Miami Leads Major U.S. Cities as Strongest Buyer’s Market, Realtor.com Reports

Miami’s housing market has officially tipped in favor of buyers, according to the latest Realtor.com press release and its August 2025 Monthly Housing Market Trends Report. The national housing landscape reached a significant milestone last month with 5.0 months of supply—marking the first balanced summer market since 2016. But Miami stood out with a whopping 9.7 months of supply, the highest among the 50 largest U.S. metros. Other metros joining Miami in buyer’s market territory include Austin, Orlando, New York City, Jacksonville, Tampa, and Riverside, California.

This shift means buyers in Miami now hold greater negotiating power, with more inventory to choose from and a higher likelihood of price reductions. In fact, Miami’s inventory situation reflects deeper issues: homes are sitting on the market longer, and sellers increasingly appear reluctant to adjust their prices. In July, approximately 57 homes were delisted for every 100 new listings in Miami—far more than in any other metro. This surge in delistings shows that many sellers would rather pull their properties from the market than sell at discounted prices. It’s a clear signal that pricing expectations are out of sync with current demand.

Nationally, the August 2025 data reveals broader softening trends. Active listings rose 20.9% year-over-year, marking the fourth straight month with over one million active listings on Realtor.com. However, inventory remains 14.3% below pre-pandemic levels—an improvement from June’s 12.9% gap. New listings increased modestly, up 4.9% year-over-year, but have declined for four straight months on a month-over-month basis. Homes are also taking longer to sell, with a median time on market of 60 days—seven days longer than last year and five days longer than in July.

Price trends provide more evidence of cooling. The national median list price remained flat year-over-year at $429,990 but declined 2.2% month-over-month. Approximately 20.3% of all active listings in August had their prices reduced, and delistings jumped by 57% compared to a year earlier. These patterns are especially concentrated in southern markets like Florida, where inventory gains have been most substantial.

Even as the broader Miami market cools, the luxury sector remains insulated—thanks to the dominance of cash buyers. Realtor.com data reveals that more than half of all Miami homes priced over $1 million were purchased with cash in recent months. The breakdown is especially telling: 53.5% of homes between $1M–$5M, 54.1% of homes between $5M–$10M, and 58.6% of homes above $10M closed in all-cash transactions. In the ultra-luxury segment—homes priced above $2,000 per square foot—cash accounted for a staggering 83% of condo purchases and 79% of single-family home sales. These figures highlight that while the broader market is cooling, luxury sellers still retain leverage due to the strength of all-cash demand.

For buyers, the Miami market now offers more choice, more negotiating power, and less urgency. Inventory is high, homes are sitting longer, and sellers in many price brackets are growing increasingly flexible—either reducing prices or delisting altogether. This presents a rare opportunity for buyers to enter the market with leverage not seen in years. However, for sellers, particularly outside the luxury segment, the new environment may require more realistic pricing strategies. Those who refuse to adjust may find themselves among the growing number of delisted properties.

In short, Miami’s housing market isn’t just shifting—it’s leading the nation as the strongest buyer’s market, offering house hunters more leverage than any other major U.S. metro.

Understanding Real Estate Statuses: “Pending” vs. “Contingent” (and Why It Matters)

In real estate, when a home is listed as under contract, it means the seller has accepted an offer but the sale has not yet closed. At this stage, the property will typically be labeled as either contingent or pending. Both terms indicate the home is under contract, but they signal very different points in the transaction: contingent means certain conditions still need to be met, while pending means those conditions have been satisfied and the deal is moving toward closing. Knowing the difference between contingent and pending can help buyers and sellers better understand where a property stands in the sales process.

What Does “Pending” Mean?

In real estate lingo, when a home is listed as pending, it means:

• The seller has accepted a buyer’s offer.
• All contingencies—inspection, financing, appraisal, title, etc.—have been successfully satisfied.
• The transaction is deep into the escrow process, with closing the only next step.

