This performance outpaces the previous record of 230 sales established during the 2021 market surge. Despite mortgage rates climbing above 7% in September, the region continues to attract liquidity-heavy buyers, with cash transactions representing 37.8% of all closed sales in August. The ultra-luxury sector remains particularly resilient, averaging one sale per day at the $10 million threshold.
In section Releases
Miami-Dade on Track to Shatter Record for $10M+ Home Sales
Miami-Dade is set to break its annual record for residential transactions exceeding $10 million, signaling a sustained influx of wealth into South Florida. Through August 2026, the county recorded 194 such sales, already surpassing the full-year total for 2025 and positioning the market to reach an estimated 291 transactions by year-end.
While the high-end market thrives, the broader landscape faces inventory constraints. Total active listings dropped 12.1% year-over-year to 15,825, with single-family home inventory falling by 19.2%. This scarcity of supply maintains upward pressure on pricing, even as total home sales saw a slight 1.1% decline in August. Analysts point to the disparity between single-family homes, currently in a seller’s market with a 4.9-month supply, and the condo sector, which holds a 12.1-month supply. Despite these shifts, Miami remains a competitive global bargain; $1 million currently secures 58 square meters of prime property, significantly more than in New York, London, or Paris.
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