Miami's Brickell Condo Selloff: 10% Of Projects Priced Below Winter PSF Averages
Condo owners are discounting units as much as 18 percent on a price per square foot basis in the Brickell Avenue Area as the Miami submarket is flooded with 18 months of supply listed for resale.
Nearly a dozen condo projects in the Brickell Avenue Area submarket of Greater Downtown Miami now have an average asking price per square foot that is below the average transaction amount achieved during the busy 2024-25 Winter Buying Season.
A list of the 11 Brickell Avenue Area condo projects that are discounting prices is located at the bottom of this report behind the paywall.
The Brickell Avenue Area - with about 101 condo projects and nearly 30,000 units - is the premier submarket of Greater Downtown Miami, according to research by CondoVulturesRealty.com.
The average transaction price of a condo project is important as this is benchmark that buyers, sellers, appraisers and lenders rely on in the process of completing a deal, especially if financing is involved.
In an upward market, condo sellers typically ask for about 20 percent more than the average transaction price in a project and then negotiate down accordingly to get a deal done.
In a downward market, sellers are typically forced to begrudgingly disregard previous sales prices and consider a range of low-ball offers in hopes that one bid will eventually be acceptable to complete a transaction.
This new discounting trend emerged as a result of research currently underway in anticipation of this weekend’s Miami Condo Correction Walking Tour™ of the Brickell Avenue Area submarket.
During the scheduled three-hour tour at 10 am on July 26, 2025, South Florida condo expert Peter Zalewski will share insights about the current state of the Brickell Avenue Area of Greater Downtown Miami market, provide a detailed list of all condo projects within the submarket and teach attendees how to evaluate condo buildings from a pricing perspective.
This rain-or-shine tour travels about four miles at a moderate pace with stops along the way. Attendees are encouraged to dress comfortably.
The Brickell Avenue Area is defined as the Eddie Rickenbacker Causeway north to the Miami River, and Biscayne Bay west to Interstate 95.
The Brickell Avenue Area is one of three submarkets - along with the Central Business District and the Biscayne Boulevard Corridor - that together comprise Greater Downtown Miami.
For context, Greater Downtown Miami is defined as the Eddie Rickenbacker Causeway north to the Julia Tuttle Causeway, and Biscayne Bay west to Interstate 95.
The statistics show that the Brickell Avenue Area now has more than 18 months of condos listed for resale during the 2025 South Florida Summer Buying Season, which stretches from May through October, according to a recent report.
Industry watchers consider equilibrium to be about six months of supply with more months of inventory suggesting a buyers market and less months a sellers market.
Despite the discounting at 11 condo projects, the current average asking price for a Brickell Avenue Area condo is still about $831 per square foot while the average transaction price was less than $715 per square foot during the busy 2024-25 Winter Buying Season that stretched from November through April, according to the research.
It is worth nothing that we are pleased to offer a portion of our research for free to our newsletter subscribers and MiamiCondo.Club readers, providing a glimpse into our insights.
For full access to our comprehensive reports, statistical charts, virtual Monthly Meetings and exclusive MeetUp events, we invite you to join the Miami Condo Investing Club™.
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As always, our consulting, expert witness and buyside brokerage services remain available to you, building on our established reputation since 2006.
For specific information regarding discounted condo resales or bulk deals in South Florida, please visit CondoVulturesRealty.com or contact our office directly at 305.865.5859.
This information is intended for general informational purposes only and is based on research, personal experience, and interviews. It does not constitute legal advice, as we are not legal professionals. While we strive for accuracy and completeness, this information is provided on an "as is" basis, without any warranties or guarantees.
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