MIAMI MARKET INTELLIGENCE
Miami Market Intelligence.
The numbers tell part of the story. The context tells the rest.
MARKET SNAPSHOT
Where Miami-Dade stands right now.
$695K
Miami-Dade single-family benchmark
Miami-Dade County, all price points · June 2026 · MIAMI Association of REALTORS®
52 / 85
Days on market, single-family / condo
Miami-Dade County, list-to-contract · June 2026 · MIAMI Association of REALTORS®
4.9 / 12.3
Months of supply, single-family / condo
Miami-Dade County · June 2026 · MIAMI Association of REALTORS®
95% / 94%
Sale-to-list ratio, single-family / condo
Miami-Dade County · June 2026 · MIAMI Association of REALTORS®
This is Miami-Dade county-wide context across all price points, not a luxury-segment figure. The county’s luxury threshold begins materially higher, at $4.3M, detailed next in Market Direction.
MARKET DIRECTION
Is Miami currently a buyer’s or seller’s market?
It depends which market. Miami-Dade single-family homes sit at 4.9 months of supply, which is seller-favorable territory, while condominiums carry 12.3 months of supply, a clear buyer’s market. That split is the single most important fact about Miami real estate right now, and it means the same headline number can describe two very different negotiating positions depending on property type.
Time-to-contract is stretching for both: single-family homes now take a median of 52 days to go under contract, up from 42 a year earlier, and condominiums take 85 days, up from 68. Pricing remains resilient where inventory is tight. Single-family sellers are still closing at 95% of original asking price, while condo sellers are closing at 94%, a narrower gap than the inventory numbers alone would suggest.
For sellers, the practical read is this: single-family listings can still command a confident asking price, but condo listings are competing against meaningfully more inventory and need stronger presentation to hold pricing power.
Months of Supply · Miami-Dade County · June 2026
Condominium months of supply: 12.3, a buyer’s market. Single-family months of supply: 4.9, a seller’s market. Source: MIAMI Association of REALTORS®, June 2026, Miami-Dade County.
Miami-Dade County · June 2026 · MIAMI Association of REALTORS®
$4.3M
Luxury price threshold (top 5% of sales)
Miami-Dade County · H1 2026 · MIAMI REALTORS® / Florida Realtors
$10.7M
Ultra-luxury price threshold (top 1% of sales)
Miami-Dade County, up from $7.8M in 2025 · H1 2026 · MIAMI REALTORS® / Florida Realtors
SUBMARKET INTELLIGENCE
Miami Beach and Coconut Grove are not the same market.
Each of these five submarkets has its own buyer profile, its own inventory behavior, and in most cases its own pricing data. Where a submarket does not have a clean, comparable statistic, that is noted rather than filled in with a placeholder number.
Miami Beach
A barrier-island resort market built around lifestyle and view. Condo towers dominate the inventory, with a small pocket of single-family estates on Sunset Islands and North Bay Road.
- Buyer Profile
- Second-home and international buyers drawn to the lifestyle and rental flexibility of a resort market.
- Property Type
- Oceanfront and bayfront condominiums, with limited single-family stock at the top of the market.
- Pricing Context
- Average list price reached roughly $2.69M in early 2026, up about 3% year over year, at an average of roughly $1,063 per square foot across tracked listings.
Miami Beach, all tracked listings · Early 2026 · Regional brokerage market reporting
Takeaway: Presentation and lifestyle merchandising carry real weight here, since buyers are comparing view, building, and amenity as much as unit size.
Brickell
Miami's vertical financial core. Dense, active, and the most liquid submarket in this set, with condo towers standing in for nearly all available inventory.
- Buyer Profile
- Primary-residence urban professionals and investors, with meaningful overlap into the rental market.
- Property Type
- High-rise condominiums almost exclusively; single-family inventory is effectively nonexistent.
- Pricing Context
- Broad condo pricing averages roughly $750K, with ultra-luxury towers pricing well above that baseline.
Takeaway: Liquidity is Brickell’s defining advantage: buyers weigh building quality and leasing flexibility alongside price, and turnover tends to be faster than in lower-density submarkets.
Coconut Grove
Miami's established ultra-luxury enclave, mixing waterfront single-family estates with a new wave of boutique low-rise condo development.
- Buyer Profile
- Primary-residence luxury upgraders, with a growing share of international buyers drawn to new boutique product.
- Property Type
- Waterfront and near-waterfront single-family estates, alongside new-construction boutique condominiums.
