Median home price: $569,256 — a 5.1% year-over-year increase.
Price per square foot: $390
These figures indicate a steady rise in home values, reflecting continued demand in the broader Miami-Dade residential market.
February 2025 Snapshot (Metro Miami)
Single-family homes:
Sales dropped 8% YoY to 703 units.
Median sale price slightly increased to $655,000 (+0.8%).
Inventory rose 32%, with months of supply climbing to 5.8 months
Townhomes & Condos:
Sales down 21.7% to 737 units.
Median price at $455,000 (+8.3%).
Inventory up 42%, resulting in 12.6 months of supply
Interpretation: Single-family homes remain relatively balanced, while condo and townhome markets face softer demand and abundant inventory — prices showing moderate growth amid cooling sales.
🏢 Commercial & Office Sector
Miami ranked #1 U.S. office market (April 2025)
Vacancy rate at a low 15.5% (national average ~19.7%).
Listing rates rose 15% YoY to $56.50/sq ft, outpacing the national average of +5%
This signals robust demand in Miami’s office sector, with tight vacancy conditions fueling rent growth and making it the top-performing market.
🏗 Commercial Transactions — Q1 2025 (Southeast Florida)
Total commercial real estate trades (multi-family, office, industrial, retail): $2.9 billion, a 32% increase YoY
Miami-Dade County: $1.4 billion of transactions (+30% YoY).
Sector breakdown:
- Office: +185% to $900 million.
- Multifamily: +48% to $1 billion.
- Industrial: –32%, Retail: –12%
Interpretation: Investors are increasingly focusing on high-quality assets, especially in office and multi-family. The decline in industrial/retail deals suggests shifting portfolio priorities.
🌍 International Buyers — Early 2025 Trends
Foreign buyer activity (2024):
- 18% from Argentina, 14% Colombia, 8% Canada, 6% Brazil & Mexico.
- Miami-Dade attracts 67% of international buyers; 68% of Argentine and 79% of Brazilian purchases in the county
- Median foreign purchase prices range from ~$470k to $625k, mostly condos, and 67–75% are cash purchases.
- Miami-Dade remains a top global destination for international real estate investment, especially in the condo market.
📈 Industrial Market Snapshot (2024 Q2)
Rent growth: 8.4% YoY, above national average (~3.6%).
Vacancy rate: Low at just 4.5%.
Nearly 5 million sq ft under construction (+2.7% of current inventory)
The industrial sector shows strong fundamentals, typified by healthy rent growth and limited vacancies.
📊 Summary Insights
- Segment Key Indicators Commentary
Residential — SF Modest price gain; rising inventory, balanced market - Buyer power improving amid steady pricing
Condos/Townhomes Strong price gains (+8%), large inventory High supply dampening sales — watch for softening trends - Office Tight vacancy, strong rent growth (+15%) Leading U.S. office market; prime for investors
- Commercial $2.9B volume (+32%), strong interest in office/family Investor focus shifting to stable, income-generating assets
- Industrial Rent growth +8%, low vacancy, significant development Poised for continued strength
- Foreign Buyers Cash-rich buyers from Latin America dominate Global demand remains a key driver, especially for condos
🔮 Outlook & Recommendations
Buyers: Consider single-family homes for balance, but undercut condo options due to rising supply.
Investors: High potential in office and multifamily in Miami-Dade; pay close attention to new industrial completions.
Sellers/Developers: Now is ideal for listing office/multifamily; condo developers may face inventory challenges ahead.
