Brickell In South Florida Is Officially A Seller’s Market
According to the 2021 South Florida Brickell report by RelatedISG Realty, a general real estate firm based in Aventura with offices throughout Miami-Dade and Broward Counties, the Brickell submarket is officially now a seller’s market, Florida YIMBY reports. According to the report, demand has exceeded supply, which currently sits at just 1% of the total units that have been built since 2012, meaning 99% of the units have been sold. As of June 2021, only 53 of the 5,657 available units since 2012 are left in this submarket. These include 48 from the upcoming Una Residences, and the five remaining at Brickell Flatiron. Considering projects like Una Residences and Related’s Baccarat Residences won’t be complete until at least 2025, there won’t be any new inventories, thus transitioning Brickell into a seller’s market, at least until new units hit inventory in 2025. The recent sell out of Swire Properties’ Reach and Rise Residences at Brickell City Centre, which was brokered by RelatedISG Realty, played a big role in achieving the near 100% sell out of Brickell inventory.