Miami-Dade’s housing market continued its broad-based recovery in July, with total home sales rising 8.6% year over year to 1,935 transactions. The increase marked the 11th consecutive month of annual growth, while declining inventory, stronger luxury demand and improving condo activity pointed to firmer market conditions.
Key takeaways
- Total sales increased 8.6% year over year to 1,935 transactions.
- Single-family sales rose 5.6%, while existing condo sales climbed 11.4%.
- Sales of homes priced at $1 million or more jumped 15.5%.
- Overall active listings fell 15.1%, tightening competition.
- Single-family homes entered seller’s-market territory, while condos remained a buyer’s market.
The figures, released by MIAMI REALTORS® + RWorld, MIAMI MLS and BeachesMLS, suggest that Miami-Dade is on pace for its strongest annual transaction total since 2024. Total dollar volume also increased 6.2% to $1.9 billion.
Condo market shows signs of stabilization
Existing condominium sales reached 1,026 in July, up from 921 a year earlier. Units priced between $400,000 and $500,000 performed particularly well, with sales increasing 12.6%.
The improvement comes after years of pressure from higher insurance costs, building inspections and reserve requirements introduced following the 2021 Surfside condominium collapse. Condo inventory declined nearly 12% year over year to 11,324 listings, marking the sixth consecutive monthly decrease.
Despite the progress, condos still had about 12 months of supply, giving buyers more negotiating leverage. Condo prices fell 1.48% from a year earlier to a median of $400,000, although values remain 252% above their 2011 level.
Single-family homes remain in demand
Single-family transactions increased to 909, up 5.6% from July 2025. The median price rose 3.79% to $685,000, continuing a long-running trend of price appreciation.
Active single-family listings fell 22.82% to 4,275, leaving 4.8 months of supply. That level generally indicates a seller’s market, where limited availability can support prices and increase competition among buyers.
Across South Florida, brokers have also reported stronger activity in both Miami-Dade and Broward. Midyear data cited by local industry observers showed Miami-Dade single-family sales rising while inventory and months of supply declined.
Luxury demand adds momentum
Sales of homes priced at $1 million or more rose 15.5% year over year, from 341 to 394 transactions. The luxury segment has benefited from high-income relocations, corporate moves and buyers arriving from more expensive U.S. markets.
Cash transactions represented 35.1% of all Miami-Dade sales in July, compared with roughly 26% nationally. Cash accounted for 47.5% of condo sales and 21.2% of single-family transactions, helping some buyers avoid elevated borrowing costs.
Rates and supply remain important variables
The average 30-year fixed mortgage rate was 6.54% in July. While borrowing costs remain high compared with the pandemic era, strong wage growth and migration into professional, technology, health care and finance jobs are supporting demand.
The market is also becoming more selective. Well-managed condominium buildings with adequate reserves are attracting greater interest, while financing hurdles continue to affect older properties. New construction and pre-construction sales are largely excluded from MLS totals, meaning the reported figures do not capture the full scale of Miami’s housing activity.
- Miami-Dade Total Home Sales Rise for 11th Consecutive Month, PR Newswire.
- South Florida real estate market gains momentum as inventory tightens | Real Estate, IslanderNews.com.
- South Florida home sales in July 2026 from Florida Realtors, The Business Journals.
- Is Miami-Dade’s struggling condo market starting to rebound?, Miami Herald.