South Florida's condo market gets off to a mixed start in 2026
By Tom Hudson
February 18, 2026 at 10:59 AM EST
One warm, one cold and one holding even. That’s how the year began for the condo market in South Florida’s three most populous counties.
First, the chilliest market. Broward County condo price trends continue to lag Miami-Dade and Palm Beach counties. The median price of a condo and townhouse sold in Broward County fell 2.8% in January compared to a year earlier. Median sold prices for Broward condos have fallen for more than a year straight even as the pace of sales has shown some signs of picking up.
The number of sold condos in January was down 2.8% in Broward County after jumping more than 5% to end last year. The median price last month dropped to $250,000, its lowest since August, which is traditionally a slow month for real estate in South Florida. As prices fell, buyers had their pick of more condos in Broward last month. The number of units for sale increased after falling to more than a 12-month low in December.
Still, “the total is still significantly below pre-pandemic” inventory levels, noted the Miami Association of Realtors in a statement.
Second, the strongest market. Palm Beach County condo sales jumped 8.7% even as inventory increased to a seven-month high. The pace of sales in Palm Beach County has outstripped sales in its two southern neighboring counties in each of the last five months. The median condo price was $325,000 in January, only $5,000 less than what it was one year earlier.
One feature that could be helping the condo market in Palm Beach County is the prevalence of cash buyers. Two-thirds of condo sales close in cash, insulating the deal from mortgage rate fluctuations and financing delays. While that proportion of cash deals is lower compared to a year ago, it remains one of the highest rates of cash buyers in the country.
Third, holding steady. Sales of existing condos fell just one-tenth of one percent in Miami-Dade in January as the median price held steady from the previous month at $420,000. The sales activity represents the slowest year-over-year change in more than two years. Inventory increased in Miami-Dade, indicating “a buyer’s market,” according to the realtors group.
Seven-figure condo deals across the region are helping shape the data. “Million-dollar condominium sales accounted for a larger share of the market compared to one year ago, “ wrote Miami Realtors Association Chief Economist Gay Cororaton in an analysis of the monthly statistics.
READ MORE: Billionaires keep buying homes in Miami. What does that do to the housing market?
About one out of every six existing condos in Miami-Dade and Palm Beach counties sold in January closed with a purchase price of over $1 million.
“The million-dollar market is expected to remain vibrant in 2026 driven by favorable housing market fundamentals and economic and demographic forces,” predicted Cororaton.
READ MORE: Florida relied on immigration for almost all of its population growth last year
South Florida’s condo market has been buffeted by higher mortgage rates, new financial requirements for condo associations after the collapse of the Champlain Towers South building in Surfside and a dearth of condo buildings approved for favorable Federal Housing Administration loans. FHA loans tend to require smaller down payments for buyers, but carry certain requirements for condo associations such as meeting financial reserve thresholds.
Single Family Homes
South Florida’s single family home market has remained steady thanks to low inventories and decent demand. Median prices hit new highs in Miami-Dade and Palm Beach counties, with Palm Beach County’s median price of a home sold in January eclipsing that of a home in Miami-Dade. Broward’s median home price rebounded to a four-month high.
The number of existing homes on the market increased across all three counties, indicating a balanced or seller’s market, said the realtors group.
“Out-of-state migration from retirees and corporate and job relocation could accelerate as corporations and wealthier individuals (millionaires and billionaires) face higher corporate and income taxes in New York and California,” said Cororaton.
First, the chilliest market. Broward County condo price trends continue to lag Miami-Dade and Palm Beach counties. The median price of a condo and townhouse sold in Broward County fell 2.8% in January compared to a year earlier. Median sold prices for Broward condos have fallen for more than a year straight even as the pace of sales has shown some signs of picking up.
The number of sold condos in January was down 2.8% in Broward County after jumping more than 5% to end last year. The median price last month dropped to $250,000, its lowest since August, which is traditionally a slow month for real estate in South Florida. As prices fell, buyers had their pick of more condos in Broward last month. The number of units for sale increased after falling to more than a 12-month low in December.
Still, “the total is still significantly below pre-pandemic” inventory levels, noted the Miami Association of Realtors in a statement.
Second, the strongest market. Palm Beach County condo sales jumped 8.7% even as inventory increased to a seven-month high. The pace of sales in Palm Beach County has outstripped sales in its two southern neighboring counties in each of the last five months. The median condo price was $325,000 in January, only $5,000 less than what it was one year earlier.
One feature that could be helping the condo market in Palm Beach County is the prevalence of cash buyers. Two-thirds of condo sales close in cash, insulating the deal from mortgage rate fluctuations and financing delays. While that proportion of cash deals is lower compared to a year ago, it remains one of the highest rates of cash buyers in the country.
Third, holding steady. Sales of existing condos fell just one-tenth of one percent in Miami-Dade in January as the median price held steady from the previous month at $420,000. The sales activity represents the slowest year-over-year change in more than two years. Inventory increased in Miami-Dade, indicating “a buyer’s market,” according to the realtors group.
Seven-figure condo deals across the region are helping shape the data. “Million-dollar condominium sales accounted for a larger share of the market compared to one year ago, “ wrote Miami Realtors Association Chief Economist Gay Cororaton in an analysis of the monthly statistics.
READ MORE: Billionaires keep buying homes in Miami. What does that do to the housing market?
About one out of every six existing condos in Miami-Dade and Palm Beach counties sold in January closed with a purchase price of over $1 million.
“The million-dollar market is expected to remain vibrant in 2026 driven by favorable housing market fundamentals and economic and demographic forces,” predicted Cororaton.
READ MORE: Florida relied on immigration for almost all of its population growth last year
South Florida’s condo market has been buffeted by higher mortgage rates, new financial requirements for condo associations after the collapse of the Champlain Towers South building in Surfside and a dearth of condo buildings approved for favorable Federal Housing Administration loans. FHA loans tend to require smaller down payments for buyers, but carry certain requirements for condo associations such as meeting financial reserve thresholds.
Single Family Homes
South Florida’s single family home market has remained steady thanks to low inventories and decent demand. Median prices hit new highs in Miami-Dade and Palm Beach counties, with Palm Beach County’s median price of a home sold in January eclipsing that of a home in Miami-Dade. Broward’s median home price rebounded to a four-month high.
The number of existing homes on the market increased across all three counties, indicating a balanced or seller’s market, said the realtors group.
“Out-of-state migration from retirees and corporate and job relocation could accelerate as corporations and wealthier individuals (millionaires and billionaires) face higher corporate and income taxes in New York and California,” said Cororaton.