Brickell Condo Market – Oct. 2018

Despite a strong dollar, increased inventory and a rising interest rate environment, strong activity continued in the Brickell Condo Market during the month of October of 2018.  Sellers seem to be accepting lower priced offers as the average selling price dropped from $450/sq.ft. in Oct. 2017 to $415/sq.ft. during Oct. 2018.  Key stats:

  • Inventory increased 8% from Oct. 2017 to Oct. 2018
  • Sales activity increased by 12% from Oct. 2017 to Oct. 2018
  • The rate of monthly inventory absorption improved slightly from 29 months worth of inventory in Oct. 2017 to 28 months in Oct. 2018