Miami Housing Market

Miami’s housing market saw rising sales amid tightening inventory and annual price declines in April.

A total of 2,156 homes sold during the month, representing a 2.9% increase from the same month in 2025. While up year over year, the typical spring bounce in sales stalled in April, with 127 fewer sales than in March. The market has seen some rebound from last year, when most months saw year-over-year declines in the number of homes sold. Buyers relocating from metros such as New York, Seattle, and Los Angeles continued to support demand, as Miami remains relatively affordable compared to other large coastal metros.

The number of active listings fell in April due to fewer new listings and a large spring sales surge in March, which removed inventory from the market. The number of both new listings and active listings fell 6.9% year over year, and time on market decreased slightly over the previous month. Miami remains a buyers’ market, with about 10.5 months of supply. Condos tend to stay on the market longer, with a median time on market of over 100 days and 15.3 months of supply for that subset.

Home prices edged lower in April, with the median sale price falling to $575,000, down 2.9% from a year ago. That’s a notable shift at a time when prices are still rising across much of the country. In fact, only San Antonio and Austin saw weaker annual price trends. Not all homes in Miami are seeing the same pressure. Prices for larger homes slipped, while condos posted a small gain. This might be a sign that more buyers are seeking lower-priced options as budgets tighten. Even with fewer homes on the market and sales picking up, prices fell in April. The takeaway: today’s buyers in Miami are more price-sensitive, and the local housing market is responding.

The median home sale price in Miami decreased by 2.9% compared to the same time last year, while the national median price rose by 1.7%.

Miami median home prices decreased by $17,000 year over year on a nominal basis in April to $575,000. Meanwhile, the national median home price increased by $6,500 to $390,000.

Miami was the 12th highest-priced housing market among the top 40 largest markets last month. The Miami median home price of $575,000 was 47.4% above the national median home price. Miami's median home price in April compares to the market's peak of $592,000 recorded in April of 2025.

The median price of Miami single-family homes fell $8,500 over the past year to $670,000, while the median townhome price declined 2.1%, and the median condo price rose 1.1%.

The number of active listings in Miami decreased by 6.9% in April compared to the same time last year, while national active listings rose by 6.3%.

Miami active listings fell by 1,474 year over year in April to 20,040 active listings. Miami ranked 36th, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in April.

Miami active listings were below their pre-pandemic levels in the month of April. Miami active listings were 18.1% below the April 2019 total of 24,482.

Miami single-family active listings decreased by 6.9% to 6,212 in April. In comparison, townhome active listings were the same figure as they were last year, at 2,777, and condo active listings declined by 8.4% to 11,051.

The number of home sales in Miami increased by 2.9% in April compared to the same time last year, while national home sales rose by 0.6%.

Miami home sales increased by 60 year over year on a nominal basis in April to 2,156. For context, 2,096 sales closed in Miami in April 2025.

Miami ranked ninth for the annual change in home sales out of the top 40 U.S. markets in April on a percentage basis. This year's April increase of 2.9% compares to the 18.0% year over year decrease in April 2025.

Miami single-family sales increased by 5.5% in April to 1,028. In comparison, townhome sales fell by 5.8% to 327, and condo sales rose by 3.4% to 801.

For questions and commentary about this report:

Elliott Krivenko, Senior Director of Analytics at CoStar and Homes.com, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Elliott Krivenko

Senior Director of Analytics

Homes.com

ekrivenko@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Miami during April 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.