Miami Beaches & Coastal Mainland Market Report: 3Q 2026
“Miami buyers aren’t letting limited inventory slow them down. Sales climbed across every major property category in the third quarter, even as the number of available homes declined. Demand for single-family homes remains strong, condo sales are gaining momentum, and buyers are making moves across all price points.
Clearly evident this quarter is the true strength and breadth of this market. Miami isn’t relying on luxury buyers alone to drive activity. We’re seeing demand across the board, which speaks to the city’s evolution into a place where people are putting down roots, not just purchasing second homes. Inventory may be tight, but the appetite for Miami real estate certainly isn’t.”
– Pamela Liebman, Corcoran’s President & CEO
Sales Activity Continued to Grow Despite Shrinking Inventory
One of the clearest stories this quarter is the market’s ability to generate more sales with fewer homes available for purchase. Buyers remained active across Miami despite a shrinking inventory base, highlighting the depth of demand and helping support pricing across the market.
- Miami Beaches single-family sales rose 20% year over year to 95 closings, the strongest third quarter in five years.
- Coastal Mainland single-family sales increased 8% to 232 transactions, extending annual gains to a sixth consecutive quarter.
- Condo sales also improved, rising 13% on the Beaches and 8% on the Mainland versus 2025.
- Inventory declined across almost every major market segment, giving buyers fewer options and helping support pricing.
Demand for Single-Family Homes Remained Especially Strong
Single-family homes remained Miami’s most sought-after property type in the third quarter. Buyers continued to compete for limited inventory, resulting in rising sales, higher prices, and increasingly constrained supply across both the Beaches and Coastal Mainland.
- Miami Beaches median single-family sale price increased 17% year over year to $3.3 million, while the average sale price climbed 28% to $7.7 million.
- Growth at the high end helped drive pricing gains:
- Miami Beaches sales above $5 million increased 72% year over year.
- On the Coastal Mainland, sales above $5 million increased 15% year over year.
- Coastal Mainland median single-family sale price rose 19% to $2.1 million, and average sale price increased a slight 2% to $3.0 million.
- Single-family inventory fell 27% on the Beaches and 30% on the Mainland.
Condo Buyers Are Returning, but Market Performance Varies
Condo sales continued to improve in the third quarter, signaling broader buyer participation across Miami. Pricing trends varied by market, however, reflecting changes in the share of sales at various price levels.
- Miami Beaches condo sales rose 13% year over year, marking a fifth consecutive quarter of annual growth.
- Median condo price increased 6% to $630,000, while average sale price declined 10%.
- Coastal Mainland condo sales increased 8%, continuing the recovery seen throughout the year.
- Median condo price slipped 5% to $564,000, while average sale price increased 4%.
