What's Happening in Miami’s Housing Market?

• Inventory is Climbing Fast: Miami's active home listings have risen dramatically—nearly tripling from the pandemic low to over 19,300 active listings in April 2025, the highest level since 2019. This surge in supply, especially with condos and single-family homes increasing by more than 40% year-over-year, is cooling what was once a blistering market.

• Prices Cooling and Giving Buyers Power: The median home value has dipped around 1.7% annually, settling at approximately $581,000. Meanwhile, Miami leads the nation in home delistings—59 homes are being pulled for every 100 new listings—a sign sellers are waiting for better offers rather than reducing prices immediately.

• Market Becoming Balanced or Buyer-Friendly: Condo inventory now reflects a buyer’s market, with months of supply well above the six-to-nine-month threshold that signals balance. Homes are trending that way too—giving buyers more room to negotiate and act strategically