The Week in Listings
For the week ending October 7, 2026, South Florida saw 2,169 new listings, a decline from the previous week's 2,575. Of these, 448 were priced at $1 million or more, with 217 surpassing the $2 million mark. This decrease in new inventory reflects a tightening market, with fewer choices available for potential buyers. The data, sourced from the MIAMI REALTORS® MLS, suggests a possible shift in seller strategy or seasonal fluctuation.
Luxury Market Dynamics
The luxury segment remains active, though not immune to the broader market trends. With 1,884 homes currently under contract in the $1 million-plus category, there is still significant interest at the high end. However, the 7,930 price reductions logged last week, including 1,283 on $1 million-plus properties, indicate that sellers might be adjusting expectations to meet market realities.
Sales and Pricing Insights
In the past week, 781 sales were closed, with 129 of these in the $1 million-plus bracket. The median closed price across the market was $475,000, providing a benchmark for both buyers and sellers to consider. Meanwhile, the median days on market for active $1 million-plus listings stands at 80, suggesting a measured pace for luxury transactions.
Inventory and Market Movement
The active inventory currently totals 47,403 listings, with 9,361 priced at $1 million or more. This marks a significant 18.7% drop in active inventory compared to the previous week, a factor that could impact buyer decision-making and competitive bidding.
Neighborhood Activity
Lehigh Acres leads with the most new listings at 12, followed by Olympus Condo Phase with 7, and Hollywood Hills with 6. Buyers focusing on these neighborhoods may find more options to consider, but should act swiftly given the overall inventory contraction.
Waterfront Properties
Waterfront homes continue to attract attention, with 739 new listings this week. These properties have a median asking price of $585,000, a detail that waterfront buyers should factor into their budgets.
What This Means for Out-of-State Buyers
Out-of-state buyers eyeing South Florida should be prepared for a competitive environment. With inventory decreasing, the need for quick decision-making becomes paramount. Buyers should closely monitor the MIAMI REALTORS® MLS for the latest updates on new listings and market adjustments.
Actionable Step for Buyers
For those considering entering the market this week, it's crucial to establish a clear budget and have financing pre-approvals ready. This preparation will enable you to make competitive offers promptly, especially in coveted neighborhoods or price ranges.
The week in numbers
All figures below are computed arithmetically from the MIAMI REALTORS® MLS feed for the week ending 2026-10-07 — 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 | 7,256 | 305 | $619,000 | 54 | 674 | $572,500 | 10.8 |
| Fort Lauderdale | 2,294 | 90 | $665,000 | 77 | 244 | $552,450 | 9.4 |
| Port St. Lucie | 1,947 | 88 | $429,000 | 59 | 372 | $400,000 | 5.2 |
| Miami Beach | 1,864 | 66 | $646,500 | 63 | 123 | $620,000 | 15.2 |
| Boca Raton | 1,597 | 95 | $564,000 | 61 | 332 | $693,500 | 4.8 |
| West Palm Beach | 1,576 | 82 | $315,000 | 68 | 224 | $387,500 | 7 |
| Hollywood | 1,493 | 72 | $479,000 | 60 | 132 | $465,500 | 11.3 |
| Delray Beach | 1,373 | 79 | $284,000 | 62 | 179 | $425,000 | 7.7 |
By price band
| Price band | Active listings | New this week |
|---|---|---|
| Under $500K | 25,576 | 1,056 |
| $500K – $1M | 12,465 | 636 |
| $1M – $2M | 4,527 | 219 |
| $2M – $5M | 3,116 | 131 |
| $5M+ | 1,718 | 79 |
By property type
| Type | Active | New (7d) | Median list |
|---|---|---|---|
| Single-family homes | 17,104 | 940 | $695,000 |
| Condos / townhouses | 28,149 | 1,095 | $360,000 |
Waterfront
16,503 active waterfront listings (739 new this week), median asking $585,000. 460 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.
