yo-yo throughout most of last year, while for-sale prices climbed steadily. After hitting their peak at the end of 2024, for-sale prices have been on the decline. In June of 2025, the average for-sale price in Brickell was $1,274,000 compared to $1,310,000 in May.
How Much Time are Houses Spending on the Market?
Given the increase in inventory and low sales, it’s no surprise that properties are spending more time on the market in Brickell. In June of 2025, a property for sale spent an average of 125 days on the market, compared to 105 days the previous month. That’s more time than any point of 2024, which shows just how much the real estate market has shifted in Brickell.
What This Means for Potential Buyers
The residential real estate market is impossible to predict. But, with the current circumstances, it appears that Brickell’s market is stuck in neutral. Sellers want specific prices and seem ok to let their properties sit on the market until they get the price they want.
So, if you’re looking to buy a property in Brickell for a better price than has been available for the past few years, this may be your opportunity. The future is always uncertain, but until a seller has a catalyst to sell, they seem ok waiting for now.
If you’re seriously considering buying a property in Brickell, contacting a reputable local real estate team is a great first step, and the Kern Team is happy to be of service. We’ll show you the difference between being aggressive and being unrealistic when it comes to making offers, and help you find a property that is perfect for you.
So, give us a call when you’re ready to start this next exciting chapter in your life!
