Miami-Dade County’s housing market extended its recovery in June, posting its strongest June sales performance in three years as total existing-home transactions climbed for a 10th consecutive month, underscoring resilient demand despite elevated mortgage rates.<\/p>\n
Total existing home sales rose 14.3% from a year earlier to 2,107 transactions, according to June 2026 data released by the Miami Association of Realtors. It marked the county’s best June since 2023 and reflected broad-based gains across both the single-family and condominium sectors.<\/p>\n
Single-family home sales increased 16.8% year over year to 1,049 closings, while condominium transactions rose 12.0% to 1,058. Activity at the upper end of the market remained particularly robust, with sales of homes priced at $1 million or more jumping 29.1% from a year ago. Condominiums priced between $300,000 and $600,000 also recorded healthy demand, with sales rising 8.7%.<\/p>\n
The gains come as South Florida continues to distinguish itself as one of the nation’s strongest luxury housing markets, benefiting from sustained domestic migration, international demand and a high concentration of cash buyers.<\/p>\n
Miami-Dade’s total residential dollar volume surged 36.4% year over year to $2.4 billion in June. Single-family dollar volume climbed nearly 40% to $1.5 billion, while condominium dollar volume increased 31.5% to approximately $940 million.<\/p>\n
Prices Remain Near Record Levels<\/strong><\/p>\n Home prices continued to demonstrate resilience despite moderating condominium values.<\/p>\n The median price for a single-family home increased 3.7% from a year earlier to $695,000, extending one of the longest appreciation streaks in the country. Single-family prices have increased in 172 of the past 175 months and have climbed more than 300% since 2011.<\/p>\n The median condominium price declined 3.2% year over year to $431,000 after several years of rapid appreciation. Even with the recent pullback, condo values have risen approximately 278% since 2011 and have remained stable or increased in 165 of the past 181 months.<\/p>\n \u0418\u043d\u0432\u0435\u043d\u0442\u0430\u0440\u044c \u0441\u043e\u043a\u0440\u0430\u0449\u0430\u0435\u0442\u0441\u044f<\/strong><\/p>\n Housing supply continued to contract, supporting prices and increasing competition for available listings.<\/p>\n Active inventory fell 14.9% from a year earlier to 15,930 listings, marking the fifth consecutive monthly decline.<\/p>\n Single-family inventory dropped 22.7% to 4,380 homes, leaving the market with a 4.9-month supply–generally considered a seller’s market.<\/p>\n Condominium inventory declined 11.5% to 11,550 units, also its fifth straight annual decline. Despite the improvement, condos remain in buyer’s market territory with a 12.3-month supply, well above the six-to-nine months typically associated with a balanced market.<\/p>\n Cash Buyers Continue to Dominate<\/strong><\/p>\n Cash transactions remain a defining feature of the Miami housing market.<\/p>\n Cash purchases accounted for 38.1% of all residential closings in June, well above the U.S. average of roughly 25%, according to the National Association of Realtors.<\/p>\n Nearly half (48.5%) of condominium purchases were completed with cash, compared with 27.6% of single-family transactions.<\/p>\n The prevalence of cash buyers continues to insulate portions of the market from higher borrowing costs and reflects Miami’s appeal to international investors and domestic buyers relocating from higher-cost markets.<\/p>\n Market Fundamentals Remain Healthy<\/strong><\/p>\n Distressed sales remained virtually nonexistent, highlighting the market’s financial strength.<\/p>\n Foreclosures and short sales represented just 0.5% of all residential transactions in June, a dramatic improvement from the aftermath of the financial crisis, when distressed properties accounted for roughly 70% of Miami home sales in 2009.<\/p>\n Homes are taking longer to sell than a year ago but continue to command prices close to sellers’ expectations. Single-family homes sold for a median 95% of their original list price, while condominiums achieved 94%.<\/p>\n The median time from listing to contract increased to 52 days for single-family homes and 85 days for condominiums, reflecting a more normalized pace following the pandemic-era buying frenzy.<\/p>\n International Demand Remains a Competitive Advantage<\/strong><\/p>\n The existing-home sales figures do not capture South Florida’s substantial new-construction, pre-construction and condominium conversion market, much of which is transacted outside the Multiple Listing Service.<\/p>\n According to Miami Realtors’ New Construction Global Sales Reports, international buyers accounted for 49% of South Florida’s new-construction and pre-construction purchases over an 18-month period ending in July 2025. A subsequent report published in November 2025 found demand expanding further, with buyers representing 73 countries.<\/p>\n South Florida’s National Standing<\/strong><\/p>\n Miami Realtors highlighted several indicators underscoring South Florida’s competitive position nationally:<\/p>\n South Florida remains the nation’s leading ultra-luxury housing market, averaging approximately one $10 million residential sale per day. The June results suggest Miami’s housing market continues to outperform many U.S. metropolitan areas, supported by luxury demand, international capital, constrained inventory and a buyer base less dependent on mortgage financing.<\/p>","protected":false},"excerpt":{"rendered":" Luxury Demand and Tight Supply Fuel Market Miami-Dade County’s housing market extended its recovery in June, posting its strongest June sales performance in three years as total existing-home transactions climbed for a 10th consecutive month, underscoring resilient demand despite elevated mortgage rates. Total existing home sales rose 14.3% from a year earlier to 2,107 transactions, […]<\/p>","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-63594","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n
\nThe region ranks first nationally for cash purchases of luxury condominiums, with 82% of $1 million-plus condo sales completed in cash during 2025.
\nSoutheast Florida leads the United States in multifamily construction, with more than 36,000 apartment units under development as of late 2025.
\nMiami-Dade homeowners continue to generate some of the nation’s strongest equity gains, with median equity for homeowners who purchased 15 years ago approaching $561,000–nearly double the national median.<\/p>\n