Miami-Dade Housing in October 2026: Leaner Supply, Firm House Prices, and Real Leverage on Condos

Miami-Dade’s market kept its two tempos in September. Single-family homes stayed tight and kept gaining value. Condos stayed buyer-friendly, even as more buyers stepped in near the median. With mortgage rates at their highest in years, a clear plan matters more than ever.

Inventory keeps shrinking

Active listings stood at 16,242 at the end of September, down 10.1% year over year, the eighth straight monthly decline. Single-family inventory fell to 4,536 (-16.6%), and condos to 11,706 (-7.2%). Single-family homes sat at 5.1 months of supply, a seller’s market, while condos sat at 12.3 months, a buyer’s market. A balanced market runs six to nine months.

Prices, pace, and rates

The single-family median rose to $692,000 (up 4.1%), and homes went under contract faster: a median of 41 days, down from 50 a year ago. The condo median was $417,090 (down 0.7%), with a median of 67 days to contract, down from 75.

Total closed sales were 1,733 (down 2%). Single-family closings fell 4.7% to 824, while condo closings edged up 1% to 909. Condos priced between $300,000 and $400,000 were a bright spot, with sales up 14.5% (from 159 to 182). Cash buyers made up 38.3% of closings, and distressed sales were just 0.5%.

Rates are the headwind. MIAMI REALTORS® reports the 30-year rate climbed nearly 0.6 points since early September to 7.46% as of October 13. The pre-storm state of emergency ahead of Hurricane Isaias (South Florida was not among the affected counties) also slowed some approvals and closings.

What this means

Buyers: Get fully underwritten at today’s rate and know your monthly comfort zone before you shop. In single-family, clean, well-priced homes are moving faster, so be ready to act. In condos, use the supply to negotiate, and ask early about the building’s financing approvals, since very few South Florida condo buildings are FHA-approved.

Sellers: Single-family sellers still hold the edge, but buyers are rate-sensitive, so price to recent comps and present the home well. Condo sellers should price realistically, have association documents ready, and expect to negotiate.

A steady next step with NINO GLOBAL REALTY

If you are weighing a purchase, sale, or lease in Miami-Dade or greater South Florida, Nino Global Realty can walk you through inventory, comps, and timing in plain language. Call (954) 224-3896 or email ninoglobalrealty@gmail.com.

Sources: MIAMI REALTORS® + RWorld September 2026 release (Oct 16, 2026); Florida Realtors September 2026 Miami-Dade single-family summary.