Miami Overtakes New York City in Million-Dollar Home Listings

Miami has officially entered a new era of luxury real estate dominance. According to a December 2025 luxury housing market report from Realtor.com, the Miami metro area now has more homes listed at $1 million and above than New York City—a milestone that signals a major shift in the U.S. luxury housing landscape.

This data-driven turning point underscores Miami’s evolution from a seasonal luxury market into a year-round global hub for high-net-worth buyers.

Miami Surpasses New York City in $1M+ Listings

As of December 2025, Miami recorded 10,591 active listings priced at $1 million or more, edging past New York City, which had 10,176 seven-figure listings.

For years, New York City held a commanding lead in luxury housing inventory. Miami’s ascent reflects not just growth in listings, but a deeper structural change in where wealth is choosing to live, invest, and park capital.

Why Miami’s Luxury Market Keeps Growing

1. Year-Round Luxury Demand

Unlike many luxury markets that slow down toward the end of the year, Miami maintains consistent activity throughout all seasons. International buyers, second-home owners, and cash purchasers help sustain strong listing volume even during traditionally slower months.

2. Migration of High-Net-Worth Buyers

Realtor.com reports that Miami attracts more luxury buyer interest from the New York metro area than the next eight U.S. metros combined. This trend highlights ongoing domestic migration fueled by lifestyle preferences, tax considerations, and remote-work flexibility.

3. Global Appeal and International Capital

Miami’s position as a gateway city continues to attract buyers from Latin America, Europe, and beyond. For many international investors, Miami real estate functions as both a lifestyle asset and a long-term store of value.

What This Means for Miami Luxury Real Estate

According to economists and brokers cited by Realtor.com, Miami’s growing inventory of million-dollar homes is not a temporary spike—it reflects a permanent rebalancing of luxury housing supply.

Key implications include:

• Greater price resilience at the high end
• Increased competition among luxury sellers
• More diverse inventory across waterfront condos, branded residences, and single-family estates

Miami is no longer just competing with traditional luxury markets—it’s redefining them.

Miami’s Position as a National Luxury Leader

This milestone confirms what many buyers, developers, and investors have already recognized: Miami is now one of the most important luxury real estate markets in the United States.

With sustained demand, international reach, and expanding high-end inventory, Miami’s luxury market is positioned to remain a dominant force well beyond 2025.