Miami Real Estate Market Report: October 2026
- By Miguel E. Hernandez
- Oct 12, 2026
Miami real estate market as of October 2026: a buyer’s market with 11 months of inventory, a $1.1M average price, 6% discounts and half of all sales under $700K.
Summary: Miami real estate market in October 2026
As of October 2026, the City of Miami is a buyer's market, with about 11 months of inventory, an average closed price of $1.1 million and an average discount of 6% off list price. The market is split: condos are piling up inventory while single-family homes remain scarce.
- 12-month sales: 3,587 closed sales and 3,252 active listings.
- Typical price: half of all sales closed below $700,000.
- Price per square foot: $782 for closed sales and $843 for active listings.
- Condos: about 13 months of inventory, a buyer's market.
- Single-family homes: about 5 months of inventory, a seller's market.
- Time to sell: 139 days on average.
- Payment type: 52.9% of purchases were paid in cash.
This report is based on real MLS data processed by Avanti Way Realty's MyAvex platform for the City of Miami. You can download the full report as a PDF here.
Key indicators of the Miami real estate market
| Indicator (City of Miami, last 12 months) | Value |
|---|---|
| Closed sales | 3,587 |
| Active listings for sale | 3,252 |
| Average closed price | $1.1 million |
| Average list price (active) | $1.3 million |
| Price per square foot (closed) | $782 |
| Price per square foot (active) | $843 |
| Average discount off list price | 6% |
| Average days on market (closed) | 139 |
| Average days on market (active) | 184 |
| Months of inventory | 10 to 11 |
| Total sales volume | $4,086.3 million |
| Market type | Buyer's market |
Is Miami a buyer's or seller's market in 2026?
Overall, Miami is a buyer's market. With 3,252 active listings and a pace of about 299 sales per month, current supply would take roughly 11 months to sell. As a general industry benchmark, less than 6 months of inventory favors sellers and more than 6 months favors buyers.
The overall figure hides two very different markets. Broken down by property type:
| Property type | Closed sales | Active | Months of inventory* | Market type |
|---|---|---|---|---|
| Condos | 2,489 (69%) | 2,776 (85%) | ~13 | Buyer's market |
| Single-family homes | 1,098 (31%) | 476 (15%) | ~5 | Seller's market |
*Negocio Miami calculation based on Avanti Way data: active listings ÷ average monthly closed sales.
Condos for sale in Miami make up 85% of active supply and have about 13 months of inventory, which gives buyers real room to negotiate. Single-family houses for sale in Miami, on the other hand, have about 5 months of inventory: supply is tight and sellers keep their negotiating power.
Home and condo prices in Miami by number of bedrooms
The overall average price of $1.1 million is inflated by luxury sales. For example, the report records a single sale of $101.5 million. That's why it helps to look at prices by property size:
| Bedrooms | Average closed price | Price per sq ft (closed) | Average size (sq ft) | Days on market | Months of inventory |
|---|---|---|---|---|---|
| Studio | $362,000 | $706 | 506 | 120 | 31 |
| 1 | $435,000 | $576 | 756 | 141 | 14 |
| 2 | $740,000 | $634 | 1,173 | 145 | 11 |
| 3 | $1.2 million | $715 | 1,682 | 129 | 7 |
| 4 | $2.1 million | $849 | 2,381 | 128 | 8 |
| 5 | $3.8 million | $1,096 | 3,305 | 157 | 9 |
| 6 or more | $9.2 million | $1,825 | 4,937 | 147 | 14 |
What these numbers show:
- Two-bedroom units are the best-selling product. They account for 34.8% of closings, at an average price of $740,000.
- One-bedroom units have the lowest price per square foot ($576) and make up 24.1% of sales.
- Studios are oversupplied: there are 242 active listings versus 95 sold in a year, or about 31 months of inventory.
- Three- and four-bedroom properties are the scarcest (7 and 8 months of inventory) and sell faster, in about 128 to 129 days. Single-family homes dominate this segment.
What price ranges drive the Miami market?
Half of all sales in the City of Miami closed below $700,000. 46% of closings were under $600,000, which puts the typical sale price between $600,000 and $700,000. At the high end, 28.5% of sales were above $1 million.
| Price range | Sold / active | Months of inventory | Average discount |
|---|---|---|---|
| $100K – $199K | 83 / 53 | 8 | 8% |
| $200K – $299K | 244 / 122 | 6 | 8% |
| $300K – $399K | 416 / 304 | 9 | 7% |
| $400K – $499K | 431 / 443 | 12 | 6% |
| $500K – $599K | 427 / 414 | 12 | 6% |
| $600K – $699K | 359 / 347 | 12 | 5% |
| $700K – $799K | 258 / 221 | 10 | 5% |
| $800K – $899K | 178 / 183 | 12 | 6% |
| $900K – $999K | 114 / 119 | 13 | 7% |
| $1M – $1.49M | 384 / 345 | 11 | 7% |
| $1.5M – $1.99M | 208 / 164 | 9 | 6% |
| $2M or more | 410 / 405 | 12 | 8% |
The $200,000 to $299,000 segment is the most competitive, with only 6 months of inventory. If you're looking for affordable homes for sale in Miami, expect to compete with other buyers in this range. Between $400,000 and $699,000, where most of the sales volume is concentrated, there are about 12 months of inventory and more room to negotiate.
