By Gay Cororaton, MIAMI REALTORS + RWorld Chief Economist
Key Takeaways
- June home sales rose for the 10th straight month, up 18.6% year-over-year, with sales up in both the single-family and condominiums/townhomes segment and in all five counties. Year-to-date sales rose 7.9%, outpacing the 2.2% increase nationally.
- Millon-dollar sales in June surged 39.7% year-over-year, with year-to-date sales up 21.9%. Sales of $10 million or more rose to the highest six-month level at 306 sales, with 88% all-cash.
- Active inventory continued to decline, down 18% year-over-year, providing support for stronger price gains. Median single-family sales prices rose year-over-year in June across all counties.
Download the June 2026 South Florida Housing Market Report HERE.
June was another spectacular month for South Florida’s home sales, with sales up for the 10th straight month to the strongest annual pace of 18.6% with sales up in both single-family and condominium/townhomes segment in each county. The sales growth was broad-based across price points, but the million-dollar market continued to outperform with sales up nearly 40%, a clear indication of the acceleration in wealth migration to South Florida. This strong sales momentum is likely to be sustained throughout the rest of the year given the resilience of Florida’s affluent buyer base to higher mortgage rates and the resurgence in out-of-state migration in 2026, particularly from New York and California.
June sales rose for the 10th straight month to the strongest annual pace of 18.6%, with year-to-date sales up 7.9%
Closed sales of single-family and condominium/townhome sales in June accelerated to 18.6%, the strongest pace during the 10th straight month of year gains, with year-to-date sales up 7.9%. Nationally, year-to-date sales are up just 2.2%.
Year-to-date single-family sales increased 9.0% from one year ago with sales up in all counties: Miami-Dade County (9.5%), Broward County (7.2%), Palm Beach County (11.4%), Martin County (17.2%), and St. Lucie County (3.2%).
Year-to-date sales are up from one year ago in 73% of South Florida’s 179 submarkets, including some of the largest cities like Miami (+13%), Miami Gardens (+16%), Homestead (+6%), Coral Gables (+12%), Miami Beach (+10%), Fort Lauderdale (+13%), Hollywood (+14%), Coral Springs (+2%), Pembroke Pines (+3%), Miramar (+16%), West Palm Beach (+25%), Palm Beach Gardens (+18%), Boca Raton (+18%), Jupiter (+8%), and Port St. Lucie (+7%).
Year-to-date condominium/townhome sales rose 6.5%, with sales up in all counties: Miami-Dade County (6.1%), Broward County (1.7%), Palm Beach County (10.2%), Martin County (28.5%), and St. Lucie County (8.0%).
Year-to-date sales are up from one year ago in 64% of South Florida’s 136 condominium/townhome submarkets, including the largest cities of Miami (+13%), Miami Beach (+12%), Aventura (+16%), Sunny Isles Beach (+2%), Fort Lauderdale (+7%), Deerfield Beach (+9%), Hollywood (+1%), West Palm Beach (+22%), Delray Beach (+9%), Boynton Beach +7%), Jupiter (+19%), and Palm Beach Gardens (+9%).
Million-dollar sales surged to highest 11-month annual pace at 39.7%, with year-to-date sales up 21.9%
Million-dollar sales continue to increase at a phenomenal pace, surging 39.7% year-over-year in June and 21.9% year-to-date. Cash sales accounted for 61% of year-to-date million-dollar sales.
In the single-family market, year-to-date million-dollar sales are 22.4% from the level in the same period one year ago, with sales up in all counties: Miami-Dade County (+22.8%). Broward County (+16.7%), Palm Beach County (+27.5%), Martin County (+12.2%), and St. Lucie County (+1.9%).
In the condominium/townhomes market, year-to-date million-dollar sales rose 20.5% from the level in the same period one year ago, with sales at the same level or higher in all counties: Miami-Dade County ( (+13.0%), Broward County (+23%), Palm Beach County (+32), Martin County (+10%) and St. Lucie County (+0%).
