By Gay Cororaton, MIAMI REALTORS Chief Economist
Key Takeaways
- Southeast Florida’ housing market finished strong in December 2025, with single-family sales up 14.4% year-over-year and 0.2% for the full year following a 3-year decline.
- In the condominium/townhome market, sales jumped 13.7% year-over-year, with full-year sales declining at a smaller pace of 7.1% compared to double-digit declines in the past three years.
- Inventory continued to be drawn down, with active inventory at the end of the year falling below last year’s levels in Palm Beach County, Martin County, and St. Lucie County. Expect more buyer competition and rising prices in 2026.
Download the 2025 Q4 Southeast Florida Housing Market Report HERE.
Single-family sales surged 14.4% in December 2025
Bolstered by declining mortgage rates, Southeast Florida’s housing market finished strong in December 2025, with both single-family and condominium sales up a remarkable 14% from one year ago. This momentum is likely to pick up further in 2026, leading to heightened buyer competition and higher prices as demand intensifies due to lower mortgage rates and increased out-of-state migration while inventory of homes on the market remains tight, particularly for homes at $400,000 and below which a typical household can afford.
Closed sales of single-family homes rose 14.4% overall, with sales up in all counties led by Martin (30.1%), followed by Miami-Dade (3.7%), Palm Beach (23.0%), St. Lucie (16.3%), Broward (10.6%), and Miami-Dade (3.7%). This is the fourth consecutive month of sales growth across all counties.
For the full year, total closed sales in the five counties notched up 0.2% gain, marginal yet significant as it marks a new cycle after three years of decline. Single-family sales rose in Palm Beach Beach County (+4.9%), Martin County (5.4%), and St. Lucie County (2.1%), ofsetting the decline in Miami-Dade County (-4.9%) and Broward County (-1.9%).
In Miami-Dade County single-family segment, 68% of the 28 market areas with at least 10 sales in the month saw the same or higher sales in December from one year ago, with a mix of high-price tier and lower-price tier markets that included Miami (12%), Miami-Gardens (2%), Hialeah (9%), Cuttler Bay (17%), Palmetto Bay (4%), and Miami Beach 16%).
In Broward County, 68% of 22 market areas saw the same or more sales from one year ago that included Fort Lauderdale (34%), Coral Springs (21%), Miramar (12%), Plantation (20%), and Pompano Beach (46%).
In Palm Beach County, 94% of 16 markets had the same or higher sales from one year ago that included West Palm Beach (56%), Boca Raton (21%), Palm Beach Gardens (19%), Wellington(88%), and The Acreage (15%).
In Martin County and in St. Lucie County, 80% of 10 markets had the same or higher sales from one year ago that included Palm City (30%), Jensen Beach (45%), Hobe Sound (45%), Stuart (30%), and Port St. Lucie (16%).
Condominium/townhome sales jumped 13.7% in December 2025
In the condominium/townhomes market, lower mortgage rates and legislation providing financial relief for condo owners and increasing transparency and accountability of condo associations (HB 913) and legislation streamlining the My Safe Florida Condominium Pilot Program (HB 393) that provides grants to associations for hurricane mitigation are reviving the condo market.
Condominium/townhomes sales rose 13.7% in December as sales increased in all counties led by Martin (41.1%) followed by Palm Beach (31.2%), St. Lucie (10.8%), Miami-Dade (7.9%), and Broward (5.2%).
In Miami-Dade County, 74% of 19 markets with at least 10 sales in the month saw higher sales in December from one year ago that included Miami Beach (13%), Sunny Isles Beach (32%), Coral Gables (92%), Doral (15%), and Kendall (14%).
In Broward County, 50% of 22 markets had the same or higher sales from one year ago that included Pompano Beach (23%), Hollywood (13%), Deerfield Beach (51%), Tamarac (22%), and Hallandale Beach (9.0%).
