Miami-Dade Real Estate Market Experiences Remarkable Growth: A Decade of Appreciation

The Miami-Dade real estate market has seen unprecedented growth over the past decade, with significant increases in both condominium and single-family home prices. According to recent data, appreciation rates have made Miami an attractive option for buyers looking for both luxury and affordability in comparison to other global cities.

Dramatic Increase in Condominium Sale Prices

From June 2015 to June 2025, Miami condominium sale prices appreciated a staggering 117.1%, rising from $205,000 to $445,000. In the year leading to June 2025, median prices rose 6%, climbing from $420,000 to $450,000. This upward trend has remained consistent over the past 14 years, with prices either holding steady or climbing in 161 of the last 169 months.

Key Statistics:

• 10-Year Growth: 117.1% increase in condo prices.
• Current Median Price: $450,000 (June 2025).
• Price Stability: 161 months of stable or increasing prices.

Single-Family Homes: A Marvel of Appreciation

Miami-Dade County’s single-family homes have also seen remarkable price gains. The median sale price rose 2% year-over-year to $670,000 in June 2025, up from $657,000. Over the last decade, single-family home prices surged 139.3%, escalating from $280,000 in June 2015.

Important Figures:

• Yearly Increase: 2% rise in median sale prices.
• Historic Growth: 139.3% increase over 10 years.
• Current Median Price: $670,000.

Comparison with Global Cities

Despite the impressive price hikes, Miami remains a bargain compared to cities like Monaco, New York, and London. For $1 million, buyers can acquire 58 square meters of prime Miami real estate, significantly more than in London or New York where the same investment secures only 34 square meters.

Home Equity: A Financial Safety Net

Home equity in Miami is climbing, boasting growth nearly double that of the national average. The gain for a single-family home purchased in Q4 2009 and sold in Q4 2024 is approximately $555,900, compared to the U.S. average of $306,600. For condominiums, the equity gain stands at $342,600 versus the national average of $252,000.

Homeowner Wealth Gap

• Homeowners’ Net Worth: Projected to reach $430,000 in 2025.
• Renters’ Net Worth: Expected to be merely $10,000.

Legislative Efforts for Affordability

The Live Local Act introduced in Florida aims to support affordable housing development. Under this legislation, developers can achieve higher density allowances if 40% of units are designated for affordable housing. This defines affordability as units priced at or below 120% of the area’s median income.

Inventory Trends and Sales Activity

Single-Family and Condo Sales

While sales of mid-market single-family homes priced between $600,000 and $1 million rose by 3.8% to 352 transactions, total sales in Miami-Dade dropped 10.1% year-over-year from 2,051 to 1,843. Elevated mortgage rates, volatile markets, and inventory shortages have contributed to this decline.

Key Points:

• Single-Family Homes: Sales decreased 7.04% year-over-year.
• $1M+ Condo Sales: Increased by 6.4% as of June 2025.

Mortgage Rates and Inventory Levels

As the Federal Reserve holds steady on interest rates, the average fixed-rate mortgage sits at 6.75%. Overall, total inventory in Miami-Dade is still 15.6% below pre-pandemic levels.

Current Inventory Stats:

• Total Active Listings: 18,715, up 38.5% year-over-year.
• Single-Family Homes: Inventory increased 44.29% year-over-year.
• Condominiums: Inventory is still below pre-pandemic levels.

Economic Impact of Home Sales

Every sale influences the local economy, generating approximately $129,000 in economic activity per home sold. With 1,843 homes sold in June 2025, Miami-Dade experienced a local economic impact of $237 million, though total dollar volume decreased by 13.4% year-over-year to $1.8 billion.

Low Distressed Sales Indicate Market Health

Distressed sales remain relatively low in Miami, accounting for only 1.2% of all closed residential sales. This number highlights the strong health of the market compared to past downturns, where distressed sales were far more common.

Summary of Price Appreciation

Miami’s real estate market is outperforming both state and national figures in terms of price appreciation, making it an appealing option for investors and homeowners alike.

Final Thoughts

For anyone considering a home purchase in Miami, the current market offers a wealth of opportunities. Whether you are looking for a condo or a single-family home, Miami stands out as a resilient market with significant growth potential.

For more detailed statistics and market insight, make sure to check out resources from reputable organizations like NAR and the MIAMI Association of REALTORS.