Miami-Dade closed 11,341 home sales in the first half of 2026, up 6.4% from 10,656 a year earlier. Combined dollar volume reached about $12.59 billion, up 16.1% (MIAMI REALTORS + RWorld). Dollar volume growing faster than the number of sales is the big story here: Miami sold about the same number of homes as last year, but at meaningfully higher prices, led by strength at the top of the market. This builds on the single-family versus condo split we first flagged in our Q1 2026 report.
Key Takeaway
Both single-family homes and condos sold more in the first half of 2026 than a year earlier, but for different reasons. Single-family demand is genuine, fueled by people moving to Miami from other states. Condos are recovering more slowly, still working through higher insurance costs and tighter financing rules.
First Half of 2026 by the Numbers
| Metric | Single-Family H1 2026 | Condo H1 2026 |
|---|---|---|
| Closed sales | 5,580 (up 7.5%) | 5,761 (up 5.4%) |
| Dollar volume | About $7.63B (up 19.8%) | About $4.96B (up 11.0%) |
| Price range, Jan-Jun | $670,000 to $699,990 | $410,000 to $450,000 |
| Months with a price drop from a year earlier | 1 of 6 (April) | 3 of 6 (Feb, May, Jun) |
| Inventory at end of June | 4,380 homes (down 22.74%) | 11,550 units (down 11.47%) |
| Months of supply at end of June | 4.9, a seller's market | 12.3, a buyer's market |
Sources: MIAMI REALTORS, May 2026 release and MIAMI REALTORS, June 2026 release. Full reports at miamirealtors.com/news/south-florida-market-stats. See the full dataset, updated monthly, on our Miami-Dade Market Stats page.
Six-Month Sales Trend
Sales started slow in January and February, then jumped in March and stayed above 1,000 closings a month for both property types through June.
Miami-Dade Closed Sales by Month, Jan–Jun 2026
| Month | Single-Family Closed Sales | Condo Closed Sales |
|---|---|---|
| Jan 2026 | 661 | 732 |
| Feb 2026 | 733 | 845 |
| Mar 2026 | 1,063 | 1,071 |
| Apr 2026 | 1,032 | 1,033 |
| May 2026 | 1,042 | 1,022 |
| Jun 2026 | 1,049 | 1,058 |
Single-Family Homes: A Strong First Half
5,580 homes closed from January through June, up 7.5% from a year earlier, worth about $7.63 billion, up 19.8%. Sales started soft (under 750 closings in each of January and February) before jumping to over 1,000 a month from March on. Prices stayed close to flat to slightly up most months, ranging from $674,000 to $699,990. By June, inventory had fallen to 4,380 homes, the tightest reading of the year.
Condos: Selling More, But Prices Are Uneven
5,761 condos closed, up 5.4%, worth about $4.96 billion, up 11.0%. Sales followed a similar pattern to single-family homes, rising through the year, but pricing told a different story. The median condo price actually fell in three of the six months (February, May, and June) compared to the same month a year earlier. Our April 2026 condo report and insurance cost breakdown explain why: rising HOA special assessments tied to Florida's post-Surfside safety law, and a shrinking pool of FHA-approved buildings. Condo supply stayed above 12 months all quarter, keeping the segment a buyer's market.
The Bigger Economic Picture
The Federal Reserve held its benchmark rate steady all first half, including a leadership change to new Chair Kevin Warsh in June. By mid-year, the Fed had turned more open to raising rates rather than cutting them (Federal Reserve, June 17 2026 statement). Mortgage rates followed, rising to 6.49% by June, with some forecasts pointing toward 6.7% or higher by year-end. Cash buyers, consistently 35% to 40% of all Miami-Dade sales, well above the roughly 25% national average, have absorbed most of this shift without slowing down.
What's Fueling Demand
Wealth migration kept accelerating rather than slowing down. Out-of-state driver's license exchanges rose 24% year over year in Q1 2026, led by New York, New Jersey, and California, and sales contracts on homes over $1 million jumped 33.1% in April alone, with Miami-Dade leading every Florida county (MIAMI REALTORS, May 2026). This inbound demand explains most of single-family's price strength, even as affordability tightens for local buyers who need a mortgage.
Three Things to Watch in the Second Half of 2026
First, financing: Fannie Mae and Freddie Mac are eliminating a common condo loan shortcut starting August 3, 2026, which could make condo financing even harder to find. Second, rates: if the Fed's more cautious tone turns into an actual rate hike, expect single-family homes to keep taking longer to sell (already up from 85 to 94 days this year) even if prices hold. Third, insurance and HOA costs remain the biggest wildcard for condo owners, covered in our storm and insurance planning guide, and could either push more owners to sell at a discount or, if costs stabilize, help condo prices finally settle.
Bottom Line
This reflects data available as of the June 2026 report and current published forecasts. It is not a guarantee of future performance and not financial or investment advice.
Frequently Asked Questions
What happened in the Miami real estate market in the first half of 2026?
Total sales rose 6.4% and total dollar volume rose 16.1% compared to the first half of 2025. Single-family homes led on both growth and price resilience. Condos sold more too, but at softer, less consistent prices.
What is the outlook for Miami real estate in the second half of 2026?
Three things to watch: a financing rule change on August 3, 2026 that could further limit condo mortgages, a Federal Reserve that has turned more open to raising rates, and ongoing HOA and insurance cost pressure on condo owners. None of these guarantee a specific outcome, they are the main factors that could shift the market.
Why do Florida condo owners face rising costs?
Florida's post-Surfside safety law requires older condo buildings to complete structural inspections and fund reserves for major repairs, which has led to large HOA special assessments in many buildings. See our storm and insurance planning guide for more detail.
Is Miami still seeing strong population and demand growth?
Yes. Out-of-state driver license exchanges rose 24% year over year in Q1 2026, led by New York, New Jersey, and California. Read the full migration report from MIAMI REALTORS.
Where can I find updated Miami-Dade sales data?
We update our Miami-Dade Market Stats page every month using the same MIAMI REALTORS data cited in this report.
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