Miami real estate trends

August 2025 Miami and Southeast Florida Housing Market Report: Prices, Sales, and Inventory Trends

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August 2025 Southeast Florida Housing Market Report: Pending Sales, Prices & Trends

Key Takeaways for August 2025

  • Single-family pending sales rose 4.7%, while condo/townhome pending sales increased 0.9%.
  • Median single-family home prices climbed 2.3% in Miami-Dade (14th straight August increase), with Broward leading at 3.1%.
  • Luxury condo sales ($1M+) surged 10.8% in Miami-Dade and 15.4% in Broward.

👉 [Download the full August 2025 Southeast Florida Housing Market Report here.]

Buyer Momentum Strengthens in Miami & South Florida

Pending sales across Southeast Florida showed signs of renewed growth in August 2025, driven by declining mortgage rates, strong job creation, and continued migration.

  • Mortgage rates eased from July to 6.59% in August 2025, ahead of the Fed’s September rate cut.
  • The Fed cut rates by 25 basis points, with two more cuts expected by year-end and another in 2026.
  • MIAMI Realtors® projects a 5% rebound in single-family sales in 2026 as rates stabilize near 6%.

County-Level Pending Sales Breakdown

Single-Family Pending Sales (August 2025 vs. August 2024)

  • Miami-Dade: -0.5%
  • Broward: +5.6%
  • Palm Beach: +7.7%
  • Martin: +3.3%
  • St. Lucie: +7.1%

Condo/Townhome Pending Sales (August 2025 vs. August 2024)

  • Miami-Dade: -7.2%
  • Broward: -0.3%
  • Palm Beach: +6.0%
  • Martin: +27.9%
  • St. Lucie: +50.0%

đź“Ś Notable Trend: While overall condo/townhome transactions remain softer, million-dollar condos are surging, with double-digit sales growth in Miami-Dade (+10.8%) and Broward (+15.4%).

Inventory Trends: Declining From Mid-2025 Highs

After peaking mid-year, active inventory is now falling, signaling stronger absorption rates:

  • Single-Family Homes: Miami-Dade (-3%), Broward (-7%), Palm Beach (-12%), Martin (-19%), St. Lucie (-16%).
  • Condos/Townhomes: Miami-Dade (-3%), Broward (-10%), Palm Beach (-14%), Martin (-24%), St. Lucie (-18%).

This declining inventory suggests increased competition heading into late 2025.

Home Prices: Gains in Single-Family, Discounts in Condos

  • Single-Family Median Prices (YoY):
    • Miami-Dade: +2.3% (14th straight August gain)
    • Broward: +3.1%
    • Palm Beach: +2.0%
    • Martin: +0.9%
    • St. Lucie: -1.2%
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  • Condo/Townhome Median Prices (YoY):
    • Miami-Dade: -1.2%
    • Broward: -9.9%
    • Palm Beach: -9.5%
    • Martin: -20.7%
    • St. Lucie: -9.6%
  •  

📉 Sellers of condos are offering larger discounts to clear inventory, while single-family homes remain resilient, especially in Broward and Palm Beach.

Outlook: What’s Next for South Florida Real Estate?

With mortgage rates easing, steady job growth, and migration above pre-pandemic levels, the South Florida housing market is positioned for steady growth in 2026.

Expect:

  • Stronger single-family demand.
  • Continued momentum in luxury condo sales.
  • Tighter inventory, fueling buyer competition.