We all know Miami's real estate market has been on fire for years — fueled by low inventory, high demand, out-of-state buyers, and a post-pandemic rush for sun, space, and flexibility. It’s been like watching a bidding war unfold at a Cuban cafecito stand — fast, intense, and with a little drama. But as we move through mid-2025, we’re starting to notice some changes — particularly in places like Downtown Dadeland, Brickell, and even parts of Coral Gables.
If you're a homeowner, potential seller, buyer, or investor, it’s worth paying attention. Let’s break down what’s happening — and no, it’s not a crash. It’s more like the market finally decided to take a deep breath and sip some iced coffee.
What We’re Seeing in Kendall and Downtown Dadeland
Let’s start with Kendall — more specifically, Downtown Dadeland. A year ago, you could list a 2-bedroom condo in the mid-$400s and it’d be pending before you finished your cafecito. Today? Some of those same units are lingering — like that one guest who won’t leave the barbecue.
We’re seeing:
More listings than usual for this time of year
Price reductions — which were basically taboo in 2022
Buyers negotiating again instead of blindly saying, “I’ll take it!”
This doesn’t mean prices are falling off a cliff, but the sense of urgency has definitely left the building. According to MLS trends, the average Days on Market (DOM) for a Downtown Dadeland condo has gone from 14 to 47 over the past 12 months.
Here’s a real example from my own experience: I listed a 2-bedroom, 2-bath condo in one of the Dadeland towers. It was actually a referral from a friend’s family member. Even though my professional judgment told me the original price wasn’t viable, the seller insisted on listing it in the high $500s — well above what the comps supported.
Out of respect for the relationship and with the hope that we could pivot if needed, we made a deal: if there was no movement, we’d revisit the price in a month. I wanted to give them a fair shot, but I also knew from experience that buyers weren’t going to jump at that number..
Sure enough, we made a small reduction — but not enough. I still felt more was needed based on market data. Because here's the truth: it's not about what you think your home is worth. It's about what the market says it's worth.
Six months later, with plenty of showings but no offers, the seller finally received one — under $500K — on the very last day of the listing agreement. The seller turned it down, saying it was “too low.” But that offer was actually what the market was trying to tell us the entire time.
Later, when he relisted with another real estate agent, the listing price was set $10,000 lower than that “lowball” offer he passed on. Lesson learned: the market speaks clearly… it’s just that sometimes we don’t want to listen.
And let me be clear — I truly tried to make that deal happen. Right up until the last hour of the last day, I was working to bridge the gap, encouraging the seller to consider the offer seriously. I wasn’t just trying to close a deal — I was trying to help him avoid exactly what ended up happening. I knew where the market was heading. Inventory was rising, buyers were pulling back, and if the momentum kept shifting, future offers wouldn’t be better — they’d be worse.
Would I take the listing again? Sure — but only if it’s priced where the market wants it, not where someone’s gut or guess says it should be. I don’t believe in wasting my time, or anyone else’s, chasing a number the buyers just aren’t willing to pay.
Out of curiosity, I recently checked — the property is still on the market. And yes, the current price is still too high. Buyer demand and the market’s opinion of value haven’t changed — but unfortunately, neither has the seller’s.
Brickell: Luxury... and a Lot of It
Brickell has always had its swagger — with shiny towers, rooftop bars, and price tags to match. But here’s the thing: we might finally have too much of a good thing. When too many new units hit the market, the whole “limited inventory” pitch loses its punch.
As of June 2025, Brickell is seeing:
* Rising inventory, especially in newer buildings finished post-2020
* Investors pulling back thanks to interest rates that make your credit card look friendly
* Owners pivoting to renting instead of selling
That’s creating a softening effect, especially for units priced above $700,000. Well-priced one-bedrooms still move, but that wild energy of buyers fighting over a 650-square-foot condo with no view? It’s gone. We miss it... sort of.
