By Gay Cororaton, MIAMI REALTORS Chief Economist
Key Takeaways
- Single-family sales surged 14.3% and pending sales rose 10.3% in November 2025. Seventy-five percent of local markets saw year-over-year increase in single-family sales.
- Condominium/townhome sales surged 4.2% and pending sales rose 9.7% in November 2025. Fifty-seven percent of local markets saw year-over-year increase in single-family sales.
- Months’ supply of active inventory continued to decline to 5 months’ supply from 6 months’ supply in the first half of the year new listings fell 7.7% year-over-year while new pending sales rose 10.3%, supporting sustained price growth.
Download the November 2025 Southeast Florida Housing Report HERE.
Single-family sales surged 14.3% in November 2025
Southeast Florida’s housing market is ending the year on a high note. Falling mortgage rates in the second half of the year kicked up homebuying, with single-family sales up for the third consecutive month in November across all Southeast Florida counties. With this positive momentum, the housing market is poised for a turnaround in 2026, with single-family sales projected to increase 5% and single-family prices forecasted to increase 3%.
Single-family closed sales for the third consecutive month in all Southeast Florida counties in November 2025, up an annual pace of 14.3% overall: Miami-Dade (5.3%), Broward (14.2%), Palm Beach (19.0%), Martin (12.6%), and St. Lucie (22.5%).
In Miami-Dade County, 75% of market areas with at least 10 sales in the month saw higher sales from one year ago, such as Miami (5%), Homestead (3%), Hialeah (25%), Coral Gables (30%), Miam Beach (27%), and North Miami (31%).
In Broward County, 72% of market areas saw more sales from one year ago, such as Hollywood (33%), Coral Springs (35%), Pembroke Pines (15%), Plantation (17%), Davie (11%), and Weston (19%).
In Palm Beach County, 87% of market areas had higher sales from one year ago, such as Boca Raton (8%), West Palm Beach (19%), Palm Beach Gardens (48%), The Acreage (29%), Boynton Beach (7%), and Jupiter (6%).
In Martin County and in St. Lucie County, 75% of market areas saw more sales from one year ago, such as Palm City (8%), Port Salerno (71%), Stuart (67%), and Port St. Lucie (13%).
Pending sales of single-family homes rose at an overall annual pace of 10.3% in November 2025 in the five counties: Miami-Dade (-0.5%), Broward (11.9%), Palm Beach (17.7%), Martin (17.4%), and St. Lucie (7.1%).
Lower mortgage rates have without a doubt kicked up homebuying in the second half of the year. The 30-year fixed mortgage rate slid down to an average of 6.24% in November from 6.81% one year ago. Along with the price adjustment in some areas, buyers have seen significant reductions in the monthly mortgage payment. For single-family homes, buyers have saved north of $200 monthly in mortgage payments in Miami-Dade (-$212), Broward (-$287), Palm Beach ($-274), Martin (-$127), and St. Lucie ($-95).
Condominium pending sales up 9.7% in November 2025
In the condominium/townhomes market, closed sales rose at year-over-year pace of 4.2% overall in the five counties due to double-digit growths in Palm Beach County (20.7%) and St. Lucie County (40.9%) that offset the sales decline in Miami-Dade (-3.8%), Broward (-0.1%), and Martin (-16.9%).
In Miami-Dade County, 50% of market areas with at least 10 sales in the month had higher condominium/townhome sales compared to one year ago, including Miami Beach (8%), Sunny Isles (39%), Doral (12%),Homestead (37%), and North Bay Village (100%).
In Palm Beach County, an astounding 98% of market areas saw higher condominium/townhome sales in November from one year ago, such as Boca Raton (81%), West Palm Beach (18%), Delray Beach (12%), Boynton Beach 38%), Palm Beach Gardens (6%) ,and Jupiter (91%).
In Martin County and St. Lucie County, two of the three areas with at least 10 condominium/townhome sales in November had higher sales from one year ago: Fort Pierce (53%) and Port St. Lucie (12%).
However, in Broward County, just 32% of areas saw higher condominium/townhome sales compared to one year ago: Pompano Beach (26%), Pembroke Pines (43%),Hallandale Beach (1-%), Coconut Creek (58%), and Plantation (48%).
Inventory slides down from peak levels in the first half of 2025 portending sustained price growth
Single-family Inventory measured in months’ supply has stopped rising and is now inching downwards. The declining months’ supply of inventory is likely to hold prices up, particularly for single-family homes.
In the counties of Broward, Palm Beach, Martin, and St. Lucie, months’ supply has edged down to 5 months’ supply after rising to 6 months’ supply in the first half of the year. In Miami-Dade County, months’ supply has stabilized at 7 months’ supply since May.
In the condo market, months’ supply of active inventory has also declined from the peak levels in the first half of the year to lower levels as of November In Broward (from 13 months to 12 months), Palm Beach ( from 10 months to 9 months), Martin (from 10 months to 8 months) ,and St. Lucie (from 12 months to 9 months). In Miami-Dade, month’s supply of condominium inventory has been stable at 14 months’ supply since June.
Homeowners have held back from putting their homes on the market in a large part due to the rate lock-in effect. Nationally, 8 out of 10 mortgages have a mortgage rate of less than 6%.
Sellers also are opting to rent out than sell their homes, waiting for prices to pick up more robustly. Among single-family sales and rental transactions on the MIAMI MLS, the share of single-family home rentals rose to 39% in 2025 from 29% in 2019. Among condo/coop/townhome transactions, rentals accounted for 69% of transactions in 2025, up from 62% in 2019.
2026 Outlook: Single-family sales rebound and sustained price appreciation
MIAMI Realtors® expects that auspicious conditions in 2026 and the homebuying momentum going into 2026 to lead to a turn-around in home sales after four years of decline: a continuing decline in mortgage rates, incomes rising at a faster pace than prices, and an acceleration in talent and wealth migration, particularly from New York City where businesses and residents could face higher corporate and income taxes.
MIAMI Realtors® projects mortgage rates to hit 5.8% by the end of 2026 with a potential 25 basis points cut in the fed funds rate in 2026. Coupled with strong income growth arising from a continued shift towards higher-paying jobs in healthcare, tech, and finance, affordability conditions will improve in 2026, spurring an uptick in sales.
MIAMI Realtors® projects single-family home sales to increase about 5% in 2026 and prices to typically increase about 3%.
In the condo market, the decline in home sales and prices will likely continue to moderate at a single-digit pace as affordability improves and as condo owners benefit from legislation (HB 913) intended to ease the financial burden from complying with the new condominium safety laws. See Lower Mortgage Rates and Rising Out-of-State Migration to Spark South Florida Home Sales – MIAMI REALTORS®
