New Listings and Market Activity
For the week ending September 30, the South Florida real estate market saw a notable decrease in new listings, with only 1,906 new properties coming onto the market compared to 2,707 the previous week. This marks a significant drop and suggests a tightening in available inventory. Of these new listings, 375 were priced above $1 million, and 161 were above $2 million, indicating sustained activity in the luxury segment.
The MIAMI REALTORS® MLS data also shows a substantial number of price reductions, totaling 9,033. This includes 1,454 reductions for homes priced over $1 million, which might signal sellers adjusting expectations in response to market conditions.
Sales and Contract Insights
Despite the reduction in new listings, 882 sales were closed over the past week, with 140 of these transactions involving properties priced over $1 million. This indicates ongoing demand, particularly in the higher-end market. Meanwhile, the number of homes currently under contract stands at 11,394, with a significant portion (2,025) of these being luxury properties.
Days on Market and Active Listings
For active listings priced over $1 million, the median days on market is currently 93 days, suggesting that high-value properties are taking longer to sell. Overall, there are 58,289 active listings, with 11,396 of these in the $1 million-plus range.
Waterfront properties remain a popular choice, with 571 new waterfront listings this week, bringing the total active waterfront listings to 20,058. The median asking price for these properties is $580,000, highlighting their premium status.
Neighborhood Highlights
Among neighborhoods, Layton Pointe continues to lead with 17 new listings, followed by Casa Bella Residences with 8, and Port St. Lucie Section 19 with 5. These areas are seeing notable activity, potentially attracting buyers seeking specific community features.
What This Means for Out-of-State Buyers
For buyers watching from out of state, this week's data suggests a more competitive environment due to fewer new listings. With a high number of price reductions, it might be a strategic time to explore potential opportunities, especially in the luxury market segment where price adjustments are more prevalent.
Actionable Insight
If you're considering entering the South Florida market this week, focus your efforts on properties that have recently seen price reductions. Given the current conditions, it would be advantageous to work closely with a local real estate professional to navigate these changes effectively. For a comprehensive breakdown of the week's activity, refer to the data appendix titled "The week in numbers."
The week in numbers
All figures below are computed arithmetically from the MIAMI REALTORS® MLS feed for the week ending 2026-09-30 — counted and totaled by our systems, not written by AI. A dash (—) means there were too few data points to report a figure honestly.
By city
| City | Active | New (7d) | Median list | Median DOM | Closed (30d) | Median close (30d) | Months of inventory |
|---|---|---|---|---|---|---|---|
| Miami | 8,870 | 300 | $615,000 | 61 | 575 | $585,000 | 15.4 |
| Fort Lauderdale | 2,858 | 98 | $657,000 | 90 | 226 | $544,500 | 12.6 |
| Port St. Lucie | 2,412 | 88 | $429,900 | 69 | 335 | $400,000 | 7.2 |
| Miami Beach | 2,179 | 44 | $639,000 | 79 | 119 | $660,000 | 18.3 |
| Boca Raton | 1,983 | 75 | $550,000 | 74 | 284 | $721,000 | 7 |
| West Palm Beach | 1,920 | 58 | $308,500 | 82 | 202 | $374,500 | 9.5 |
| Hollywood | 1,864 | 60 | $484,500 | 76 | 121 | $450,000 | 15.4 |
| Delray Beach | 1,687 | 87 | $279,000 | 78 | 179 | $425,000 | 9.4 |
By price band
| Price band | Active listings | New this week |
|---|---|---|
| Under $500K | 31,528 | 930 |
| $500K – $1M | 15,364 | 572 |
| $1M – $2M | 5,588 | 189 |
| $2M – $5M | 3,781 | 110 |
| $5M+ | 2,027 | 44 |
By property type
| Type | Active | New (7d) | Median list |
|---|---|---|---|
| Single-family homes | 21,351 | 826 | $690,000 |
| Condos / townhouses | 34,262 | 935 | $359,900 |
Waterfront
20,058 active waterfront listings (571 new this week), median asking $580,000. 280 report no fixed bridges to open water.
Definitions: “New” counts listings that came on market in the last 7 days, whatever their status today. “Median DOM” is days on market across active listings. “Months of inventory” is active listings divided by the last 30 days of closings — under ~6 months generally favors sellers, over ~6 favors buyers. Medians and inventory are omitted below 5 closings.
