The South Florida real estate market is experiencing a dynamic shift, with December data revealing a notable increase in residential sales across Miami-Dade and Broward counties, coupled with a downward trend in median prices. This presents a favorable environment for buyers, a stark contrast to the rapid price escalation seen during the pandemic.
Key Takeaways
- Sales of both single-family homes and condos saw year-over-year increases in Miami-Dade and Broward counties.
- Median prices for single-family homes and condos decreased in both counties.
- Lower mortgage rates and an influx of wealthy individuals are cited as primary drivers for these trends.
- The luxury market, particularly homes priced at $10 million and above, experienced near record-breaking sales in the past year.
Sales Momentum Builds
In Miami-Dade County, total residential sales climbed by 5.9% in December compared to the previous year. Single-family home sales rose by 3.7%, while existing condo sales saw a more significant jump of 7.9%. Broward County mirrored this positive trend, with overall home sales increasing by 7.9%. Single-family home sales in Broward were up by 10.6%, and condo sales rose by 5.2%.
Sophia Allen, president of the Miami Association of Realtors’ Broward chapter, attributed these gains to a combination of decreasing mortgage rates and the continued migration of affluent individuals to the South Florida region.
Price Correction Continues
Following the surge in home prices during the pandemic, the market is now undergoing a correction. In Miami-Dade, median prices for both single-family homes and existing condos saw a decrease of just over 2% year-over-year. Broward County experienced more pronounced price drops, with median existing condo prices falling by 9.3% and median single-family home prices declining by just under 1%.
The available condo inventory in Miami-Dade stood at approximately 13 months in December, signaling a strong buyer’s market. The single-family home market in Miami-Dade is more balanced, with about six months of supply.
Luxury Market Strength
Despite the overall price dip, the high-end segment of the South Florida real estate market demonstrated remarkable resilience. In 2025, sales of homes priced at $10 million and above in South Florida nearly reached an all-time high, with 361 transactions. This figure is second only to the pandemic-fueled buying frenzy of 2021, which saw 444 such sales.
In Miami-Dade County, sales of single-family homes and condos priced at $1 million or more also increased in December. Condo sales in this bracket rose by 2.45%, while single-family home sales saw a substantial 12% increase. Broward County also reported strong performance in its luxury sector, with single-family home sales of $1 million or more up by 16%.
Sources
- Home prices are falling as sales are rising in South Florida, Miami Herald.
- South Florida home sales in December 2025 from Florida Realtors, The Business Journals.