Miami‑Dade County’s residential property market published strong efficiency in February 2026, with robust apartment sales and stable single‑family home development, according to the Miami Association of Realtors.
Sales and Prices
Overall closed home sales increased 9.6% year-over-year. Single-family deals rose 4.3% to 733 systems, marking six consecutive months of growth, while condominium sales surged 14.7% to 845 units, publishing year-over-year gains in four of the past six months.
Average costs continue a long-lasting upward trajectory. Single-family homes reached a typical of $685,000 in February, up 4.6% from $655,000 a year previously and increasing 154% over the past decade. Condominiums recorded a mean cost of $410,000, down from a recent peak of $455,000, however still double February 2016 levels. Condo prices have stayed flat or increased in 163 of the previous 177 months, while single-family rates have increased in 169 of the last 171 months.
Inventory Trends
Overall active listings decreased slightly for the very first time considering that September 2023, down 0.5% year-over-year to 17,626. Single-family inventory increased 3.3%, while condominium inventory decreased 2% to 12,316 systems, the very first decline considering that July 2023. Months’ supply shows a balanced market for single-family homes at 6.2 months and a buyer’s market for condos at 13.4 months.
Home Mortgage Rates and Geopolitics
Although the February data predates the March escalation of the Iran dispute, experts are factoring in prospective upward pressure on borrowing costs. The 30-year fixed-rate home loan was 6.05% in February, after trending lower from 2025 highs above 7%. Miami Realtors Chief Economic expert Gay Cororaton noted that the high-end market is anticipated to hold up due to wealth migration from high-tax states, high cash deals, and the diversity of high-net-worth purchasers into real estate.
Cash Purchases and Market Characteristics
Money transactions accounted for 42.8% of all Miami closings in February, including 55.2% of condo sales and 28.3% of single-family sales, well above the national average of 31%. Median portions of initial list price received were 94% for single-family homes and 93% for condos. Mean days from listing to contract increased slightly to 55 for single-family homes and 83 for apartments, reflecting moderate cooling in transaction speed.
Dollar Volume and Distressed Sales
Total dollar volume rose 2.21% year-over-year to $1.57 billion. Distressed sales remain very little, making up just 2.9% of total transactions– a far cry from the 70% share seen throughout the 2009 real estate crisis.
Market Outlook
With stock tightening, especially in the condo section, and mortgage rates potentially rising due to geopolitical advancements in March, Miami’s market is anticipated to stay competitive. Experts anticipate continued durability in the high-end and cash-driven sectors, even as cost pressures increase for some purchasers.