Nearly 100% of condos built in Brickell since 2012 have been sold, and the resale market now favors sellers, according to a new report.
The report by RelatedISG Realty shows that 5,604 condo units have been built in Brickell since 2012. Just 53 of those units have yet to be sold.
The 53 units left include 48 at Una, which is under construction with completion expected in 2025. Another 5 are left at Brickell Flatiron, the report says (developer CMC wrote on social media this week that Flatiron is sold out).
No new units are being built between now and 2024, the report says. In 2025, Una and Baccarat Residences are expected to be completed.
The existing condo market has now reached a level that favors seller, with less than 10% of inventory of the new units since 2012 available for resale.
The market has been so strong in 2021 that by May it had already surpassed sales volume seen through the entire 2020.