The Brickell Condo Market in 2018 – What is the latest status of Brickell Condos?

Confidence in the Brickell condo market has taken a dive. Many potential buyers heard about the large amount of Brickell condos for sale and owners taking hits on their sales prices. Is this true? Yes, we have a high amount of inventory in this market and we have also seen owners that needed to resell with a loss. Does this mean this is a no-go market? No! Below we explain the market, what is going on and what to look for when you want to invest in Brickell.

The average prices per SF are remaining equal while some show the smallest degree of decline

The average prices per SF per price range. This should be used as a guideline for what is being paid at this moment for Brickell condos. If you are looking at a $800,000 condo that is well finished, but has no waterviews then look at this table for guidance. If the condo is asking $700 per SF you know you will be paying over market prices.

The average prices per type of Brickell condo. This should be used as a guideline for what is being paid at this moment for Brickell condos. The lowest prices are mostly the more dated condos, while the highest prices per SF are paid for condos in top buildings such as Four Seasons, Asia, Santa Maria and Carbonell. These are mostly very well finished units with superb views.

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Generalization of a market is never good! This market report is intended to give readers a general overview of the market. I’ll have to add our usual caveat mentioning that within the Brickell condo market we see differences in performance. Some condos are performing very well (low inventory, increasing prices) and are moving, others are seeing high inventories and are not seeing any movement. Please contact me today to get more insights into the different Brickell condo towers; the good, the bad and the ugly

The 2018 Brickell Condo Market Situation

Owners of the brand new, generic units are suffering the most. They bought their residences at the peek of the market and are now suffering from a market with oversupply and less demand. Is there really less demand though? Brickell remains a very desired market in Miami, but buyers are simply not willing to pay top dollar anymore for mediocre units. The market was originally very desired with investors (should have been the first alarm bell) and buyers who needed to get the money out of their home countries for economic or socio-political reasons. The necessity to move their funds quickly resulted in a lack of scrutiny. As the dollar increased in value many of these buyers could not invest in Miami anymore. At the same time, products started to be delivered and were not what they were promised to be. The so-called luxury aspect was underwhelming and not what people expected. With very high prices per SF and less available yet more price-conscious buyers, sellers found it hard to offload their units for the money they had invested (meaning to sell they had to break-even or take a loss). Many sellers did not accept a loss, and their units were sitting on the market for a longer period of time, creating an even higher inventory.

To answer the question whether there are still buyers: Yes there are, but prices will need to come down. Buyers are not willing to pay top dollar anymore for units that do not offer ocean views, large balconies, high ceilings or have other special features that justify the price. The market got overheated and those who paid too high a price will now have to suffer the consequences. Brickell is getting more and more of a true city core with shopping possibilities, high-end restaurants, cinema and services. The market is ideal for young professionals or families working in the area and there is still demand for good product, but against market prices. Many owners that bought well before the 2012 construction frenzy will probably be able to sell well, with a profit. Those who bought the generic condos (especially those without waterviews) for top dollar, might have to be a bit more bearish.

Tips for Brickell Buyers

If you are set to invest in Brickell, then look for a quality product with good views and unique features. The condos on Brickell Key; Asia, Carbonell, and the Tequestas to name a few, have performed very well over time. Use this guide to not overpay for your Brickell unit. If a unit is not well finished and doesn’t provide for great views, make sure you do not pay much above the lower price per SF range (as indicated above). Prices are likely to come down even more in the near future, so use that knowledge to get a good discount on a unit. Call me for more insights into which Brickell condos tend to appreciate well and which are not doing so well (For legal reasons I won’t mention any here, but please call me in case you wish to learn more). In case you are not set on Brickell, give me a call for other investment opportunities elsewhere in Miami. There are areas that will provide you with better return on investment on the short and long term.

Tips for Brickell Sellers

Whether you will be able to sell well or not, depends on when and what you bought. Units at Carbonell or Asia on Brickell Key are still seeing a steady incline in prices as they are well located and offer unique characteristics. If you bought in the peek of the market into one of the newer condos you will experience a challenge to sell for more than you bought for. Try to be smart with the price you ask. You don’t want your unit to be too long on the market. Also use an agent who has a good international network. Marketing a unit to just local agent doesn’t cut it anymore in today’s world. Contact me today to see the true value of your unit and to see how we will market your unit.

For more information about Brickell or Miami condos for sale contact the David Siddons Group today

David Siddons 305.508.0899 |

David Siddons is a top producing realtor with over $60M in yearly sales. He is known as a market analyst and the author of several of Miami’s most influential and ground breaking market reports. 


These are the most commonly asked Google Real Estate Related questions

1. What are the Current Best New Condos in Miami?

If you want to hear in more details our opinions on the best new Miami new construction condos. Please read this article:Best New Construction Condos 2022-2023

2. What is the best New Construction Condo in Fort Lauderdale?

In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.

3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami? 

Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!


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