MIAMI — Broward County total home sales rose year over year for the third consecutive month, according to May 2026 statistics released by MIAMI REALTORS® + RWorld, the MIAMI MLS and BeachesMLS.
Total home sales increased 0.9% year-over-year. Single-family home transactions rose 3.2%, while condo sales increased 5.4%. Sales of Broward properties priced at $1 million and above climbed 17.6% from a year earlier. At the more accessible end of the market, condo sales in the $400,000 to $500,000 price range surged 12% year-over-year.
“The continued growth of South Florida real estate is driven in large part by the connectivity between our counties,” MIAMI REALTORS® + RWorld BROWARD-MIAMI President Sophia Allen said. “Brightline and Tri-Rail are strengthening regional mobility, giving residents greater flexibility in where they live and work. At the same time, the significant wealth migration into our region continues to fuel demand.”
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 Total Sales Rise
Total Broward sales increased 0.9% year-over-year in May2026, from 2,124 to 2,145.
Broward single-family home sales increased 3.24% year-over-year in May 2026, from 1,110 to 1,146.
Broward existing condo sales decreased 1.48% year-over-year in May 2026, from 1,014 to 999.
The lack of Federal Housing Administration loans for many existing Miami condominium buildings is preventing further market strengthening. Of the 2,397 condominium buildings in Miami-Dade, Broward and Palm Beach counties, only 21 are approved for FHA loans, according to statistics from the U.S. Department of Housing and Urban Development.
Just 0.9% of South Florida condo buildings are approved for FHA loans.
Fannie Mae and Freddie Mac are eliminating the limited review option for many condo loans beginning Aug. 3, 2026. For decades, Florida condominium borrowers and owners faced stricter lending standards and higher financing hurdles than those in many other states. The updated guidelines are expected to create a more transparent and financially secure lending environment.
Broward Condominium Sale Prices Have Appreciated 104% Since 2008
Broward condo prices have increased 104% since 2010, from $135,000 to $275,000.
Broward County condo median sale prices stayed even at $275,000 in May 2026 versus May 2025. Condo inventory is declining year-over-year, which will put upward pressure on prices.
Broward single-family home prices increased 0.80% year-over-year in May 2026, from $625,000 to $630,000.
Boward single-family prices have risen 126.2% since 2008, from $278,000 to $630,000.
MIAMI REALTORS® + RWorld continues to support cross-sector stakeholder solutions – like removing obstacles to permitting and zoning, funding the Florida Hometown Heroes Program, and creating pathways for accessory dwelling units (ADUs) – to facilitate both the creation and preservation of safe and affordable housing.
Miami’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.
Miami 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 2026 Knight Frank Wealth Report. That is almost four times more than Monaco (16 square meters), nearly two times more than New York (34) and London (33) and more than Paris (37), Tokyo (37) and more.
Elevated Mortgage Rates
Mortgage rates are trending up because of inflation, the Iran war and current geopolitical events. According to Freddie Mac, the 30-year fixed-rate mortgage was 6.44% in May 2026.
“South Florida’s housing market has remained remarkably robust despite rising mortgage rates that could hit 6.7% by year-end per MIAMI REALTORS® + RWorld latest outlook update,” MIAMI REALTORS® + RWorld Chief Economist Gay Cororaton said. “This year is shaping up to be the strongest yet since 2021 due to the phenomenal surge in million-dollar sales that have surged nearly 20% from one year ago.”
Total Broward Inventory Declines
Total active listings at the end of May 2026 decreased 18.6% year-over-year, from 17,959 to 14,615. Decreasing supply means more buyer competition and upward price pressure.
Inventory of single-family homes decreased 22.21% year-over-year in May 2026 from 5,862 active listings last year to 4,560 last month.
Condominium inventory decreased 16.88% year-over-year in May 2026, from 12,097 to 10,055 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 4.5 months, which indicates a seller’s market. Inventory for existing condominiums is 10.6 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 1.55 million units, according to NAR. That is up 0.6% from May 2025. There is 4.5-month supply of unsold inventory, down slightly from 4.6 months from one year ago.
Broward Real Estate: $276 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 2,145 homes in May 2026 for a local economic impact of $276 million.
Broward total dollar volume increased 8.42% year-over-year in May 2026 to $1.4 billion.
Single-family home dollar volume increased 10.60% year-over-year to $1 billion. Condo dollar volume increased 3.41% year-over-year to $381 million.
Broward Distressed Sales Remain at Historic Lows, Reflecting Healthy Market
Only 0.8% 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 0.2% and 0.6%, respectively, of total Broward sales in May 2026.
State & National Sales
In Florida, closed sales of single-family homes statewide totaled 24,915 in May 2026, up 0.6% year-over-year, while existing condo-townhouse sales totaled 8,897, up 6.6%.
The statewide median sales price for single-family existing homes was $425,000, up 2.4% 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 $306,990, down 1% vs. last year. The median is the midpoint; half the homes sold for more, half for less.
Nationally, total existing home sales increased 3.2% year-over-year to a seasonally adjusted annual rate of 4.17 million, according to NAR. Median existing home prices increased to $429,300, up 1.3% from one year ago ($423,700) – the 35th 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 96% in May 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 35 days, up from 38 days last year. The median time to sale for single-family homes was 73 days, up from 78 days last year.
The median number of days between the listing date and contract date for condos was 66 days, up from 65 days. The median number of days to sale for condos was 104 days, up from 100 days.
Broward Cash Sales More than National Figure
Cash sales represented 36.1% of Broward closed sales in May 2026, compared to 35.1% in May 2025. About 25% 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 52.2% of all Broward existing condo sales and 22.1% of single-family transactions.
To access May 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 MIAMI REALTORS® + RWorld
MIAMI REALTORS® + RWorld 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 eight boards: MIAMI RESIDENTIAL, COMMERCIAL; BROWARD; JTHS; PALM BEACH; TREASURE COAST; YOUNG PROFESSIONALS NETWORK (YPN); and the Corporate Board of Directors. MIAMI REALTORS® + RWorld represent approximately 93,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local REALTOR® association in the world and has official partnerships with 307 international organizations worldwide. MIAMI REALTORS® + RWorld, along with their respective Multiple Listing Services, MIAMI MLS and BeachesMLS, merged on May 11, 2026 in the largest merger in NAR history. The organization’s proposed new name will be Miami and South Florida REALTORS®, pending approval by NAR. MIAMI’s official website is www.MiamiRealtors.com RWorld’s official website is www.RWorld.com
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