The Miami-Dade County real estate market continued to demonstrate resilience in November 2025, led by sustained strength in the single-family home market. Despite higher mortgage interest rates and a gradual increase in housing inventory, home sales posted a third consecutive month of growth, according to the Miami Association of Realtors.
Single-Family Home Market Performance
Miami single-family home sales increased 5.3% year over year, reaching 754 closed transactions. This performance highlights the ongoing durability of the single-family housing sector across Miami-Dade County.
The median single-family home price in Miami rose 3.3% to $671,250, continuing one of the longest appreciation trends in the U.S. Miami single-family home values have increased in 167 of the past 168 months, producing a nearly 145% cumulative price gain since 2015—one of the strongest long-term growth records nationwide.
Miami Condominium Market Trends
The Miami condo market experienced additional softening in November. Existing condominium sales declined 3.8% year over year to 764 units, while the median condo price decreased 9.5% to $395,000.
Despite this short-term adjustment, Miami condominium values have nearly doubled over the past decade, remaining stable or higher in 162 of the last 174 months, reinforcing Miami’s long-term appeal for both homeowners and real estate investors.
Total Residential Sales Volume
Overall, Miami-Dade residential real estate sales volume strengthened year over year. Total dollar volume increased 8.5% to $1.4 billion, reflecting continued buyer demand.
• Single-family home sales volume totaled $861 million, up 10% year over year
• Condominium sales volume reached $581 million, a 6.4% increase
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Long-Term Homeowner Wealth in Miami
Miami’s extended housing expansion has generated substantial wealth for homeowners. Properties purchased in Q4 2009 and sold in Q4 2024 produced average equity gains of $555,900 for single-family homeowners, nearly double the national average of $306,600, according to Miami Realtors research.
Miami condo owners realized average gains of $342,600, compared to $252,000 nationwide, further underscoring the market’s long-term value creation.
This appreciation has widened the wealth gap between homeowners and renters. According to the National Association of Realtors, homeowner wealth increased by $140,900 over the past five years. Federal Reserve-based projections estimate median homeowner net worth at $430,000 in 2025, versus approximately $10,000 for renters.
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Miami Housing Inventory & Market Balance
Housing inventory trends point toward a gradual shift to a more balanced Miami real estate market.
• Active listings increased 13.5% year over year to 18,287 homes
• Inventory remains 16.7% below November 2019 pre-pandemic levels
• New listings have moderated, slowing inventory accumulation
Inventory Breakdown
• Single-family home inventory rose nearly 16% to 5,554 homes, representing a 6.5-month supply, generally considered market equilibrium
• Condo inventory increased 12.5% to 12,733 units, reflecting a 14.1-month supply, giving buyers a stronger negotiating position
Nationally, unsold housing inventory totaled 1.43 million units, up 7.5% year over year, equating to a 4.2-month supply, according to NAR.
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Pricing, Days on Market & Transactions
Seller concessions increased modestly as market conditions normalized.
• Single-family homes sold for 94% of original list price
• Condos sold for 93% of original list price
• Median days from listing to contract:
• 46 days for single-family homes
• 72 days for condos
• Average total time to closing:
• 83 days for single-family homes
• 111 days for condos
Distressed sales remained minimal, accounting for only 2.4% of all transactions—well below historical crisis levels. Short sales represented 0.3%, while REO transactions accounted for 2.0%, consistent with national averages.
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Cash Buyers & Miami Real Estate Outlook
Cash buyers remain a defining force in the Miami real estate market, accounting for 36.8% of all November closings, significantly above the national average of approximately 27%.
• Nearly 50% of condo purchases were all-cash
• Approximately 25% of single-family home sales were cash transactions
As housing supply increases and days on market extend, buyers are gaining additional leverage, particularly in the condo segment. At the same time, Miami homeowners continue to benefit from one of the strongest long-term appreciation trends in the United States, reinforcing Miami-Dade County’s position as a premier real estate market.
