Overview of New Listings

This week, the South Florida real estate market saw 2,036 new listings, a decrease from 2,788 in the previous week. Notably, the luxury segment continues to show strong activity with 382 new $1M+ listings and 173 new $2M+ listings. This data, sourced from the MIAMI REALTORS® MLS, provides a snapshot of the current supply entering the market.

Price Adjustments and Inventory

Significant price reductions were recorded, with 7,819 homes seeing a drop—1,266 of which are in the $1M+ category. Meanwhile, active inventory increased by 1.2% from the prior week, bringing the total to 49,244 active listings, including 9,784 $1M+ properties. Such adjustments may indicate sellers' willingness to negotiate, particularly in the higher-end market where properties are experiencing longer median days on market, currently at 73 days for $1M+ listings.

Market Activity

Currently, there are 10,077 homes under contract, with 1,889 of these being $1M+ properties. This level of activity reflects ongoing buyer interest across price points. Furthermore, 703 sales closed in the past week, including 124 in the $1M+ segment, highlighting continued transaction flow despite the reduction in new listings.

Neighborhood Highlights

Among the neighborhoods, Esplanade at Tradition leads with 13 new listings, followed by 1785-1795 CONDO INC with 7, and Lehigh Acres with 6. These areas may offer varied opportunities for buyers looking to enter different segments of the market.

Waterfront Properties

Waterfront listings remain a significant portion of the market, with 18,744 active listings, including 865 new this week. The median asking price for these desirable properties is $565,000, appealing to those seeking homes with scenic views.

What This Means for Out-of-State Buyers

For buyers observing from out of state, the current market conditions suggest a competitive environment, particularly in the luxury segment. With active inventory rising slightly and significant price reductions occurring, there may be opportunities to secure favorable deals, especially in areas with notable price adjustments.

Actionable Step for Buyers

The week in numbers

All figures below are computed arithmetically from the MIAMI REALTORS® MLS feed for the week ending 2026-10-28 — 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 7,546 278 $620,000 51 687 $570,000 11
Fort Lauderdale 2,416 107 $679,000 68 222 $573,750 10.9
Port St. Lucie 2,044 117 $425,000 59 338 $399,950 6
Miami Beach 1,920 75 $649,000 59 105 $550,000 18.3
Boca Raton 1,675 104 $575,000 52 301 $685,000 5.6
West Palm Beach 1,649 80 $320,000 61 208 $376,165 7.9
Hollywood 1,493 41 $475,000 57 115 $410,000 13
Delray Beach 1,444 69 $280,000 55 205 $360,000 7

By price band

Price band Active listings New this week
Under $500K 26,494 1,041
$500K – $1M 12,965 580
$1M – $2M 4,676 199
$2M – $5M 3,307 112
$5M+ 1,801 48

By property type

Type Active New (7d) Median list
Single-family homes 17,925 897 $690,000
Condos / townhouses 29,066 983 $362,250

Waterfront

18,744 active waterfront listings (865 new this week), median asking $565,000. 471 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.