M
iami’s real‑estate scene is cooling. Redfin reports a 4% decline in home prices year‑over‑year and a 6% average sale below asking. Listings now sit 125 days on the market, longer for condos. Realtor Drew Kern notes a 16‑month slowdown, with sellers adjusting to realistic 2025 values. Buyers can afford to wait and negotiate below asking with confidence.

    First‑time buyer Greg Wood, now a property investor, recalls the market’s extremes over the past five years. “It’s emotional when the market is hot,” he says. “Now it’s more measured.”

    Ailyn Quesada advises clients that the current buyer’s market lets them submit offers below asking and still expect acceptance.

    Redfin’s October data confirms the trend: prices are cooling as the market softens. Kern observes increased activity in the last month, with more contracts and closings. Sellers are learning they can’t expect 2020 sale prices in 2025.

    The Federal Reserve’s upcoming meeting could see another rate cut, potentially influencing the market further.

    South Florida, Florida