Journal · Miami Homes
By Josh Stein · Florida license SL3057661 · Updated 25 September 2026
Miami-Dade, June 2026
Same city, same month, opposite directions. Houses are constrained by land; condominiums are absorbing the cost of Florida’s post-Surfside rules.
Miami is running two housing markets at once right now, and confusing them is the most expensive mistake a buyer or seller can make.
The houses
In June 2026, Miami-Dade single-family homes posted a median sale price of $695,000, up 3.73% year over year, with 4.9 months of supply and a median 52 days to contract. Inventory fell 22.74%.
That is a seller’s market by any conventional reading, and it is tightening rather than loosening.
The condominiums
Condominiums told the opposite story: a median of $431,000, down 3.15%, with 12.3 months of supply and 85 days to contract, up from 68 a year earlier.
That is a buyer’s market, and it is where the negotiating leverage sits today.
Why both are true
They are driven by different things. Houses are constrained by land, and the supply of desirable land in Miami-Dade does not increase. Condominiums are absorbing the cost of Florida’s post-Surfside inspection and reserve laws, which have repriced older buildings across the county — and, since 3 August 2026, Fannie Mae and Freddie Mac require a Full Review for conventional loans in most established condominium projects (Fannie Mae LL-2026-03, 18 March 2026).
One asset class is short of dirt. The other is working through a regulatory repricing. Neither fact tells you anything reliable about the other.
Meanwhile the top accelerates
Sales above $1 million reached 483 in June 2026, up 29.14% year over year, and total Miami-Dade sales rose 14.3% — the tenth consecutive month of annual growth.
So the correct summary is not “Miami is up” or “Miami is down.” It is that the top is accelerating, houses are tight, and the middle of the condominium market is where buyers currently hold the cards.
What to do with it
Buying a house: expect competition and prepare to move quickly. Fifty-two days to contract is the median, and the good ones go faster.
Buying a condominium: take your time, and spend it on the building rather than the unit. Twelve months of supply is well into buyer’s-market territory (six to nine months is balanced, per MIAMI Realtors).
Houses or condos — the answer is building-specific
The divergence in this post is a county-wide average, and no one owns the average. Run the valuation tool for the recorded range in your building, then ask Josh for the qualified sales it is built on.
Frequently asked questions
Is Miami a buyer’s or seller’s market in 2026?
Both, depending on asset class. In June 2026 single-family homes carried 4.9 months of supply with the median up 3.73%, while condominiums carried 12.3 months with the median down 3.15%.
Why are Miami houses and condos moving differently?
Houses are constrained by land supply. Condominiums are absorbing the cost of Florida’s post-Surfside inspection and reserve requirements and a stricter financing review regime.
What was the Miami-Dade single-family median in June 2026?
$695,000, up 3.73% year over year, with a median 52 days to contract.
How has your building held its value? The Miami Condo Index ranks Miami condo buildings by their county sale records: real price per square foot, turnover and four-year change.
Sources and further reading
- MIAMI Association of Realtors — Miami-Dade Posts Best June in Three Years, 17 July 2026miamirealtors.com
- MIAMI Association of Realtors — South Florida Luxury Home Market Reaches New Milestones, 23 July 2026miamirealtors.com
- Fannie Mae — Lender Letter LL-2026-03, 18 March 2026singlefamily.fanniemae.com