MIAMI — Miami-Dade County’s housing market posted its 11th consecutive month of year-over-year sales growth in July, with 1,935 total home sales, an 8.6% increase from a year earlier, according to figures released by the MIAMI Association of Realtors.
Condominiums drove much of the gain. Condo transactions rose 11.4% year over year to 1,026, while single-family home sales increased 5.6% to 909. The sustained streak puts the county on pace for its best annual transaction volume since 2024, the association said.
The month’s sales generated $1.9 billion in dollar volume, up 6.2% from July 2025, and the association estimated the transactions produced about $249 million in local economic impact.
Prices moved in different directions by property type. The median single-family price climbed 3.79% to $685,000, while the median condo price slipped 1.48% to $400,000. Mid-market condos were a bright spot, with sales in the $400,000-to-$500,000 range surging 12.6% year over year.
The high end continued to outperform. Luxury sales of $1 million and up rose 15.5% to 394 transactions in July. At the very top of the market, Miami-Dade recorded 24 home and condo sales of $30 million or more in the first half of 2026, putting the county on pace to surpass the record 33 such trophy sales closed in all of 2025, according to a MIAMI Realtors market roundup published Aug. 12.
Shrinking Supply Splits the Market
Inventory tightened sharply. Total active listings fell 15.1% year over year to 15,599. Single-family listings dropped 22.8% to 4,275, while condo listings declined 11.8% to 11,324 — the sixth consecutive monthly decrease on the condo side.
The supply picture leaves Miami-Dade running two markets at once. Single-family homes stood at 4.8 months of supply in early August, squarely seller’s-market territory, while condos carried roughly 12 months of supply, conditions that favor buyers.
Cash remained a defining feature of the market. All-cash deals accounted for 35.1% of July closings overall, including 47.5% of condo sales and 21.2% of single-family sales — a cushion that helps insulate South Florida transactions from elevated mortgage rates.
“Miami and South Florida continue to be incredibly attractive places to live, work, and invest,” MIAMI Realtors Chairman Alfredo Pujol said in the release.
The July numbers track with the association’s 2026-2027 outlook for South Florida, which projected continued resilience despite higher borrowing costs, supported by steady demand from Latin American buyers, tax-motivated arrivals from the Northeast and California, and corporate relocations across Miami-Dade, Broward and Palm Beach counties.
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