Buyer guide · Miami-Dade County
Buying a home in Miami-Dade: know which market you’re in.
How condos and single-family homes differ right now, what to check before you make an offer, and how a purchase moves to closing.
In short
- Miami-Dade is two markets. In September 2026, single-family homes had 5.1 months of supply, which MIAMI REALTORS® says indicates a seller’s market. Existing condos and townhouses had 12.3 months, which it says indicates a buyer’s market.
- Condo and townhouse buyers have more choice and room to negotiate, though less than a year ago: sellers received a median 93.9% of original list price, up from 92.9%.
- Single-family supply is tight: 4,536 active listings, 16.6% fewer than a year earlier, and a median 41 days to contract.
- In a condo purchase, the building matters as much as the unit.
Source: MIAMI REALTORS® / SEFMLS, Miami-Dade County, September 2026 vs. September 2025, released Oct. 16, 2026. Based on information from the Southeast Florida Multiple Listing Service (SEFMLS) or from MIAMI Association of REALTORS® for the periods 09/01/2025 through 09/30/2025 and 09/01/2026 through 09/30/2026.
Which market are you buying in?
MIAMI REALTORS® treats under six months of supply as a seller’s market, six to nine months as balanced, and more than nine months as a buyer’s market. In Miami-Dade, single-family homes and condos sit on opposite sides, so the strategy for your search starts with which one you are shopping for.
Miami-Dade County, September 2026 (September 2025 and the change in parentheses)
| Measure | Single-family homes | Condos and townhouses |
|---|---|---|
| Months of supply | 5.1 (6.5) | 12.3 (14.0) |
| MIAMI REALTORS® label | “indicates a seller’s market” | “indicates a buyer’s market” |
| Median sale price | $692,000 ($665,000; +4.1%) | $417,090 ($420,000; −0.7%) |
| Active listings | 4,536 (5,437; −16.6%) | 11,706 (12,620; −7.2%) |
| Closed sales | 824 (865; −4.7%) | 909 (904; +0.6%) |
| Median days, list to contract | 41 (50) | 67 (75) |
| Median % of original list price received | 95.3% (94.7%) | 93.9% (92.9%) |
Source: MIAMI REALTORS® / SEFMLS, Miami-Dade County, September 2026 vs. September 2025, released Oct. 16, 2026. New construction is largely not reported in the MLS, so these figures mainly reflect resales. Condo figures include townhouses; single-family figures exclude townhouses. Based on information from the Southeast Florida Multiple Listing Service (SEFMLS) or from MIAMI Association of REALTORS® for the periods 09/01/2025 through 09/30/2025 and 09/01/2026 through 09/30/2026.
The full figures and the two-year trend are in the Miami-Dade housing market report.
Buying a condo or townhouse: check the building first
With many units to choose from, a condo buyer can be selective. The building deserves as much attention as the unit:
- Finances. The association’s budget, its reserves and any special assessments that are approved or under discussion.
- Structure. Florida requires condominium buildings of three or more habitable stories to have milestone structural inspections once they reach a set age, and their associations to complete structural integrity reserve studies. Ask for the status of both.
- Rules. Leasing restrictions, pet rules and the association’s approval process for new owners.
- Your review period. For a condominium resale, Florida law lets you cancel within 7 days (excluding Saturdays, Sundays and legal holidays) after you sign the contract and receive the association’s required documents, as long as the sale has not closed. Townhouses governed by a homeowners’ association follow different rules.
Before you make an offer, we gather what is available about the building. Once you are under contract, we go through the association’s documents with you during your review period.
Buying a single-family home: prepare before you tour
With fewer listings and faster contracts, the work done before the first showing decides how well a search goes: the areas that fit, your must-haves and trade-offs, and, if you are financing, a lender’s pre-approval. Negotiation is still normal. In September 2026, single-family sellers received a median 95.3% of original list price, so we build each offer from recent comparable sales rather than from the asking price.
Source: MIAMI REALTORS® / SEFMLS, Miami-Dade County, September 2026 data, released Oct. 16, 2026. Based on information from the Southeast Florida Multiple Listing Service (SEFMLS) or from MIAMI Association of REALTORS® for the period 09/01/2026 through 09/30/2026.
Choosing where to look
Miami-Dade runs from Aventura and Miami Beach to Doral, Hialeah, Kendall, Coral Gables and Homestead, with very different housing stock, commutes, flood zones and association rules. We compare areas on objective measures such as price, property type, commute and flood zone, and we never describe a neighborhood by who lives there.
How a purchase unfolds
- A first conversation about what you need, your budget and your timing.
- A written buyer agreement before we tour homes together. It states our compensation, which is negotiable.
- The search and tours, narrowed to the areas and buildings that fit.
- The offer, built on a pricing analysis of comparable sales.
- Under contract: inspection, condo document review where it applies, appraisal and financing, on the timelines the contract sets.
- Closing with the title company or closing attorney.
Two advisors
Peter J. Moreno, Jr., MBA brings investment underwriting and strategy, useful for income properties and for any purchase where the numbers decide. Alexis V. Torres handles buyer representation and holds the NAR Pricing Strategy Advisor (PSA) and Short Sales & Foreclosure Resource (SFR) certifications. Many clients work with both of us.
