As a Realtor, you always get asked “how’s the market?” To answer that question in detail, I created the Miami Condo Market Report.
How is the Miami condo market right now?
Miami-Dade condos are a buyer’s market and have been for a while. The county median sold price was $410,000 in July 2026, up about 1% from a year ago, on 1,007 closed sales. There were 12,642 condos on the market, which is roughly 12.6 months of supply. Anything above six months is generally considered a buyer’s market, and condos are sitting at double that. Condos took an average of 102 days to sell and closed at about 95.7% of list price.
Brickell and Downtown are the softest submarkets in the county, at 20.0 and 22.1 months of supply. South Beach is tighter at 11.9. If you own a condo and are deciding whether to sell now or wait, the supply number matters more than the median: you are competing with a lot of other listings, and pricing is what moves a unit.
| Submarket | Median sold | Sold | Active | Months of supply | List-to-sold | Avg DOM | 6 mo | YoY |
|---|---|---|---|---|---|---|---|---|
| Brickell | $570,000 | 42 | 840 | 20.0 | 94.7% | 117 | +1.8% | -5.0% |
| Downtown Miami | $505,000 | 35 | 775 | 22.1 | 95.4% | 99 | -4.3% | +9.8% |
| South Beach | $475,000 | 75 | 895 | 11.9 | 94.8% | 100 | -28.5% | +31.9% |
| Coral Gables | $481,500 | 18 | 142 | 7.9 | 95.3% | 104 | -29.5% | -- |
| Coconut Grove * | $1,799,000 | 3 | 42 | 14.0 | 87.5% | 94 | +78.2% | -- |
| Miami-Dade County | $410,000 | 1,007 | 12,642 | 12.6 | 95.7% | 102 | -2.4% | +1.2% |
Closed sales through July 2026. Source: Miami MLS, compiled by Thomas Druck PA. Months of supply is active listings divided by the month's closed sales. Days on market is the average reported by the MLS.
* Fewer than 8 closed sales in the month. A median drawn from that few sales moves on individual transactions and should not be read as a market-wide trend.
Miami condos vs houses
The condo number only means something next to the house number. Single-family homes in Miami-Dade are a different market entirely: about 5.8 months of supply against 12.6 for condos, 68 days on market against 102, and a median up roughly 4% year over year against 1% for condos. Same county, same month, two very different pictures. Anyone telling you “the Miami market” is doing one thing is not looking closely enough.
| Submarket | Median sold | Sold | Active | Months of supply | List-to-sold | Avg DOM | 6 mo | YoY |
|---|---|---|---|---|---|---|---|---|
| Condos | ||||||||
| Miami-Dade County | $410,000 | 1,007 | 12,642 | 12.6 | 95.7% | 102 | -2.4% | +1.2% |
| Single-family homes | ||||||||
| Miami-Dade County | $690,000 | 893 | 5,171 | 5.8 | 97.5% | 68 | -0.8% | +4.4% |
Closed sales through July 2026. Source: Miami MLS, compiled by Thomas Druck PA. Months of supply is active listings divided by the month's closed sales. Days on market is the average reported by the MLS.
Why the honest answer is "it depends"
Of course, the short and quick answer is “it depends.” And it always does depend. Real estate markets are not only hyperlocal, as in one building could have a very different market situation than the building next to it, but it also depends on which market segment you are looking at. Are you buying a single-family home? A condo? A multifamily investment property? Are you planning on selling?
Why do many realtors always say that the market is great? If you’re like most people, you probably think we’re typical sales people. Always telling you what you want to hear.
While that might be correct for some realtors, it’s definitely not true for all of us. I do strongly believe in statistics, or facts as you might call them.
The market however is almost always great for someone. If we are in a seller’s market and you want to sell, you’ll probably agree that the market is great, however the buyer looking to acquire a property at a good price in the same market will certainly disagree with you. Vice versa in a buyer’s market. You get the gist.
How to read these numbers
Word of caution: the county rows above cover ALL of Miami-Dade. The submarket rows narrow it down, but even a submarket is an average of very different buildings. If you really want to know whether it’s a good time for you to buy or sell, you have to get more specific than any table can be: your zip code, your neighborhood, and ultimately your building.
Want the numbers for your building rather than your submarket? Start with a Net Proceeds Review and I will pull the building-level comps with it.
Two condo buildings a few blocks apart can have completely different histories. One can multiply in value over two decades while the other barely holds what it was worth, and no countywide median will ever tell you which one you own.
That is the whole reason this report is broken out by submarket and by property type instead of published as a single countywide figure.
Where these numbers come from
Figures are compiled from the Miami MLS for closed sales in the month shown. Months of supply is active listings divided by that month’s closed sales. Days on market is the average reported by the MLS. Submarkets with only a handful of closed sales in a month are marked, because a median drawn from two or three sales moves on individual transactions and should not be read as a market-wide trend. The same underlying numbers power the dashboard at stats.thomasdruckrealtor.com.
Want the numbers for your building?
If you are looking to buy or sell a Miami-Dade condo, I am more than happy to run the numbers for you, so you can make an educated decision.
If you own a condo and want to know what these numbers mean for your unit specifically, the fastest starting point is a net proceeds estimate. It takes a couple of minutes and you get the figure without talking to anyone first.