Miami-Dade Housing Market Update – August 2025

 


Miami-Dade County saw a notable rise in housing inventory in August, even as sales activity slowed, according to the MIAMI Association of REALTORS® and the MIAMI Southeast Florida Multiple Listing Service (Kanzeg Rowland, 2025).

Inventory Growth: Single-family home inventory rose 28.2% year-over-year to 5,361 listings, while condo inventory jumped 25.2% to 12,637. Despite gains, total inventory remains 16.6% below pre-pandemic levels.

  • Sales Decline: Single-family sales fell 8.2% (885 transactions), and condo sales dropped 13% (903 transactions). Elevated mortgage rates, limited inventory at key price points, and restricted FHA loan access were cited as contributing factors.

  • Pricing Trends: The median single-family home price climbed 2.3% to $655,000, marking increases in 164 of the last 165 months. Condo prices slipped 1.2% year-over-year to $410,000.

  • Luxury Market Strength: Luxury sales defied the slowdown. Condo transactions over $1 million rose 10.8%, while $5 million-plus deals increased 11.8%. South Florida is also projected to post its second-strongest year ever for $10M+ sales, nearing 2021’s record.

My Take:
While the data shows sales cooling, it’s clear that Miami’s housing market remains highly segmented. Affordability continues to be a major challenge for everyday buyers, especially with so few FHA-approved condos available. At the same time, the luxury sector is thriving, driven by strong demand from high-net-worth buyers. This split highlights Miami as both an opportunity and a challenge: investors and luxury buyers still see upside, but first-time homebuyers and working families face steep barriers to entry.

Citation: Kanzeg Rowland, Elizabeth. “Miami-Dade housing inventory rises in August as sales slide.” MIAMI Association of REALTORS®, September 26, 2025.

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