Is now a good time to buy or sell in Miami? The honest answer is: it depends entirely on which market you're looking at. In July 2026, Miami's condo, townhome, and apartment segment is telling a very different story than its single family home segment, and reading the two together is the only way to make sense of where things actually stand right now.
Months of inventory sits at 11.03, meaning it would take over eleven months to sell through the current supply of listings if nothing new came on the market. That's down slightly from last month, but it still places this segment firmly in buyer's market territory.
Properties sold at about 95.2% of list price this month, and they're spending longer to get there: median days on market climbed to 67, up close to 5% from the month before. The median sold price landed at $433,000, up 4.34% month over month, though still down 1.59% from a year ago. Take that with a grain of salt: it suggests pricing has firmed up recently without fully recovering to where it stood last summer.
What stands out most is the gap between what's actively listed and what's actually going under contract. Active listings carry a median list price of $480,000, while pending listings are priced closer to $415,000, a meaningful spread. It suggests buyers in this segment are finding their leverage in the properties priced nearer that lower number, and sellers who want to move are adjusting to meet them there.
For buyers, this is the segment where negotiating room still exists. For sellers, pricing discipline and preparation matter more here than they have in some time.
Single family homes are operating in a different reality. Months of inventory dropped to 4.47, down more than 6% from last month, keeping this segment in seller's market territory. Homes are selling at 96.3% of list price, close to full ask, and median days on market came in at 44, still faster than anything on the condo side even with a 10% month over month increase.
The median sold price reached $685,000, up 2.16% month over month and up 3.79% year over year, real appreciation rather than a short-term bounce. Active list prices are also up 3% from a year ago, even as inventory continues to shrink.
Unlike the condo segment, pending and active pricing here stay in a closer range, which points to a market with less of a standoff between what sellers want and what buyers are willing to pay.
This month, Miami's condo and single family markets are behaving quite differently from one another. Condos are giving buyers room to negotiate and asking sellers to be more strategic about pricing and presentation. Single family homes are tighter, with less inventory and steadier price growth, which puts sellers in a stronger position and asks buyers to move with more preparation and urgency.
Neither of these is a permanent state, and neither tells the whole story on its own. A specific building, block, or neighborhood can behave very differently from the citywide averages above, which is where a closer, property-level read matters.
If you've been wondering where your condo, townhome, or single family home stands in today's market, or whether now is the right moment to buy, sell, or invest, let's have a conversation. No pressure, no commitment. Even if you're a year or two out, it's worth knowing where things stand. Call or text me at 305.600.9602, or email me at [email protected], and I'll be glad to help you make the move.
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