![\"Miami-Dade](\"https:\/\/faccinmiami.com\/blog\/wp-content\/uploads\/2026\/06\/article3-body-900x506-3.webp\"\/)
<\/figure>\nInventory declined 11.9% year-over-year, with active listings falling to 14,203 from 16,122 in May 2025. The months of supply \u2014 a measure of how long it would take to sell all active listings at the current sales pace \u2014 dropped to 5.0 months for single-family homes and 6.2 months for condominiums. Both figures are below the 6-month threshold that typically defines a balanced market, confirming that Miami-Dade remains a seller’s market in most price segments.<\/p>\n
Median prices showed moderate appreciation. The median sale price for single-family homes rose 4.2% year-over-year to $685,000, while the median condo price increased 2.8% to $425,000. The more modest condo appreciation reflects the ongoing adjustment in the mid-market condo segment, where higher HOA fees and insurance costs have dampened demand from first-time buyers and investors seeking short-term rentals.<\/p>\n Several structural factors continue to support Miami-Dade’s real estate market. International buyer activity remains elevated, with buyers from Brazil, Colombia, Argentina, and Canada accounting for a significant share of luxury transactions. The Miami Association of Realtors reports that international buyers represented approximately 18% of all closed sales in the first quarter of 2026, with the average international buyer spending $850,000 \u2014 significantly above the overall market median.<\/p>\n The mortgage rate environment remains a headwind for domestic buyers. The 30-year fixed rate averaged 6.7% in May 2026, according to Freddie Mac, which continues to price out a segment of first-time buyers and move-up buyers who need financing. However, the luxury segment is largely insulated from this dynamic, as cash transactions accounted for 42% of all Miami-Dade sales in May \u2014 well above the national average of approximately 28%.<\/p>\n The South Florida 2026-2027 Housing Outlook, published by the Miami Association of Realtors in June, projects that total sales will increase approximately 3% in 2026 compared to 2025, with price appreciation moderating to 2-4% annually. The report notes that mortgage rates are expected to decline gradually toward 6.2-6.5% by year-end, which could stimulate additional demand from rate-sensitive buyers in the second half of the year.<\/p>\n For international buyers evaluating Miami-Dade real estate, the May 2026 data reinforces several key conclusions. First, the luxury segment continues to offer the most favorable supply-demand dynamics, with inventory declining faster than the overall market and sales growth outpacing lower price points. Second, the cash-heavy transaction profile means that buyers who can transact without financing are at a significant competitive advantage, particularly in multiple-offer situations. Third, the inventory decline means that buyers who are waiting for a significant price correction are likely to be disappointed \u2014 the data does not support that scenario in the near term.<\/p>\n The condo market requires more nuanced analysis. While overall condo sales are growing, the mid-market segment (roughly $300,000 to $600,000) faces headwinds from rising HOA fees and insurance costs that have increased the true cost of ownership significantly over the past two years. Buyers in this segment should model total cost of ownership carefully, including HOA fees, insurance, and potential special assessments, before committing to a purchase.<\/p>\n![\"Miami-Dade](\"https:\/\/faccinmiami.com\/blog\/wp-content\/uploads\/2026\/06\/article3-infographic-1100x619-3.webp\"\/)
<\/figure>\nWhat Is Driving the Market<\/h2>\n
Implications for International Buyers<\/h2>\n