As of late October 2026, the Miami-Dade condo market is flat on price, and it is split in two. The latest available data (September 2026) from MIAMI REALTORS shows a median existing-condo price of $417,090, down 0.69% from a year earlier, with 909 sales and 12.3 months of supply, a level the association calls a buyer's market. At the top end, the same association reports a record pace of $30 million-plus sales. Older buildings and new luxury towers are behaving differently, and no source reviewed for this page describes a crash.
This page reports what published data and named analysts say. It does not forecast prices. All figures are for Miami-Dade County unless stated.
The latest numbers: Miami-Dade existing condos
MIAMI REALTORS + RWorld publishes monthly figures for existing condos, drawn from MIAMI MLS and BeachesMLS data. The three most recent reports:
- September 2026 (released Oct 16, 2026): 909 sales, up 1% year over year. Median price $417,090, down 0.69% from $420,000. Inventory 11,706 listings, down 7.24%, the eighth straight monthly decline. Months of supply 12.3. Median sale price was 94% of original list price. Cash share of sales was 49.4%.
- August 2026 (released Sep 16, 2026): 911 sales, up 1%. Median price $408,000, down 0.49%. Months of supply 12.1. Cash share 50.5%.
- July 2026 (released Aug 17, 2026): 1,026 sales, up 11.4%. Median price $400,000, down 1.48%. Months of supply 12.
For the quarter, MIAMI REALTORS' Local Residential Market Metrics (published July 2026) show Miami-Dade townhouse and condo sales of 3,113 in Q2 2026, up 6.6%, with a median of $425,000, down 3.4%. In the City of Miami, Q2 sales were 714, up 11.2%, with a median of $595,000, down 2.5% and 16.0 months of supply.
Single-family homes moved the other way. The September 2026 single-family median was $692,000, up 4.06%, with 5.1 months of supply, which MIAMI REALTORS calls a seller's market.
Zillow's Home Value Index for the city of Miami, which covers all home types and not condos alone, was $583,705 in September 2026, up 1.4% year over year.
MIAMI REALTORS chairman Alfredo Pujol said in the September release: "In Miami, condo sales near the $400,000 median price point are up 15% year-over-year." Chief economist Gay Cororaton said: "We are continuing to see the negative impact of soaring mortgage rates on homebuyers."
Is there a Miami condo market crash?
The data reviewed does not show one. Median condo prices were within 1.5% of a year earlier in each of the three most recent monthly reports, and unit sales were level to higher.
One outside view, with its date:
- UBS (Global Real Estate Bubble Index, Sep 22, 2026) said Miami, "which ranked highest in the past two editions, has fallen back into the elevated-risk category," and that "a broad market correction appears unlikely." UBS states that the index does not predict the timing of price declines.
That is the publisher's interpretation. The inventory figures above point both ways: 12.3 months of supply is a buyer's-market level, yet inventory has fallen year over year for eight consecutive months.
Older condos and Florida's condo laws
Older buildings are where the post-Surfside safety laws bear most directly. The figures below track how they have priced. ISG World reported that 85% of South Florida condo listings at the end of Q3 2024 were in buildings 30 years or older.
- 2024 baseline. A study by ISG World, reported by Bisnow on Oct 25, 2024, found the average sale price of South Florida condos 30 years or older fell 21% from 2023 levels, while condos under 10 years old rose 9%. ISG World CEO Craig Studnicky attributed the decline to the milestone-inspection laws: "The decline in value has everything to do with these milestone laws."
- August 2025. MIAMI REALTORS reported a median of $280,000 for Miami-Dade condos 30 years and older, against $290,000 in August 2024.
- Inspections. The Real Deal (Jul 14, 2026), citing a state legislative report, said 8,736 buildings had completed phase-one milestone inspections and 1,575 had completed phase two, and that building officials granted nearly 1,600 extensions.
- Financing. MIAMI REALTORS notes that only 21 of 2,397 condo buildings across Miami-Dade, Broward and Palm Beach are FHA-approved, which narrows the buyer pool for many older buildings.
In June 2025, HB 913 extended the deadline for reserve studies (SIRS) to Dec. 31, 2025, and allowed associations to pause reserve funding for two years after a milestone inspection, according to Florida Realtors. For the rules and what they mean for buyers, see Florida's condo law and new construction. Readers should confirm current requirements with a Florida real estate attorney.
New construction and luxury
New towers sell on different terms: buyers pay deposits against a future closing, and pricing is set by the developer.
