As we saw in the latest MIF #16 (Magazine Immobilier de Floride), real estate sales increased in October 2025 across all property categories. And for condos and townhouses, this is the first time in two years that sales have grown for two consecutive months (September and October) in South Florida, boosted by lower interest rates.
Focus on condos and townhouses in the southern part of the state
According to the Miami Association of Realtors, in Miami-Dade County, the median price in October 2025 was $400,000, compared to $415,000 in October 2024. This excludes new condos coming onto the market for the first time. There are currently 12,660 condos and townhouses for sale in Miami-Dade, compared to 10,946 in October 2024 (+15.7%). This represents a sharp increase in inventory and a drop in prices.
Of note in this county: sales of condos priced between $150,000 and $199,000 skyrocketed in October, up +79% from last year.
In Broward County, and again for the same category of properties, we see the same trend with median prices at $259,000 in October 2025 compared to $280,000 last year (-7.5%). Here too, inventory is up sharply, with 11,031 properties for sale compared to 9,860 in October 2024 (+11.9%). Sales of condos and townhouses rose +10.6% in October in Broward.
The price trend is the opposite in Palm Beach County: median prices for condos and townhouses rose to $315,000 from $305,000 (+3.3%) in October 2024, with inventory increasing slightly to 7,135 properties for sale compared to 6,848 (+4.2%) in the same period last year.
Focus on single-family homes in the southern Sunshine State
Prices are holding steady or even rising: $682,000 for Miami-Dade ($670,750 last year); $643,000 for Palm Beach ($621,500 in October 2024); a slight decrease for Broward to $611,250 ($615,000 last year).
And yet inventory is up sharply: +18% in Miami-Dade; +12% in Broward; +3.6% in Palm Beach.
Gay Cororaton, chief economist at Miami Realtors, expresses optimism for the 2026 real estate market in South Florida: “The strong finish this year sets up the market for a full-year growth in 2026, underpinned by several favorable tailwinds – lower mortgage rates, sustained condo market stabilization, and an expected increase in out-of-state migration, particularly from New York and California.”
On the Miami rental market
According to Zumper, a one-bedroom apartment rents for an average of $2,500, down slightly (-3.8% compared to October 2024). For two-bedroom apartments, the median rent is $3,230 (-3.6%). This does not reflect differences between neighborhoods. In Brickell, a sought-after neighborhood known as the city’s financial center, the median rent is $4,200, up +5%; in Downtown Miami, it is $3,578.
Good deals can be found in East Little Havana, but overall Miami remains an expensive city to rent, ranking sixth nationally behind New York ($4,330 for a one-bedroom), San Francisco ($3,500), Jersey City ($3,000), Boston ($2,920), and San Jose ($2,680) in California.
