Miami-Dade Total Home Sales Rise for 11th Consecutive Month

Miami-Dade County's housing market extended its winning streak in July 2026, with total home sales climbing for the 11th consecutive month. According to the latest report from MIAMI REALTORS® + RWorld, total home sales rose 8.6% year-over-year to 1,935 transactions, reinforcing Miami's position as one of the most resilient real estate markets in the country.

Sales Momentum Continues Across Property Types

Both single-family homes and condominiums contributed to July's gains. Single-family home sales increased 5.6% year-over-year, while condominium sales rose 11.4%. The upper end of the market was especially strong, with sales of homes priced at $1 million and above climbing 15.5%. Condos priced between $400,000 and $500,000 also saw a notable jump, up 12.6% compared to last year.

Total Dollar Volume Grows

The strength in sales volume translated into higher dollar figures as well. Total dollar volume for the month increased 6.2% to $1.9 billion. Single-family dollar volume rose 16.53% to $1.3 billion, while condo dollar volume declined 8.45% to $707 million.

Home Prices Continue Their Long-Term Climb

Miami-Dade's median single-family home price rose 3.79% year-over-year to $685,000 in July. Looking further back, single-family prices have surged 296.6% since 2011, when the median stood at $172,700.

Condo Prices Show Long-Term Strength Despite a Monthly Dip

Condo prices told a slightly different story month to month, dipping 1.48% year-over-year to $400,000 from $406,000. Even so, the longer-term trend remains dramatic: Miami condo prices have appreciated 252% since 2011, when the median price was just $113,800.

Inventory Remains Tight

Active listings across Miami-Dade fell 15.1% year-over-year to 15,599 homes. Single-family inventory dropped sharply, down 22.82% to 4,275 listings, while condo inventory declined 11.79% to 11,324 listings, the sixth consecutive month of condo inventory declines.

The tightening supply is shaping different conditions across property types. Single-family homes have just 4.8 months of supply, consistent with a seller's market, while condos have 12 months of supply, putting that segment firmly in buyer's market territory.

Cash Buyers and Market Timing

Cash transactions accounted for 35.1% of all closed sales in July, with cash making up 47.5% of condo purchases and 21.2% of single-family purchases. Distressed sales remained minimal, representing just 0.2% of all residential sales.

Single-family homes spent a median of 45 days on the market before going under contract and 88 days to reach a closed sale, selling for 96% of their original list price on average. Condos took longer, with a median of 86 days to contract and 125 days to sale, selling for 93% of original list price.

Miami's Standing in the National Market

The July figures come alongside a broader picture of Miami's real estate strength. South Florida leads the nation in wage growth, with net wage earnings up $3.6 billion through the first quarter of 2025. Homeowners who purchased 15 years ago in South Florida now hold more than $500,000 in home equity on average, well above the national figure of $333,700.

Miami also continues to lead the ultra-luxury market, averaging roughly one $10 million home sale per day, and 2025 marked the most $20 million-plus condo sales in the market's history. Nationally, Miami remains the top market for all-cash luxury buyers, with 82% of $1 million-plus condo sales in 2025 closing in cash.

Addressing Affordability

Alongside its luxury growth, MIAMI REALTORS® + RWorld continues to advocate for housing affordability solutions, including the Florida Hometown Heroes Program, accessory dwelling unit (ADU) pathways, and the Florida Live Local Act, which allows developers to reach the highest permitted density in exchange for setting aside 40% of units as affordable housing for residents earning at or below 120% of the area median income.

What Industry Leaders Are Saying

MIAMI REALTORS® + RWorld Board Chairman Alfredo Pujol pointed to the data as evidence of the region's enduring appeal, noting that Miami and South Florida continue to draw people who want to live, work, and invest there. Chief Economist Gay Cororaton attributed much of the area's wage growth to job migration into higher-paying sectors such as professional and tech services, health care, and finance.

About the Report

This report was compiled by MIAMI REALTORS® + RWorld, the largest local REALTOR® association in the world, representing approximately 94,000 real estate professionals. Chartered in 1920 and marking 106 years of service in 2026, the association completed a historic merger with RWorld on May 11, 2026, the largest merger in National Association of REALTORS® history.

Source: MIAMI REALTORS® + RWorld