According to new data from the Miami Association of Realtors, single-family and condo sales across both counties grew year-over-year — signaling that buyers are stepping back into the market as mortgage rates edge lower.
“There’s a lot of pent-up demand for Miami real estate,” said Eddie Blanco, Chairman of the Miami Association of Realtors. “Declining mortgage rates are convincing more buyers to come off the sidelines. Condo listings have been dropping for five straight months, and lower supply is putting upward pressure on prices.”
Meanwhile, Broward-Miami President Larry Singh noted that “Fort Lauderdale and Broward County real estate continue to attract both domestic and global homebuyers,” highlighting hot condo pockets in Miramar, Plantation, and Davie.
📊 The South Florida Numbers Tell the Story
Condo Prices
- Miami-Dade: $420,000 median sale price (up from $410,000 in August; flat year-over-year)
- Broward: $275,000 (up from $247,700 in August; down from $281,500 a year ago)
Single-Family Home Prices
- Miami-Dade: $665,000 (up from $655,000 in August; +1.8% year-over-year)
- Broward: $626,500 (up from $625,000 in August; +1.8% year-over-year)
Sales Volume
- Miami-Dade Houses: 865 sold in September (down slightly from August, but up from 809 last year)
- Broward Houses: 1,048 sold (up from 1,015 in August; up from 928 last year)
- Miami-Dade Condos: 904 sold (up from 903 in August; up from 883 last year)
- Broward Condos: 973 sold (down one unit from August; up from 922 last year)
Inventory Levels
- Miami-Dade: 6.5 months for houses, 14 months for condos
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Broward: 5.4 months for houses, 11.6 months for condos
(A balanced market is 6–9 months — anything above favors buyers.)
💡 What It Means for Buyers and Investors
Despite talk of a “cooling” national market, South Florida remains one of the most resilient and desirable real estate hubs in the U.S. The combination of lifestyle appeal, international demand, and easing mortgage rates is setting the stage for a potential rebound through the end of 2025.
For investors, shrinking condo listings and stable single-family home growth suggest that the region could be nearing a new equilibrium — one where well-timed acquisitions may yield strong appreciation over the next cycle.
As always, Lendworth USA continues to monitor these shifts closely — aligning our lending strategies with real, data-driven insights from America’s most dynamic housing markets.
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