Miami Real Estate Market April 2026: Sales Rise for 8th Straight Month

Miami-Dade's housing market extended its winning streak in April 2026, with total home sales climbing for the eighth consecutive month year-over-year. According to data released by MIAMI REALTORS + RWorld on May 15, 2026, the market posted gains across both single-family homes and condominiums, even as mortgage rates held above 6% and available inventory continued to shrink.

Here is a full breakdown of the April 2026 Miami real estate market numbers and what they mean for buyers, sellers, condo investors, and anyone tracking South Florida's housing landscape.

Miami-Dade Home Sales Rise for the 8th Consecutive Month

Total Miami-Dade home sales increased 5.6% year-over-year in April 2026, rising from 1,955 to 2,065 closed transactions. Single-family home sales led the charge, climbing 8.6% from 950 to 1,032, while condo and townhome sales rose 2.8% from 1,005 to 1,033.

The eight-month streak of consecutive year-over-year growth reflects sustained demand that has held steady despite elevated financing costs. The 30-year fixed-rate mortgage averaged 6.33% in April 2026, per Freddie Mac, and economists project it could approach 7% by mid-year if geopolitical pressures persist.

Miami's high concentration of all-cash buyers continues to insulate the market from rate headwinds. Cash transactions accounted for 38.5% of all closed sales in April, more than 1.5 times the national average of roughly 25%. On the condo side, that figure climbs to 50.9%.

The 2,065 homes sold in April generated an estimated $266 million in local economic impact, based on NAR's calculation of $129,000 in economic activity per home sale.

Luxury and Affordable Condo Segments Both Surge

April 2026 showed strength across multiple price tiers, which is a sign of broad-based demand rather than activity concentrated at one end of the market.

At the accessible end, condo sales in the $300,000 to $500,000 price range surged 17.9% year-over-year, from 301 to 355 transactions. This segment is where first-time condo buyers and domestic relocators are most active.

At the top, single-family home sales priced at $1 million and above rose 19.8% year-over-year, from 233 to 264. Condo sales at $1 million and above climbed 15.6%, from 179 to 207. Properties priced at $5 million and above recorded a 25% gain.

"Condos are surging because buyers see Miami's ascension as a top global city and know the market's proven history for long-term price appreciation," said MIAMI REALTORS Chairman of the Board Alfredo Pujol.

Miami Home Prices: Single-Family Eases Slightly, Condos Hold Firm

Single-family home median sale prices in Miami-Dade dipped 1.5% year-over-year in April 2026, from $680,000 to $670,000. That modest pullback does not signal a trend reversal. Miami single-family prices have risen in 170 of the last 173 months and have appreciated 287.9% since 2011, when the median stood at $172,700.

Condo median prices held steady, rising 1.1% year-over-year from $445,000 to $450,000. Miami condo values have appreciated 295.4% since 2011, from a median of $113,800. Prices have remained flat or increased in 165 of the last 179 months.

Total dollar volume across both property types reached $2.3 billion in April 2026, up 11.97% year-over-year. Single-family dollar volume rose 14.1% to $1.37 billion, while condo dollar volume increased 9.1% to $928.9 million.

Inventory Is Shrinking: What It Means for Buyers and Sellers

Total active listings in Miami-Dade fell 11.4% year-over-year in April 2026, dropping from 18,765 to 16,622 properties. This marks the third consecutive month of declining overall inventory, a meaningful shift for a market that carried elevated supply through much of 2025.

Single-family homes are firmly in seller's market territory. Inventory declined 14.5%, from 5,527 to 4,723 active listings, bringing months supply to 5.4. Anything below six months is classified as a seller's market, meaning well-priced single-family homes are drawing buyer competition.

Condominiums remain in buyer's market territory at 12.9 months supply, but the trend is tightening. Condo inventory dropped 10.1%, from 13,238 to 11,899 listings, and months supply has declined 5.8% from a year ago. Critically, this is the first three-month streak of consecutive condo inventory declines since July 2023.

For condo buyers, the current environment still offers negotiating leverage. For sellers, the directional shift in inventory is the clearest sign yet that market conditions are improving.

Homes Are Taking Slightly Longer to Sell, Still Closing Near List Price

Single-family homes took a median of 45 days to go under contract in April 2026, up from 37 days a year ago. The median time from listing to closing extended to 82 days, compared to 76 days in April 2025.

For condos, the median time to contract was 62 days (up from 61), and the median time to close came in at 99 days, a slight improvement from 100 days last year.

Despite the longer timelines, Miami properties are still closing near asking price. Sellers received a median of 95% of their original list price on single-family homes and 93% on condos. Distressed sales, including short sales and bank-owned properties, accounted for just 0.2% of all April closings, a historic low that reflects a fundamentally healthy market.

Time-Sensitive: Fannie Mae and Freddie Mac Condo Lending Change — August 3, 2026

Condo buyers, sellers, and agents need to be aware of a major financing rule change taking effect on August 3, 2026. Fannie Mae and Freddie Mac are eliminating the limited review option for many condo loans.

This matters because Miami's condo lending landscape is already constrained. Of the 2,397 condominium buildings across Miami-Dade, Broward, and Palm Beach counties, only 21 are currently approved for FHA loans, representing just 0.9% of buildings. The upcoming Fannie and Freddie change will add another layer of scrutiny to condo financing.

The intent of the new guidelines is to create a more transparent and financially secure lending environment. In practice, it means buyers and their agents will need to verify a building's approval status before going under contract, and sellers should confirm their building's eligibility now to avoid surprises that could delay or derail a sale after August 3.

Miami as a Global Real Estate Value

Despite significant price appreciation over the past decade, Miami remains competitively priced relative to other major global cities. According to the 2026 Knight Frank Wealth Report, $1 million buys 58 square meters of prime residential property in Miami. That compares to 34 square meters in New York, 33 in London, 37 in Paris, and just 16 in Monaco.

"South Florida continues to attract out-of-state movers, second home buyers, or corporations who are seeing worsening tax conditions in their states," said MIAMI REALTORS Chief Economist Gay Cororaton.

That combination of global demand, domestic migration, and relative value has kept Miami's real estate market structurally strong even in a higher-rate environment.

What to Watch for the Rest of 2026

Several factors will shape Miami's housing market through the remainder of the year:

• Mortgage rates are projected to approach 7% by mid-year, which could reduce the pool of financed buyers. Miami's strong cash-buyer base provides a meaningful buffer, but rate movement is worth monitoring.
• Condo inventory is declining for the first time in years. If this trend holds through summer, the condo buyer's market could begin to shift meaningfully by late 2026.
• The August 3 Fannie/Freddie rule change will reshape the condo financing process. Buyers, sellers, and agents should begin verifying building eligibility now.
• Distressed sales remain at 0.2%, confirming there is no broad wave of forced selling or financial stress in the Miami market.

April 2026 Miami-Dade Market Stats at a Glance

Single-Family Homes

Condos and Townhomes

Source: MIAMI REALTORS + RWorld, April 2026 statistics released May 15, 2026.

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