Luxury resales. The Condo Black Book Q2 2026 report (published Aug 25, 2026), covering condos at $2 million and up in coastal mainland Miami and Miami Beach, counted 210 sales, up 5% from 200. The median was $3.53 million against $3.5 million, and months of inventory fell from 21 to 17. By area, the report shows:
- Brickell: median $2.8 million, down 11.6%, on 10 sales.
- Downtown Miami: median $3.3 million, down 23.3%, on 7 sales.
- Edgewater: median $2.85 million, up 9.6%, on 13 sales.
- Coconut Grove: median $2.825 million, up 6.7%, on 33 sales.
- Coral Gables: median $2.775 million, up 15.6%, on 6 sales.
These counts are small, so single sales move the medians.
The top tier. MIAMI REALTORS reported 24 sales of $30 million and above across single-family and condo through September 2026, passing the 2025 full-year record of 21.
Supply of branded towers. The Real Deal's South Florida Dirt column (Oct 25, 2026) counted 66 branded condo projects planned, under construction or recently completed across South Florida, and reported that developers it spoke with described the market as oversaturated. Results differ by project. The Real Deal reported in April 2026 that The Delmore on the Surfside collapse site had sold no units since its early-2025 launch.
Among towers on this site, The St. Regis Residences, Miami was more than 80% sold as of July 2026, and Cipriani Residences Miami topped off in July 2026. Developers also list prices on their own schedules, and prices change. Gabriella Gonda can share current price lists. Browse all projects on the Miami new construction condos page.
What the data does not show
- No new-construction split. MIAMI REALTORS' monthly reports cover existing condos only, and no source reviewed for this page separates new-construction sales from resales.
- Later months. MIAMI REALTORS' October 2026 figures had not been published as of this page's date.
Frequently asked questions
Is the Miami condo market crashing?
Not according to the latest available data (September 2026). MIAMI REALTORS reports a median condo price of $417,090, down 0.69% year over year, with sales up 1%. Older buildings face the most price pressure, and UBS said in September 2026 that a broad market correction appears unlikely.
Are Miami condo prices going down?
Median existing-condo prices were 0.5% to 1.5% below year-earlier levels in July, August and September 2026. For condos 30 years and older, MIAMI REALTORS reported an August 2025 median of $280,000. Single-family medians rose.
What is the difference between the Miami luxury condo market and the rest of the condo market?
The Condo Black Book Q2 2026 report puts the $2 million-plus coastal median at $3.53 million, while the all-condo Miami-Dade median is about $417,000. The luxury tier is thinner, so a handful of sales can shift its medians.
How does the Florida condo law affect Miami condo sales?
Older buildings are the focus of the milestone-inspection rules, and ISG World reported a 21% fall in the average price of condos 30 years or older in 2024. Only 21 of 2,397 condo buildings across three South Florida counties are FHA-approved. Confirm details with a Florida real estate attorney.
Talk to Gabriella Gonda
Buyers comparing new towers can request current price lists and private sales-gallery tours through Gabriella Gonda. Owners weighing a sale can request a free valuation at sell your home.
Sources
- September 2026: Miami-Dade breaks annual record for $30 million-plus home sales, MIAMI REALTORS + RWorld, Oct 16, 2026
- August 2026: Miami-Dade on pace to shatter $10M+ home sales record, MIAMI REALTORS + RWorld, Sep 16, 2026
- July 2026 Miami-Dade market report, MIAMI REALTORS + RWorld, Aug 17, 2026
- Miami-Dade County Townhouses and Condos, Q2 2026 Local Residential Market Metrics, MIAMI REALTORS, Jul 2026
- Miami-Dade $1M & up condo sales surge; affordable 30-year condo units holding value, MIAMI REALTORS, Sep 23, 2025
- Miami, FL Home Values, Zillow, September 2026 data, accessed Oct 29, 2026
- Q2 2026 overall Miami luxury condo market report, Condo Black Book, Aug 25, 2026
- Q2 2026 mainland Miami luxury condo market report, Condo Black Book, Aug 25, 2026
- UBS Global Real Estate Bubble Index 2026, UBS, Sep 22, 2026
- Prices have collapsed for South Florida condos 30 years or older, Bisnow, Oct 25, 2024
- How Florida's aging condo buildings are faring post-Surfside, The Real Deal, Jul 14, 2026
- Realtor-supported condo bill becomes law, Florida Realtors, Jun 23, 2025
- South Florida Dirt: cracks in the South Florida real estate market, The Real Deal, Oct 25, 2026
- Why buyers are rejecting luxury condos on the Surfside collapse site, The Real Deal, Apr 19, 2026
