Miami-Dade Home Sales Rose 8.6% While Condo Prices Fell

What the July numbers actually show

The county-level figures come from MIAMI REALTORS® + RWorld's July 2026 release, drawn from the MIAMI MLS and BeachesMLS:

• Total Miami-Dade sales: 1,935 in July 2026, up 8.6% from 1,782 a year earlier — the eleventh consecutive monthly increase
  
  
• Single-family sales: 909, up 5.6% from 861
  
  
• Condo sales: 1,026, up 11.4% from 921
  
  
• Single-family median price: $685,000, up 3.79% from $660,000
  
  
• Condo median price: $400,000, down 1.48% from $406,000
  
  
• Single-family months' supply: 4.8 months
  
  
• Condo months' supply: 12 months
  
  
• Total active listings: 15,599, down 15.1% from 18,377
  
  

Regionally, single-family sales rose in every South Florida county, with Palm Beach leading at 12.7%. Year-to-date sales of million-dollar homes across the region are up 22.9%, and in Miami-Dade specifically, $1 million-and-up sales climbed 15.5% year over year.

The 30-year fixed mortgage averaged 6.54% in July, per Freddie Mac. That matters, because all of this sales growth happened without any meaningful help from rates.

Why Miami-Dade is really two markets right now

A balanced market runs somewhere between six and nine months of supply. Miami-Dade single-family sits at 4.8 months. Miami-Dade condos sit at 12. Those are not two readings of the same market — they're two markets that happen to share a county line.

On the single-family side, the supply story is doing the work. Active single-family listings fell 22.82% year over year, from 5,539 to 4,275. Sales rose 5.6% against inventory that dropped by nearly a quarter. That combination is what pushes a market toward sellers, and you can see it in the transaction data: single-family homes went to contract in a median of 45 days and closed at 96% of original list price.

Worth noting, because it's a real shift: earlier this year Miami-Dade single-family behaved like a buyer's market, and sellers were entertaining contingent offers again. At 4.8 months, that window is narrowing. If you were counting on a seller accepting your home-sale contingency, that assumption is worth re-testing — it's a live variable in deciding whether to sell first or buy first.

On the condo side, something different is happening. Condo sales rose 11.4% — faster than single-family — and prices still fell. Inventory declined too, down 11.79% to 11,324 listings. So why hasn't pricing firmed?

Because condo demand is being filtered before it ever reaches the listing. Of the 2,397 condominium buildings across Miami-Dade, Broward, and Palm Beach, only 21 are approved for FHA loans — under 1%. Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on August 3, 2026. The practical effect is that a large share of otherwise-qualified buyers can't finance a large share of otherwise-attractive units. Cash filled the gap: 47.5% of Miami-Dade condo sales closed in cash last month, versus 21.2% of single-family.

That's why the condo market can post rising sales and softening prices at the same time. The buyers who can transact are transacting. The buyers who need a conventional loan on a building that doesn't clear project review are stuck, and sellers in those buildings are competing for a smaller pool. It's also why checking a building's financing eligibility before you write an offer has stopped being optional diligence and started being step one.

Carrying costs are the other half of it. Miami's median HOA fee runs $617 a month — the heaviest burden in the country, and that's before insurance or a reserve-driven special assessment. Buyers underwrite that number now. They didn't always.

The split shows up in time, too. Condos took a median of 86 days to go to contract, up from 65 a year ago, and 125 days to close. Single-family took 45 and 88. That's roughly six extra weeks of taxes, insurance, and dues on a condo before a contract is even signed.

MIAMI REALTORS® Chairman Alfredo Pujol pointed at the same divide from the other direction, noting that "well-managed condo buildings with strong reserves are performing particularly well." Building quality has become a pricing variable, not a footnote.

What to do with this if you own or you're buying

If you own a single-family home in Miami-Dade and you've been waiting for a better moment, the supply math is more in your favor than it was six months ago. That does not mean pricing above the comps works — 96% of original list is a strong number, not a blank check. It means a correctly priced house has a realistic shot at a contract in about six weeks. If you're moving up, run both sides of the transaction on current assumptions, not spring's.

If you own a Miami-Dade condo, the honest read is that your building matters as much as your unit. Before you set a price, know three things: whether your project is currently financeable under the post-August guidelines, what your reserve study and any pending assessment look like, and what comparable units in your building — not your ZIP code — have actually closed for. A well-funded building in the same neighborhood as an underfunded one is not competing in the same market.

If you're buying, you have leverage in exactly one of these two markets. On condos, 12 months of supply and 6–8% typical price discounts give you real room — provided you underwrite HOA dues, insurance, and assessment exposure as part of the payment rather than as an afterthought, and provided you confirm financing on the building early. On single-family, the room is thinner. Get fully underwritten before you shop, and be realistic about how many contingencies a seller will absorb at 4.8 months of supply.

One caution on all of this: these are July figures in a market that has moved eleven months in a row. Months' supply is the number to watch. If single-family drifts below four, conditions tighten further. If condo financing loosens as the new review guidelines settle in, that 12-month figure can compress quickly.

Frequently Asked Questions

Is Miami-Dade a buyer's market or a seller's market right now?

Both, depending on property type. Single-family homes sit at 4.8 months of supply, which favors sellers. Existing condos sit at 12 months, which favors buyers. A balanced market is generally six to nine months, so the two segments are on opposite sides of it.

Why are Miami-Dade condo prices falling if condo sales are rising?

Sales rose 11.4% in July while the median price fell 1.48%. The main constraint is financing: fewer than 1% of South Florida condo buildings are FHA-approved, and Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on August 3, 2026. That narrows the buyer pool for many buildings to cash and portfolio lenders, and 47.5% of Miami-Dade condo sales closed in cash last month.

What is the median home price in Miami-Dade County?

As of July 2026, the median single-family sale price was $685,000, up 3.79% year over year. The median existing condo sale price was $400,000, down 1.48% year over year.

How long does it take to sell a home in Miami-Dade?

In July 2026, single-family homes took a median of 45 days from listing to contract and 88 days to close. Existing condos took a median of 86 days to contract — up from 65 days a year earlier — and 125 days to close.

Did mortgage rates drive the increase in sales?

Not directly. The 30-year fixed rate averaged 6.54% in July 2026, per Freddie Mac, which is not a meaningful improvement. The sales growth is tracking declining inventory, wage growth in the Miami metro, and continued out-of-state migration rather than cheaper financing.

Miami-Dade posted its eleventh straight month of sales growth in July, but the headline number hides the more useful fact: houses and condos are now operating on different rules, different timelines, and different buyer pools.

Which of those two markets you're actually in — and where your building or your block sits inside it — is what determines your pricing, your timeline, and how much room you have to negotiate. If you'd like to walk through what these numbers mean for your specific property or your search, grab a time here.

About Pedro Casanova

Pedro Casanova is a real estate broker that leads The KREN Group real estate team serving the Southeast Florida area. They specialize in helping people build wealth through real estate by helping buyers and sellers maximize their opportunity in every transaction. Connect with the team at www.thekrengroup.com.

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