MIAMI — Broward County $1M & up total home sales increased year-over-year as condo sales near the median price point also rose, according to February 2026 statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
Total $1M & up home sales increased 19.53% year-over-year, from 169 to 202. Condos priced from $300,000 to $400,000 increased 2.59% year-over-year.
“Condos are the entry point into the South Florida real estate market,” Broward-MIAMI President Sophia Allen said. “Broward offers more price accessibility; more land and more square footage than Miami. Buyers can live in Broward and commute to their Miami jobs, and with the Brightline train, the same is possible with Palm Beach County. All three counties are part of the South Florida region, and each market supports the other in making this one of the nation’s hottest real estate markets.”
Top Broward rankings:
- Domestic migration to Broward County is increasing. Out-of-state driver license exchanges increased 6% year-over-year Broward in 2025, according to MIAMI REALTORS® Research. Top feeder states are: New York, California and New Jersey.
- In Miami–Fort Lauderdale, Fla., the average homeowner has gained about $300,000 in equity in the last five years via NAR data
- Fort Lauderdale ranked No. 7 in the. U.S. among growth cities via U-Haul study.
Broward Single-Family Home Sales Rise
Total Broward sales decreased 0.8% year-over-year in February 2026, from 1,591 to 1,578.
Broward single-family home sales increased 1.12% year-over-year, from 802 to 811.
Broward condo transactions decreased 2.79% year-over-year, from 789 to 767.
The sales total doesn’t include South Florida’s new construction, pre-construction and condo conversion sales because they are largely not reported in the MLS. But MIAMI led the charge to publish two new construction reports.
International buyers purchased 49% of new South Florida construction, pre-construction and condo conversion sales over an 18-month period ending in July 2025, according to MIAMI REALTORS® first-ever New Construction Global Sales Report in collaboration with industry leaders.
Our second New Construction Global Sales Report, published in November 2025, showed an increase in global sales and buyers from 73 countries, according to the MIAMI REALTORS® November 2025 Global Sales Report in collaboration with industry leaders.
Broward Condominium Sale Prices Have Appreciated 100% Since 2008
Broward single-family home median sale prices have increased 122.6% since 2008, from $278,000 to $620,000. Broward single-family home price increased 1.64% year-over-year in February 2026, from $610,000 to $620,000.
Broward condo prices have increased 100% since 2008, from $145,000 to $270,000. Broward condo median sale prices decreased 1.82% year-over-year in February 2026, from $275,000 to $270,000.
South Florida’s surging multifamily market and the Florida Live Local Act should boost affordability in the future. Southeast Florida ranks No. 1 in the U.S. for most multifamily construction, according to MIAMI REALTORS® Research. This is important because it adds more overall housing/apartment supply to a city, creates more affordability and adds to Miami’s economic growth.
Florida’s Live Local Act, which was passed in 2023 and amended in May 2024, is encouraging developers to build more affordable housing. The Live Local Act gives developers the highest density allowed in a local area if they allocate 40% of its units for affordable housing. The state law defines an affordable unit as being at or below 120% of an area’s median income.
South Florida remains a bargain in comparison to other global cities. For $1M, homebuyers can purchase 58 square meters of prime property in Miami, according to the 2025 Knight Frank Wealth Report. That is almost four times more than Monaco (19 square meters), nearly two times more than New York (34) and London (34) and more than Paris, Sydney, Tokyo and more.
Mortgage Rates Forecasted to Increase Due to Geopolitical Events
Mortgage rates, which were above 7% at the start of 2025, have trended down in recent months but they might be on the rise again because of the Iran war and current geopolitical events. According to Freddie Mac, the 30-year fixed-rate mortgage was 6.05% in February 2026.
“I expect South Florida’s million-dollar segment to hold up remarkably well because of the acceleration in wealth migration from high-tax states, the high cash transactions in this segment, and the increased diversification of high-net-worth individuals into real estate,” MIAMI REALTORS® Chief Economist Gay Cororaton said.
Broward Inventory Declines
Total active listings at the end of February 2026 decreased 7.5% year-over-year, from 17,048 to 15,764. Decreasing supply means more buyer competition and upward price pressure.
