MIAMI — Miami-Dade total home sales rose, single-family home transactions increased for the fifth-consecutive month and the resilient condo market maintained steady sales, according to January 2026 statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
Total home sales (+1.2% y/y), single-family home transactions (+2.8% y/y) and total $1M & up home sales (+21% y/y) increased. Miami condo sales have maintained steady year-over-year sales for five straight months.
“Miami is the where the world wants to be,” MIAMI Chairman of the Board Alfredo Pujol said. “Miami is the preferred home for billionaires. Miami’s Billionaire Bunker, an ultra-exclusive private island, is now home to Meta CEO Mark Zuckerberg, Amazon founder Jeff Bezos, financier Carl Icahn, NFL great Tom Brady and more; and that’s only one of our many incredible communities.”
New South Florida real estate rankings:
- #1 Ultra-Luxury Market in the U.S.: In 2025, South Florida posted the most $20M & up condo sales in its history; the second-most $10M & up total home sales in history; the second-most $10M & up single-family home sales; and the third-most $10M and up condo sales in history.
- #1 Market in the U.S. for Cash Buyers: The Miami MSA leads the nation in all-cash sales, which means many buyers are operating on liquidity, not debt, so elevated mortgage rates don’t deter them.
- #1 in the U.S. for Most Multifamily Construction: Southeast Florida has the most intense multifamily construction activity in the nation as of 2025 Q4, with 36,290 units, adding 9% to the current stock via MIAMI REALTORS® Research.
- #1 in Home Equity: Miami-Dade home equity gains are nearly 2X the national figure. As of 2025 Q4, Miami-Dade County homebuyers who purchased a single-family home 15 years ago have a median equity of $560,790 compared to $300,504 nationally via MIAMI REALTORS® Research.
Miami Total Sales Rise
Total Miami-Dade sales increased 1.2% year-over-year in January 2026, from 1,764 to 1,869.
Miami-Dade single-family $1M and up home sales increased 21.34% year-over-year in January 2026, from 164 to 199. Miami-Dade $1M and up condo sales climbed 21.36% year-over-year in January 2026, from 103 to 125.
Affordable condos – priced between $500K to $600K increased 1.5% year over year, from 67 to 68.
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.
Miami-Dade Single-Family Home and Condo Sales Increase
Miami single-family home sales increased for the fifth consecutive month. Miami single-family home sales increased 2.8% year-over-year in January 2026, from 643 to 661.
Miami existing condo sales declined a negligible 0.1% year-over-year in January 2026, from 733 to 732. Miami condo sales had risen year-over-year in three of the last four months.
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%.
Miami-Dade Condominium Sale Prices Have Appreciated 105% in the Last 10 Years
Miami condo prices have risen 105% from January 2016 to January 2026, from $205,000 to $420,000. Miami condo prices increased again in January 2026 year over year, from $415,000 to $420,000.
Miami condo median prices have stayed even or increased in 163 of the last 176 months, a span that covers 14.6 years.
Miami-Dade County single-family home median sale prices increased 3.7% year-over-year in January 2026, from $675,000 to $699,990. Miami single-family median prices have risen in 168 of the last 170 months (14+ years).
Miami single-family prices have risen 159.3% from January 2016 to January 2026, from $270,000 to $699,990.
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 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 Declining
Mortgage rates, which were above 7% at the start of 2025, have trended down in recent months. According to Freddie Mac, the 30-year fixed-rate mortgage was 6.10% in January 2026.
“Bolstered by falling mortgage rates in late 2025 and vigorous demand from high-end buyers, Southeast Florida’s housing market started off strongly in 2026,” MIAMI REALTORS® Chief Economist Gay Cororaton said. “Momentum is likely to strengthen in the months ahead as mortgage rates fall further and as wealth migration from New York and California accelerate due to potential tax policy changes.”
Total Miami Inventory is 25% Below Pre-Pandemic; New Listings Drop
New listings are trending down and active listings are not growing as fast as they were at the start of the year.
Total Miami-Dade inventory (17,942) is 25% below January 2019 pre-pandemic inventory (23,833).
Total active listings at the end of January 2026 increased 5.6% year-over-year, from 16,992 to 17,942. Homebuyers are in a great position to find the right home and negotiate for a better price.
Inventory of single-family homes increased 9% year-over-year in January 2026 from 4,983 active listings last year to 5,433 last month.
Condominium inventory increased 4.16% year-over-year in January 2026, from 12,009 to 12,509 listings during the same period in 2025, but the total is still significantly below pre-pandemic. Current Miami condo inventory (12,509) is 24.2% below January 2019 pre-pandemic inventory (16,518).
Months’ supply of inventory for single-family homes is 6.4 months, which indicates a balanced market. Inventory for existing condominiums is 13.7 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 1.22 million units, according to NAR. That is up 3.4% from January 2025 (1.18 million). There is 3.7-month supply of unsold inventory, up from 3.5 months from one year ago.
Miami Real Estate: $179 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. Miami-Dade sold 1,393 homes in January 2026 for a local economic impact of $179 million.
Miami-Dade total dollar volume increased 13% year-over-year in January 2026 to $1.6 billion.
Single-family home dollar volume increased 15.6% year-over-year to $936 million. Condo dollar volume increased 10.34% year-over-year to $638 million.
Miami Distressed Sales Remain at Historic Lows, Reflecting Healthy Market
Only 2% of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales. In 2009, distressed sales comprised 70% of Miami sales.
Short sales and REOs accounted for 0.6% and 1.4%, respectively, of total Miami sales in January 2026.
National and State Statistics
In Florida, closed sales of single-family homes statewide totaled 16,298 in January 2026, up 5.9% year-over-year, while existing condo-townhouse sales totaled 6,084, up 5.1%.
The statewide median sales price for single-family existing homes was $405,000, down 1.2% 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 decreased 8.4% year-over-year to a seasonally adjusted annual rate of 3.91 million, according to NAR. Median existing home prices increased to $396,800, up 0.9% from one year ago ($393,400) – the 31st consecutive month of year-over-year price increases.
Miami Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 94% in January 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 Miami single-family home sales was 53 days, up from 45 days last year. The median time to sale for single-family homes was 96 days, up from 88 days last year.
The median number of days between the listing date and contract date for condos was 71 days, up from 64 days. The median number of days to sale for condos was 117 days, up from 108 days.
Miami Cash Sales More than National Figure
Cash sales represented 44% of Miami closed sales in January 2026, compared to 42.2% in January 2025. About 27% 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 Miami’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 54.2% of all Miami existing condo sales and 32.7% of single-family transactions.
To access January 2026 Miami-Dade 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 299 international organizations worldwide. MIAMI’s official website is www.MiamiRealtors.com
###
