Published October 18, 2026 in Market Update

Brickell condo supply is still high, even after inventory fell

By Shelia Gasson

Real estate, Brickell market

These numbers cover the three months ending August 31, 2026. I'm writing this on October 18, 2026, using the latest data I have for Brickell.

The one fact that changes what a seller should do right now: supply in Brickell is still well above a year. The Real Estate Data Aggregator counted 1,088 homes for sale across the two Brickell ZIP codes combined. That's down 17.7% from a year ago, which sounds encouraging. But 1,088 homes for 239 sales in a quarter is still a lot of competition. If you're selling, your price and your specific building matter more than the neighborhood headline.

Here's the part that gets missed when people talk about 'Brickell.' The two ZIP codes that make up this market are not the same. ZIP 33131 had 13.5 months of supply, according to the Real Estate Data Aggregator. ZIP 33130 had 14.8 months. Both are well above what most agents would call a balanced market. MAR reported 10.2 months of supply for existing condominiums across the broader market area as of October 16, 2026. Brickell runs higher than even that.

What the days on market tell you

Homes that sold in ZIP 33131 took a median of 157 days, according to the Real Estate Data Aggregator. That's 27 days longer than the same period a year ago. In ZIP 33130, the median was 170 days, which is 68 days longer than a year ago. That second number is the one I'd watch. A jump of 68 days in one year means something changed. It could be price, it could be building quality, it could be a shift in who's buying. It's almost never just one thing.

Prices held, mostly

The median sale price in ZIP 33131 was $634,500, down just 0.9% from a year ago, per the Real Estate Data Aggregator. In ZIP 33130, the median was $560,000, unchanged from a year ago. So prices haven't collapsed. But sellers in both ZIPs accepted about 94 to 95 cents on the dollar. The Real Estate Data Aggregator put the average sale-to-list ratio at 94.1% in ZIP 33131 and 95% in ZIP 33130. Almost no one got above asking: just 1.3% of sales in 33131 and 1.2% in 33130 closed above list price.

More sales, fewer new listings

The Real Estate Data Aggregator counted 239 homes sold across both Brickell ZIPs combined, up 5.8% from a year ago. That's a real improvement. At the same time, new listings fell 6.7% to 557. Fewer new listings coming in while more homes sell is exactly how supply starts to come down. It's working, slowly. Pending sales across both ZIPs were 250, up just 0.4% from a year ago, so the pipeline is moving but not surging.

The wider picture

MAR reported 12.3 months of supply for existing condominiums across Miami-Dade as of October 16, 2026. That's already a buyer's market by the standard definition. Brickell's two ZIPs run above even that. For context, MAR also reported that Miami condo sales near a $400,000 median price are up 15% year over year. That's the more affordable end of the condo market, not Brickell's price range, but it shows where buyer interest is concentrating right now.

Freddie Mac put the 30-year fixed rate at 7.40% as of October 15, 2026. That affects how much a financed buyer can spend. It also matters for FHA financing: MAR reported only 21 condo buildings approved for FHA loans across Miami-Dade, Broward and Palm Beach counties as of October 16, 2026. If your building isn't on that list, you're limiting your buyer pool to cash and conventional financing.

What this means for you

If you're selling in Brickell, supply is still high enough that buyers have real choices. They will compare your unit against others in your building and in competing buildings. Price is the first filter, but the building itself is close behind. Amenities, financials, special assessments and FHA status all show up in a buyer's offer.

If you're buying, 13 to 15 months of supply means you have time. You can compare one building against another without rushing. That said, the small share of homes going under contract within two weeks, just 4.8% in ZIP 33131 and 4.9% in ZIP 33130 per the Real Estate Data Aggregator, tells you that well-priced units in good buildings do move. The market rewards preparation, not speed.