Important details:

• It’s not officially sold yet, meaning there’s still a slight chance the deal could fall through.
• Common reasons deals collapse even at the pending stage include financing denial, inspection issues, low appraisals, title problems, or buyer’s change of heart.
• The property might remain listed for 30–60 days, although cash buyers may close sooner.

Can You Still Make an Offer?

• Usually, once a house hits pending, the seller stops accepting offers unless there’s a kick-out clause or they explicitly welcome backup offers.

What Does “Contingent” Mean?

A listing marked contingent means:

• The seller has accepted an offer, but one or more conditions (contingencies) must be satisfied before the sale can proceed.

Common Contingencies Include:

• Mortgage contingency: Gives the buyer time to secure financing.
• Inspection contingency: Allows backing out if serious issues surface during inspection.
• Appraisal contingency: Protects buyers if the home’s appraised value is below the purchase price.
• Title contingency: Lets buyers walk away if there are liens or title disputes.
• Home sale contingency: Allows the buyer time to sell their own home first.

Contingent Listing Sub-Types:

• Contingent: Continue to Show (CCS) – The seller continues showing the property and may accept offers.
• Contingent: No Show – Seller stops showing, but contingencies aren’t yet cleared.
• Contingent with or without Kick‑Out Clause – Kick‑out clause lets the seller stay open to better offers; without it, the buyer has more time.
• Contingent: Short Sale or Probate – Specialized scenarios involving lender approval or estate settlement.

Can You Make an Offer on a Contingent House?

Yes—especially in a CCS scenario—your offer might position you favorably if the first deal doesn’t close.

Contingent vs. Pending: Side-by-Side Comparison

FAQ: Contingent vs. Pending in Real Estate

Q: What does it mean when a home is under contract?

A home listed as under contract means the seller has accepted an offer, but the sale hasn’t closed yet. At this stage, the listing will usually be marked contingent or pending.

Q: What is the difference between contingent and pending?

Contingent means the sale depends on certain conditions being met, such as financing or inspection. Pending means those conditions are cleared and the home is moving toward closing.

Q: Can I make an offer on a contingent home?

Yes, sometimes. If the listing is marked “Contingent: Continue to Show” or has a kick-out clause, sellers may still accept backup offers.

Q: Can a pending sale still fall through?

Yes, though it’s less common. Pending sales can collapse due to financing issues, appraisal problems, or title disputes, but most make it to closing.

Miami Luxury Real Estate 2025: Cash Remains the Rule in an Ultra-High-End Market

In an article published yesterday, Realtor.com highlighted a striking reality in Miami’s upscale real estate market: cash continues to dominate luxury home transactions, especially at the highest price tiers. This pattern underscores a unique dynamic where financial flexibility—more than ever—drives market strength and seller confidence in the region.

Key Insights from Realtor.com:

• All-cash transactions are now the norm in Miami’s luxury segment:
  • Homes priced between $1M–$5M see 53.5% cash sales.
  • Properties above $10M are purchased with cash nearly 59% of the time.
• Ultra‑luxury condos and homes are overwhelmingly cash purchases:
  • 83% of condos priced over $2,000 per square foot sold for cash.
  • 79% of high-end single-family homes were cash transactions.
• Transaction volumes have soared compared to pre-pandemic levels:
  • Condo sales over $2,000/square foot increased 631%.
  • Single-family luxury sales are up a staggering 1,200%.
• Miami’s luxury listings are booming:
  • The metro area had nearly 50,000 active listings in July, with over 20% priced at $1M or more—far above the national average of 13.8%.
• Sellers are showing unusual patience:
  • Luxury homes linger longer—median days on market: 96.5 days, longer than in markets such as New York or Los Angeles.
  • Many sellers opt to delist rather than lower prices, maintaining confidence in Miami’s cash-rich buyer pool.
• The role of international and cash buyers is pivotal:
  • High-net-worth individuals from around the world look to Miami as a safe, desirable investment—favoring speed, convenience, and privacy over financing.

