Total home sales in the region climbed 7.9% compared to the previous year, reaching 2,064 transactions. The luxury sector proved particularly resilient, with properties priced at $1 million and above seeing a 14.7% spike in activity. Single-family home transactions led the charge with a 10.5% increase, while the condo market recorded a 5.4% rise. According to MIAMI REALTORS + RWorld, this sustained momentum has generated a local economic impact of approximately $266 million for the month.
Miami-Dade Real Estate Market Extends Growth Streak to Nine Months
Miami-Dade County’s housing market defied cooling national trends in May 2026, recording its ninth consecutive month of year-over-year sales growth. Driven by a surge in high-end transactions and a heavy reliance on cash buyers, the region continues to outperform domestic housing benchmarks despite rising mortgage rates.
Market dynamics remain heavily influenced by liquidity rather than traditional financing. Cash purchases accounted for 38.7% of all closed sales in May, significantly outpacing the national average of 25%. While mortgage rates hover near 6.44%, the region's inventory is tightening; active listings dropped 11.9% year-over-year, creating a pronounced seller’s market for single-family homes. Despite these pressures, Miami remains a relatively affordable option for global buyers, with property values per square meter trailing major international hubs like New York and London.
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