Miami-Dade Breaks Annual Record for $30 Million-Plus Home Sales in Just Nine Months

MIAMI, Oct. 16, 2026 /PRNewswire/ -- Miami-Dade County broke its annual record for $30 million-plus home sales in just nine months, another sign of the wealth flowing into South Florida, according to September 2026 statistics released today by MIAMI REALTORS^® + RWorld.

Through September 2026, Miami-Dade recorded 24 single-family and condominium sales of $30 million or more, topping its full-year 2025 record of 21 transactions by 14.3%. At the current pace, the county is on track to record 32 $30 million-plus home sales by year-end.

"South Florida ultra luxury real estate is booming, and the numbers are impressive," MIAMI REALTORS^® + RWorld Chairman of the Board Alfredo Pujol said. "But there are opportunities for buyers at many different price points, with options from Miami to St. Lucie starting around $400,000. In Miami, condo sales near the $400,000 median price point are up 15% year-over-year, showing that there's plenty of activity beyond the luxury market, too."

Latest South Florida real estate rankings/stats:

• #1 in Home Equity: South Florida single-family homeowners who purchased a home 15 years ago have over $500,000 in home equity compared to $333,700 nationally as of 2026 Q2 via MIAMI REALTORS^® + RWorld Research.
• #1 Ultra-Luxury Market in the U.S.: South Florida averages one $10M home sale per day. In 2025, South Florida posted the most $20M & up condo sales in its history; the second-most $10M & up total home sales in history; and more.
• #1 Market in the U.S. for Cash Buyers: 82% of Miami $1M & up condo sales were all-cash in 2025. The Miami MSA leads the nation in all-cash sales, which means many buyers are operating on liquidity, not debt.

Miami Condo Sales Rise Year-over-Year
Condo sales increased 1% year-over-year in September 2026, from 904 to 909. Condos priced near the median price point, from $300K to $400K, saw a 14.5% year-over-year sales growth, increasing from 159 to 182.

Total home sales decreased 2% year-over-year in September 2026, from 1,769 to 1,733. Single-family home transactions declined 4.7% year over year, from 865 to 824..

The decrease reflects mortgage rates rising nearly 0.6 percentage points since early September to 7.46%, limited inventory in certain price ranges, and uncertainty before and following Florida's Oct. 6 state of emergency ahead of Hurricane Isaias. Although South Florida was not among the 29 affected counties, hurricane threats can delay mortgage approvals, loan funding, and real estate closings.

Miami total home sales had increased year-over-year for 11 consecutive months before August 2026.

The sales total doesn't include South Florida's new construction, pre-construction and condo conversion sales because they are largely not reported in the MLS. But MIAMI REALTORS^® + RWorld led the charge to publish two new construction reports.

International buyers purchased 49% of new South Florida construction, pre-construction and condo conversion sales over an 18-month period ending in July 2025, according to MIAMI REALTORS^® + RWorld first-ever New Construction Global Sales Report in collaboration with industry leaders.

Our second New Construction Global Sales Report, published in November 2025, showed an increase in global sales and buyers from 73 countries, according to the MIAMI REALTORS^® + RWorld November 2025 Global Sales Report in collaboration with industry leaders.

The lack of Federal Housing Administration loans for many existing Miami condominium buildings is preventing further market strengthening. Of the 2,397 condominium buildings in Miami-Dade, Broward and Palm Beach counties, only 21 are approved for FHA loans, according to statistics from the U.S. Department of Housing and Urban Development.

Just 0.9% of South Florida condo buildings are approved for FHA loans.

Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on Aug. 3, 2026. For decades, Florida condominium borrowers and owners faced stricter lending standards and higher financing hurdles than those in many other states. The updated guidelines are expected to create a more transparent and financially secure lending environment.

Miami-Dade Condominium Sale Prices Have Appreciated 267% Since 2011
Miami condo prices have increased 267% since 2011, from $113,800 to $417,090. Miami condos are a long-time national leader in price appreciation.