Market Implications & Context

These all‑cash trends reinforce Miami’s reputation as a global luxury real estate powerhouse—especially when viewed alongside broader market dynamics:

• Miami is among a handful of metros with year-over-year home price declines, yet the luxury segment remains resilient.
• Delistings remain elevated, reflecting strategic pricing confidence among sellers—even amid cooling demand. Miami had 27 delistings per 100 new listings in May—one of the highest rates nationwide.
• Gables Estates in Coral Gables recently overtook Beverly Hills as the most expensive U.S. neighborhood, highlighting Miami’s growing muscle in ultra‑luxury markets.

Urban Institute: South Florida Will Face $5.7 Billion in Annual Climate Damage by 2050

A recent Urban Institute analysis, using FEMA’s Future Risk Index, projects that extreme weather events could inflict more than $5.67 billion in annual damage by 2050 across Miami-Dade, Broward, and Palm Beach counties. These alarming projections highlight Southeast Florida’s increasing vulnerability to climate change—and signal serious consequences for residents, property markets, and the insurance industry.

County-Level Impact: What’s the Breakdown?

According to the Urban Institute’s county-level projections, Southeast Florida is set to bear some of the heaviest costs in the nation by mid-century:

• Broward County: approximately $1.95 billion annually
• Palm Beach County: approximately $1.88 billion annually
• Miami-Dade County: approximately $1.84 billion annually

Together, these counties could face more than $5.67 billion in annual climate damage by mid-century—driven by dense population, high-value coastal property, and growing exposure.

Insurance Costs Already Soaring

Florida already experiences some of the highest homeowners’ insurance costs in the United States. According to Bankrate.com, the average annual premium in the state is $5,400, which is nearly $3,100 more than the national average—making Florida the second most expensive state for home insurance.

Dual Threat for Miami-Dade Property Owners

Miami-Dade faces a double burden: rapidly escalating climate vulnerabilities and already stratospheric insurance costs. As projected damage increases, insurers may further retrench or raise premiums, worsening affordability—especially in flood-prone coastal neighborhoods. This dynamic threatens to suppress housing demand and pressure property values in one of the country’s most lucrative real estate markets.

What This Means for Southeast Florida: Beyond the Dollar Signs

1. Rising Sea Levels & Storm Surge Risks

Miami-Dade County’s strategy forecasts 10–17 inches of sea level rise by 2040, intensifying flood risk to infrastructure and low-lying communities.

2. Economic Strain from Extreme Heat

Today, heat and humidity already shave $10 billion annually off Miami’s economic output. By 2050, these losses could double as climate impacts worsen.

3. Ecosystem Threats: Mangroves & Coastal Buffers

Mangroves—critical for mitigating storm surge and sequestering carbon—are under threat, even as their northward migration underscores shifting climate zones. Loss of these natural barriers could heighten vulnerability to storm surge damage.

4. Vulnerable Communities & Climate Displacement

Low‑income and minority communities—often residing in flood-prone areas—face disproportionate risks. Rising costs and physical damage can lead to displacement, housing instability, and gentrification pressures in neighborhoods like Little Haiti.

5. Challenges for Insurance & Financial Resilience

With premiums already high and insurers increasingly cautious, homeowners—especially in high-risk areas—may face limited coverage options, spiking costs, or policy cancellations.

Why Policymakers and Real Estate Stakeholders Should Pay Attention

• Sheer Scale of Risk
  Over $5.67 billion/year in potential damage is a staggering figure—one that demands serious adaptation strategies.
• Equity Implications
  Without deliberate, inclusive planning, vulnerable populations will be on the frontlines of climate and financial wear.
• Adaptation Pays Dividends
  Preemptive investment in flood protection, smart infrastructure, and resilience initiatives can mitigate costs and protect real estate value.

Mortgage Rates Fall to 10-Month Low, Creating a Window of Opportunity for Buyers and Refinancers

Mortgage rates have hit a 10-month low, presenting a timely opportunity for both prospective homebuyers and homeowners looking to refinance. Yesterday, the average 30-year fixed mortgage rate dropped to 6.57%, the lowest since October 2024. This decline was largely driven by a weaker-than-expected July jobs report, which sparked investor demand for 10-year Treasury bonds—lowering yields and, in turn, pulling mortgage rates down.