- Pricing Context
- Single-family estate pricing has moved sharply higher over the past year. New boutique condo product is repricing the ceiling: Park Grove has traded near $3,850 per square foot, and Vita at Grove Isle is positioned from roughly $6.5M.
Coconut Grove, top-of-market condo resale · 2026 · Regional brokerage market reporting
Takeaway: Coconut Grove is Miami’s benchmark for architectural, established-neighborhood luxury, and new boutique condo development is pulling top-end pricing higher.
Coral Gables
Mediterranean-revival architecture under one of Miami’s strictest design-review processes, which caps new supply and protects neighborhood character by design.
- Buyer Profile
- Primary-residence and legacy buyers who value architectural consistency and established, tree-canopied streets.
- Property Type
- Single-family estates almost exclusively; the city’s zoning has kept the submarket largely free of high-rise condo towers.
- Pricing Context
- Median sale price reached roughly $1.7M over the three months ending July 2026, at a median of $822 per square foot, up 10.3% year over year.
Coral Gables · Trailing 3 months to July 2026 · Redfin market data
Takeaway: Architectural review protects scarcity by design; premium enclaves like Gables Estates command significantly more than the neighborhood median.
Key Biscayne
A private, low-density barrier island reached by a single causeway, which structurally caps supply in a way no other submarket in this set experiences.
- Buyer Profile
- Primary and second-home buyers prioritizing privacy, family-oriented amenities, and a boating lifestyle.
- Property Type
- Single-family homes with a limited supply of oceanfront and bayfront condominiums.
- Pricing Context
- The luxury segment carried a median listing price of roughly $7.49M, or about $1,969 per square foot, in mid-2026.
Key Biscayne, luxury segment · July 2026 (listing price, not closed sale price) · Regional market data reporting
Takeaway: The island’s single point of access is a structural, permanent supply constraint, which keeps competition high for the limited luxury inventory that reaches market.
MARKET POSITIONING BY TIER
What does $5 million buy in Miami?
The answer changes fast across three price tiers. This is typical market positioning drawn from current pricing context, not a guarantee of available inventory at any given moment.
$3M
Entry to Miami’s luxury tier
Positioned just below Miami-Dade’s H1 2026 luxury threshold of $4.3M. Typical positioning: well-located condominiums in Brickell or Edgewater at the higher end of a building’s stack, or smaller single-family homes in emerging pockets near Coral Gables and South Miami. Waterfront access is uncommon at this tier without a real compromise on size or condition.
$5M
The confident luxury tier
Sits above the county’s luxury threshold. Typical positioning: renovated single-family homes in Coral Gables or non-waterfront Coconut Grove, or upper-floor, view-corridor condominiums in premier Brickell or Miami Beach towers. Canal-front waterfront, as distinct from open bay or ocean, becomes a realistic option.
$10M
The ultra-luxury tier
At or above Miami-Dade’s ultra-luxury threshold of $10.7M. Typical positioning: architecturally significant waterfront estates in Coconut Grove, Coral Gables’ Gables Estates, or Key Biscayne, alongside branded and boutique new-development residences. Deeded dockage and direct bay or ocean frontage move from exception to expectation.
Typical market positioning, illustrative of current conditions. Not a listing of available inventory.
CONDO VS. SINGLE-FAMILY
Are Miami luxury condos behaving differently from single-family homes?
Meaningfully, yes. The two property types are moving through the market at different speeds and giving buyers very different amounts of leverage. This is market context, not financial or legal advice.
- Months of supply
- Condominium
12.3 months (buyer’s market) - Single-Family
4.9 months (seller’s market) - Days on market (list-to-contract)
- Condominium
85 days - Single-Family
52 days - Sale-to-list ratio
- Condominium
94% - Single-Family
95% - Cash purchases
- Condominium
48.5% of sales - Single-Family
27.6% of sales - Typical buyer profile
- Condominium
Investor, second-home, lock-and-leave - Single-Family
Primary residence, family - Carrying costs
- Condominium
Monthly HOA dues on top of taxes and insurance; post-2022 structural reserve requirements (SIRS) have raised dues at many buildings - Single-Family
No HOA in most cases, but full maintenance and repair responsibility sits with the owner - Liquidity and pricing sensitivity
- Condominium
Elevated inventory gives buyers more room to negotiate - Single-Family
Tighter supply keeps sellers in a comparatively stronger position
Miami-Dade County · June 2026 · MIAMI Association of REALTORS®
WATERFRONT INTELLIGENCE
Is waterfront always worth the premium in Miami?