Year-to-date closed sales of $10 million and over homes rose to an all-time over this period to 306 sales with 83 more sales from one year ago and 7x the level in the same period in 2019 (46 sales). Miami-Dade County and Palm Beach County accounted for roughly 90% of $10 million or over transactions. Cash sales accounted for 88% of $10 million or more sales (268 sales).
Million-dollar sales continue to gain market share. In the single-family market, Palm Beach County had the highest share at 30%, followed by Miami-Dade County at 28%, Broward County and Martin County each at 20%, and a still a modest share in St. Lucie County at 2%. Nationally, million-dollar sales account for less than 10% of sales.
Median single-family sales prices rose in all counties in June 2026
The median single-family sales prices rose in June from one year ago in all counties. Palm Beach County saw the strongest price growth (+11.8%), followed Miami-Dade County (+3.7%), Broward County (+2.4%), St. Lucie County (+2.3%), and Martin County (+1.1%).
In the single-family market, prices were stable or rose in 56% of submarkets, with phenomenal price gains in high-tier markets like Coral Gables (+38%), Miami Beach (+60%), Fort Lauderdale (+40%), Hollywood (+48%), West Palm Beach (+38%), Palm Beach Gardens (+13%), Boca Raton (+42%), and Jupiter (+27%).
In the condominium/townhomes market, only Palm Beach County saw an increase in the median sales price (+3.2%), while prices declined in Miami-Dade County (-3.1%), Broward County (-1.8%), Martin County (-2.4%), and St. Lucie County (-6.6%). However, sales prices are still trending above the pre-pandemic level.
In the condominium/townhomes market, prices were stable or rose in 42% of submarkets, most of which are in Palm Beach County: Sunny Isles Beach (+30%), Hollywood (+23%), West Palm Beach (+47%), Boca Raton (+18%), Delray Beach (+42%), Boynton Beach (+12%), Palm Beach Gardens (+14%), and Palm Beach (+42%). Median sales prices were stable in Miami (0%) and Fort Lauderdale (0%) but declined in Miami Beach (-20%).
18% fewer homes on the market (active inventory) to support a sustained uptick in sales prices
With new pending sales outpacing new listings, there were 18.0% fewer homes on the market as of the end of June compared to one year ago, with single-family inventory down 22.0% and condominiums/townhomes inventory down 15.5%.
Tighter inventory conditions will tend to lift up sales prices, particularly in relatively affordable and tight markets with single-family inventory at 3 months’ supply or loess such as Miami Gardens in Miami-Dade County: Coral Springs, Pembroke Pines, Miramar, Sunrise, and Margate in Broward County; Lake Worth in Palm Beach County; and Hobe Sound and Jensen Beach in Martin County.
Outlook: Expect sales to trend higher in July
Closed sales are poised to increase in July with June pending sales up 7.7%, with single-family pending sales up 7.9% and condominium/townhome pending sales up 7.5%.
The million-dollar market will likely continue to outperform with the resurgence of out-of-state migration in 2026, particularly from New York and California. Driver license exchanges rose 16% year-over-year in the first half of 2026. See More New Yorkers and Californians Moving to South Florida in 2026 Based on Driver License Exchanges – MIAMI REALTORS® + RWorld
Upper-income buyers will continue to be the primary sales driver as mortgage rates remain elevated, with the chance of a Fed rate hike later in the year if inflation accelerates from rising oil prices due to renewed tensions in the Strait of Hormuz after the signing of a Memorandum of Understanding for peace talks between the US and Iran. The MIAMI REALTORS® + RWorld June 2026 Outlook Update projects the 30-year mortgage rate to hit 6.7% by year-end. As of the week of July 9, the 30-year fixed rate mortgage averaged 6.49%. See South Florida 2026-2027 Housing Outlook: Resilience Amid Elevated Mortgage Rates – MIAMI REALTORS® + RWorld