Questions we hear
Is it a buyer’s market for condos in Miami-Dade?
Yes, by MIAMI REALTORS® measures. Existing condos and townhouses had 12.3 months of supply in September 2026, down from 14.0 a year earlier, and the association says 12.3 months indicates a buyer’s market. Single-family homes, at 5.1 months, indicate a seller’s market by the same measure.
What should I check before buying a condo in Miami-Dade?
The association’s budget and reserves, the status of the milestone inspection and structural integrity reserve study where they apply, any special assessments, and the rules on leasing, pets and buyer approval. Before you make an offer, we gather what is available about the building. Once you are under contract, we go through the association’s documents with you during your review period.
What is the difference between a milestone inspection and a structural integrity reserve study?
They answer different questions. A milestone inspection checks the building’s structure: a licensed Florida architect or engineer inspects it by December 31 of the year it turns 30 (or 25, where the local building official requires it, for example near salt water) and every 10 years after that, with a more detailed second phase if the first finds substantial structural deterioration. A structural integrity reserve study (SIRS) looks ahead: at least every 10 years, it reviews the roof, structure, fireproofing, plumbing, electrical systems, waterproofing, windows and exterior doors, and sets out how much the association should save to repair and replace them. Both apply to condominium buildings of three or more habitable stories.
How do I find out a building’s fees and any special assessments before making an offer?
Start with the association’s annual budget, which sets the regular assessments each unit pays, and the reserve study’s funding plan. Then read the last 12 months of board meeting minutes and notices: in Florida, a non-emergency special assessment is considered at a meeting noticed at least 14 days ahead, with its estimated cost and purpose, so approved and proposed assessments leave a record. Associations with 25 or more units post these records on an owners’ website, which the seller can open. For a resale, the seller provides the budget and financial statement, and before closing the association’s estoppel certificate states what is owed on the unit. Before you make an offer, we gather what is available about the building; once you are under contract, we go through the association’s documents with you.
How can I check a building’s structural status?
Ask for the milestone inspection summary and, if the inspector found substantial structural deterioration, the second-phase report and the repairs it called for. Within 45 days of receiving the report, the association must send the inspector’s summary to every owner and post it on the property, and an association with a website must publish the full report there; the local building official receives it too. Associations must also report a completed reserve study to the Florida Department of Business and Professional Regulation (DBPR), which posts the reporting forms it receives in a public list online. Engineers and architects judge structures; our part is to make sure you see their findings, and what the association has done about them, before you commit.
Should I avoid older condo buildings?
Not on age alone. Age tells you which requirements apply, not what the inspections found: every condominium building of three or more habitable stories needs a reserve study, and milestone inspections begin at 30 years (or 25 where required). What matters more is whether the inspections are complete, what they reported, whether the association is funding its reserves, and what the board has approved or is planning. An older building with completed inspections and a funded plan can be a clearer decision than a newer one with open questions.
Do I need a buyer’s agent in Florida, and does it cost me anything directly?
You don’t have to use one. In most transactions, buyer-agent compensation is negotiated and disclosed in writing before you tour a property, not deducted from your pocket at closing by default, per current NAR practice-change rules.
How quickly do homes go under contract in Miami-Dade?
Homes that sold in September 2026 went under contract in a median 41 days for single-family homes and 67 days for condos and townhouses, according to MIAMI REALTORS®.
Which parts of Miami-Dade do you cover?
All of Miami-Dade County, from Aventura and Miami Beach to Doral, Hialeah, Kendall, Coral Gables and Homestead. Our office is in Miami Lakes, and we also serve Broward and Palm Beach counties.
Figures in these answers: Source: MIAMI REALTORS® / SEFMLS, Miami-Dade County, September 2026 vs. September 2025, released Oct. 16, 2026. Based on information from the Southeast Florida Multiple Listing Service (SEFMLS) or from MIAMI Association of REALTORS® for the periods 09/01/2025 through 09/30/2025 and 09/01/2026 through 09/30/2026.
Start with eight quick questions
Tell us what you are looking for and when. Peter or Alexis will contact you personally, typically within minutes from 8 AM to 8 PM Eastern, and first thing the next morning after hours.
Sources
- MIAMI REALTORS®, September 2026 Miami-Dade release (Oct. 16, 2026)
- Florida REALTORS® summary: Miami-Dade single-family homes, September 2026 (PDF)
- Florida REALTORS® summary: Miami-Dade townhouses and condos, September 2026 (PDF)
- Fla. Stat. 553.899: milestone inspections of condominium buildings
- Fla. Stat. 718.111: condominium official records and association websites
- Fla. Stat. 718.112: condominium association budgets and structural integrity reserve studies
- Fla. Stat. 718.116: condominium assessments and estoppel certificates
- Fla. Stat. 718.503: disclosure to condominium resale buyers
- Florida DBPR: structural integrity reserve study (SIRS) reporting and public database
- Florida DBPR: condominium and cooperative FAQs (assessments, reserves, official records)