Miami Beaches & Coastal Mainland Market Report: 1Q 2026
“Miami is entering a more disciplined phase of growth to start the year. In Miami Beach, sales are accelerating again, with single-family deals up 13% and condos up 15% to a four-year high. At the very top, the market remains exceptionally strong, with headline trades reinforcing the continued appetite for trophy assets.
At the same time, the Mainland is where we’re seeing real momentum – single-family sales are up 16% for a seventh straight quarter, condo prices are surging with average values up 18%, and transactions above $3M have nearly tripled compared to last year. Miami’s momentum is no longer concentrated around the beach – it’s broader and a more durable expansion across the market.”
– Pamela Liebman, Corcoran’s President & CEO
Miami Beaches
Sales activity is strong and improving.
- Single-family sales rose 13%, the first increase since mid-2024.
- Condo sales were up 15% — reaching a four-year high — with most submarkets participating.
Pricing reflects a shift – not a slowdown.
- Median prices declined across both product types, largely due to fewer $10M+ trades and more activity under $1M.
- Average prices tell a different story: The single-family average was up 9%, driven by ultra-luxury outliers. The condo average was up 3%, supported by top-tier sales.
Headline transactions underscore enduring demand at the very top.
- A record-breaking $170M Indian Creek sale.
- A Surf Club penthouse achieving the highest price per square foot ever on Miami Beach.
Inventory is tightening again.
- The first decline since 2023, for both single-family and condos.
- Suggests supply remains constrained, particularly in premium locations.
Miami Coastal Mainland
Sustained growth across product types.
- Single-family sales were up 16%, marking the seventh consecutive quarter of gains — and hitting a five-year high.
- Condo sales were up 13%, marking a meaningful rebound from prior lows.
Price growth signals real momentum – especially in condos.
- Single-family median price reached a record high (+10%), driven by strength in the $5M+ segment.
- Condo pricing surged: Average price was up 18%. Price per square foot was up 9%.
- Sales over $3M nearly tripled year-over-year.
Average price declines in single-family are optics, not fundamentals.
- Skewed by comparison to last year’s $85M outlier sale.
- Underlying pricing trends remain firm-to-improving.
Luxury demand is expanding beyond the Beaches.
- Coral Gables and Coconut Grove are driving outsized gains.
- High-end buyers are increasingly comfortable transacting across mainland submarkets.
