Miami-Dade County set a new annual record for ultra-luxury home sales before the end of September, with 24 houses and condominiums closing at $30 million or more. That surpassed the previous full-year high of 21 sales in 2025. The milestone contrasts with a broader housing market facing higher mortgage rates and softer sales activity.
Key takeaways
The record reflects continued activity at the top of the market, even as conditions differ across price ranges.
- Miami-Dade recorded 24 sales of homes priced at $30 million or more through Sept. 30, exceeding 2025’s full-year total of 21.
- The market was on pace for 32 such sales by year-end, based on the reported rate of transactions.
- Overall September home sales declined 2% year over year, while active listings fell for an eighth consecutive month.
Ultra-luxury activity outpaces the wider market
The 24 high-end closings included both single-family homes and condominiums. MIAMI REALTORS + RWorld said the county had already passed its prior annual record, reflecting strong demand among upper-tier buyers. The trade group’s chairman, Alfredo Pujol, described South Florida’s ultra-luxury market as booming, while noting that buyers also have options at lower price points.
The year-to-date pace suggested the county could reach 32 sales above $30 million by December. That projection is an estimate, not a final full-year count.
Higher rates weigh on overall sales
Across Miami-Dade, 1,733 homes sold in September, down 2% from a year earlier. Single-family transactions fell 4.7% to 824, while condominium sales edged up 1% to 909. Pending sales also weakened: contracts for single-family homes declined 11.6% to 814, and condo contracts dropped 7.5% to 936.
MIAMI REALTORS + RWorld cited rising mortgage rates as a key headwind. Rates rose nearly 0.6 percentage points between Sept. 1 and Oct. 13, reaching 7.46%, according to the group’s report. Its chief economist said higher borrowing costs were weighing on buyers, although upper-end purchasers remained active.
Inventory and prices show a mixed picture
Active listings totaled 16,242 at the end of September, down 10.1% year over year and marking the eighth straight monthly decline. The supply picture varied by property type: single-family homes had 5.1 months of supply, while existing condominiums had 12.3 months. The report described six to nine months as a balanced range.
Median prices also diverged. The single-family median rose 4.1% from a year earlier to $692,000, while the condo median slipped 0.7% to $417,090. The figures point to a market where record-setting luxury deals coexist with affordability pressures and differing conditions across housing segments.
Sources
- Miami-Dade has already topped its annual record for $30 million-plus home sales, South Florida Agent Magazine.
- Miami-Dade sets record for $30M-plus home sales | Business, keysnews.com.
