M
iami‑Dade County’s real‑estate market hit a record high in September 2025, with all‑property sales up 5 % and single‑family transactions rising 7 %. Condo sales grew 2 %, while the total dollar volume climbed 11 % and high‑value deals ($1 M +) surged 20 % year‑over‑year.
Eddie Blanco, MIAMI Association of REALTORS® Chairman, said the surge reflects pent‑up demand and falling mortgage rates that are pulling buyers off the sidelines. He noted that condo listings have fallen for five straight months, tightening supply and pushing prices higher.
**Key market rankings (2025)**
- Miami tops the U.S. for all‑cash sales, with 43 % of transactions completed in cash, a figure that protects the market from recession and rate hikes.
- The Miami‑Fort Lauderdale‑West Palm Beach region ranks third nationwide for skilled job growth (Lightcast).
- Miami is the 26th most important global financial centre (Global Financial Centres Index).
**Wealth migration and high‑value sales**
Total sales rose 4.6 % to 1,769 units, driven largely by $1 M + deals that increased 19.9 % to 355 transactions. The region is on track for the second‑most $10 M + sales in a calendar year, with an estimated 426 ultra‑luxury transactions projected by year‑end—just shy of the 444 record set in 2021.
International buyers accounted for 49 % of new construction, pre‑construction, and condo‑conversion sales in the past 18 months, based on MIAMI’s first Global Construction Sales Report covering 9,115 units across 37 projects.
**Single‑family and condo performance**
- Single‑family sales grew 6.92 % to 865 units.
- Existing condo transactions increased 2.38 % to 904 units.
- Affordable condos (≤ $250k) jumped 30.3 % to 159 units.
- $1 M + condo sales rose 12.71 % to 133 units.
Only 21 of 2,397 Miami‑Dade condo buildings qualify for FHA loans, a mere 0.9 % of the market, limiting financing options for many buyers. Florida’s unique 25 % down‑payment requirement for non‑reserve‑adequate buildings further constrains affordability.
**Price appreciation**
Condo prices have risen 110 % over the past decade, from $200,500 to $420,000. The median condo price held steady at $420,000 in September 2025, a level that has remained flat or higher for 162 of the last 172 months.
Single‑family homes saw a 1.8 % year‑over‑year price increase to $665,000, with a 150 % rise since 2015.
**Equity gains**
Miami’s home equity gains outpace the national average by nearly 100 %. A single‑family home bought in Q4 2009 and sold in Q4 2024 yielded $555,900 in equity versus the U.S. average of $306,600. Condo equity gains were $342,600 versus the national $252,000.
**Policy and market drivers**
The 2023 Live Local Act, amended May 2024, incentivizes developers to allocate 40 % of units to affordable housing, allowing the highest local density. Affordable units are defined as ≤ 120 % of the area’s median income.
Mortgage rates are falling; Freddie Mac reports the 30‑year fixed at 6.35 % in September 2025. MIAMI’s Chief Economist, Gay Cororaton, expects buyer momentum to strengthen as rates approach 6 % and the condo market stabilizes, buoyed by skilled‑worker migration and Baby‑Boomer retiree demand.
**Inventory trends**
Total inventory is 16.6 % below pre‑pandemic levels (18,057 units vs. 21,624 in September 2019). Active listings grew 20.1 % year‑over‑year to 18,057, while new listings fell 9.45 % to 3,344.
Single‑family inventory rose 20.74 % to 5,437 units; condo inventory increased 19.83 % to 12,620 units, still 16.7 % below 2019 levels.
Months of supply: single‑family homes at 6.5 months (balanced market), existing condos at 14 months (buyer’s market).
**Distressed sales**
Only 1.9 % of closed residential sales were distressed in September 2025, down from 1.1 % in September 2024 and far below the 70 % seen in 2009. REO and short sales comprised 0.2 % and 1.8 % respectively, lower than the national average of 2 %.
**Economic impact**
Miami‑Dade’s 1,769 home sales generated a $228 million local economic impact, reflecting commissions, moving expenses, home‑related spending, and construction ripple effects. The total dollar volume reached $1.6 billion, up 11.42 % year‑over‑year.
**Cash sales**
Cash transactions accounted for 35.2 % of Miami closed sales in September 2025, higher than the national 30 % average. Cash buyers dominate condo sales (46.5 %) and single‑family transactions (23.2 %). The high cash‑sale rate underscores Miami’s status as a prime destination for foreign buyers and high‑net‑worth U.S. buyers.
For full September 2025 statistical reports, visit http://www.SFMarketIntel.com.
**About MIAMI Association of REALTORS®**
Founded in 1920, MIAMI serves 58,000 real‑estate professionals across South Florida and partners with 290 international organizations. Its six boards cover residential, commercial, and regional markets, and its website is www.MiamiRealtors.com.
