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What are home prices in Miami right now?
In August 2026, the median sale price of a single-family home in Miami-Dade County was $680,000, up 3.8% from $655,000 a year earlier, according to MIAMI REALTORS®. The median condo price was $408,000, almost flat from $410,000. Houses are in a seller’s market with 4.9 months of supply, while condos are in a buyer’s market with 12.1 months. At the top of the market, Miami-Dade recorded 194 sales of $10 million or more through August, on pace for a new annual record.
By Erika Schell, P.A. | September 2026
Key takeaways
- Miami home prices for single-family houses keep rising: the median reached $680,000 in August 2026, up 3.8% year over year.
- Miami home prices for condos are flat at a $408,000 median, with high inventory that gives buyers room to negotiate.
- Miami home prices behave very differently by property type, building and neighborhood, so the county median is only a starting point.
I update this page every month with the latest official data for Miami-Dade County, so you can see Miami home prices in one place without reading a dozen reports. As a REALTOR® with a Master’s in Finance, I also explain what the numbers mean if you are buying, selling or holding property here.
Miami home prices at a glance: August 2026
| Indicator | Single-family homes | Condos |
|---|---|---|
| Median sale price | $680,000 (+3.8%) | $408,000 (-0.5%) |
| Closed sales | 858 (-3.1%) | 911 (+1%) |
| Active listings | 4,330 (-19.2%) | 11,495 (-9.0%) |
| Months of supply | 4.9 | 12.1 |
| Median days to contract | 40 | 66 |
| Median % of list price received | 95% | 94% |
| Cash sales | 24.2% | 50.5% |
Source: MIAMI REALTORS®, August 2026 Miami-Dade data, released September 16, 2026. Changes are year over year.
The long-term trend
Miami-Dade single-family median prices have risen in 174 of the last 178 months. Since 2011, the single-family median has climbed from $172,700 to $680,000, an increase of about 294%. The condo median has stayed even or risen in 166 of the last 183 months and has gone from $113,800 to $408,000 over the same period.
Growth has slowed compared with 2021 and 2022, but it has not reversed for houses. For condos, prices have held steady while supply grew, mainly because of new safety and reserve rules for older buildings. I explain that in detail in our analysis of the Miami condo market in 2026.
Houses vs. condos: two different markets
Single-family homes are scarce. Active listings fell 19% in a year, and 4.9 months of supply is still below the roughly six months that marks a balanced market. Well-priced houses go under contract in about 40 days. Sellers still need to price correctly, because the median home sold for 95% of its list price.
Condos have more supply. With 12.1 months of inventory, condo buyers can compare buildings and negotiate. The building’s finances matter as much as the unit: special assessments, reserves and insurance can change what a condo really costs. Our guide to condo special assessments in Florida explains what to check.
If you are deciding between the two, our condo vs. single-family comparison goes through the trade-offs.
Luxury and ultra-luxury prices
The top of the Miami market is setting records. Through August 2026, Miami-Dade recorded 194 home sales of $10 million or more. At that pace the county would finish the year with about 291, well above the previous record of 230 set in 2021, according to MIAMI REALTORS®. In the $1 million-plus condo segment, 82% of sales in 2025 were paid in cash.
Luxury prices vary widely by neighborhood. For example, in Cocoplum the typical home value is around $6.4 million, while Star Island estates generally trade from about $20 million to more than $60 million. You can compare areas in our guide to the best luxury neighborhoods in Miami, or read our Miami luxury real estate market outlook.
Home prices by area
The county median mixes very different markets. These guides give neighborhood-level detail:
- Doral, including our Doral luxury market report
- Coral Gables and Cocoplum
- Key Biscayne
- Pinecrest and South Miami
- Star Island and Fisher Island
What affects Miami home prices in 2026
- Mortgage rates. The average 30-year fixed rate was 6.67% in August 2026 and had risen to 7.17% by September 15, per MIAMI REALTORS®. Higher rates reduce what financed buyers can afford, which matters less at the top of the market, where many buyers pay cash.
- Wealth migration. High-net-worth buyers moving to South Florida continue to support the luxury segment.
- Insurance and condo rules. Property insurance and the post-Surfside condo laws raise ownership costs, especially in older condo buildings.
- Property taxes. Florida voters will decide on Amendment 3 in November 2026, which would change homestead exemptions and caps. See our explainer on Florida Amendment 3.
What this means for you
If you are selling a house, low inventory works in your favor, but buyers are still price-sensitive. Our guide on how to sell a luxury home in Miami and our article on how to price a luxury home explain how to set the right number.
If you are buying a house, expect competition for well-priced homes and be ready with financing or proof of funds. Our Miami buyer’s guide walks through the process.
If you are buying a condo, you have leverage. Use it to negotiate, but review the building’s documents before you make an offer.
Frequently Asked Questions
What is the median home price in Miami in 2026?
In August 2026, the Miami-Dade median sale price was $680,000 for single-family homes and $408,000 for condos, according to MIAMI REALTORS®.
Are home prices going down in Miami?
Not for houses. The single-family median rose 3.8% year over year in August 2026. Condo prices were almost flat, down 0.5%, with high inventory.
Is Miami a buyer’s or seller’s market?
Both, depending on the property. Single-family homes have 4.9 months of supply, a seller’s market. Condos have 12.1 months of supply, a buyer’s market.
How fast do homes sell in Miami?
In August 2026 the median single-family home went under contract in 40 days and the median condo in 66 days.
How often is this page updated?
Every month, after MIAMI REALTORS® publishes its Miami-Dade figures, usually in the third week of the following month.
Want the numbers for your home or your search?
County medians are a starting point. I can pull recent sales for your street, building or target neighborhood and show you what they mean for your price. Reach out through the contact page or call (786) 801-4442. I work in English and Spanish.
Lea esta página en español: precios de casas en Miami.
About Erika Schell, P.A.
Erika Schell is a Luxury Certified REALTOR® with The Keyes Company, affiliated with Forbes Global Properties, and an 8-time Top Producer at Keyes Doral serving buyers, sellers, and investors across Miami-Dade County. Florida Real Estate License #3366404. With a Master’s in Finance and more than 20 years of corporate experience, Erika brings the precision of a financial analyst to every luxury transaction. Source: MIAMI REALTORS®, August 2026 market data.