Miami Housing Market Report 2026: Data, Trends & Expert Analysis

Median Home Prices: Miami-Dade County 2026

Miami-Dade's residential market shows bifurcated performance by price tier in 2026:

• Median single-family home price: approximately $680,000-$720,000 (up 4-6% year-over-year)
• Median condo/townhome price: approximately $420,000-$470,000 (up 2-4% year-over-year, moderated by some condo-specific pressures)
• Luxury ($3M+) single-family: appreciation has moderated to 3-7% after the peak years, but remains positive
• Price per square foot (median, condos): $450-$600 across the county; significantly higher in premier submarkets

Inventory and Supply Dynamics

Miami's inventory picture shows meaningful divergence by segment:

• Single-family inventory remains structurally tight — months of supply in top school districts has stayed below 3 months (sellers' market threshold)
• Condo inventory has increased meaningfully, particularly in segments where condo safety law requirements are creating seller urgency
• New construction is adding supply primarily at the ultra-luxury tier — not addressing mid-market affordability
• Off-market transactions remain significant in the luxury segment — listed inventory understates available supply

Days on Market Trends

Days-on-market (DOM) increased from the extreme 2021-2022 lows (some properties sold in days) to a more normalized pace:

• Entry-level and mid-market ($400K-$1M): 30-60 days for accurately priced properties
• Luxury ($1M-$5M): 60-120 days depending on neighborhood and product type
• Ultra-luxury ($5M+): 90-180+ days — thin buyer pool at this price tier
• Properties that are overpriced relative to market are taking 180+ days and often requiring significant price reductions

Interest Rate Impact on Miami Real Estate

The Federal Reserve's rate path has shaped Miami's market in 2026. With the 30-year fixed mortgage rate stabilizing in the 6.5-7.5% range (vs. sub-3% pandemic lows), affordability has been compressed for financed buyers. However, Miami's luxury market is largely cash-driven — over 60% of transactions above $3M are cash purchases — insulating the luxury segment from rate sensitivity. First-time and mid-market buyers have been more significantly affected.

Neighborhood-Level Market Performance

Performance varies significantly by neighborhood:

• Coral Gables single-family: strong seller's market, low inventory, average DOM under 45 days for quality properties
• Brickell condos: bifurcated — new ultra-luxury towers performing well; older buildings facing assessment-related headwinds
• Coconut Grove: tight inventory, strong family buyer demand, consistent appreciation
• Edgewater: increased condo inventory creating more buyer leverage; good value relative to Miami Beach
• Miami Beach: condo market stabilizing after peak years; beachfront single-family remains extremely tight