Miami's Brickell Avenue Condo Market Saddled With 18 Months of Resale Supply
The Brickell Avenue Area of Greater Downtown Miami is firmly in a buyers market as condo asking prices are overinflated by more than 300 percent at the start of the Summer Buying Season.
The Brickell Avenue Area of Greater Downtown Miami has evolved into one of the most popular neighborhoods in South Florida for residents and visitors alike.
Check out the Brickell Avenue Area condo and rental market charts at the bottom of this report exclusively for members of the Miami Condo Investing Club™.
In the last decade, the Brickell Avenue Area has dethroned South Beach - from many people’s perspective - as the top destination in the Miami metro area for shopping, restaurants and nightlife.
As a result, the Brickell Avenue Area is now a highly attractive - and expensive - place to live for both renters and condo owners.
Maybe, too expensive.
A new report from CondoVulturesRealty.com found that the Brickell Avenue Area submarket is firmly in a buyers market with more than 18 months of supply listed for resale at the start of the 2025 Summer Buying Season.
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.
The Brickell Avenue Area is one of three submarkets - along with Downtown and the Biscayne Boulevard Corridor - that together comprise Greater Downtown Miami.
The Brickell Avenue Area neighborhood is a 22-block stretch from the Eddie Rickenbacker Causeway north to the Miami River.
For context, Greater Downtown Miami is defined as the Rickenbacker Causeway north to the Julia Tuttle Causeway, and Biscayne Bay west to Interstate 95.
Condos in the Brickell Avenue Area are listed for resale for an average price of nearly $1.2 million per unit and about $828 per square foot, according to the report.
During the 2024-25 South Florida Winter Buying Season of November through April, buyers paid an average price of more than $944,325 per unit and about $714 per square foot.
This means today’s average asking prices are inflated compared to recently completed transactions by nearly 26 percent on a price per unit basis and about 16 percent on a price per square foot basis, respectively.
Typically, condos are listed for resale at an average price premium of about 20 percent.
To gauge just how overpriced condos are currently from an investors perspective, consider that the median monthly rent in the Brickell Avenue Area was $3,750 during the 2024-25 Winter Buying Season, which spanned from November through April.
Investors who adhere to the “1% Rule” would likely value Brickell Avenue Area condos at about $375,000 per unit, not the nearly $1.2 million currently being asked for units listed for resale.
This means, Brickell Avenue Area condo prices are overinflated by more than 300 percent for investors.
As a result, Brickell Avenue Area condo prices must either go down or rents need to go up to make up for the difference required to comply with the “1% Rule.”
It is worth noting, condos listed for resale in the Brickell Avenue Area have been on the market for an average of about 152 days and counting without going under contract.
A typical real estate listing lasts for about six months.
During the Winter Buying Season, Brickell Avenue Area condos transacted in less than 100 days.
Barring a dramatic drop in condo prices, the Brickell Avenue Area of Greater Downtown Miami facing a Summer Buying Season of “paralysis by analysis.”
In anticipation of a price adjustment, we have scheduled a Miami Condo Correction Walking Tour of the Brickell Avenue Area submarket at 10 AM Saturday, July 26, 2025.
This a three-hour tour that will travel about four miles at a moderate pace with stops along the route. This is a rain-or-shine event.
The objective of the tour is to provide a comprehensive understanding of the market, including a printout of condo projects, a market assessment handout and expert analysis.
Attendees will have an opportunity to ask questions and receive private consultations after the tour.
For more information on this tour or any others, please visit MiamiCondoClub.eventbrite.com.
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™.
The Club's mission is to foster a community that shares realtime, actionable intelligence on the latest real estate trends, emerging opportunities and trusted service providers throughout South Florida.
Whether you are a Do-It-Yourself (DIY) condo buyer or a seasoned real estate professional, the Club provides invaluable resources, including up-to-date statistics, expert analysis and access to tailored consulting services.
We also encourage you to explore our podcast, available on all major platforms such as Apple, Spotify and YouTube, for insightful discussions and updates.
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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Please find below a Brickell Avenue Area Condo Market Velocity Report chart and a Brickell Avenue Area Rental Market Report chart behind the paywall.