New Listings and Market Availability
This week, the South Florida real estate market saw 1,950 new listings, a noticeable decrease from the previous week's 2,683, as reported by the MIAMI REALTORS® MLS. This reduction in new listings could suggest a tightening in market availability, a factor to consider for prospective buyers who might face increased competition for available homes.
Within the luxury segment, 382 new listings came on the market priced at $1 million and above, with 185 of these listed at $2 million and above. This indicates that while the overall number of new listings has decreased, there remains a healthy influx of high-value properties.
Price Adjustments and Market Dynamics
Price reductions were recorded on 7,464 properties this week, including 1,303 reductions in the $1 million-plus category. These adjustments may reflect sellers' responses to current market conditions and buyer sentiments. The price reductions could offer opportunities for buyers to negotiate better deals, especially in the high-end market.
The median closed price for homes over the past seven days stands at $500,000. Buyers should compare this median price to their budget and desired property features, as it serves as a benchmark for assessing market values.
Contract Activity and Sales
Currently, 9,719 homes are under contract, with 1,840 of these at $1 million or more. The number of homes under contract provides insight into buyer interest and market momentum, suggesting a steady demand across different price segments.
In the last week, 1,031 sales were closed, including 184 in the $1 million-plus category. These figures highlight a consistent level of transaction activity, which is crucial for understanding the pace of the market.
Inventory Insights
Active listings stand at 48,987, with 9,794 of these being $1 million-plus homes. The overall inventory has decreased slightly by 0.6% compared to the previous week, indicating a marginal contraction in available homes. For buyers, this might mean acting promptly to secure desirable properties, especially if inventory continues to decline.
Waterfront properties remain a significant aspect of the South Florida market, with 20,121 active listings and a median asking price of $550,000. This segment's availability can be particularly appealing to out-of-state buyers seeking the quintessential South Florida lifestyle.
Neighborhood Highlights
Notably, Lakefront Estates added the most new listings this week with 23 homes, followed by Palm Villas with 6. Prospective buyers should explore these neighborhoods, as they currently offer the most opportunities for new acquisitions.
What Out-of-State Buyers Should Consider This Week
For buyers watching from out of state, staying informed on the local market's nuances is crucial. Given the current trends, consider visiting the MIAMI REALTORS® MLS for the most up-to-date listings and market data. This week, focusing on areas with a surge in new listings, such as Lakefront Estates, might offer the best opportunities for acquiring properties that meet your criteria.
The appendix "The week in numbers" provides detailed data that can further assist in evaluating market conditions and trends across various cities, price bands, and property types.
The week in numbers
All figures below are computed arithmetically from the MIAMI REALTORS® MLS feed for the week ending 2026-11-04 — 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 | 7,485 | 275 | $625,000 | 49 | 655 | $580,000 | 11.4 |
| Fort Lauderdale | 2,419 | 87 | $675,000 | 67 | 228 | $547,500 | 10.6 |
| Port St. Lucie | 2,013 | 86 | $425,000 | 56 | 299 | $398,610 | 6.7 |
| Miami Beach | 1,915 | 72 | $650,000 | 55 | 97 | $470,000 | 19.7 |
| Boca Raton | 1,664 | 83 | $579,500 | 52 | 279 | $694,000 | 6 |
| West Palm Beach | 1,634 | 59 | $319,450 | 59 | 206 | $372,500 | 7.9 |
| Hollywood | 1,492 | 61 | $479,000 | 56 | 107 | $450,000 | 13.9 |
| Delray Beach | 1,459 | 75 | $289,000 | 51 | 201 | $360,000 | 7.3 |
By price band
| Price band | Active listings | New this week |
|---|---|---|
| Under $500K | 26,267 | 941 |
| $500K – $1M | 12,925 | 553 |
| $1M – $2M | 4,673 | 190 |
| $2M – $5M | 3,313 | 117 |
| $5M+ | 1,808 | 62 |
By property type
| Type | Active | New (7d) | Median list |
|---|---|---|---|
| Single-family homes | 17,831 | 793 | $695,000 |
| Condos / townhouses | 28,914 | 984 | $365,000 |
Waterfront
20,121 active waterfront listings (887 new this week), median asking $550,000. 468 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.
