Miami’s residential market performance continues to diverge
The Miami real estate market is in a transitional phase—more inventory, slower sales, and a clear divide between luxury and affordable segments.
MIAMI MARKET SNAPSHOT: June 2025
What’s really going on in the 305 real estate scene
Sales Are Slowing Down
Single-family & condo sales are still 20–30% below pre-pandemic levels. More listings. More time on market. Buyers are taking their sweet time.
Inventory Is Climbing
Homes aren’t flying off the shelves like they used to. Listings are up:
🔹 Single-family: +6%
🔹 Condos: +3%
Compared to pre-2020.
Luxury Still Winning
Homes & condos over $1M? Still hot 🔥
Buyers want new construction + prime locations.
Transactions over $1K/sqft have skyrocketed:
🔹 7x for houses
🔹 4x for condos
Cash Is King (Especially for Luxury)
% of cash deals in Miami-Dade:
🔹 $1M+ Condos: 71%
🔹 $1M+ Homes: 46%
< $1M = way more sensitive to interest rates.
Older Condos Taking a Hit
Post-Champlain Tower collapse =
📈 Assessments + HOA costs
📉 Demand
And many don’t qualify for standard financing
What's Next?
Buyers under $1M are waiting on lower rates.
The minute rates drop—you’ll hear the Miami real estate machine rev up again. Until then… patience.
Thinking of buying or selling? Let’s talk strategy.
#MiamiRealEstate #MarketUpdate #LuxuryHomes #InterestRates #MiamiHousing #BiscayneRealEstateGroup #JacquelineMurdocco #HomeBuyingTips
Source Article: CoStar Insight