Key takeaways
- Miami-Dade recorded 1,769 home sales in August 2026, down 1.1% from a year earlier. The median single-family price was $680,000 (up 3.82%) and the median condo price was $408,000 (down 0.49%), per MIAMI REALTORS®.
- Single-family homes had 4.9 months of supply, a seller's market, while condos had 12.1 months, a buyer's market.
- The 30-year fixed mortgage rate averaged 7.28% on October 1, 2026 (Freddie Mac), and FinCEN's cash-purchase reporting rule remains vacated while an appeal is pending.
Miami-Dade’s August numbers are in, and they tell two different stories. Single-family homes are scarce and still gaining value. Condos are plentiful, and buyers have more room to negotiate. At the same time, mortgage rates climbed through September, and a federal reporting rule for cash purchases remains on hold. Here is what changed, and what it means if you are buying, selling or closing a Miami property this fall.
Miami-Dade sales held close to last year
According to MIAMI REALTORS® August 2026 data, Miami-Dade County recorded 1,769 total home sales in August, down 1.1% from August 2025. The split between property types matters more than the total:
- Single-family homes: 858 sales, down 3.1% year over year.
- Condos and townhomes: 911 sales, up 1% year over year.
- Total dollar volume: $1.6 billion, down 2.7% year over year.
MIAMI REALTORS® attributed the dip in total sales to elevated mortgage rates and a lack of inventory at certain price points. The top of the market moved the other way. Through August, the county recorded 194 sales of $10 million or more, already 14.1% above the 170 such sales in all of 2025, per the same report. At that pace, MIAMI REALTORS® projects about 291 such sales for the year, well above the 2021 record of 230.
Prices: houses up, condos flat
| Miami-Dade, August 2026 | Median sale price | Change vs. August 2025 |
|---|---|---|
| Single-family homes | $680,000 | +3.82% (from $655,000) |
| Condos and townhomes | $408,000 | -0.49% (from $410,000) |
Source: MIAMI REALTORS®, September 16, 2026.
Inventory: a seller’s market for houses, a buyer’s market for condos
Active listings across Miami-Dade fell 12.1% year over year, from 17,998 to 15,825 at the end of August. Single-family inventory dropped faster, down 19.23% to 4,330 listings. Condo inventory fell 9.04% to 11,495 listings (MIAMI REALTORS®).
Months of supply shows how long current listings would last at the current sales pace. MIAMI REALTORS® reported 4.9 months for single-family homes, which it classifies as a seller’s market, and 12.1 months for condos, which it classifies as a buyer’s market.
Part of the condo picture is cost. Florida Realtors’ August report, published by MIAMI REALTORS®, noted that condo and townhome buyers face added costs from higher condominium fees and special assessments that fund building maintenance and structural repairs.
Mortgage rates rose through September
Freddie Mac’s Primary Mortgage Market Survey for October 1, 2026 put the average 30-year fixed rate at 7.28%, up from 7.03% the week before and 6.34% a year earlier. The 15-year fixed averaged 6.60%, up from 6.42% the prior week.
For context, MIAMI REALTORS® cited a 30-year average of 6.67% for August, the month these sales figures cover. Rates have moved meaningfully higher since then, so contracts written in September and October are being financed at higher monthly costs than the deals that closed in August.
That gap helps explain why cash matters so much in Miami. Cash purchases made up 37.8% of all Miami-Dade closed sales in August, up from 35.6% a year earlier. Among condos, cash buyers accounted for 50.5% of sales; among single-family homes, 24.2% (MIAMI REALTORS®).
Rules that touch Miami closings right now
FinCEN’s cash-purchase reporting rule is still on hold
FinCEN’s Residential Real Estate Rule would have required certain reports on non-financed transfers of residential property to entities and trusts starting March 1, 2026. On March 19, 2026, the U.S. District Court for the Eastern District of Texas vacated the rule. FinCEN states that while the court’s order remains in force, reporting persons are not required to file Real Estate Reports. The government has appealed to the U.S. Court of Appeals for the Fifth Circuit (Holland & Knight), so the rule could return. Buyers purchasing through an LLC or trust should expect their title company to keep watching this.
Condo safety requirements still shape condo deals
Under Florida law, condominium and cooperative buildings three or more habitable stories tall need a milestone inspection at 30 years of age, or 25 if the local building official requires it, and every 10 years after. Condo associations with such buildings must also complete a structural integrity reserve study (SIRS) at least every 10 years. For unit owner-controlled associations that existed before July 1, 2022, the SIRS deadline was December 31, 2025 (Florida DBPR). These studies drive reserve funding, and they are a common source of the fees and assessments buyers now ask about.
What this means at the closing table
- Sellers of single-family homes: low inventory still works in your favor. Order your title search early so liens, open permits or old mortgages don’t slow a quick contract.
- Condo buyers: with 12 months of supply, you have time to ask questions. Review the association’s milestone inspection and SIRS status, current reserves, and any approved or pending special assessments before you commit. An estoppel certificate will show what the seller owes the association at closing.
- Financed buyers: with rates above 7%, a rate lock and a realistic closing date matter. Delays can cost money if a lock expires.
- Cash and entity buyers: cash closings can move fast, but wire fraud targets them. Always confirm wiring instructions by phone using a number you already know, never one from an email.
- Everyone: know your numbers early. Our Title & Tax Estimator gives an estimate of title insurance and Florida documentary stamp taxes for your price.
Every Miami-Dade closing has its own details, from condo approvals to entity paperwork. Advance Partners Title is an attorney-owned title company serving Miami-Dade County since 2011. Request a title quote or call us at 305-273-6510 to talk through your next closing.
Frequently asked questions
Is Miami a buyer's or seller's market in fall 2026?
It depends on the property type. MIAMI REALTORS® reported 4.9 months of supply for Miami-Dade single-family homes in August 2026, which it classifies as a seller's market, and 12.1 months for condos, which it classifies as a buyer's market.
What is the median home price in Miami-Dade County?
In August 2026 the median sale price was $680,000 for single-family homes, up 3.82% year over year, and $408,000 for condos and townhomes, down 0.49%, according to MIAMI REALTORS®.
How many Miami-Dade home sales are cash purchases?
Cash purchases made up 37.8% of Miami-Dade closed sales in August 2026: 50.5% of condo sales and 24.2% of single-family sales, per MIAMI REALTORS®.
Do cash buyers who purchase through an LLC or trust have to report to FinCEN?
Not currently. A federal court vacated FinCEN's Residential Real Estate Rule on March 19, 2026, and FinCEN says reports are not required while that order is in force. The government has appealed, so the rule could return.
This article is general informationEvery transaction is different. For advice on your situation, talk to our team or your attorney.