Miami-Dade Sales Rose for an 11th Month as Houses and Condos Moved Apart

Miami-Dade closed 1,935 sales in July, up 8.6% year on year, but single-family medians rose 3.79% while condo medians fell 1.48% on 12 months of supply.

Miami-Dade recorded 1,935 closed residential sales in July 2026, an 8.6% increase on the 1,782 of a year earlier and the eleventh consecutive month of year-over-year growth, the MIAMI Association of Realtors reported on 17 August. Underneath that single headline are two markets running in opposite directions, and the gap between them is now wide enough that a county-level average describes neither.

4.8 months against 12 months

Single-family homes: 909 sales, up 5.6%, at a median of $685,000, up 3.79%, with 4,275 active listings — 22.8% fewer than a year ago — and 4.8 months of supply. That is a seller's market by the conventional threshold. Condominiums: 1,026 sales, up 11.4%, at a median of $400,000, down 1.48%, with 11,324 listings and 12 months of supply. That is a buyer's market by the same measure. Condos are selling in greater numbers than houses and still accumulating inventory, because the listing side is growing faster than the sales side.

Time on market tells the same story. A Miami-Dade house took 45 days to go under contract and 88 days to close. A condo took 86 days to contract and 125 to close — more than a month longer at each stage.

Cash, and the top of the market

Cash accounted for 35.1% of all closings in the county, against roughly 26% nationally. The split within that is instructive: 47.5% of condo sales were cash, versus 21.2% of single-family sales. Sales above $1m rose 15.5% year on year to 394. Miami's condo market is being cleared disproportionately by buyers who do not need a mortgage, which is why rising US mortgage rates have not stopped condo transaction volumes even as condo prices slipped.

Statewide the pattern repeats in milder form: Florida closed 23,870 single-family sales, up 5.1%, at a median of $425,000, up 3.7%, and 8,194 condo and townhouse sales, up 11%, at a median of $295,000, flat year on year. Supply stood at 4.5 months for houses and 7.8 for condos.

What Glopra's Miami snapshot shows

Glopra records Miami at $5,802 per square metre as of 23 July 2026, on a gross rental yield of 6.84%, with prices 3.1% lower over twelve months and 45.4% higher over five years. The bubble score is 75, in the elevated band. The negative twelve-month reading sits on the condo side of the divergence — Glopra's per-square-metre measure is weighted toward apartment stock, which is the half of Miami-Dade where medians are falling. A 6.84% gross yield remains high for a major US coastal city, and standardised transaction costs of 6.9% put Miami among the cheaper markets Glopra tracks to enter and exit, which is part of why the condo market keeps clearing at these volumes.

The pressure that does not show up here

One thing the July release does not measure is the cost of holding a Florida condo — association assessments and insurance premiums are not in the sales data at all. A 12-month supply overhang and a falling median in a market where sales volumes are simultaneously up 11.4% is hard to explain through demand alone, which points at the carrying side of the equation. Whatever the cause, it is a variable to verify building by building before signing, not one a county-level median will reveal.

Sources: MIAMI Association of Realtors (17 Aug 2026) https://www.miamirealtors.com/2026/08/17/miami-dade-total-home-sales-rise-for-11th-consecutive-month/; Florida Realtors (17 Aug 2026) https://www.floridarealtors.org/news-media/news-articles/2026/08/florida-home-sales-rise-11th-straight-month

Market data: United States · Miami