Is Brickell, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Brickell was a Seller's Market.
Key Takeaway
Brickell is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Brickell, FL
How much do homes in Brickell, FL cost?
Median Sold Price
$699,153
$659/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Brickell have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Brickell was $699,153 in May 2024, up 9.5% from last year, and the median price per square foot was $659.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $480.7K | $510K | +6.1% |
| 2 Bedrooms | $705K | $770K | +9.2% |
| 3 Bedrooms | $1.3M | $1.3M | +5.4% |
| 4 Bedrooms | $2.6M | $3.0M | +15.6% |
| 5+ Bedrooms | $2.7M | $3.5M | +30.4% |
Summary: Brickell housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 30.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Brickell Estates | $790K | $1.0M | +28.5% |
| Brickell | $638.2K | $699.1K | +9.5% |
| Little Havana | $300K | $325K | +8.3% |
| Brickell Key | $740K | $800K | +8.1% |
| Downtown | $575K | $561.3K | -2.4% |
Housing Supply in Brickell, FL
How many homes are available in Brickell, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 956 | 1,035 | +8.3% |
Summary: The Brickell real estate market had 1,035 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 302 | 336 | +11.3% |
| 2 Bedrooms | 440 | 469 | +6.6% |
| 3 Bedrooms | 155 | 167 | +7.7% |
| 4 Bedrooms | 43 | 44 | +2.3% |
| 5+ Bedrooms | 16 | 19 | +18.8% |
Summary: The Brickell housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 87 | 84 | -3.4% |
Asking Price vs. Sold Price
72 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brickell, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 84 homes were sold or pending in Brickell in May 2024, down by 3.4% month-over-month. Of the 84 sold homes, 86% were sold under asking, 12% were sold at asking, and 2% were sold over asking.
Days on Market for Brickell, FL
How long does it take to sell a home in Brickell, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 77 Days | 86 Days | +11.8% |
Summary: Homes in Brickell had an average of 86 days on market in May 2024, up by 11.8% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
31 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Brickell are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 84 homes were sold in Brickell; 29% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.
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