New Listings and Inventory Movement

For the week ending October 14, South Florida saw 2,032 new listings, a significant decrease from the previous week's 2,931. Among these, 372 were listed at $1 million or more, and 176 crossed the $2 million mark. The active inventory has increased by 1% from last week, totaling 48,046 available properties with 9,514 in the $1M+ category. Notably, Esplanade at Tradition led the neighborhoods with 12 new listings.

Price Adjustments and Sales Activity

Price reductions are a notable trend this week, with 8,279 reductions recorded, including 1,309 for homes priced over $1 million. This could indicate sellers are adjusting their expectations to align with current market dynamics. Sales activity shows 612 homes closed in the last week, with 94 of these sales at $1 million or more. The median closed price over this period was $477,500.

Days on Market and Contract Insights

The median days on market for active listings priced at $1 million or more stands at 78. Currently, 10,376 homes are under contract, with 1,903 of these in the luxury $1M+ segment. These figures suggest a steady interest in higher-end properties, though the time taken to finalize sales remains considerable.

Waterfront Properties

South Florida's waterfront market continues to draw interest, with 16,791 active waterfront listings, including 680 new ones this week. The median asking price for these properties is $585,000. The allure of waterfront living remains strong, reflecting in the consistent volume of new listings.

What This Means for Out-of-State Buyers

For buyers observing from out of state, these figures suggest a dynamic market with a shift towards more price flexibility and a broad range of available inventory. The decrease in new listings compared to the previous week might indicate a temporary slowdown, but the increase in price reductions signals potential opportunities for negotiation.

Actionable Insight for This Week

If you are considering entering the South Florida market, this week could be a strategic time to explore properties with recent price reductions. Engage with a real estate agent experienced in South Florida's market nuances to help identify opportunities that align with your budget and lifestyle preferences.

Data sourced from the MIAMI REALTORS® MLS. For further details, consult the weekly data appendix attached below.

The week in numbers

All figures below are computed arithmetically from the MIAMI REALTORS® MLS feed for the week ending 2026-10-14 — 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 7,403 283 $620,000 53 658 $572,500 11.3
Fort Lauderdale 2,338 93 $672,450 76 237 $575,000 9.9
Port St. Lucie 1,998 111 $425,000 57 359 $400,000 5.6
Miami Beach 1,863 44 $633,000 60 116 $640,000 16.1
Boca Raton 1,622 87 $570,500 58 327 $700,000 5
West Palm Beach 1,612 80 $319,900 69 216 $412,500 7.5
Hollywood 1,495 60 $480,000 60 126 $440,000 11.9
Delray Beach 1,393 78 $289,999 59 181 $380,000 7.7

By price band

Price band Active listings New this week
Under $500K 25,901 1,043
$500K – $1M 12,630 595
$1M – $2M 4,606 188
$2M – $5M 3,158 115
$5M+ 1,750 55

By property type

Type Active New (7d) Median list
Single-family homes 17,386 929 $695,000
Condos / townhouses 28,487 983 $365,000

Waterfront

16,791 active waterfront listings (680 new this week), median asking $585,000. 463 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.