Key facts
- Single-family home inventory in Miami has decreased by 29% year-over-year.
- Median list prices for single-family homes have increased by 6.5% to $799,000.
- International buyers, particularly from Latin America, are driving demand in the condominium market.
- Condominium inventory has risen to 8.5 months, with median prices falling 2.8%.
- The luxury real estate segment is experiencing strong demand due to scarcity and migration.
South Florida's housing market is experiencing a significant divergence in mid-2026, with the single-family home sector facing tight inventory and rising prices, while the condominium market is adjusting to increased supply and more measured price points. Domestic buyers are increasingly looking to establish permanent lifestyles in the region, while international buyers, particularly from Latin America, are drawn to the stability and investment potential of South Florida's condo market, especially those offering short-term rental opportunities.
Single-family home inventory has tightened considerably, falling 29% year-over-year to 13,319 active listings. The median list price for these homes has climbed 6.5% to $799,000, with a mean list price reaching $2.16 million, indicating a strong luxury segment. Fewer sellers are resorting to price cuts, suggesting more realistic expectations. Months of inventory have expanded slightly to 4.5 months, offering buyers a bit more leverage, particularly for move-in-ready homes in desirable locations.
Experts note that domestic buyers are no longer just exploring South Florida but are actively seeking to build a life there. Concurrently, international buyers view South Florida real estate, particularly condos, as a stable asset for capital preservation. The appeal of short-term rental projects with professional management further enhances the attractiveness of the condo market for these investors.
Alfredo Pujol of Miami Realtors highlighted that single-family home sales remain resilient, especially for updated properties that meet buyer expectations. Accurate pricing is crucial, as older listings with outdated prices are experiencing reductions. Properties priced competitively are receiving asking price or even multiple offers above ask. Buyers are prioritizing updated homes in good condition and preferred locations.
International demand is a defining characteristic, with buyers from Colombia and Argentina being particularly active. Currency fluctuations have improved purchasing power for some Colombian buyers, while a strong showing from Argentinians during the World Cup has also boosted activity. The William Residences, with units priced between $480,000 and $1.2 million, has become a sweet spot for these buyers, alongside ultra-luxury apartments in the $20 million to $40 million range.
The condominium market presents a different picture, with median list prices down 2.8% year-over-year to $350,000 and months of inventory significantly increasing to 8.5 months. Active inventory stands at 28,074 units, with a median of 126 days on market. Despite these figures, developers remain active, acquiring land for new projects, citing Miami's land constraints and consistent market absorption. Successful closings at luxury projects like Una Residences and Vita at Grove Isle indicate continued confidence, though mid-market projects may take longer to sell.
The luxury segment, in particular, benefits from scarcity, affluent migration, and sustained demand. High-value transactions are common, and limited land availability in prime areas further supports this segment. Brokers are advised to emphasize the current buying opportunity in Miami, as inventory is being absorbed rapidly, and a shift in global investment patterns is redirecting capital back to the city.