In the week ending September 4, 2026, South Florida saw a total of 2,089 new listings enter the market. This represents a decrease from the previous week, which had 2,578 new listings. For those interested in luxury properties, there were 352 new listings priced at over $1 million and 149 new listings priced over $2 million.

In terms of pricing dynamics, a significant 9,178 price reductions were recorded, including 2,004 reductions on homes priced above $1 million. This suggests a potential adjustment in seller expectations, which could be an opportunity for buyers seeking value. The median closed price for the week was $497,025, providing a benchmark for current market values.

Active Inventory and Sales Activity

Active inventory in South Florida increased by 2.2% from last week, bringing the total to 53,256 listings. Of these, 10,418 are priced at over $1 million. The increase in inventory provides more options for buyers, but the market remains competitive. Homes under contract currently total 11,463, with 1,973 of these at the $1 million-plus price point.

Sales activity indicates that 990 transactions closed in the past week, including 171 sales in the $1 million-plus category. This shows a steady flow of transactions, highlighting active buyer engagement in the market.

Neighborhood Insights

Among neighborhoods, Lehigh Acres led with 12 new listings, followed by NORTHERN BLVD TRACK with 11, and PROGRESSO with 7 new listings. These areas are showing notable activity, and buyers might find unique opportunities in these localities.

What This Means for Out-of-State Buyers

For those watching from out of state, the South Florida market offers a range of opportunities, especially with the increase in inventory and significant number of price reductions. The market's pace is steady, with a median of 93 days on market for active $1 million-plus listings, giving buyers some time to consider their options without rushing decisions.

This week, out-of-state buyers should focus on monitoring price reductions and new listings, particularly in the areas with higher activity like Lehigh Acres and NORTHERN BLVD TRACK. Engaging with a local real estate agent can provide insights into these dynamics and help secure properties at favorable terms.

For further details and updates on the South Florida real estate market, refer to the MIAMI REALTORS® MLS for comprehensive data and analysis.