The Biscayne Boulevard Corridor submarket of Greater Downtown Miami seems poised to finally evolve into a destination - rather than a cheaper alternative to the Brickell Avenue Area - for condo buyers.
Check out the Biscayne Boulevard Corridor Submarket Condo Velocity Report at the bottom of this report exclusively for members of the Miami Condo Investing Club™.
For decades, this 24-block stretch from the MacArthur Causeway north to the Julia Tuttle Causeway, and Biscayne Bay west to Interstate 95 was considered less that prime, resulting in the perception that the Biscayne Boulevard Corridor was a starter market for condo buyers in Greater Downtown Miami.
The slow but steady metamorphosis of the emerging Edgewater, Midtown and Wynwood neighborhoods since the Great Recession has worked to change opinions and reposition the Biscayne Boulevard Corridor submarket into a destination for fulltime residents, especially newly arrived transplants.
For that reason, the first Miami Condo Correction Tour of the 2025 South Florida Summer Buying Season will be a three-hour walking tour of the Edgewater, Midtown and Wynwood neighborhoods at 10 AM Saturday, May 31, 2025.
In anticipation of the four-mile tour, we ran the numbers for the Biscayne Boulevard Corridor and found the submarket has:
Nearly 70 condo towers planned, under construction or completed;
About 14,250 planned, under construction or completed units, representing about 27 percent of the Greater Downtown Miami total of nearly 53,000 units;
And about 10 new condo projects planned or under construction.
Our CondoVulturesRealty.com research also discovered that the Biscayne Boulevard Corridor submarket is currently in a buyers market with about 22 months of supply listed for resale in the 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.
Condos in the Biscayne Boulevard Corridor are listed for resale for an average price of more than $1.1 million per unit and about $771 per square foot, according to the research.
During the 2024-25 South Florida Winter Buying Season of November through April, buyers paid an average price of more than $859,600 per unit and about $667 per square foot.
This means today’s average asking prices are inflated by more than 30 percent on a price per unit basis and nearly 16 percent on a price per square foot basis.
Typically, condos are listed for resale at an average price premium of about 20 percent.
It is worth noting, condos listed for resale in the Biscayne Boulevard Corridor have been on the market for an average of 164 days and counting without going under contract.
A typical real estate listing lasts for about six months.
During the Winter Buying Season, Biscayne Boulevard Corridor condos transacted in less than 110 days.
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 Biscayne Boulevard Corridor Condo Market Velocity Report Chart behind the paywall.
