In February, the market performed quite well across the five counties represented by Miami Realtors: Miami-Dade, Broward, Palm Beach, Martin, and St. Lucie.
Sales of single-family homes are on the rise
With the exception of Martin County, sales of single-family homes increased, particularly in Palm Beach County (+7.9%) and Miami-Dade County (+4.3%), but also in St. Lucie (+2.4%) and Broward (+1.1%).
And a pleasant surprise for sellers: median prices are rising—up 4.6% in Miami-Dade ($685,000), 1.6% in Broward ($620,000), and 4.3% in Palm Beach County ($675,000).
However, the number of days between listing and closing is increasing. Buyers are taking more time, but this isn’t dampening their desire to buy.
While inventory is rising in Miami-Dade (6.2 months), it is falling in Broward (5.0 months) and Palm Beach (4.9 months). The market has clearly reached a point of equilibrium.
Condo sales have skyrocketed almost everywhere…
In Miami-Dade, Palm Beach, Martin, and St. Lucie counties, sales of condos and townhouses rose sharply in February 2026: +14.7% for Miami-Dade, +10.7% for Palm Beach, +7.8% for Martin, and +5.4% for St. Lucie.
That’s impressive, but it’s because prices have plummeted: in Miami-Dade, the median price dropped by nearly 10%, to $410,000 from $455,000 in February 2025. In Martin, they fell by 4.1%. St. Lucie is suffering the most with a drop of… 23%, to $250,500 compared to $325,500 last year.
What’s interesting to note for Miami-Dade County is that the total volume of transactions has risen sharply: nearly $710 million in transactions, compared to $592 million in February 2025 (+19.8%)! While we usually analyze the median price in real estate, this means that the average price—not the median—has increased, likely due to a few high-value real estate transactions involving luxury apartments.
In Palm Beach County, median prices remain steady at $413,000, compared to $415,000 in February 2025. 66% of transactions are cash sales, and it takes approximately 105 days to sell a property (compared to 102 days previously).
The condo and townhouse market in Broward is still struggling
The decline in sales is less severe than in the past, with 767 transactions in February 2026 compared to 789 last February (-2.8%). And prices remain at roughly $270,000 compared to $275,000 last year (-1.8%). Inventory has stabilized at around 11.5 months. It takes 110 days to close a sale, compared to 105 days in February 2025. Approximately 55% of transactions in this segment are still completed in cash.
Interesting fact: in Broward, 93% of transactions were completed at the last listed price, highlighting the importance for sellers to price their homes correctly. A real estate agent’s advice is therefore crucial for accurately estimating the value of a property.
Source: www.miamirealtors.com/news