Coral Gables: The Market With Manners
Ah, Coral Gables — where homes have character, trees have names, and the vibe is always "elegant but never trying too hard." It hasn’t been as chaotic as Brickell or Downtown Dadeland, but it’s definitely cooling in its own polite, buttoned-up way.
Here’s what’s happening:
* Price sensitivity is real. Overprice it? Crickets.
* Sellers are offering concessions. Yes, actual incentives — who knew?
* Buyers are taking their time, asking about roofs, insurance, and even reserves if it’s a condo
The cost of ownership in The Gables is no joke. Between updates and rising insurance premiums, buyers are starting to ask themselves: “Do I want charm or do I want air conditioning that works?”
What’s Causing the Slowdown?
Four key things are pulling the market back down to earth.
Higher Interest Rates
The Fed is hinting at rate cuts, but mortgage rates are still chilling around 6.5–7%. That makes a big difference. A $600,000 loan at 3% used to cost around $2,530/month. Now? It’s closer to $3,890. That’s not just sticker shock — that’s a whole car payment’s worth of shock.
Stricter Lending for Condos
If your building hasn’t completed its SIRS (structural integrity reserve study), has maintenance issues, or low reserves? Financing may be a no-go. Fannie Mae and Freddie Mac are basically asking: “Do you even budget, bro?”
Insurance Premiums
Spoiler alert: they’re up. Way up. Especially for older buildings near water. We’re talking 20–60% hikes in some areas. That turns your “affordable” condo into a monthly budget buster, fast.
Buyer Fatigue
After two years of frantic bidding, buyers are tired. Tired of waiving inspections. Tired of overpaying. Tired of calling five lenders just to get pre-approved. Now? They’re taking a breath, maybe renting for another year, maybe waiting for the Fed to blink.
Is This a Buyer’s Market?
Well… kind of. But don’t expect sellers to start throwing in patio furniture and pastelitos just yet. What we’re really seeing is a balancing market — where neither side gets to call all the shots.
In areas like Kendall and Coral Gables, sellers still have an edge if the home is move-in ready and priced like it belongs in 2025, not 2022. But buyers are pushing back, negotiating, and asking real questions. (“So… does the roof leak or is that just ‘character’?”)
But here’s the twist: it depends entirely on property type.
Single-family homes are still moving. If they’re clean, updated, and under $800K? They’ll probably sell faster than your favorite pan con bistec on a Sunday afternoon.
Condos? That’s where things get stickier. Especially in older buildings or ones with rising HOA fees, special assessments, or financing hiccups. In places like Brickell or Downtown Dadeland, condos are starting to look like a buyer’s playground — assuming the buyer has cash, patience, or both.
Bottom line: buyers are no longer panicking. Sellers can still win — but they need to show up with realistic pricing and decent curb appeal.
Thinking of Selling? Here’s What Works in 2025
* Price it right — Look at sold comps, not wishful thinking.
* Fix the easy stuff — Touch-up paint, clean grout, that weird light switch that does nothing.
* Know your numbers — Especially in a condo. HOA fees, reserves, and insurance coverage are dealmakers or dealbreakers.
What About Investors?
Investors are eyeing long-term rentals, duplexes, and townhomes like a kid at a piñata party — carefully, but ready to swing. The days of flipping condos for quick cash are slowing down unless you find a unit in distress (financially, not emotionally).
If you’re buying a condo, you need to be extra sharp: read the financials, ask about reserves, and don’t be afraid to walk away if it smells like a money pit.
Final Thoughts
Miami’s market isn’t crashing — it’s just switching from stilettos to orthopedic sandals.
Still moving, just a little more sensibly. For buyers, this means more options and fewer bidding wars. For sellers, it means time to be strategic. And for investors? Now’s the moment to hunt for opportunities instead of chasing trends.
If you’re in Kendall or the surrounding areas and want to understand what your home is worth — or whether you should sell, rent, or just sit tight — I’m happy to help. No pressure, no pushy sales lines. Just real numbers and a bit of Miami humor to get you through the decision.
Let’s make your next move a smart one — and maybe even a little fun.
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