Quarterly trend: October 2025 to September 2026
| Quarter | Closed sales | Active listings (quarterly chart) |
|---|---|---|
| Oct – Dec 2025 | 714 | 1,087 |
| Jan – Mar 2026 | 897 | 1,026 |
| Apr – Jun 2026 | 1,007 | 807 |
| Jul – Sep 2026 | 838 | 362 |
Sales peaked in the second quarter of 2026, with 1,007 closings. They fell 17% in the third quarter but remained 17% above the last quarter of 2025. Meanwhile, active listings in the quarterly chart dropped from 1,087 to 362. This signals that new supply is slowing, although accumulated inventory remains high.
Who is buying property in Miami?
- 52.9% of purchases were paid in cash. 44.4% used a conventional loan and only 2.8% an FHA or VA loan.
- 67.1% of buyers purchase to live in the home and 32.9% buy as investors.
- 17.7% of sales included seller contributions (concessions to cover buyer costs).
- Top international buyer origins: Haiti (15.8%), Ecuador (8.6%), Colombia (6.9%), Venezuela (6.0%) and Canada (6.0%).
- Top domestic buyer origins: New York (19.4%), California (14.5%), Texas (7.4%), New Jersey (6.9%) and Illinois (5.3%).
If you're buying from abroad, read our guides on mortgage loans for foreigners and how to buy property in Miami as a foreigner.
Miami's best-selling buildings
The five buildings with the most units sold over the last 12 months are concentrated in Downtown and Brickell:
- Opera Tower: 37 sales ($13.5 million in volume).
- Quantum on the Bay: 28 sales ($14.9 million).
- The Club at Brickell Bay: 26 sales ($13.7 million).
- Rise: 23 sales ($24.1 million).
- 900 Biscayne Bay: 22 sales ($24.7 million).
By dollar volume, the leaders are Bay Point (11 sales, $103.5 million), One Thousand Museum (4 sales, $44.7 million) and Two Park Grove (6 sales, $43.4 million). If this segment interests you, explore luxury apartments in Miami and available pre-construction projects.
What this report means for you
If you're buying
You have negotiating power in condos: there are about 13 months of inventory and an average discount of 6%. Before making an offer, estimate your monthly payment with our mortgage calculator and factor in closing costs. If you want a single-family home, be ready to compete: supply is limited. See how we guide you through buying property in Miami.
If you're selling
Active listings have been on the market for 184 days on average, compared with 139 days for homes that actually sold. That gap is a typical sign of list prices above market value. Pricing correctly from day one is key, especially for condos. Learn how to find out what your property is worth or request a valuation on our sell your property in Miami page.
If you're investing
One in three buyers in Miami is an investor. The larger supply of one- and two-bedroom condos allows you to negotiate better entry prices, while the scarcity of single-family homes supports their value. Explore our Miami real estate investment advisory and projects for investors.
Frequently asked questions about the Miami real estate market
What is the average home price in Miami in 2026?
In the City of Miami, the average closed price over the last 12 months was $1.1 million, according to Avanti Way data as of October 2026. That average is pushed up by luxury sales: half of all sales closed below $700,000.
How much does a condo cost in Miami?
A one-bedroom unit sold for an average of $435,000 and a two-bedroom for $740,000. Studios averaged $362,000.
Will home prices drop in Miami?
No one can predict prices with certainty, but the data show room to negotiate. With about 11 months of inventory and an average discount of 6%, the market favors buyers, especially in condos. Single-family homes, with about 5 months of inventory, face less downward pressure.
Is it a good time to buy in Miami?
For condo buyers, conditions are favorable: there is more supply, more time to decide and room to negotiate. For single-family homes, competition remains high. The decision depends on your budget, your financing and your investment horizon.
How long does it take to sell a property in Miami?
Properties sold over the last 12 months took 139 days on average. Three- and four-bedroom properties sold faster, in about 128 to 129 days.
Source and methodology
Data from Avanti Way Realty's MyAvex platform, based on the MLS, for the City of Miami (it does not cover all of Miami-Dade County). Figures cover the 12 months prior to October 2026. Market type is calculated over 11 months. The inventory calculations by property type and the price range distribution were prepared by Negocio Miami based on that data. This information is for reference only and does not constitute financial advice.
Analysis prepared by Miguel E. Hernandez, a Miami real estate agent since 2012 and affiliated with Avanti Way Realty since 2013.
Download the October 2026 Market Report (PDF) or contact Miguel for a personalized analysis of your area.