Miami housing market is entering a new phase

South Florida’s housing market may be entering a new phase — and many people are missing the signal.
According to new data from the Miami Association of Realtors, Miami-Dade home sales increased for the 8th consecutive month in April 2026:
• Total sales: +5% YoY
• Single-family home sales: +8%
• Condo sales: +3%
At the same time, inventory is shrinking:
• Total listings: -11%
• Single-family inventory: -14%
• Condo inventory: -10%
This matters because markets usually turn BEFORE most people realize it.
For the past 2 years, many buyers waited on the sidelines expecting large price corrections, especially in the condo market after higher interest rates, rising insurance costs, reserve requirements, and the post-Surfside regulatory changes.
But now we are starting to see something important:
Condo inventory in Miami-Dade has declined year-over-year for 3 consecutive months — the first time since 2023.
That does NOT mean every condo is suddenly a great investment. Far from it.
There is still a major difference between:
✔️ well-located, financially healthy buildings
and
❌ older buildings facing reserve, assessment, or structural issues.
The market is becoming more selective.
Single-family homes remain in a seller’s market with only about 5 months of inventory, while condos still favor buyers with more than a year of supply available in many segments.
In other words:
👉 Buyers still have negotiating power in condos.
👉 But the window to negotiate aggressively may slowly narrow if inventory keeps declining.
Another important signal:
Luxury sales above $5M surged 37% year-over-year in Broward.
That tells us global wealth continues flowing into South Florida despite economic uncertainty.
My view:
We are likely moving from a “panic and wait” market into a “selective opportunity” market.
The biggest mistake today is treating all condos — or all neighborhoods — the same.
In this environment, building quality, reserves, location, HOA health, and future assessments matter more than ever.
This is becoming a market for informed buyers and strategic sellers.
#MiamiRealEstate #SouthFloridaRealEstate #Miami #Brickell #MiamiBeach #RealEstateInvestment #LuxuryRealEstate #CondoMarket #HousingMarket #Compass #BrowardRealEstate