New Listings and Inventory
The week ending October 21, 2026, saw a significant reduction in new listings, with 2,004 properties newly listed, down from 2,759 the previous week. This tightening in new supply is notable for potential buyers, particularly those watching from outside the state. Among these, 387 were priced over $1 million, and 196 were over $2 million. Active inventory increased slightly by 0.9%, leaving 48,540 properties currently on the market, of which 9,651 are in the $1 million-plus category.
The neighborhoods with the most new listings this week include Jinama South Subdivision, Juniper Cove with 9 new listings, followed by LAKEFRONT ESTATES with 6, and Lakefront Estates with 5. Buyers looking for specific areas might find opportunities in these neighborhoods.
Pricing and Reductions
Price reductions continue to be a significant trend, with 8,893 reductions recorded, including 1,475 on homes priced over $1 million. This could indicate opportunities for negotiation, especially for buyers in the luxury segment. The median closed price for the week was $477,750, providing a general benchmark for buyers evaluating property values.
Contract Activity and Sales
Currently, there are 10,051 homes under contract, of which 1,858 are priced over $1 million. This steady contract activity suggests sustained interest in the South Florida market, particularly in the luxury segment.
Sales closed in the last 7 days totaled 860, with 139 of these being $1 million-plus properties. These figures reflect a stable flow of transactions, although the dip in new listings could influence future sales volumes.
Days on Market and Active Listings
The median days on market for active $1 million-plus listings stand at 76, which provides insight into the pace at which high-end properties are moving. With 16,996 active waterfront listings, including 652 new this week, buyers interested in waterfront properties should note the median asking price of $590,000.
What This Means for Buyers
For out-of-state buyers, the current numbers highlight a market experiencing a slowdown in new listings but with steady sales and active inventory levels. This could present a window of opportunity to explore price negotiations, particularly in the luxury and waterfront sectors.
Action for This Week: If you're considering a purchase in South Florida, review the data appendix for detailed insights into specific cities, price bands, and property types. With price reductions prevalent, it might be prudent to engage with a local real estate expert to identify listings where you can leverage these reductions effectively.
The data from this report is sourced from the MIAMI REALTORS® MLS, ensuring that the insights provided are based on verified, up-to-date market information. For further details, consult the official MIAMI REALTORS® MLS resources.
The week in numbers
All figures below are computed arithmetically from the MIAMI REALTORS® MLS feed for the week ending 2026-10-21 — 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 | 7,461 | 279 | $620,000 | 51 | 685 | $580,000 | 10.9 |
| Fort Lauderdale | 2,364 | 88 | $684,900 | 74 | 234 | $572,500 | 10.1 |
| Port St. Lucie | 2,000 | 75 | $425,000 | 60 | 349 | $400,000 | 5.7 |
| Miami Beach | 1,884 | 55 | $643,500 | 60 | 100 | $640,000 | 18.8 |
| West Palm Beach | 1,628 | 68 | $319,000 | 67 | 227 | $390,000 | 7.2 |
| Boca Raton | 1,623 | 81 | $567,500 | 56 | 316 | $703,500 | 5.1 |
| Hollywood | 1,499 | 43 | $479,000 | 58 | 124 | $415,000 | 12.1 |
| Delray Beach | 1,421 | 81 | $287,000 | 56 | 194 | $384,000 | 7.3 |
By price band
| Price band | Active listings | New this week |
|---|---|---|
| Under $500K | 26,122 | 1,012 |
| $500K – $1M | 12,766 | 568 |
| $1M – $2M | 4,631 | 183 |
| $2M – $5M | 3,231 | 118 |
| $5M+ | 1,789 | 68 |
By property type
| Type | Active | New (7d) | Median list |
|---|---|---|---|
| Single-family homes | 17,600 | 825 | $695,000 |
| Condos / townhouses | 28,736 | 1,049 | $363,000 |
Waterfront
16,996 active waterfront listings (652 new this week), median asking $590,000. 479 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.