Prices decreased 0.69% year-over-year in September 2026, from $420,000 to $417,090. Condo inventory is declining year-over-year, which will put upward pressure on prices.

Miami condo median prices have stayed even or increased in 166 of the last 184 months (14+ years).

Miami-Dade County single-family home median sale prices increased 4.06% year-over-year in September 2026, from $665,000 to $692,000. Miami single-family median prices have risen in 175 of the last 179 months (14+ years).

Miami single-family prices have risen 300.7% since 2011, from $172,700 to $692,000.

MIAMI + RWorld Offering First-Time Homebuyer Grants to Support Housing Affordability
MIAMI REALTORS^® + RWorld supports its community through two foundations, including the RWorld Community Foundation, which is committed to expanding access to homeownership and helping families achieve financial stability. Over the past five years, the RWorld Foundation has contributed $180,000 toward closing costs for low-income South Florida homebuyers, helping reduce the upfront financial barriers to purchasing a home.

The RWorld Community Foundation offers eligible first-time homebuyers purchasing a residence in Broward, Palm Beach, or St. Lucie County grants of up to $2,500 toward closing costs. Grant guidelines include: applicants must be first-time homebuyers or have not owned a home in the past three years, must be employed and have low-income levels as defined by Florida Bond Program. More info: https://rworldcares.com/closing-costs-grant

MIAMI REALTORS^® + RWorld continues to support cross-sector stakeholder solutions – like removing obstacles to permitting and zoning, funding the Florida Hometown Heroes Program, and creating pathways for accessory dwelling units (ADUs) – to facilitate both the creation and preservation of safe and affordable housing.

Miami's surging multifamily market and the Florida Live Local Act should boost affordability in the future. Southeast Florida ranks No. 1 in the U.S. for most multifamily construction, according to MIAMI REALTORS^® + RWorld Research. This is important because it adds more overall housing/apartment supply to a city, creates more affordability and adds to Miami's economic growth.

Florida's Live Local Act, which was passed in 2023 and amended in May 2024, is encouraging developers to build more affordable housing. The Live Local Act gives developers the highest density allowed in a local area if they allocate 40% of its units for affordable housing. The state law defines an affordable unit as being at or below 120% of an area's median income.

Miami remains a bargain in comparison to other global cities. For $1M, homebuyers can purchase 58 square meters of prime property in Miami, according to the 2026 Knight Frank Wealth Report. That is almost four times more than Monaco (16 square meters), nearly two times more than New York (34) and London (33) and more than Paris (37), Tokyo (37) and more.

Elevated Mortgage Rates Climb Impacting Home Sales
Mortgage rates have risen nearly 0.6 percentage points since September 1, 2026 to 7.46% as of Oct. 13, 2026. Home sales are sensitive to mortgage rate increases.

A combination of inflationary pressures, federal debt and competition for investor capital is keeping rates elevated.

"We are continuing to see the negative impact of soaring mortgage rates on homebuyers, but upper-end buyers have remained active, with this trend likely to continue through next year as mortgage rates remain elevated," MIAMI REALTORS^® + RWorld Chief Economist Gay Cororaton said.

Total Miami Inventory Declines for Eighth Consecutive Month
Total active listings at the end of September 2026 decreased 10.1% year-over-year, from 18,057 to 16,242. Decreasing supply means more buyer competition and upward price pressure.

Inventory of single-family homes decreased 16.6% year-over-year in September 2026 from 5,437 active listings last year to 4,536 last month.

Condo inventory declined for the eighth consecutive month. Condominium inventory decreased 7.24% year-over-year in September 2026, from 12,620 to 11,706 listings during the same period in 2025, but the total is still significantly below pre-pandemic.

Months' supply of inventory for single-family homes is 5.1 months, which indicates a seller's market. Inventory for existing condominiums is 12.3 months, which indicates a buyer's market. A balanced market between buyers and sellers offers between six- and nine-months supply.

Nationally, total housing inventory is 1.60 million units, according to NAR. That is up 4.6% from September 2025. There is 4.8-month supply of unsold inventory, up from 4.5 months a year ago.

