What Actually Sold in the Last 90 Days (And Where the Market Is Quietly Stalling)
I’ve lived in and worked in Brickell and Coconut Grove for close to 20 years. I’ve seen strong markets, slow markets, and everything in between. The current market feels different. So I asked myself—what is actually trading?
Brickell and Coconut Grove each span multiple zip codes, but for consistency, I focused this analysis on 33129 and 33133. I pulled the last 90 days of closed sales in 33129 and 33133 for properties over 2,500 square feet to see what buyers are actually agreeing to right now.
Not list prices. Not strategy. Real contracts that made it to the finish line.
The Numbers
Waterfront Single Family Homes
Average price per square foot: ~$3,593
Median price per square foot: ~$2,298
Average days on market: ~408
Median Days on Market: ~410
Non-Waterfront Single Family Homes
Average price per square foot: ~$1,045
Median price per square foot: ~$1,009
Average days on market: ~140
Median days on market: ~120
Condos (Non-Waterfront)
AAverage price per square foot: ~$656
Median price per square foot: ~$657
Average days on market: ~124
Median days on market: ~67
And One Important Detail
There were no condo sales above ~$750K in 33129 in this timeframe, and no clearly identified waterfront condo closings in the data. How do I read that? This is not one market. It’s three and they’re moving in completely different directions.
The Waterfront Market Is Expensive and Quiet
Yes, the price per square foot is high. But homes are sitting for over a year. That’s not a fast market. It’s a selective one.
Buyers at this level are not reacting to listings. They’re waiting for something very specific and if it’s not right, they pass.
Non-Waterfront Homes Are Carrying the Market
This is where the real activity is. Not fast. Not aggressive. But steady. Homes that are priced correctly are trading. Homes that aren’t are sitting. There’s very little forgiveness right now on pricing.
Condos Have a Ceiling, and It’s Showing
This is where things get more interesting. There is movement at lower price points. But once you push up, the market slows down quickly.
In 33129, no properties over 2,500 square feet closed above roughly $750K in the last 90 days. That’s not a coincidence. That’s buyer resistance.
At the same time, condos are trading at a significant discount to single family homes on a price per square foot basis. Buyers are making a choice, and right now, many are choosing space and land over amenities.
And Then There’s What’s Missing
I also looked for waterfront condo sales (>$750k, >2,500sf). None showed up clearly in the closed data. Either activity is extremely limited, or it’s not being captured in a way that reflects what’s actually happening on the ground.
Both matter, because this highlights something people don’t talk about enough—the data only tells part of the story. Some activity (especially pre-construction or off-market deals) may not show up here.
Knowing how to read what’s not there matters just as much as knowing how to read what is.
The Bigger Picture
There’s a lot of focus right now on how listings are marketed. Private networks. Early access. Controlled exposure.
But none of that changes this—the market clears at the price a buyer is willing to pay. And right now, that number is not always lining up with where things are listed. That gap is where deals are getting negotiated, or not happening at all.
What This Means If You’re Buying or Selling
If you’re buying: There is opportunity right now, but it depends on where you’re looking. Some segments give you leverage. Others don’t.
If you’re selling: You can’t rely on old pricing assumptions. The difference between testing the market and missing it is getting smaller.
Guidance matters more than ever.
A Quick Note on the Areas Themselves
Coconut Grove has always had its own identity. It’s one of Miami’s oldest neighborhoods, with a mix of historic homes, newer construction, and a more laid-back, residential feel that’s hard to replicate.
Brickell, especially north of 14th Street, has evolved differently. It’s become more vertical, more dense, and more driven by condo living and new development.
You’re also seeing serious long-term capital being committed in this part of the market from David Martin at Terra to Ken Griffin with Citadel’s growing presence in Brickell. Both have invested personally with waterfront homes in 33129.
That contrast between the two neighborhoods matters when you look at the data.
Over the last 90 days, the majority of closed sales in Brickell (33129) were condos, while Coconut Grove (33133) remained heavily weighted toward single-family homes.
Because buyers aren’t just choosing a property. They’re choosing how they want to live day to day.
Final Thought
Volume is low right now in Brickell and the Grove. And that matters more than people think. When fewer deals are happening, each one carries more weight. Each sale shapes the next. This is not a market where pricing is flexible after the fact. You either meet the market or you sit in it.
I spend a lot of time in these neighborhoods, and I’m in these conversations every day.
If you want to understand what’s actually trading, where buyers are pushing back, and where there may be real opportunities, I’m happy to walk through it with you.
Barbara Gretsch
REALTOR® | Berkshire Hathaway HomeServices EWM Realty
📍 Miami, Florida
📧 barbaragretsch@gmail.com
📱 +1 773-208-2992
WhatsApp: +1 773-208-2992
Barbara Gretsch is a REALTOR® with Berkshire Hathaway HomeServices EWM Realty, serving Miami and South Florida’s $1M+ residential market, including Coconut Grove, Coral Gables, The Roads, Brickell, Key Biscayne, and Miami Beach. barbaragretsch.com