![\"Aerial](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/03\/MIA_Miramar_MJO_28.JPG\" "\\"Aerial")
<\/p>\n <\/p>\n
Aerial view of the Silver Lakes neighborhood on Thursday, Sept. 25, 2025, in Miramar, Fla.<\/p>\n
Photo by Matias J. Ocner<\/p>\n
mocner@miamiherald.com<\/p>\n
Home sales were up in Miami-Dade in February compared to the previous year, marking a sixth consecutive month of an upward trend in the county.<\/p>\n
Total home sales were up by nearly 10% compared to last February, according to data from the Miami Association of Realtors. Single-family sales were up more than 4%, and existing condo sales were up nearly 15%.<\/p>\n
The data showed sales were up at both the luxury and affordable ends of the market. Sales of properties over $5 million were up 11% year-over-year, and sales of condos priced between $400,000 and $500,000 were up 19%. Median prices for single-family homes in Miami-Dade rose by more than 4% year-over-year.<\/p>\n
The Miami Association of Realtors has named South Florida the No. 1 ultra-luxury market in the U.S., with a home sale over $10 million happening every day in the region on average.<\/p>\n
Miami\u2019s ultra-luxury market has drawn particular attention this year, as a few big-name tech billionaires have purchased waterfront properties in the area.<\/p>\n
Google co-founders Sergey Brin and Larry Page have both reportedly purchased<\/a> megamillion homes in recent months. And Meta founder Mark Zuckerberg broke Miami-Dade\u2019s record<\/a> for most expensive home sale ever with the purchase of a $170 million mansion in Indian Creek.<\/p>\n READ MORE: 4 of the world\u2019s 5 richest people now have waterfront estates in the Miami area<\/a><\/p>\n Is Miami condo market poised for a rebound?<\/p>\n It\u2019s a buyer\u2019s market for Miami-Dade condos, according to the Miami Association of Realtors, with more than 13 months of available inventory. A housing market balanced between buyers and sellers usually has around six months of available inventory.<\/p>\n A buyer\u2019s market keeps prices low, and it may be a good time to score a deal on a condo in Miami-Dade County.<\/p>\n But that may be changing. The county saw condo inventory decrease year-over-year in February for the first time since July 2023. Decreasing inventory means buying a condo in Miami-Dade may be getting more competitive, and that may also push condo prices up.<\/p>\n Broward housing market<\/p>\n Broward County saw a slight decrease in total home sales in February compared to the previous year.<\/p>\n Total home sales were down 0.8%, and existing condo sales were down nearly 3%. But single-family transactions were up about 1%, and sales of homes over $1 million seemed to buoy the market. Million-and-up transactions rose by nearly 20% year-over-year.<\/p>\n But this relatively slow housing market may not last. Inventory for both single-family homes and condos has decreased since last February. Single-family inventory was down around 8% from the previous year, and condo inventory was down 7%.<\/p>\n Still, even as inventory decreases, it\u2019s a buyer\u2019s market for condos. There\u2019s over 11 months of available condo inventory in Broward.<\/p>\n