Inventory of single-family homes decreased 8.02% year-over-year in February 2026 from 5,361 active listings last year to 4,931 last month.
Condominium inventory decreased 7.31% year-over-year in February 2026, from 11,687 to 10,833 listings during the same period in 2025, but the total is still significantly below pre-pandemic.
Months’ supply of inventory for single-family homes is 5 months, which indicates a seller’s market. Inventory for existing condominiums is 11.5 months, which indicates a buyer’s market. A balanced market between buyers and sellers offers between six- and nine-months supply.
Nationally, total housing inventory is 1.29 million units, according to NAR. That is up 4.9% from February 2025. There is 3.8-month supply of unsold inventory, up from 3.6 months from one year ago.
Broward Real Estate: $203 Million in Local Economic Impact
Every time a home is sold it impacts the economy: income generated from real estate industries (commissions, fees and moving expenses), expenditures related to home purchase (furniture and remodeling expenses), multiplier of housing related expenditures (income earned as a result of a home sale is re-circulated into the economy) and new construction (additional home sales induce added home production).
The total economic impact of a typical Florida home sale is $129,000, according to NAR. Broward sold 1,578 homes in February 2026 for a local economic impact of $203 million.
Broward total dollar volume increased 5.48% year-over-year in February 2026 to $1 billion.
Single-family home dollar volume increased 7.75% year-over-year to $723 million. Condo dollar volume increased 0.84% year-over-year to $301 million.
Broward Distressed Sales Remain at Historic Lows, Reflecting Healthy Market
Only 2% of all closed residential sales in Broward were distressed last month, including REO (bank-owned properties) and short sales.
Short sales and REOs accounted for 0.3% and 1.7%, respectively, of total Broward sales in February 2026.
National and State Statistics
In Florida, closed sales of single-family homes statewide totaled 18,379 in February 2026, up 3.9% year-over-year, while existing condo-townhouse sales totaled 7,060, up 8.6%.
The statewide median sales price for single-family existing homes was $412,000, down 0.7% year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $305,000, down 2.4% vs. last year. The median is the midpoint; half the homes sold for more, half for less.
Nationally, total existing home sales increased 1.7% year-over-year to a seasonally adjusted annual rate of 4.09 million, according to NAR. Median existing home prices increased to $398,000, up 0.3% from one year ago ($396,800) – the 32nd consecutive month of year-over-year price increases.
Broward Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 94% in February 2026. The median percent of original list price received for existing condominiums was 93%.
The median number of days between listing and contract dates for Broward single-family home sales was 54 days, up from 49 days last year. The median time to sale for single-family homes was 93 days, up from 84 days last year.
The median number of days between the listing date and contract date for condos was 74 days, up from 67 days. The median number of days to sale for condos was 110 days, up from 105 days.
Broward Cash Sales More than National Figure
Cash sales represented 41.1% of Broward closed sales in February 2026, compared to 40.9% in February 2025. About 31% of U.S. home sales are made in cash, according to the latest NAR statistics.
Cash buyers are not deterred by rising rates. The high percentage of cash buyers reflects South Florida’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash as well as some moving from more expensive U.S. markets who can buy more with their profits from real estate sales.
Cash sales accounted for 56.8% of all Broward existing condo sales and 26.2% of single-family transactions.
To access February 2026 Broward Statistical Reports, visit http://www.SFMarketIntel.com
Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.
About the MIAMI Association of REALTORS®
The MIAMI Association of REALTORS® (MIAMI) was chartered by the NATIONAL ASSOCIATION OF REALTORS® in 1920, and is celebrating 106 years of service to REALTOR® members, the buying and selling public, and the communities in South Florida. Composed of six boards: MIAMI- RESIDENTIAL, MIAMI- COMMERCIAL; BROWARD-MIAMI, a division of MIAMI REALTORS®; JTHS-MIAMI, a division of MIAMI REALTORS® in the Jupiter-Tequesta-Hobe Sound area; MIAMI YPN, our Young Professionals Network Council; and the Corporate Board of Directors. MIAMI REALTORS® represent 60,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local REALTOR® association in the U.S. and has official partnerships with 301 international organizations worldwide. MIAMI’s official website is www.MiamiRealtors.com
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