Miami-Dade's Single-Family Median Hit $692,000 in September, and $30 Million Sales Already Passed 2025's Record

MIAMI REALTORS released its September 2026 numbers on October 16, and the two halves of the market kept moving in opposite directions. The Miami-Dade single-family median rose 4.06% to $692,000 from $665,000 a year earlier, up from $680,000 in August. The condo median slipped 0.69% to $417,090 from $420,000.

Fewer homes, fewer sales

Total sales fell 2% to 1,733. Single-family closings dropped 4.7% to 824, while condo closings edged up 1% to 909. The association tied part of the slowdown to mortgage rates, which it put at 7.46% on October 13, and to the October 6 state of emergency ahead of Isaias. Freddie Mac's weekly average held at 7.40% on October 15.

• Single-family inventory fell 16.6% to 4,536 listings, which keeps sellers of houses in control at 5.1 months of supply.
• Condo inventory fell 7.24% to 11,706, but 12.3 months of supply is still deep buyer's-market territory, up from 12.1 in August.
• Cash stayed king in condos: 49.4% of condo sales closed in cash, against 26.2% of single-family sales and 38.3% overall.

The top of the market is setting records

MIAMI REALTORS counted 24 single-family and condo sales of $30 million or more through September, already past the full-year 2025 record of 21. That count leaves out most new-construction and pre-construction deals, as Haute Residence pointed out, so the real figure at the very top is higher.

My read

If you own a house, this is still a seller's market: inventory is shrinking and the median keeps climbing even with rates above 7%. Price it right and it moves. If you are buying a condo, you have leverage. With a year of supply sitting on the market, I am negotiating on price, closing costs and timing, and I am reading every association's reserve and inspection file before an offer goes in. If you own a condo and need to sell, the buildings that win are the ones with clean paperwork and a realistic number.