In Palm Beach County, 93% of 14 markets saw the same or higher sales in December from one year ago that included Boca Raton (38%), West Palm Beach (38%), Delray Beach (6%), Jupiter (59%), and Palm Beach (150%).
In Martin County and St. Lucie County, three of the five markets saw the same or higher sales in December from one year ago: Palm City (150%), Stuart (47%), and Hutchinson Island South (200%).
For the full-year, sales were still below the levels one year ago in Miami-Dade County (-10.2%), Broward County (-9.4%), Palm Beach County (-1.7%), Martin County (-2.8%), but slightly rose in St. Lucie County (0.3%). However, these are smaller declines than the double-digit dips in 2022-2024.
By age of the building, older condominiiums that are affordable typically sell faster than newer condominiums.Among MIAMI MLS listings that cover mainly Miami-Dade and Broward, the median days on market in 2025 among condominiums 25 years and older was 78 days compared to 93 days for condominiums less than 25 years. However, more sales are transpiriing for condos less than 25 years, up 2% compared to a 6% decline for condos 25 years and over.
Wealthy buyers and global buyers are bolstering the sales of new condominiums. MIAMI Realtors New Construction Global Sales Report released in November shows a strong foreign buyer demand for new construction, with foreign buyers taking up 52% of sales, of which 86% are from Latin America. Foreign Buyers & Market Update – MIAMI REALTORS®
Active Inventory as of December is now lower than one year ago in Palm Beach, Martin County, and St. Lucie County
Inventory is tightening again, and this trend is likely to hold in 2026, resulting increased buyer competition and stronger price appreciation.Active listings of single-family homes as of the end of December are now below the levels one year ago in Palm Beach County (-4.7%), Martin County (-5.3%), St. Lucie (-0.4%). Active inventory is still higher from one year ago in Miami-Dade County (+12.1%) and in Broward County (+2.2%), but the increase is well below the pace in the first half of the year that hovered at 40%.
In the condominium/townhomes market, active inventory as of December 2025 has also fallen below the levels one year in Palm Beach County (-5.0%) and in St. Lucie County (-6.0%) and just up modestly in Miami-Dade County (+6.7%), Broward County (+2.4%), and Martin County (+0.3%).
Active inventory has been declining with fewer new listings than pending listings coming onto the market. In December, new pending sales surged 28.3% overall in Southeast Florida while new listings fell 2.8% for single-family homes. In the condominium market, new pending sales jumped 32.7% while new listings pulled back 14.7%.
Listings have declined with homeowners seemingly holding out for a stronger market recovery and due to the mortgage rate lock-in effect. As of 2025 Q3, the average mortgage rate of outstanding residential mortgages in Florida was 4.6%, according to FHFA . There is also a scarcity of single-family homes affordable to the typical household, weakening homeowner mobility. In Miami-Dade, single-family homes below $600,000 accounted for just 27% of the active inventory at the end of December, while $400,000 homes and below made up just 3%. Million-dollar homes account for the largest share, at 38%.
2026 Outlook: Single-family sales rebound and sustained price appreciation
MIAMI Realtors® expects the homebuying momentum to pick up further in 2026, with buyer competition intensifying and prices strengthening. On the demand side, mortgage rates are likely to inch down further as the Fed navigates to reinvigorate the economy without igniting inflation. President Trump has also instructed Fannie Mae and Freddie Mac to increase their mortgage acquisitions by $200 billion, which pushed down mortgage rates to 5.99% after the announcement. MIAMI Realtors® projects mortgage rates to hit 5.8% by the end of 2026.(See Lower Mortgage Rates and Rising Out-of-State Migration to Spark South Florida Home Sales – MIAMI REALTORS®)
Along with higher demand from lower mortgage rates, increased migration flows from New York City and California where businesses and residents could face higher corporate and income taxes will drive higher demand.
MIAMI Realtors® projects single-family prices to increase about 3% in 2026 and condo prices to remain essentially flat as the buildup in inventory continues to wind down.