For buyers, this drop in rates translates directly into increased purchasing power. According to Redfin, a homebuyer with a $3,000 monthly mortgage budget can now afford a home priced about $20,000 higher than what they could afford back in May, when rates peaked around 7.08%. The reduction may also offer much-needed relief in a housing market still dealing with high prices; the median U.S. home price was $435,300 in June. With the combination of lower borrowing costs and high listing prices, this shift provides rare leverage for motivated buyers.

Refinancers also stand to benefit. Homeowners with mortgages locked in at over 7% could save around $200 per month on a $300,000 loan by refinancing at today’s lower rates. This is especially compelling for those who bought or refinanced during last year’s rate spikes. Industry experts are encouraging homeowners to run the numbers and explore refinancing options while this rate window remains open.

The drop in mortgage rates is mainly tied to macroeconomic factors. The disappointing July jobs data made investors nervous about the strength of the labor market, prompting a flight to safety via government bonds. When Treasury yields fall, mortgage rates tend to follow. According to Mortgage News Daily, lenders are now pricing loans at the lower end of the range seen since October 2024, signaling a stable environment for locking in favorable terms.

Despite this reprieve, long-term affordability challenges persist. While rates are down, home prices remain historically high, and the Federal Reserve has not signaled any aggressive policy changes that would bring mortgage rates below 6% in the near term. Most economists expect rates to remain in the 6% to 7% range for the rest of 2025. That makes this current dip a potentially brief window of opportunity—particularly for those who are ready and able to act.

In summary, with mortgage rates now sitting at their lowest point in 10 months, buyers and refinancers alike have a rare chance to improve their financial footing. Whether it’s stretching your homebuying budget or cutting your monthly payments through a refinance, acting now could lock in meaningful savings before rates rebound. As always, consult with a trusted mortgage advisor and run the numbers to determine what’s right for your situation.

Coming Soon: Condo Hunter Mobile App Launching August 11th on iOS & Android

After more than 4.5 years of development, the highly anticipated Condo Hunter mobile app is officially set to launch on August 11, 2025. Designed specifically for South Florida’s fast-paced and complex condo market, Condo Hunter brings a new level of power, precision, and personalization to the home search experience.

Whether you’re a buyer, renter, investor, or simply curious about the market, Condo Hunter offers a robust, user-friendly platform packed with features that make navigating South Florida’s condo landscape easier than ever before.

Below is a detailed look at the features that make Condo Hunter the most advanced mobile app of its kind:

Advanced Condo Search Engine

Condo Hunter’s property search tool offers one of the most comprehensive and flexible search experiences in the market. Users can search by:

• Multiple buildings, neighborhoods, zip codes, MLS numbers, or specific addresses
• Custom filters including price range, number of bedrooms/bathrooms, square footage, furnished/unfurnished, unit view (e.g., ocean, bay, city), waterfront type, flooring type, amenities, and number of parking spaces

This level of detail allows users to pinpoint exactly what they want and filter out what they don’t — no more wasted time scrolling through irrelevant listings.

Virtual Reality Lounge

The app features a dedicated Virtual Reality Lounge, where users can explore luxury condo units through high-quality, immersive virtual tours. This feature is especially valuable for out-of-town buyers, providing a convenient way to view multiple properties without needing to step foot inside them — all from your phone.

️ Database of 450+ Condo Buildings

The app provides rich data on over 450 condo buildings across South Florida, including:

• Available, pending, and closed listings for both sales and rentals
• Floor plans, building reviews, market stats, media galleries, and Walk Scores

Whether you’re researching a building before making an offer or just curious about price trends, this centralized resource is a major time-saver.

Insights for Over 20 South Florida Neighborhoods

Condo Hunter goes beyond buildings — it covers 24 of South Florida’s most prominent neighborhoods, offering:

• Listings (active, pending, closed)
• Neighborhood stats, market trends, reviews, and Walk Scores

Whether you’re comparing Brickell to Edgewater or Sunny Isles to South Beach, you’ll have side-by-side context at your fingertips.

