Miami-Dade County Real Estate Market Update – July 2026

Miami-Dade County Real Estate Market Update – July 2026

Miami-Dade County’s overall residential real estate market remained active in July, with closed sales increasing significantly and available inventory continuing to decline. However, the median sale price edged slightly lower, pending sales were essentially flat, and properties took longer to sell than they did a year ago.

The result is a market that can’t be described simply as favoring buyers or sellers. Inventory is tightening and more homes are selling, but buyers remain selective and overall supply remains relatively high. The difference between single-family homes and condos and townhomes is particularly important.

Let’s take a closer look.

Market Breakdown – July 2026 vs. July 2025

Median Sale Price: $545,000

🔻 Down 1% year-over-year

The overall median sale price slipped slightly compared with July 2025.

A 1% change represents relatively stable pricing, particularly when looking across Miami-Dade’s diverse residential market. The combined median is also influenced by the mix of single-family homes, condos, and townhomes sold during the month, so it shouldn’t be interpreted as meaning every property has declined in value.

Closed Sales: 1,939 properties

📈 Up 9% year-over-year

Closed sales increased by a healthy 9%, showing that buyers remain active throughout Miami-Dade County.

Both major property sectors contributed to the increase, with single-family home sales rising 6% and condo and townhome sales climbing 11%.

Active Inventory: 15,647 properties

🔻 Down 15% year-over-year

There were significantly fewer residential properties available for sale than there were a year ago.

This 15% decline demonstrates that Miami-Dade’s overall housing supply is gradually tightening, although inventory levels vary dramatically depending on property type.

Pending Sales: 1,963 contracts

🔻 Down 1% year-over-year

Pending sales were essentially flat, slipping just 1% compared with last July.

While completed sales were substantially higher, the pending figure suggests buyer activity going forward may be steadier if the current trend continues.

Months of Inventory: 8.5 months

🔻 Down 19% year-over-year

Overall supply has tightened considerably, falling 19% compared with July 2025.

However, at 8.5 months, Miami-Dade still has a relatively generous supply of residential properties when all property types are considered together.

The distinction beneath that number is significant: single-family homes had 4.8 months of inventory in July, while condos and townhomes had 12 months.

Days on Market: 64 days

📈 Up 16% year-over-year

Homes are taking longer to sell than they did last July.

The overall figure is heavily influenced by the condo and townhome sector, where properties are spending considerably more time on the market. This reinforces the importance of looking at the specific property type rather than relying solely on countywide averages.

New Listings: 2,900 properties

🔻 Down 14% year-over-year

Significantly fewer new properties entered the market compared with July 2025.

With new listings falling by double digits while overall inventory is already declining, Miami-Dade could see its supply continue to tighten if the trend persists.

What This Means for You

Buyers

Miami-Dade currently provides very different buying environments depending on the type of property you’re considering.

Single-family home buyers face substantially tighter inventory, while condo and townhome buyers generally have far more selection and potentially greater negotiating leverage.

That makes property-specific and neighborhood-specific data especially important. Countywide averages can only tell part of the story.

Sellers

Overall sales activity is encouraging, with 9% more residential properties closing than a year ago and 15% less active competition.

However, sellers shouldn’t assume that declining inventory guarantees a fast sale. Overall days on market increased 16%, and conditions vary dramatically by property type.

Accurate pricing and understanding the competition within your specific neighborhood, building, or community remain essential.

Investors

Miami-Dade’s segmented market can create different opportunities for investors.

The condo and townhome sector may provide more negotiating leverage, while constrained single-family supply continues to support that market’s long-term fundamentals.

In either case, purchase price should be considered alongside insurance, taxes, maintenance, HOA costs and assessments where applicable, rental restrictions, financing, and realistic rental income.

Final Thoughts

July’s statistics show a Miami-Dade residential market that is active, tightening, but highly divided by property type.

Closed sales increased 9% and active inventory declined 15%, demonstrating that buyers continue to purchase homes while overall supply contracts. At the same time, the median sale price slipped 1%, pending sales declined 1%, and homes took 16% longer to sell.

The biggest difference lies beneath the overall figures.

Single-family homes had just 4.8 months of inventory, compared with 12 months for condos and townhomes. That means a buyer searching for a detached home may encounter a considerably more competitive market than someone shopping for a condo.

For buyers and sellers alike, the countywide numbers provide useful context — but understanding the specific property type, neighborhood, community, and price range has become increasingly important.

As we move through the second half of 2026, declining inventory, fewer new listings, and the divide between single-family and condo market conditions will be the key Miami-Dade trends to watch.

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