Miami Condo Data Note: Closings Down 4.2% Into October, Price Per Foot Up to $554
Condo buildings in 16 Miami neighborhoods closed 1,232 sales from August to October 2026, down 4.2% from a year earlier, at a median $554 a square foot, up 1.7%. Leases fell 6.8%.
This note is computed from the closed MLS records behind my condo building pages: condo buildings in 16 Miami neighborhoods, from Brickell to Sunny Isles Beach, comparing August to October 2026 with the same months of 2025. Records are as of Nov 9, 2026.
Buyers closed 1,232 condo sales in the three months, down 4.2% from 1,286 a year earlier. The median price per square foot was $554 across 1,221 sales with a recorded size, against $545 across 1,275 a year ago, up 1.7%. The median sale price was $590,000, against $565,000. The median time on market was 91 days in both years, and sales closed at a median 94.6% of the last asking price, against 94.4%.
October is still filling in
October alone shows 406 closed sales against 469 in October 2025, down 13.4%. Treat that as a floor. Closings reach the MLS late: on Nov 2 the same October count was 366, so 40 more were recorded in one week. September stood at 405 in my Oct 9 note and now shows 419, up 2.9% on the year instead of flat. Over the last 12 months, closed sales are still up 8.2%, at 5,644 against 5,215.
Leasing slowed too. Recorded leases fell 6.8% to 3,558, from 3,817. The median rent held at $3,500 a month, while the median rent per square foot rose 2.4% to $3.87 a month, from $3.78.
Where neighborhood medians moved
- South Beach: $638 a square foot (n 173) against $549 (n 211), up 16.2%, on fewer sales: 174 against 213.
- Coconut Grove: $1,051 (n 50) against $798 (n 49), up 31.7%. My Oct 9 note showed a similar jump, but the two windows share August and September, and at about 50 sales the mix of buildings that closed moves the median.
- Edgewater: $599 (n 79) against $670 (n 71), down 10.6%, on more sales: 80 against 71.
- Brickell: $620 (n 157) against $617 (n 192), flat, on 18% fewer sales: 159 against 194.
On the market today in the same buildings: 7,489 condos for sale, 614 more under contract, and 4,781 for lease.
My read
Volume is softer than a year ago, led by Brickell and South Beach, but prices have not followed it down. The price per foot is up 1.7%, and the discount off the asking price barely moved. October will rise as late closings post, so I would wait for the next note before calling a slowdown. If you are selling, price from the closed sales in your own building, not from the 7,489 listings competing with you. If you are buying, steady prices with that much supply reward patience and a short list of specific buildings. Every median above carries its sample size, and none rests on fewer than 15 sales.
Every closed sale and lease since 2019, building by building, with the sample behind each median.
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