Brickell Condos – July 2019
If the trend of decreasing inventory continues, the investor alert alarm should be ringing loud and clear for the Brickell condo market. For more or less the last 2 years condo re-sales have been waging a losing battle with new developments. Since few developments are slated for the near future, re-sales have come to the forefront . Stats as follows :
- Inventory dropped 9% from July 2018 to July of 2019. To add some perspective, since October 2018, inventory has dropped 11%, 284 units less, to July 2019 .
- Total Sales dropped 27% from July 2018 to July 2019
- Inventory absorption worsened from 22 months worth of inventory during July 2018 to 28 months during July 2019