️ Preconstruction Hub with Downloadable Marketing Materials

For those interested in new developments, Condo Hunter offers a dedicated Preconstruction Condo Hub, which includes:

• Active sales listings
• Floor plans and site plan
• A Dropbox-style download system that allows users to save and share fact sheets, brochures, pricing sheets, and more

This makes Condo Hunter an essential tool for buyers and agents seeking access to the latest inventory and marketing collateral for preconstruction condos.

️ Saved Searches + Real-Time Alerts

Stay ahead of the market with the ability to save custom property searches and receive push notifications and email alerts whenever matching listings hit the market or change status. This feature is especially powerful for users tracking high-demand buildings or neighborhoods.

Condo Rankings

Condo Hunter introduces a first-of-its-kind Condo Rankings system — a proprietary, data-driven tool that provides an unbiased, quantitative evaluation of condo buildings. The rankings are based on a six-point framework, helping users compare buildings based on objective criteria, not just marketing hype.

❤️ Favoriting + “Tribe Favs”

Users can easily favorite properties, buildings, and neighborhoods, making it easy to track top choices. Plus, a unique feature called “Tribe Favs” shows what others in the Condo Hunter community are favoriting — giving users real-time insight into what’s trending or in demand.

News & Video Content

The app also includes an integrated news feed, with articles and videos covering:

• New development launches
• Market trends and analysis
• Real estate tips and commentary
• Neighborhood spotlights and more

Stay informed and empowered as a buyer, renter, or investor — all without leaving the app.

Final Thoughts

The launch of Condo Hunter will mark a new era in the way people search for condos in South Florida. With its rich data, intelligent features, and user-first design, the app was built to save time, deliver clarity, and empower smart decisions in a market that’s constantly evolving.

Whether you’re looking to buy, rent, invest, or just keep tabs on the market, Condo Hunter puts the entire South Florida condo scene in the palm of your hand.

Available August 11th in the App Store and Google Play.

Demolition Underway at Future Site of 888 Brickell by Dolce & Gabbana

A major milestone has been reached for 888 Brickell by Dolce & Gabbana, one of Miami’s most anticipated ultra-luxury condo developments. Demolition has officially begun at 888 Brickell Avenue, where the existing building—now fully wrapped and prepped for teardown—will soon make way for what is set to become the tallest residential tower in Brickell. The start of demolition signals real momentum for this high-profile project, which has already generated significant buzz for its fashion-forward branding, sky-high amenities, and record-setting pricing.

888 Brickell by Dolce & Gabbana is being developed by JDS Development Group, the New York–based firm behind other prominent South Florida ventures like Monad Terrace in Miami Beach. The tower will rise 1,049 feet and span 90 stories, establishing itself as a defining feature of the Brickell skyline. In a rare collaboration between high fashion and real estate, the project will be the first residential tower in the world fully branded and designed by Italian fashion house Dolce & Gabbana. The interiors, furnishings, and aesthetic direction of the residences and common spaces are being curated by the fashion label, infusing the building with signature opulence and craftsmanship.

Architecture for 888 Brickell is being led by Miami-based Sieger Suarez Architects, working alongside Studio Sofield, known for its ultra-luxury designs including Manhattan’s 111 West 57th Street. The tower will offer 259 branded residences, along with a members-only club, full-service spa, gourmet restaurants, and an expansive pool deck with cabanas and ocean views. Units range from one to four bedrooms, with prices starting at $2.2 million and the 3-story, crown-jewel penthouse asking $88 million.

With demolition now underway, 888 Brickell by Dolce & Gabbana is one step closer to transforming this iconic stretch of Brickell Avenue. As vertical construction approaches, the tower promises to raise the bar for luxury living in Miami and establish a new benchmark for branded residential real estate.

