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.
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