{"id":133657,"date":"2026-01-27T16:22:10","date_gmt":"2026-01-27T16:22:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/133657\/"},"modified":"2026-01-27T16:22:10","modified_gmt":"2026-01-27T16:22:10","slug":"miami-surpasses-nyc-as-major-us-city-with-most-homes-costing-1m-or-more","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/133657\/","title":{"rendered":"Miami surpasses NYC as major US city with most homes costing $1M or more"},"content":{"rendered":"

The end of 2025 saw\u00a0New York City<\/a>\u00a0dethroned as the capital of million-dollar listings, with\u00a0Miami<\/a>\u00a0emerging as the major US metro<\/a> boasting the most\u00a0seven-figure properties<\/a>\u00a0for sale.<\/p>\n

By December 2025, Miami had 10,591 listings priced at $1 million and above, compared with NYC\u2019s 10,176, according to the latest\u00a0Realtor.com\u00ae luxury housing report.<\/a>\u00a0<\/p>\n

This crossover between the two major metros marks a sharp break from the last decade, when the Big Apple held a substantially larger inventory of residential properties priced at $1 million and above<\/a>.<\/p>\n

That gap had been steadily narrowing, however, and by early last year, Miami briefly surpassed\u00a0New York<\/a>\u00a0in active million-dollar listings before pulling decisively ahead by year-end.<\/p>\n

Realtor.com senior economist\u00a0Anthony Smith<\/a>\u00a0explains that both markets saw their luxury housing inventory<\/a> shrink in the wake of the pandemic, but Miami has benefited from a stronger recovery with fewer seasonal dips.<\/p>\n

\u201cNew York\u2019s luxury inventory follows a more traditional cycle, with spring and early summer buildups followed by sharper late-year drawdowns,\u201d says Smith.<\/p>\n

\"Miami,At the end of 2025, Miami, Florida, emerged as the major US metro boasting the most\u00a0seven-figure properties\u00a0for sale. littleny \u2013 stock.adobe.com<\/p>\n

A luxury market for all seasons<\/p>\n

In tropical Miami, on the other hand, luxury listing activity<\/a> remains steady year-round thanks to an influx of wealthy\u00a0cash buyers<\/a>\u2014including foreign investors, retirees, and second-home purchasers\u2014flocking to the \u201cMagic City\u201d in all seasons.<\/p>\n

\u201cOut-of-town luxury buyers are also more likely to be present in Miami during the winter months rather than the summer, reinforcing listing activity at a time when many other markets, including New York, typically see inventory drawdowns,\u201d according to Smith.<\/p>\n

Ana Bozovic<\/a>, a Miami-based real estate agent and founder of real estate research firm\u00a0Analytics Miami<\/a>, says her hometown\u2019s ascendance as the premier million-dollar listing destination does not come as a surprise.<\/p>\n

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\u201cThis is all part of the ongoing shift in economic focus,\u201d Bozovic tells Realtor.com. \u201cMiami edging out NYC in the $1 million-plus segment is a confirmation moment. It is a quantification of the ongoing structural shift.\u201d<\/p>\n

According to Bozovic, this latest data illustrates how Miami has transitioned from a fledgling luxury market into a dominant one\u2014and she says it\u2019s only getting started.<\/p>\n

\u201cTaxpayers are on the move, and wealth, both domestic and international, is increasingly mobile,\u201d she says.<\/p>\n

New Yorkers migrating to Miami<\/p>\n

Smith agrees that buyer migration plays a major role in the shift recorded in December, with a growing number of New Yorkers headed south.<\/a><\/p>\n

In fact, more than one-quarter of demand in the Miami metro originates from the Big Apple metro\u2014a share larger than the next eight metros combined.\u00a0<\/p>\n

\u201cThis shift is not simply about people leaving New York,\u201d points out Bozovic. \u201cIt reflects what Miami has become. Miami is now casting a global net, attracting high-income earners and families who are buying at $1 milion, $3 million, $5 million-plus as a baseline.\u201d<\/p>\n

Smith, however, argues that New York losing its edge to Miami in the million-dollar listing count does not signal weakness in the city\u2019s luxury market, but rather a structural shift in where luxury inventory is accumulating.<\/p>\n

\"EpicMore than one-quarter of demand in the Miami metro originates from the New York City metro. pop_gino \u2013 stock.adobe.com<\/p>\n

Or as\u00a0Donna Olshan, president and real estate agent at\u00a0Olshan Realty<\/a>, puts it, this is mostly a story of supply and demand.\u00a0<\/p>\n

\u201cManhattan is currently experiencing a drought with inventory about 7% to 10% below last year at this time,\u201d Olshan tells Realtor.com. \u201cIn terms of inventory, it\u2019s no surprise that Miami has more $1 million-plus properties for sale than Manhattan.\u201d\u00a0<\/p>\n

Miami appears to have a larger, more lasting stock of luxury properties, while New York\u2019s inventory of top-dollar listings remains sizable but slower to expand due to high construction costs, zoning restrictions, and slow permitting processes.<\/p>\n

Looking ahead, Bozovic predicts that Miami will continue attracting domestic and foreign buyers with budgets at or above $1 million.<\/p>\n

\u201cWealth is increasingly mobile, and Miami\u00a0has the attention of the world,\u201d she says.<\/p>\n

Meanwhile, Olshan emphasizes that buyer demand in the New York City metro remains strong and that the area offers advantages other markets\u2014including Miami\u2014cannot easily replicate, making direct comparisons irrelevant.<\/p>\n

\u201cNew York is the financial, creative, and cultural capital of the world. It is also has a huge tech sector,\u201d she says.<\/p>\n","protected":false},"excerpt":{"rendered":"The end of 2025 saw\u00a0New York City\u00a0dethroned as the capital of million-dollar listings, with\u00a0Miami\u00a0emerging as the major US…\n","protected":false},"author":2,"featured_media":133658,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[28,1508,803,123,125,124,39416,65531,14594,14592,480,804,25120,25121],"class_list":["post-133657","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-florida","tag-luxury","tag-luxury-real-estate","tag-miami","tag-miami-headlines","tag-miami-news","tag-million-dollar-listing","tag-millionaires","tag-new-york","tag-new-york-city","tag-real-estate","tag-residential-real-estate","tag-wealth","tag-wealthy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/133657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=133657"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/133657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/133658"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=133657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=133657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=133657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}