Miami-Dade County recorded 24 residential sales priced at $30 million or more through September 2026, surpassing its previous full-year high of 21 transactions. The record-breaking luxury activity came as overall September home sales dipped, mortgage rates climbed and housing inventory continued to tighten across the county.
Key takeaways
- The 24 sales through September exceeded the 2025 annual record by 14.3%.
- At the current pace, Miami-Dade could reach 32 sales at this price level by year-end.
- Countywide September sales fell 2% year over year, even as total dollar volume rose.
- Cash purchases and international demand remain important to the high-end market.
Luxury sales set a new benchmark
The transactions included single-family homes and condominiums. MIAMI REALTORS® + RWorld said the county had already passed its prior annual record after nine months, reflecting continued activity among affluent buyers. The organization’s chairman, Alfredo Pujol, described the ultra-luxury market as strong while noting that homes are available at lower price points across the region.
The reported pace points to a possible 32 sales of $30 million or more by the end of 2026. The figures cover existing residential sales reported through the organization’s market statistics; new-construction and pre-construction deals are largely not captured in the MLS totals.
Broader sales softened as rates rose
Miami-Dade recorded 1,733 home sales in September, down 2% from 1,769 a year earlier. Single-family transactions declined 4.7% to 824, while condominium sales edged up 1% to 909. The report attributed softer activity in part to mortgage rates reaching 7.46% by October 13, nearly 0.6 percentage points above their level at the start of September. Hurricane-related uncertainty and limited inventory in some price ranges also weighed on transactions.
Despite fewer sales, the total dollar volume increased 15.41% year over year to $1.8 billion. Single-family sales generated about $1.2 billion, and condominium sales accounted for $724 million.
Prices and inventory show a divided market
The median single-family sale price rose 4.06% from a year earlier to $692,000. The median condominium price slipped 0.69% to $417,090. Compared with 2011, the reported medians were up 300.7% for single-family homes and 267% for condos.
Active listings fell 10.1% year over year to 16,242 at the end of September. Single-family inventory was down 16.6%, and condominium inventory declined for an eighth consecutive month. The report put single-family supply at 5.1 months, consistent with a seller’s market, while condo supply stood at 12.3 months, indicating more favorable conditions for buyers in that segment.
Cash and international buyers support the high end
Cash purchases made up 38.3% of Miami-Dade’s September closings, compared with about 27% of U.S. home sales in the cited national figures. Cash accounted for 49.4% of condominium transactions and 26.2% of single-family sales. MIAMI REALTORS® + RWorld also reported that international buyers accounted for 49% of South Florida new-construction, pre-construction and condo-conversion sales during the 18 months ending in July 2025.
The record at the top of the market contrasts with broader affordability and financing challenges. The report noted that just 21 of 2,397 condominium buildings across Miami-Dade, Broward and Palm Beach counties were approved for FHA loans, limiting financing options for some prospective buyers.
Sources
- Miami-Dade Sets Record for $30 Million-Plus Home Sales in First Nine Months of 2026, Boston Real Estate Times.
- Miami-Dade Breaks Annual Record for $30 Million-Plus Home Sales in Just Nine Months, Yahoo Finance.