Miami Condo Market Slips Further in July 2025 as Sales Plunge

The Miami-Dade condominium market continued its downward slide in July 2025, highlighting the challenges facing sellers and the growing leverage of buyers. Total existing condo sales dropped a whopping 17.3% year-over-year, falling from 1,114 closings in July 2024 to 921 in July 2025. Meanwhile, condo inventory rose 31.34%, climbing from 9,775 to 12,838 active listings during the same period. The months of supply for existing condominiums now stands at 14.1 months, signaling a strong buyer’s market across most price points.

Local Economic Impact Drops by $43.86 Million

Beyond the raw sales numbers, the downturn in Miami’s housing market—especially condos—also had a significant impact on the broader local economy. According to the National Association of Realtors, each residential real estate transaction generates approximately $129,000 in local economic impact. This figure includes money spent on real estate commissions, mortgage lending, title services, inspections, appraisals, remodeling, furniture, and additional consumer spending associated with moving.

In total, 340 fewer homes (houses + condos) were sold in July 2025 compared to July 2024 (2,122 vs. 1,782 total transactions). Multiplying that drop by the estimated $129,000 in economic output per home yields a $43,860,000 decline in local economic impact—a significant hit to Miami’s real estate–related industries and small businesses.

This sharp decline underscores how a housing market slowdown doesn’t just affect buyers and sellers—it ripples through the entire local economy, touching contractors, movers, interior designers, lenders, and countless others whose livelihoods are tied to property transactions.

Buyers in Control, Sellers Under Pressure

With over a year’s worth of supply and weakening demand, buyers are firmly in the driver’s seat. The elevated inventory provides ample room to shop, negotiate, and secure concessions. Meanwhile, sellers—especially those listing older or overpriced condos—face intense competition and must price aggressively to stand out.

Glimmers of Optimism: Rate Cuts on the Horizon?

Despite the sobering sales and inventory numbers, there is renewed optimism that market conditions could improve soon. Analysts now project a high likelihood—roughly 88%—that the Federal Reserve will cut interest rates at its next meeting in September. If that cut materializes, it could bring down mortgage rates, boost buyer confidence, and help absorb some of the excess condo inventory across Miami-Dade.

Lower borrowing costs could reignite interest among first-time and move-up buyers alike, especially those who were previously sidelined by affordability concerns or stricter lending standards for certain buildings.

Bottom Line:

The Miami condo market in July 2025 showed signs of further deterioration, with double-digit sales declines, rising inventory, and a staggering $43.86 million drop in local economic activity. But with a likely Fed rate cut on the near horizon, the market could get a much-needed jolt in the months ahead—offering hope to both buyers and sellers navigating this shifting landscape.