Brickell Condo Market April 2019

Improvement on the Horizon…

Despite a drop in total number of sales from last year, overall activity for Condos in the Brickell area seems to be on a slow mend as inventory has reached its lowest level during the calendar year that goes from April 2018 to April 2019. In fact, inventory has been steadily dropping since October of 2018. The main drivers of this improvement are a growing US economy and developers having stopped bringing new properties on the market in the area. Key stats as follows:

  • Total Inventory dropped 1% from April 2018 to April 2019
  • Total sales dropped 13% from April 2018 to April 2019. Yet, from last month, sales rose almost 47%
  • Inventory absorption remained relatively steady from 20 months worth of inventory during April 2018 to 21 months during April 2019