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As someone who has spent over three decades navigating the ebbs and flows of South Florida’s real estate market, I’m seeing real momentum build as we move through 2026. The main story isn’t weak demand—it’s a tighter supply, and that’s keeping values supported across key neighborhoods. Mortgage rates in the low-6% range have helped stabilize the market, offering a steady backdrop for well-prepared buyers who are ready to make a move.

The luxury segment above $5 million is particularly notable right now, with approximately 488 single-family homes available, about 43 selling each month, and condo sales averaging 20 monthly. Altogether, South Florida currently offers around 4,500 homes for sale; roughly 10% are in the top tier above $5 million, while another 10% are priced below $500,000—a spread that truly highlights why limited inventory matters for both buyers and sellers. If this low supply continues, upward price pressure is likely to persist. For those considering their next step, it’s also worth keeping an eye on the upcoming property tax referendum, which could play a role in owners’ decisions about moving.

As always, having a deep understanding of the local landscape is key to navigating opportunities and challenges in our unique market.

One of the most interesting shifts in our Miami market right now is the narrowing gap between renting and buying. Recent data shows that, among major cities, Miami stands out as a place where starter-home prices have dropped faster than rents—even as local wage growth keeps pace with, or outpaces, the national average. While renting still remains less expensive for many, the combination of falling entry-level home prices, steady rents, and healthy earnings is gradually tilting the balance. For those considering a purchase, this means more flexibility and more confidence in exploring your options. Of course, it’s not a one-size-fits-all decision—timing and personal circumstances matter. But with over three decades helping Miamians navigate the real estate landscape, I’m seeing more households weighing whether to keep saving as renters or to step into homeownership as conditions align. It’s a practical moment to stay informed, consider your goals, and keep an eye on these evolving trends across our vibrant city.

Corner Lot off Michael Avenue. Don't miss the opportunity to build your dream home here. Buyer responsible to do its own diligence.

We continue to see South Florida’s real estate momentum carry into 2026, with strength across our key markets. The story here isn’t a lack of demand—it’s tight supply that’s keeping inventory constrained. Mortgage rates hovering in the low-6% range have helped stabilize the market, offering a steady backdrop that’s especially beneficial for buyers who come prepared.

One area where this is particularly apparent is the luxury segment above $5 million. With about 488 single-family homes currently listed in this tier and approximately 43 sales each month, plus an average of 20 condo sales monthly, it’s clear that activity remains robust at the top end. Across all price points, South Florida currently has around 4,500 homes on the market. Roughly 10% are priced above $5 million, and another 10% below $500,000—underscoring how limited supply can help support property values throughout the region.

If these inventory levels persist, we can expect continued upward pressure on prices. Of course, the upcoming property tax referendum is also on the horizon and could shift how some owners think about their next move. In my experience guiding clients through every stage of this dynamic market, being informed and ready remains your best advantage.

Labor Day in the United States celebrates the contributions of workers everywhere, while also unofficially marking the final big summer weekend before fall takes over.
It’s known for backyard barbecues, road trips, and that classic tradition of buying things you didn’t know you needed because “it’s on sale.”
Beaches, parks, and grills reach peak activity as everyone tries to squeeze every last drop of summer fun out of the long weekend.
Happy Labor Day! Wishing you a fun, easygoing weekend filled with good vibes, great food, and absolutely no thoughts about Monday.