Miami-Dade County recorded 24 home sales priced at $30 million or more during the first nine months of 2026, surpassing its previous full-year record. The milestone points to continued strength among ultra-luxury buyers, even as higher mortgage rates coincided with a dip in overall sales and affordability remained a challenge.
Key takeaways
- The 24 sales through September exceeded the 2025 annual record of 21; the current pace could bring the 2026 total to 32.
- Overall September home sales fell 2% year over year, while total sales volume rose 15.41% to $1.8 billion.
- Active listings declined 10.1% from a year earlier, but supply varied sharply between houses and condos.
- Cash purchases and international buyers continue to support the high-end market.
Ultra-luxury market outpaces broader activity
The 24 transactions of at least $30 million included single-family homes and condominiums, according to September market figures from MIAMI REALTORS® + RWorld. That tally was 14.3% above the prior record, set across all of 2025. The organization estimated that the county could reach 32 such sales by year-end if the pace holds.
The record came as the broader market softened. Miami-Dade recorded 1,733 residential sales in September, down from 1,769 a year earlier. Single-family transactions dropped 4.7% to 824, while condo sales edged up 1% to 909. The group attributed some of the slowdown to rising mortgage rates, limited inventory in certain price ranges and uncertainty related to hurricane conditions.
Prices and inventory show a divided market
The September median price for a single-family home rose 4.06% year over year to $692,000. The condo median slipped 0.69% to $417,090. Over the longer term, both categories have appreciated substantially since 2011: single-family prices increased about 301%, and condo prices about 267%.
Active listings fell to 16,242, down 10.1% from September 2025. Single-family inventory declined 16.6% to 4,536 listings, while condo listings dropped 7.24% to 11,706—marking an eighth straight month of annual declines. The report counted 5.1 months of supply for houses, a seller’s-market level, versus 12.3 months for condos, consistent with a buyer’s market.
Cash buyers bolster sales volume
Despite fewer transactions, the value of September sales increased to $1.8 billion. Single-family sales generated about $1.2 billion, up 21.31%, and condo sales totaled $724 million, up 7.13%.
Cash made up 38.3% of local closed sales, compared with about 27% nationally. It accounted for nearly half of existing condo purchases and 26.2% of single-family transactions. International purchasers also played a significant role in South Florida new development, representing 49% of sales in that segment during the 18 months through July 2025, according to the report.
Affordability remains a concern
The report’s figures underscore a market split between wealthy buyers and households facing elevated borrowing costs and limited financing options. It noted that only 21 of 2,397 condominium buildings across Miami-Dade, Broward and Palm Beach counties were FHA-approved, potentially narrowing loan choices for buyers. Luxury demand and constrained supply may support prices, but the data leave the broader question of access to homeownership unresolved.
- Miami-Dade Sets Record for $30 Million-Plus Home Sales in First Nine Months of 2026, Boston Real Estate Times.