{"id":278780,"date":"2026-05-20T23:35:12","date_gmt":"2026-05-20T23:35:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/278780\/"},"modified":"2026-05-20T23:35:12","modified_gmt":"2026-05-20T23:35:12","slug":"pace-of-home-sales-remains-brisk-in-miami-dade","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/278780\/","title":{"rendered":"Pace of home sales remains brisk in Miami-Dade\u00a0"},"content":{"rendered":"

Existing home sale<\/a>s\u00a0rose\u00a0for the eighth month in a row in Miami-Dade\u00a0County\u00a0in April,\u00a0increasing\u00a05.6% year over year from 1,955 to 2,065 transactions, MIAMI REALTORS\u00ae +\u00a0RWorld<\/a>\u00a0said.\u00a0<\/p>\n

Single-family home sales rose 8.6% from 950 to 1,032, while condominium sales\u00a0climbed 2.8% from 1,005 to 1,033.\u00a0\u00a0<\/p>\n

Sales of properties priced $5 million and up jumped 25% year over year, while at the lower end of the market, condo sales priced $300,000 to $500,000 climbed 17.9%.\u00a0<\/p>\n

\u201cThe 25% increase in $5\u00a0million-plus sales further reinforces the continued expansion of ultra-luxury demand,\u201d said Douglas Elliman agent Fernanda Moreno. \u201cWe are seeing more high net-worth individuals view Miami as a primary market rather than simply a vacation destination.\u00a0\u00a0\u00a0<\/p>\n

\u201cAt the same time, the growth in the $300,000 to $500,000\u00a0condo\u00a0segment shows the market is not only being driven by luxury. Demand\u00a0remains\u00a0strong from first-time buyers, investors and people\u00a0relocating\u00a0for both work and lifestyle reasons.\u201d\u00a0<\/p>\n

The sales total does not include South Florida\u2019s new construction, pre-construction\u00a0and condo-conversion sales because they are\u00a0largely not\u00a0reported in the MLS.\u00a0<\/p>\n

\"\"<\/p>\n

Via MIAMI REALTORS\u00ae + RWorld.<\/p>\n

Cash sales accounted for 38.5% of all Miami transactions, compared to a national average of 25%.\u00a0By property type, 50.9% of Miami\u00a0condos\u00a0were\u00a0purchased\u00a0in cash, while 26.1% of single-family home purchases\u00a0were made in cash.\u00a0<\/p>\n

\u201cSouth Florida real estate is shielded in a sense from elevated mortgage rates because we lead the nation in all-cash buyers and global demand,\u201d MIAMI REALTORS\u00ae\u00a0+\u00a0RWorld<\/a>\u00a0Chairman\u00a0Alfredo Pujol said. \u201cCondos are surging because buyers see Miami\u2019s ascension as a top global city and know the market\u2019s proven history for long-term price appreciation.\u00a0Condos\u00a0are a great investment in a market where single-family homes are limited.\u201d\u00a0<\/p>\n

Total inventory declined for the third month in a row, slipping 11.4% from 18,765 in April 2025 to 16,622 last month. The number of\u00a0single-family\u00a0listings fell 14.6% from 5,527 to 4,723, while\u00a0condo\u00a0inventory dropped 10.1% from 13,238 listings to\u00a011,899 listings.\u00a0<\/p>\n

The median-sales price<\/a> for a single-family home slipped 1.5% year over year from $680,000 to $670,000, while the median price for a\u00a0condo\u00a0rose 1.1% from $445,000 to $450,000.\u00a0<\/p>\n

The 30-year fixed-rate mortgage averaged 6.33% in April, according to Freddie Mac.\u00a0<\/p>\n

\u201cMacroeconomic conditions will likely remain challenging with mortgage rates likely to hit near 7% by mid-year if the U.S.-Iran conflict lingers, but I expect South Florida\u2019s housing market to remain resilient,\u201d MIAMI Chief Economist Gay\u00a0Cororaton\u00a0said. \u201cSouth Florida continues to attract out-of-state movers, second-home buyers or corporations who are seeing worsening tax conditions in their states.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Existing home sales\u00a0rose\u00a0for the eighth month in a row in Miami-Dade\u00a0County\u00a0in April,\u00a0increasing\u00a05.6% year over year from 1,955 to…\n","protected":false},"author":2,"featured_media":278781,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[70314,118974,13214,118975,118976,108850,10692,20656,123,125,124,948,50265,118977,118978,115246,33847,875],"class_list":["post-278780","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-alfredo-pujol","tag-condominium-sales","tag-douglas-elliman","tag-existing-home-sales","tag-fernanda-moreno","tag-gay-cororaton","tag-home-sales","tag-median-home-price","tag-miami","tag-miami-headlines","tag-miami-news","tag-miami-real-estate","tag-miami-real-estate-news","tag-miami-realtors","tag-miami-realtors-rworld","tag-rworld","tag-sc","tag-south-florida-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/278780","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=278780"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/278780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/278781"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=278780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=278780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=278780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}