Is Brickell Key, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Brickell Key was a Seller's Market.
Key Takeaway
Brickell Key is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Brickell Key, FL
How much do homes in Brickell Key, FL cost?
Median Sold Price
$800,000
$660/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Brickell Key have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Brickell Key was $800,000 in May 2024, up 8.1% from last year, and the median price per square foot was $660.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $480K | $515K | +7.3% |
| 2 Bedrooms | $750K | $825K | +10.0% |
| 3 Bedrooms | $1.4M | $1.6M | +13.6% |
| 4 Bedrooms | $2.2M | $3.1M | +40.2% |
| 5+ Bedrooms | $7.0M | $3.5M | -49.7% |
Summary: Brickell Key housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 40.2%, and 5+ bedroom homes decreased by 49.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Brickell | $638.2K | $699.1K | +9.5% |
| Brickell Key | $740K | $800K | +8.1% |
Housing Supply in Brickell Key, FL
How many homes are available in Brickell Key, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 110 | 117 | +6.4% |
Summary: The Brickell Key real estate market had 117 homes for sale in May 2024, a 6.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 33 | -5.7% |
| 2 Bedrooms | 50 | 52 | +4.0% |
| 3 Bedrooms | 18 | 24 | +33.3% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Brickell Key housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brickell Key, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Brickell Key in May 2024, the same as the previous month. Of the 11 sold homes, 82% were sold under asking, 18% were sold at asking, and 0% were sold over asking.
Days on Market for Brickell Key, FL
How long does it take to sell a home in Brickell Key, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 62 Days | 59 Days | -5.5% |
Summary: Homes in Brickell Key had an average of 59 days on market in May 2024, down by 5.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brickell Key are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Brickell Key; 45% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.