South Florida Housing Report
May 2026 Broward & Miami-Dade Real Estate Market Update
A detailed look at single-family homes, condos, townhomes, inventory, pricing, sales activity, and what the latest numbers mean for South Florida buyers and sellers.
The May 2026 South Florida real estate market showed stronger single-family home activity across both Broward County and Miami-Dade County. Closed sales increased, pending sales improved, and available single-family inventory declined sharply compared with May 2025.
Condos and townhomes continued to behave differently. These properties generally offered buyers more choices, longer marketing periods, and substantially more months of inventory than single-family homes.
Miami-Dade at a Glance
Miami-Dade single-family closed sales increased 10.5% from one year earlier, while the median sale price increased 0.7% to $680,000.
Miami-Dade condo and townhome closed sales increased 5.4%, but the median sale price declined 2.4% to $415,000.
Broward at a Glance
Broward single-family closed sales increased 3.2%, while the median sale price increased 0.8% to $630,000.
Broward condo and townhome closed sales declined 1.5%, while the median sale price remained unchanged at $275,000.
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Broward County May 2026 Market Update
Single-family inventory tightened while the condo and townhome market continued to offer buyers more choices.
Broward County Single-Family Homes
Broward County single-family homes posted stronger sales activity and tighter inventory in May 2026. There were 1,146 closed sales, compared with 1,110 in May 2025, representing a 3.2% increase.
- Median sale price increased 0.8% to $630,000.
- Average sale price increased 7.1% to $907,354.
- Dollar volume increased 10.6% to approximately $1 billion.
- Median time to contract declined from 38 days to 35 days.
- Active inventory declined 22.2% to 4,560 listings.
- Months of supply declined 23.7% to 4.5 months.
- New pending sales increased 11.4% to 1,298.
These figures indicate that Broward single-family homes were selling in a more competitive environment than one year earlier. Fewer active listings and stronger pending sales can support sellers, particularly when homes are priced accurately and presented professionally.
Broward County Condos and Townhomes
Broward condos and townhomes remained more favorable to buyers than the county's single-family market. Closed sales declined 1.5% to 999, although the median sale price remained unchanged at $275,000.
- Average sale price increased 5.0% to $382,115.
- Dollar volume increased 3.4% to $381.1 million.
- Median time to contract increased to 66 days.
- Median time to sale increased to 104 days.
- Active inventory declined 16.9% to 10,055 listings.
- Months of supply declined to 10.6 months.
- New pending sales increased 6.0% to 1,121.
Even after the year-over-year reduction in inventory, Broward condos and townhomes had more than twice the months of supply found in the single-family market. Buyers should compare association fees, reserves, building insurance, assessments, financing requirements, and total monthly costs.
Thinking About Selling in Broward County?
Countywide numbers are useful, but your home's value depends on the neighborhood, property condition, competition, price range, amenities, and recent comparable sales.
Miami-Dade County May 2026 Market Update
Single-family sales and dollar volume increased, while condos and townhomes continued to show greater buyer leverage.
Miami-Dade County Single-Family Homes
Miami-Dade single-family homes showed substantial year-over-year growth in May 2026. Closed sales increased 10.5% to 1,042, while dollar volume increased 34.9% to approximately $1.5 billion.
- Median sale price increased 0.7% to $680,000.
- Average sale price increased 22.1% to $1,400,654.
- Cash sales increased 31.8% to 290 transactions.
- Median time to contract increased slightly to 41 days.
- Active inventory declined 19.1% to 4,599 listings.
- Months of supply declined 21.2% to 5.2 months.
- New pending sales increased 11.0% to 1,073.
The combination of more closed sales, stronger pending activity, reduced active inventory, and higher dollar volume indicates a healthier single-family environment. Sellers still need a realistic pricing strategy because buyers remain sensitive to condition, location, insurance costs, and financing.
Miami-Dade County Condos and Townhomes
Miami-Dade condos and townhomes recorded 1,022 closed sales in May 2026, an increase of 5.4% from May 2025. However, pricing and dollar volume declined.
- Median sale price declined 2.4% to $415,000.
- Average sale price declined 9.1% to $800,443.
- Dollar volume declined 4.2% to $818.1 million.
- Median time to contract increased to 64 days.
- Median time to sale increased to 106 days.
- Active inventory declined 8.9% to 12,016 listings.
- Months of supply declined to 12.9 months.
- New pending sales increased 7.7% to 1,127.
Miami-Dade's condo and townhome market continued to carry a high level of supply. Buyers may have more opportunities to compare properties, negotiate terms, and evaluate total ownership costs. Sellers should be prepared to address association financials, reserves, assessments, insurance, building condition, and financing eligibility.
Buying or Selling in Miami-Dade?
Market conditions can vary significantly between single-family neighborhoods, luxury areas, waterfront communities, condo buildings, and price ranges. Use a property-specific analysis before making a decision.
What the May 2026 Market Means for South Florida Sellers
Single-family sellers in both counties benefited from lower active inventory and higher pending sales. That does not mean every home will sell quickly or at any asking price.
Sellers should focus on accurate pricing, strong photography, video, property preparation, complete disclosures, and a clear launch strategy. Condo sellers should also gather association budgets, reserves, insurance information, special-assessment details, and building documents before listing.
What the May 2026 Market Means for South Florida Buyers
Single-family buyers should be prepared to move quickly when a well-priced property becomes available. Broward had 4.5 months of single-family supply, while Miami-Dade had 5.2 months.
Condo and townhome buyers generally had more choices. Broward had 10.6 months of supply, while Miami-Dade had 12.9 months. Buyers should use that additional selection to compare price, condition, monthly fees, reserves, assessments, insurance, financing eligibility, and resale potential.
May 2026 Broward and Miami-Dade Market FAQ
Did Broward County home prices increase in May 2026?
Broward's single-family median sale price increased 0.8% to $630,000. The condo and townhome median sale price remained unchanged at $275,000.
Did Miami-Dade home prices increase in May 2026?
Miami-Dade's single-family median sale price increased 0.7% to $680,000. The condo and townhome median sale price declined 2.4% to $415,000.
Are Broward single-family homes selling faster?
Yes. Broward's median time to contract declined from 38 days in May 2025 to 35 days in May 2026.
Do condo buyers have more negotiating power?
Condo and townhome buyers generally have more choices because those segments carried 10.6 months of supply in Broward and 12.9 months of supply in Miami-Dade.
Is South Florida a buyer's market or a seller's market?
The answer depends on the county, property type, neighborhood, price range, and condition. Single-family homes were tighter, while condos and townhomes carried substantially higher inventory.
What should condo buyers review before making an offer?
Condo buyers should review association fees, reserves, insurance, budgets, special assessments, building inspections, financing restrictions, rental rules, and total monthly costs.
Bottom Line
The May 2026 reports show a South Florida market divided by property type. Broward and Miami-Dade single-family homes experienced stronger sales and tighter inventory, while condos and townhomes offered buyers more selection and greater negotiating flexibility.
Countywide statistics provide useful context, but they should not replace a neighborhood-level or property-specific analysis. A seller's pricing strategy and a buyer's offer strategy should reflect the exact location, property type, condition, competition, insurance, financing, association, and price range.
Request a Local Market Analysis
Contact Scott Lehr PA and The Home Owners Listing Team for a property-specific review in Broward County, Miami-Dade County, or another South Florida market.
Source: MIAMI Association of REALTORS® May 2026 market reports for Broward County and Miami-Dade County. Information is presented for general informational purposes and is believed reliable, but should be independently verified. Market conditions vary by neighborhood, property type, price range, condition, insurance, association, financing, and timing.
