Miami-Dade County’s housing market demonstrated sustained momentum in January, marking the fifth consecutive month of sales increases. The latest data from the MIAMI Association of REALTORS® indicates a notable rise in overall home sales, driven by strong performance in the single-family home sector and a significant surge in transactions exceeding $1 million.
Key Takeaways
- Total home sales experienced a 1.2% year-over-year increase.
- Single-family home sales saw a 2.8% rise.
- Transactions over $1 million, including condos, surged by 21%.
- Median sale prices for single-family homes and condos both saw increases.
January Sales Performance
In January, total home sales in Miami-Dade County climbed to 1,869 transactions, a 1.2% increase compared to the same period last year. Single-family home sales also showed positive growth, rising by 2.8% to 661 transactions. The luxury market segment was particularly robust, with sales exceeding $1 million jumping by 21% to 199 transactions. This surge was mirrored in the high-end condo market, where sales over $1 million increased by 21%, from 103 to 125 units.
However, the existing condo market overall experienced a slight decline of 0.1%, with sales dropping from 733 to 732. Despite this minor dip, sales of affordable condos priced between $500,000 and $600,000 saw a marginal increase from 67 to 68.
Market Trends and Expert Outlook
The median sale price for single-family homes in Miami-Dade rose by 3.7%, reaching $699,990 from $675,000. Condo prices also saw an uptick, moving from $415,000 to $420,000.
MIAMI Chairman Alfredo Pujol highlighted Miami’s appeal, stating, "Miami is where the world wants to be. Miami is the preferred home for billionaires." He pointed to exclusive communities like Miami’s Billionaire Bunker, which now hosts prominent figures such as Meta CEO Mark Zuckerberg and Amazon founder Jeff Bezos.
MIAMI REALTORS® Chief Economist Gay Cororaton attributed the strong start to 2026 to falling mortgage rates in late 2025 and robust demand from high-end buyers. Cororaton anticipates further market strengthening in the coming months, driven by continued mortgage rate decreases and an acceleration of wealth migration from states like New York and California, potentially influenced by tax policy changes.