Genuine waterfront lots are scarce enough that pricing reflects scarcity as much as square footage. Oceanfront pricing has started near $1,500 per square foot in 2026 and extended past $2,500 at premium exposures, and the top single-family record for the year, on Sunset Islands, reached $7,672 per square foot. Buyers should expect that premium to hold at true water’s-edge parcels in Coconut Grove, Gables Estates, Key Biscayne, and Sunset Islands, while water-view product that is not directly on the water carries a smaller, more negotiable premium.
Cash concentration is unusually high in this segment: cash represented an estimated 68% of waterfront sales in Q1 2026, well above the county-wide 38.1% cash share, reflecting both international demand and buyers who value moving quickly on scarce inventory.
Deeded dockage and direct bay or ocean frontage are specific, quantifiable value drivers, not general lifestyle language. On the insurance side: NFIP flood coverage is commonly capped at $250,000 for the building, which is often insufficient at luxury replacement cost, and condo association master policies carry their own deductibles that can translate into a special assessment after a major storm. This is general market context, not insurance or legal advice. Buyers should review a building’s most recent insurance summary directly during due diligence.
Waterfront pricing and cash-share figures: regional brokerage market reporting, Q1 2026. Insurance context: general market reporting, 2026. Not financial or legal advice.
BUYER INTELLIGENCE
Four buyers, four very different priorities.
Primary Residence
What matters: Architectural character, established neighborhoods, and long-term livability over lifestyle amenity.
Preferred areas: Coral Gables, Coconut Grove, Key Biscayne
Trade-off: Lower turnover in these submarkets means more competition for the right property when it does reach market.
Second Home
What matters: Lock-and-leave convenience, building services, and rental flexibility when the property sits empty.
Preferred areas: Miami Beach, Brickell
Trade-off: Condo HOA and assessment exposure weighed against low-maintenance convenience.
International
What matters: Clear, trustworthy communication and documentation, often before a single call happens. Roughly 51% of South Florida’s international buyers purchase in cash.
Preferred areas: Miami Beach, Brickell, waterfront Coconut Grove
Trade-off: Financing is less often the constraint; presentation and trust signals do more of the work than in a domestic transaction.
Investor
What matters: Liquidity, rental yield potential, and a building’s leasing rules.
Preferred areas: Brickell and other Downtown-adjacent condo product
Trade-off: Elevated condo inventory (12.3 months of supply) means more competition among sellers, which can work for or against an investor depending on entry versus exit timing.
SELLER INTELLIGENCE
What sellers should know now.
Pricing
Overpricing now carries a real time cost, even in a seller’s market.
Single-family sellers are still closing at 95% of original asking price, but the median time to contract has stretched to 52 days, up from 42 a year ago.
Condo Competition
Elevated inventory makes presentation matter more, not less.
Condo sellers are competing in a genuine buyer’s market, with 12.3 months of supply on hand. A listing that opens with strong photography and a considered narrative is doing real competitive work before a single showing happens.
Premium Positioning
Two situations call for stronger presentation right now.
Condominium listings, given the elevated inventory they are competing against, and any property above Miami-Dade’s $4.3M luxury threshold, where buyers expect a launch that matches the property’s positioning.
FROM THE JOURNAL
Why Miami Luxury Agents Need More Than an IDX WebsiteWaterfront listings and an international buyer pool ask more of a website than a searchable listings feed ever can.
Read the Journal noteSOURCES & METHODOLOGY
Every statistic on this page is dated individually next to where it appears, since not all figures were published on the same day. Quantitative Miami-Dade County figures (median price, days on market, months of supply, sale-to-list ratio, cash sales) come directly from MIAMI Association of REALTORS® monthly statistics. Submarket and waterfront figures that are not available at the county level are drawn from named regional market reporting and labeled as such.
- MIAMI Association of REALTORS®
Monthly market statistics (median price, days on market, months of supply, sale-to-list ratio, cash sales), June 2026.
- MIAMI REALTORS® / Florida Realtors
South Florida luxury home market report (luxury and ultra-luxury price thresholds), published July 23, 2026, covering H1 2026.
- Florida Realtors
Profile of International Residential Transactions in Florida, 2025 reporting period.
- Redfin market data
Coral Gables and Key Biscayne neighborhood pricing, 2026.
- Regional brokerage and publication market reporting
Submarket and waterfront qualitative context (Miami Beach, Coconut Grove, Key Biscayne, waterfront pricing) drawn from named regional luxury-market publications where county-level MLS data does not break out by submarket.
Velora Experience is a fictional marketing concept by New Level Design Studio. Market data above is real and independently sourced; property positioning and market commentary are editorial interpretation, not a real brokerage’s transaction record.