Miami Condo Market Slump Worsens as Sales Drop and Inventory Surges

The latest condo market statistics for Miami-Dade County, released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS), reflect a clear shift in market dynamics toward buyers. In June 2025, total existing condominium sales fell 12.9% year-over-year, dropping from 1,085 closed transactions in June 2024 to 945 last month. This marks a continued slowdown in demand as elevated mortgage rates, increased insurance costs, and tighter lending standards for certain buildings weigh on buyer activity.

At the same time, inventory continues to climb at a rapid pace. Miami-Dade condo listings surged 36.07% year-over-year, rising from 9,588 active listings in June 2024 to 13,046 in June 2025. With supply outpacing demand, the months of inventory for existing condos now sits at 14.1 months—well above the 6-to-9-month range typically considered a balanced market. The elevated inventory level gives buyers more options and greater leverage during negotiations, particularly in the mid-range and resale segments of the market.

While the surge in supply may present challenges for sellers, it also opens up opportunities for buyers who have been sitting on the sidelines. Units that are competitively priced, staged well, and located in buildings with healthy financials and flexible financing options are still attracting interest. However, sellers who fail to adjust to today’s more competitive landscape risk extended days on market and increased price reductions.

Overall, the June 2025 data underscores a notable turning point for the Miami condo market. With over 13,000 condos listed for sale and over a year’s worth of supply, the power has clearly shifted to buyers. Sellers looking to stand out must be strategic in pricing and presentation, while buyers now have a rare window to be selective, negotiate favorable terms, and find long-term value in a high-supply environment.

Jewelry Brand Ildico Buys Corner Retail Gem in Miami Design District for $35M

A prime retail property in the heart of the Miami Design District has changed hands in a major off-market transaction. The two-story commercial building located at 3800 NE 2nd Avenue sold for $35 million, reflecting the continued strength and desirability of Miami’s luxury retail corridor. The buyer, Beverly Hills-based jeweler Ildico, acquired the property through an entity tied to its CFO, Mikhail Cohen. The deal represents a significant expansion for the high-end jewelry brand as it plants deeper roots in the South Florida market.

Built in 1926, the building spans 9,445 square feet and is currently home to luxury retail tenants including Listone Giordano, L’Atellier Paris Haute Design, and CNCPTS Miami. The $35 million purchase price equates to approximately $3,701 per square foot, underscoring the premium investors are willing to pay for flagship-quality real estate in the Design District. The sellers—veteran Miami investors Sam Herzberg, David Herzberg, and Richard Do—originally purchased the building in 2015 for $11.4 million, making this transaction a 208% increase in value over a ten-year period.

This transaction further solidifies the Miami Design District’s status as one of the nation’s top-tier luxury retail destinations. Home to internationally renowned brands like Louis Vuitton, Gucci, Saint Laurent, and Hermès, the neighborhood has been strategically transformed by development firms such as Dacra, Brookfield, and L Catterton. As demand for retail space in the district continues to climb, so do prices—both in terms of lease rates and sale values.

The deal was brokered by Joe Fernandez, Tony Arellano, and Devlin Marinoff of DWNTWN Realty Advisors, who have facilitated more than 40 deals in the Design District over the past 15 years. Their deep understanding of the area’s market dynamics played a key role in bringing the off-market deal to fruition.

Located at the intersection of NE 2nd Avenue and NE 38th Street, the 3800 NE 2nd Avenue property sits just one block from Palm Court and within walking distance to the district’s most trafficked luxury boutiques and art installations. The building’s strategic corner location and historic character further elevate its value in a district known for architecturally significant properties and experiential retail environments.

This sale also comes amid a broader wave of investment activity in the area. Just blocks away, plans have been filed for a 20-story residential and retail tower, while nearby developments such as Cassi—a $125 million luxury apartment and retail project—signal ongoing momentum in the district’s evolution.

With this acquisition, Ildico joins a growing list of private and institutional investors targeting the Miami Design District for long-term positioning. As retail trends continue to favor experiential, luxury-driven environments, properties like 3800 NE 2nd Avenue are proving to be some of the most valuable and resilient assets in Miami’s commercial landscape.