No ... only he can use the exclusion on his half ... you have not lived there for 2 out of the last 5 years.  Your new home is certainly homesteaded as your personal residence.  Talk to a local RE attorney  and/or a tax professional   to see if  you may be able to quit claim the home to him BEFORE the sale  and then you will only need to file a gift tax return on the gift of equity where you would owe no taxes. 

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@nsiraser wrote:

....would I be able to take the exclusion law for my half of the profit even though I technically am not using this home as my primary residence?

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No, you will not be eligible for the exclusion since you did not use the home as your main home for the requisite period.

See https://www.irs.gov/taxtopics/tc701

since the property has not been your primary residence in any 2 out of five years before the sale, you are not entitled to any exclusion. 

your brother should be entitled to the full exclusion

thank you