Brickell Mortgage Loan Officer

Market snapshot: ZIP 33131

MIAMI REALTORS publishes data by ZIP code, and 33131 covers Brickell along with parts of downtown. In the second quarter of 2026, condos and townhouses in that ZIP recorded 155 closed sales, down 0.6%, at a median price of $645,000, down 6.3%. The median time to contract was 129 days, up 17.3%, and sellers received 91.9% of their original list price. The report showed no single-family sales in 33131.

Next door, ZIP 33130 posted 73 condo and townhouse closings with a $555,000 median, up 0.5%. Across the City of Miami, condos carried 16.0 months of supply, down 10.1%.

Local rules: what lenders review on a tower

Fannie Mae's Lender Letter LL-2026-03 retired Limited Review for applications dated on or after August 3, 2026, which points more condo loans toward a Full Review of the project. For Full Review applications dated on or after January 4, 2027, minimum replacement reserves rise from 10% to 15% of the association's annual budgeted assessment income.

The same letter caps a master policy's per-unit deductible at $50,000 for applications on or after July 1, 2026. When the master policy carries a per-unit deductible, the borrower needs a unit owner's (HO-6) policy covering at least the greater of the uncovered interior or that deductible.

Under Fla. Stat. §553.899, condo buildings with three or more habitable stories need a milestone inspection at 30 years, or at 25 years within three miles of the coast where the local enforcement agency requires it, and every 10 years afterward. Miami-Dade also runs an older 40-year recertification program, and per MIAMI REALTORS a completed 40-year recertification counts as the milestone inspection.

For resale purchases, HB 913 gives buyers seven days, not counting weekends and legal holidays, to review association documents and cancel.

Putting it together

A practical order of operations: request the condo questionnaire, budget, reserve figures, and inspection records early, then line them up against the project rules above. The condo loan page explains the financing side, and buyers who may later rent a unit can compare DSCR options. Down payment help is covered on the first-time buyer page.