Miami’s real estate market experienced a robust surge in home sales during March, marking a substantial increase both month-over-month and year-over-year. This uptick signals a renewed engagement from buyers and sellers as the spring market officially kicks off, according to the latest REMAX National Housing Report.
Key Takeaways
- Miami home sales saw a 37.7% increase from February to March and a 10.4% rise compared to March of the previous year.
- Nationally, the 50 metro areas surveyed by REMAX recorded their largest monthly sales gain in three years, up 31.6%.
- Inventory levels saw a modest increase, while the months’ supply of homes decreased slightly.
- Median sales prices experienced moderate growth both monthly and annually.
March Sales Performance
The REMAX National Housing Report indicates that Miami home sales experienced a significant jump of 37.7% from February to March. This follows a healthy 13.4% monthly gain in February. On an annual basis, sales were up by 10.4% compared to March of the previous year.
Nationally, the trend was also positive, with home sales across 50 surveyed metro areas achieving their largest monthly increase in three years, climbing 31.6%. Annually, national transactions saw a 3.4% increase.
Inventory and Pricing Trends
The number of homes available for sale in Miami rose by 4.5% month-over-month and 4.4% year-over-year in March. While new listings saw a substantial 29% increase from the previous month, they were down 4% compared to the same period last year.
The months’ supply of inventory stood at 2.3 months in March, a decrease from 2.8 months in February but an increase from the 2 months recorded in March 2025. This suggests a tightening supply relative to the increased sales activity.
Nationally, the median sales price reached $440,000, a 2.3% or $10,000 increase from the previous month. Year-over-year, the median price saw a 1.1% or $5,000 increase. The average close-to-list-price ratio remained strong at 99%, consistent with March 2025 and an improvement from 98% in February.
Market Outlook
Chris Lim, REMAX President and Chief Growth Officer, commented on the March data, stating, "March’s increase in sales is a signal that buyers and sellers are re-engaging as the spring market gets underway." He added that the moderate price growth and inventory changes might indicate a market shifting towards balance rather than pure momentum, suggesting a future defined more by precision than speed.