Canvas

A compact building with a commercial floor

Counted against the Miami-Dade County Property Appraiser record on 23 September 2026, Canvas returns 574 folios: 513 residential homes and 60 commercial units.

That commercial figure stands out. Sixty commercial folios in a 574-folio building — more than one in ten — is worth knowing before you buy: a meaningful part of what you are buying into is not residential.

The homes themselves are compact and highly consistent. Heated area runs 580 to 1,055 square feet, with a median of 857 — a total spread of under 500 square feet from the smallest home to the largest. The mix is 243 one-bedrooms, 189 two-bedrooms and 81 studios. There are no three-bedroom homes at all.

The 2026 assessed values run $244,503 to $507,196, with a median of $387,121 — a top-to-bottom spread of about two times, which is exceptionally narrow. This is a building where every home is worth roughly what its neighbours are worth.

Three steady years, then a sharp drop

Qualified sales from the county record — arm’s-length transactions only.

For three years this building was steady to improving — $565, $559, then $589, a gain of about 4% over the period. 2026 has come in at $506: a fall of 14.1% in a single year, and the largest one-year move in the four years on this page.

The median sale price registers the same turn, from $484,400 to $430,000, though less dramatically. Both measures agree on the direction, which matters — when a per-foot figure and a median price move together in a building with narrow floorplate variation, there is not much room left for the change to be a sampling artefact.

Volume has thinned alongside it: 39 sales in 2023, 17 so far in 2026. Falling prices with falling volume is the signature of a market where buyers and sellers have not yet agreed on a number.

How seriously to take the 2026 figure

Seventeen sales is a modest sample, and I want to be straight about what it can and cannot support.

What strengthens it here is the building itself. Every home at Canvas sits between 580 and 1,055 square feet, and 2026 assessed values span barely a factor of two. In a building like The Crimson or The Peninsula, a one-year swing can usually be explained by which floorplates traded. Here there is very little floorplate variation to hide behind — homes are close to interchangeable, so a 14% move in the per-foot figure is more likely to be a real move in value.

What weakens it is simply the count. Seventeen transactions in an incomplete year could still shift as the remaining months are recorded, and a single unusual sale carries more weight at seventeen than it would at thirty-nine.

My honest reading: the direction is probably real and the magnitude is uncertain. A buyer should treat 2026 as evidence that values here have turned down, without assuming 14.1% is the final figure. I will re-check when the year completes.

One further point on the ceiling. The record sale is $650,000, from July 2023, and no sale since has approached it. In a building this uniform, the ceiling and the median tend to move together — so a record that is three years old is consistent with the softening the table shows.

Who this building suits

It suits a buyer who wants a compact, low-variation home at an accessible price point. On the county record, entry today is materially cheaper per foot than it was a year ago.

It suits a space buyer not at all. There are no three-bedroom homes, and the largest residence in the building is 1,055 square feet.

For any buyer, two things sit against each other. The uniformity is genuinely useful — pricing is transparent and comparables are meaningful. Against that, values have just fallen sharply, qualified sales fell from 39 in 2023 to 17 in 2026 to date, and the building’s price ceiling has not moved since 2023.

If you are selling here, the difficulty is that your home is nearly identical to your neighbours’, which means the 2026 comparables apply to you directly and there is no floorplate argument to make. Price against the current per-foot figure, and expect a buyer’s agent to have found the same table.

How this building compares: the Miami Condo Index ranks buildings by price per square foot and four-year change from the county record, the Miami Resale Record shows how often resales closed below the seller’s price, and the 100 Latest Sales list shows MLS closings as they post. Every building we cover is on the Miami Luxury Condos page.

Interested in selling at Canvas Miami?

Learn more about selling your condo at Canvas Miami with Josh Stein.

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