MIAMI — Broward County $1M and up condominiums sales increased year-over-year in August 2025, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
Broward $1M and up condominium transactions increased 15% year-over-year in August 2025, from 26 to 30.
“Broward County and Fort Lauderdale luxury real estate performed exceptionally with elevated rates,” BROWARD-MIAMI President Larry Singh said. “Now that the Fed has made its first rate cut and mortgage rates are trending down, it will only unleash more demand from buyers who have been on the sidelines.”
Total Broward County New Pending Sales Rise
Total Broward County new pending sales, a harbinger of future sales activity, increased 2.74% year-over-year in August 2025, from 2,229 to 2,290.
Total sales in August 2025 declined 12.4% year-over-year in Broward County, from 2,270 to 1,989 due to elevated mortgage rates and a lack of inventory in key price points. The market is moving towards balance, which is healthy after the pandemic home-buying craze.
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 a first-ever report.
International buyers purchased 49% of new South Florida construction, pre-construction and condo conversion sales over an 18-month period ending in June 2025, according to MIAMI REALTORS® first-ever New Construction Global Sales Report. Data was aggregated from 9,115 units in 37 new construction condominium projects in the Miami market area. MIAMI collaborated with Cervera Real Estate, ISG World, PMG, SERHANT. New Development and ONE Sotheby’s International Realty for the report.
Broward single-family home sales declined 12.6% year-over-year in August 2025, from 1,161 to 1,015.
Broward $1M & Up Condo Sales Surge
Broward $1M and up condominium transactions increased 15% year-over-year in August 2025, from 26 to 30.
Broward total condo sales declined 12.2% year-over-year in August 2025, from 1,109 to 974. The decline is due to elevated mortgage rates, lack of inventory at key price points and lack of FHA loans. 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. Florida is the only state in the U.S. that requires a client to put down 25% for a limited review if the condo building doesn’t have enough in reserves. The requirement for every other state is 10%.
Broward Single-Family Home Prices Rise
Broward County single-family home median sale prices increased 3.14% year-over-year in August 2025, from $606,000 to $625,000.
Broward existing condo median prices decreased 9.9% year-over-year in August 2025, from $275,000 to $247,700.
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.
South Florida Real Estate Home Equity & Appreciation is Nearly 2X the National Figure
Home equity is crucial for wealth building, provides a financial safety net, investment opportunities, refinancing options and more.
South Florida’s home equity gains are nearly two times the national figure. Home equity gains on a Miami single-family home purchased in Q4 2009 and sold in Q4 2024 is $555,900 versus the U.S. average at $306,600, according to MIAMI REALTORS® Research.
Home equity gains on a Miami condo purchased in Q4 2009 and sold in Q4 2024 is $342,600 versus the U.S. average of $252,000.
Over the last five years, the average homeowner’s wealth has increased by $140,900, according to NAR. Research also shows a growing wealth gap between owners and renters: Based on the latest Federal Reserve Survey of Consumer Finance, NAR projected in March that homeowners’ median net worth would reach $430,000 in 2025 versus $10,000 for renters.
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.
Fed Finally Cuts Rates; Mortgage Rates Declining
The Fed cut rates by 25 basis points last week, with Fed Chair Jerome Powell signaling the possibility of two more cuts before year-end. South Florida’s luxury market soared with elevated rates. With rates declining, it only merits reason a high-demand, low-supply market like South Florida will shine with a reduction in mortgage rates.
According to Freddie Mac, the 30-year fixed-rate mortgage was 6.26% on Sept. 18, 2025.
“The Miami market area’s housing outlook is only poised to turn even brighter as mortgage rates continue to head to 6% by year-end in the wake of the Fed’s latest rate cut,” MIAMI REALTORS® Chief Economist Gay Cororaton said. “In August, we saw buyer momentum and confidence building up based on several indicators: more pending sales for both single-family and condo than last year, peak inventory levels starting to come down, and single-family prices up broadly from one year ago.”
Total Broward Inventory Below Pre-Pandemic; New Listings Drop
New listings continue to fall each month and active listings are not growing as fast as they were at the start of the year.
Total active listings at the end of August 2025 increased 20% year-over-year, from 13,794 to 16,559. Homebuyers are in a great position to find the right home and negotiate for a better price.
New listings for all Broward properties decreased 16.89%, from 3,719 to 3,091. This shows there is no rush to list and that the rise in active listings could decline in the future.
Inventory of single-family homes increased 19.22% year-over-year in August 2025 from 4,604 active listings last year to 5,489 last month.
Condominium inventory increased 20.46% year-over-year in August 2025, from 9,190 to 11,070 listings during the same period in 2024, but the total is still significantly below pre-pandemic.
Months’ supply of inventory for single-family homes is 5.7 months, which indicates a seller’s market. Inventory for existing condominiums is 11.9 months, which indicates a buyer’s market. A balanced market between buyers and sellers offers between six- and nine-months supply.
Broward Real Estate: $256 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 1,989 homes in August 2025 for a local economic impact of $256.6 million.
Broward total dollar volume decreased 3.8% year-over-year in August 2025 to $859 million.
Single-family home dollar volume decreased 3.83% year-over-year to $859 million. Condo dollar volume decreased 15.04% year-over-year to $315 million.
Broward Distressed Sales Remain at Historic Lows, Reflecting Healthy Market
Only 1.2% of all closed residential sales in Broward were distressed last month, including REO (bank-owned properties) and short sales, versus 0.7% in August 2024.
Short sales and REOs accounted for 0.2% and 1.5%, respectively, of total Broward sales in August 2025.
Broward’s percentage of distressed sales are less than the national figure. Nationally, distressed sales have averaged 2%.
State Statistics
In Florida, closed sales of single-family homes statewide totaled 21,798 in August 2025, down 3.9% year-over-year, while existing condo-townhouse sales totaled 7,424, down 6%.
The statewide median sales price for single-family existing homes was $410,000, down 0.4% from the previous 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 $290,000, down 6.5% vs. last year. The median is the midpoint; half the homes sold for more, half for less.
Broward Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 95% in August 2025. The median percent of original list price received for existing condominiums was 91%.
The median number of days between listing and contract dates for Broward single-family home sales was 47 days, up from 32 days last year. The median time to sale for single-family homes was 83 days, up from 73 days last year.
The median number of days between the listing date and contract date for condos was 74 days, up from 56 days. The median number of days to sale for condos was 114 days, up from 99 days.
Broward Cash Sales More than National Figure
Cash sales represented 37.2% of Broward closed sales in August 2025, compared to 33.9% in August 2024. About 20% 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 51.9% of all Broward existing condo sales and 22.9% of single-family transactions.
To access August 2025 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 105 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 58,000 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 288 international organizations worldwide. MIAMI’s official website is www.MiamiRealtors.com
###
