Sales Are Rising Across Florida
The market in Florida is gaining momentum. In Miami total home sales increased 5.9% year-over-year, with single-family homes up 3.7% and condos up 7.9%. There has been an even stronger activity, with total sales rising 7.9%. Single-family homes climbed 10.6%, and condo sales increased 5.2%. Lower mortgage rates and continued migration into Florida are helping fuel steady buyer demand.
Market Shift
After the pandemic, home prices are normalizing. In Miami, median prices for both single-family homes and condos declined just over 2% year-over-year. Condo prices fell 9.3%, while single-family homes dipped slightly under 1%. This growth is being supported by slightly lower mortgage rates, strong domestic migration, and sustained demand from high-net-worth buyers relocating to Florida. The increase in closed sales signals confidence in the market, even as pricing begins to normalize.
Price Adjustments Create Opportunity
Inventory levels show a clear opportunity. Miami has about 13 months of condo supply which signals a strong buyer’s market. Single-family inventory sits near six months, indicating a more balanced environment when it comes to a slightly bigger space. Meanwhile, the luxury sector remains strong, with 361 homes over $10M sold in 2025. Overall there are rising sales, softening prices, and increasing inventory are creating meaningful opportunities for buyers across South Florida.
