Condo Sales Surge as South Florida Market Heats Up

Key Points

• Miami-Dade condo sales rose to 904 in September 2025, up slightly month-over-month and 2.4% year-over-year.

• Median home prices increased across both Miami-Dade and Broward, with single-family values up about 1.8% annually.

• Inventory expanded, signaling a shift toward a more balanced market, especially for condos, which now sit at 14 months of supply in Miami-Dade.

South Florida’s housing market showed renewed energy in September 2025 as both condo and single-family home sales increased, marking the strongest month of the year for Miami-Dade and Broward counties.

The rebound comes amid declining mortgage rates and tightening condo listings, which have motivated more buyers to return to the market after a slower summer. 

Market Momentum Returns

Miami-Dade County

• Condo median price: $420,000 (flat year-over-year, up $10,000 from August)

• Single-family median price: $665,000 (up 1.8% year-over-year)

• Sales volume: 865 single-family homes sold (up 7% year-over-year), 904 condos sold (up 2.4% year-over-year)

• Inventory: 6.5 months of supply for houses, 14 months for condos

Broward County

• Condo median price: $275,000 (down 2.3% year-over-year)

• Single-family median price: $626,500 (up 1.8% year-over-year)

• Sales volume: 1,048 houses sold (up 13% year-over-year), 973 condos sold (up 5.5% year-over-year)

• Inventory: 5.4 months for houses, 11.6 months for condos

What’s Driving the Uptick

Several factors are fueling the market’s momentum. Pent-up demand and easing mortgage rates have brought sidelined buyers back into play. Meanwhile, new condo listings have declined for five consecutive months, tightening supply and creating upward pressure on prices.

Developers such as Related Group continue to drive new residential construction in Miami, reflecting long-term confidence in the city’s luxury and waterfront markets. Submarkets including Miramar, Plantation, and Davie are attracting both domestic and international buyers who are looking for more affordable alternatives to central Miami.

Investor Takeaway

While annual price growth has moderated, transaction activity is strengthening, pointing to a more stable and sustainable market rather than a slowdown. Condo demand is expected to remain solid heading into 2026 as mortgage rates ease and South Florida continues to draw new residents and investors from across the country and abroad.​​​​​​