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Have The Condo Values Peaked In Brickell And Is It Time To Sell my Brickell Condo?
“What is happening with the Brickell condo market?” and “Should I sell my Brickell condo” are often heard questions these days. Brickell, Miami’s poster child of the latest real estate boom, is seeing high amounts of inventory and correcting prices. Many of Brickell’s brand new luxury condos were bought by investors with the idea of “flipping” their unit right after the condo was delivered. With 1000’s of units being bought with the idea to resell, you can imagine the massive over-supply the Brickell market has experienced in the last 2 years. Besides this, the (inter)national media reporting negatively on the status of the Miami or Brickell real estate market doesn’t help this market either. As many of these reporters do not live in the city and do not experience the Brickell condo market on a daily basis, their opinions are mostly generalized and over dramatized opinions in order to attract readers.