What Is Your Miami Condo Really Worth in 2026?
Updated: Aug 24
Written by Salome Penailillo, Broker/Owner, who has closed condo transactions across Miami-Dade and Broward since 2013, Florida license 3275437
Most owners find out the real number too late. Here is what is actually happening to values right now, and why it matters whether you plan to sell or stay
The market shifted. Most owners have not caught up.
Miami-Dade closed 1,026 condo and townhouse sales in July 2026, up 11.4% from a year earlier. That sounds like a strong market.
The median price was $400,000, down 1.5%. Sellers received 93.1% of their original list price. More units are trading. They are just not trading at the prices owners expected.
The difference between a clean sale and a listing that sits is not luck. It comes down to three things that do not show up on Zillow or Redfin.
Why your neighbor's sale price does not tell you what you think it does
Two residences on the same floor of the same building can close at very different prices. Same square footage. Same finishes.
What moves the number is your building's absorption rate, its reserve funding status, and how your specific line and floor compare to the last 90 days of closed comps in that building.
We track all three. Most sellers go into their listing without knowing any of them.
The number almost nobody is watching
A Miami-Dade condo now takes a median of 86 days to go under contract. A year ago it was 65. That is three extra weeks of carrying costs before you even have a signed contract.
In the $1 million to $1.25 million range it is far worse. Median time to contract is 130 days, up from 66. That segment has essentially doubled its time on market in twelve months.
Inventory sits at 12 months of supply. That is still a buyer's market, though it has improved from 14.1 months a year ago.
Here is the part that surprises people. Million-dollar condo sales are actually up 7.2% year over year, while active $1 million-plus listings fell 13.1%. Buyers at the top are still here. They are slower, and they are more selective.
Why buyers became more selective
Florida's condo reserve requirements are part of that selectivity. The rules started with SB 4-D in 2022 and were amended by HB 913, effective July 2025. Buyers ask for milestone inspection and reserve study disclosure upfront now, and some walk when they do not like what they see.
The question most owners never ask before they list
What would my residence actually close for today, not what would I list it for?
Those are two different numbers. The gap between them is where time, carrying costs, and negotiation happen.
We run this analysis for every client before we take a listing. It tells us immediately whether a property is priced to sell, priced to sit, or underpriced in a way the seller does not realize.
What your valuation includes
An estimated current market value range for your residence, based on closed comps in your specific building
How your building is performing relative to the neighborhood right now
The three factors most likely to affect what you can achieve if you list in the next 90 days
A straight answer on whether now is the right time to move, or whether waiting makes more sense
PRIVATE VALUATION
Know your number before you need it.
Every residence has two numbers: what it lists for, and what it closes for. We prepare a
confidential analysis of both, specific to your building and your line.
Salome Penailillo, Broker/Owner
(786) 252-6307
Real Estate Sales International Inc.
2031 Harrison St, