May 2025
MIAMI DADE - MARKET UPDATE
In May 2025, the Miami-Dade housing market continued to adjust as higher inventory levels and longer selling timelines shaped buyer and seller behavior. While median prices remained steady or rose, sales activity declined, reflecting a more selective and competitive environment.
Miami-Dade Single Family Home
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Closed Sales: 943 (↓14% YoY)
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Median Sale Price: $675,000 (↑3.8% YoY)
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Active Inventory: 5,687 (↑44% YoY)
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Months' Supply of Inventory: 6.6 months (↑4.4 months YoY)
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New Listings: 1,553 (↑1.1% YoY)
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New Pending Sales: 967 (↓14% YoY)
Miami-Dade’s single-family home segment saw a marked increase in available listings and supply, giving buyers more leverage and time to make decisions. Despite a moderate rise in prices, fewer properties went under contract, pointing to tempered buyer urgency.
Miami-Dade Townhouses and Condo
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Closed Sales: 970 (↓25% YoY)
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Median Sale Price: $425,000 (no change YoY)
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Active Inventory: 13,192 (↑40% YoY)
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Months' Supply of Inventory: 14.0 months (↑8.6 months YoY)
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New Listings: 2,109 (↓3.4% YoY)
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New Pending Sales: 1,046 (↓19% YoY)
The townhouse and condo sector continued to cool with a sharp drop in closed and pending sales, even as prices held steady. With inventory reaching new highs, the market favored buyers, particularly those with flexible timelines and negotiation power.
