top of page
Owner Sign In

Market Update for Brickell, Downtown Miami and Edgewater

Data powered by Florida Realtors.


Brickell, Miami, 33131

Inventory has moved slightly up but it remains a seller's market with higher sold prices, fewer closed deals, and new listings from March 2022

April 2022

March 2022

February 2022

Closed Sales

155

​184

149

Average Sale Price

$903,709

$801,520

​$826,481

Median Time to Contract

​30 Days

​29 Days

​44 Days

New Listings

​176

201

176

Active Inventory

363

360

344

Months Supply of Inventory

2.3

2.2

2.2






Downtown, Miami, 33132

Inventory has remained the same, it's currently a neutral market edging into a seller's market. There have been fewer new listings, sold prices have increased but closed sales have decreased from March 2022.

April 2022

March 2022

February 2022

Closed Sales

​91

119

57

Average Sale Price

​839280

​604744

757877

Median Time to Contract

​33 Days

21 Days

​49 Days

New Listings

92

129

114

Active Inventory

254

253

271

​​Months Supply of Inventory

3.1

3.1

3.1








Edgewater, Miami, 3313

Inventory has remained about the same, it's currently a neutral market edging into a seller's market. There are more new listings, sold prices have slightly decreased and closed sales have decreased from March 2022.

​April 2022

March 2022

February 2022

Closed Sales

​72

111

84

Average Sale Price

$855,100

$875,363

​$793,638

Median Time to Contract

​56 Days

​55 Days

​62 Days

New Listings

​92

73

100

Active Inventory

​248

243

301

​​Months Supply of Inventory

3.2

​3.1

4







My opinion

Condo prices have continued to increase in the Brickell, Downtown Miami, and Edgewater areas, as buyers continue to move to the area. Many reports say that prices are expected to continue to climb with the Miami real estate market being less likely to be affected by the anticipated change in economic conditions. However, I believe prices will either become more stable or we may see a slight decrease with interest rates continue to climb. I believe sellers will become the ones with FOMO and we will see more listings come to the market while buyers began to wait it out for better prices and interest rates. I do believe higher rent prices will keep many buyers in the market and we will begin to see more foreign buyers coming back to Miami.

Comments

Rated 0 out of 5 stars.
No ratings yet

Add a rating

List with a agent that built a platform for you to sell or rent more seamlessly.

Thanks for subscribing!

Subscribe to our newsletter! Be the first to know when new articles drop.

Topics you're interested in

Learn more about buying, selling, renting and owning a condo in Miami.

Person viewing their listing dashboard.

Transparent, modern real estate created by an agent with all the real estate pain points in mind.

Elevate Your Listing with a Dynamic Listing Page, Secure Instant Offers, Analyze Stats, and Navigate Transactions with Confidence.

bottom of page