Miami Real Estate: $223 Million in Local Economic Impact
Every time a home is sold it impacts the economy: income generated from real estate industries (commissions, fees and moving expenses), expenditures related to home purchase (furniture and remodeling expenses), multiplier of housing related expenditures (income earned as a result of a home sale is re-circulated into the economy) and new construction (additional home sales induce added home production).

The total economic impact of a typical Florida home sale is $129,000, according to NAR. Miami-Dade sold 1,733 homes in September 2026 for a local economic impact of $223 million.

Miami-Dade total dollar volume increased 15.41% year-over-year in September 2026 to $1.8 billion.

Single-family home dollar volume increased 21.31% year-over-year to $1.2 billion. Condo dollar volume increased 7.13% year-over-year to $724 million.

Miami Distressed Sales Remain at Historic Lows, Reflecting Healthy Market
Only 0.5% of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales. In 2009, distressed sales comprised 70% of Miami sales.

Short sales and REOs accounted for 0.2% and 0.2%, respectively, of total Miami sales in September 2026.

State & National Sales
In Florida, closed sales of single-family homes statewide totaled 20,537 in September 2026, down 3.5% year-over-year, while existing condo-townhouse sales totaled 7,179, down 0.1%.

The statewide median sales price for single-family existing homes was $415,000, up 1.2% year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month's statewide median price for condo-townhouse units was $293,500, down 1.8% vs. last year. The median is the midpoint; half the homes sold for more, half for less.

Nationally, total existing home sales increased 2.2% year-over-year to a seasonally adjusted annual rate of 3.99 million, according to NAR. Median existing home prices increased to $417,500, up 1.3% from one year ago ($412,300) – the 39th consecutive month of year-over-year price increases.

Miami Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 95% in September 2026. The median percent of original list price received for existing condominiums was 94%.

The median number of days between listing and contract dates for Miami single-family home sales was 41 days, up from 50 days last year. The median time to sale for single-family homes was 80 days, up from 89 days last year.

The median number of days between the listing date and contract date for condos was 67 days, up from 75 days. The median number of days to sale for condos was 102 days, up from 115 days.

Miami Cash Sales More than National Figure
Cash sales represented 38.3% of Miami closed sales in September 2026, compared to 35.2% in August 2025. About 27% of U.S. home sales are made in cash, according to the latest NAR statistics.

Cash buyers are not deterred by rising rates. The high percentage of cash buyers reflects Miami's top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash as well as some moving from more expensive U.S. markets who can buy more with their profits from real estate sales.

Cash sales accounted for 49.4% of all Miami existing condo sales and 26.2% of single-family transactions.

To access September 2026 Miami-Dade Statistical Reports, visit http://www.SFMarketIntel.com

Note: Statistics in this news release may vary depending on reporting dates. MIAMI REALTORS^® + RWorld reports exact statistics directly from its MLS system.

About MIAMI REALTORS^® + RWorld
MIAMI REALTORS^® + RWorld was chartered by the NATIONAL ASSOCIATION OF REALTORS^® in 1920, and is celebrating 106 years of service to REALTOR^® members, the buying and selling public, and the communities in South Florida. Composed of nine boards: Corporate Board of Directors, MIAMI REALTORS^® Division, RWorld Division, MIAMI RESIDENTIAL, COMMERCIAL, BROWARD, PALM BEACH, ST. LUCIE & MARTIN, and YOUNG PROFESSIONALS NETWORK. MIAMI REALTORS^® + RWorld represent approximately 96,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local REALTOR^® association in the world and has official partnerships with 308 international organizations worldwide. MIAMI REALTORS^® + RWorld, along with their respective Multiple Listing Services, MIAMI MLS and BeachesMLS, merged on May 11, 2026 in the largest merger in NAR history. The organization's proposed new name will be Miami and South Florida REALTORS^®, pending approval by NAR. Websites are www.miamiandrworld.com, www.MiamiRealtors.com and www.RWorld.com

SOURCE MIAMI Association of REALTORS®