Beach Houses Hit a $3.3 Million Median in Q3 While Coastal Mainland Condos Got Cheaper

Corcoran's Miami Beaches and Coastal Mainland report for the third quarter of 2026, published October 15, shows a coastal market splitting by property type. On the beaches, the median single-family sale price rose 17% to $3.3 million and the average climbed 28% to $7.7 million. There were 95 closings, up 20% from a year earlier and the best third quarter in five years.

Houses: less supply, higher prices

• Beaches: single-family sales above $5 million rose 72%, and inventory fell 27%.
• Coastal Mainland: 232 single-family sales, up 8%, with the median up 19% to $2.1 million and the average up 2% to $3.0 million.
• Mainland inventory fell 30%, an even sharper drop than on the islands.

Condos: a quieter story

Condo sales rose on both sides of the bay, 13% on the beaches and 8% on the mainland. Prices diverged. The beaches condo median rose 6% to $630,000 while the average fell 10%, which points to fewer big-ticket closings. On the coastal mainland the condo median fell 5% to $564,000 while the average rose 4%.

Corcoran's report covers its coastal submarkets only, not the whole county. For context, MIAMI REALTORS put the countywide single-family median at $692,000 in September.

My read

Waterfront houses are the scarcest product in Miami right now, and buyers are paying for it: a 17% jump in the median with inventory down more than a quarter. If you own one and have been waiting, the data is on your side, but the sales still go to homes that are priced off real comps, not hope. On the condo side, a falling mainland median while sales rise tells me buyers are active but disciplined. That is a good window to buy a well-run building on the mainland before rates ease and competition comes back.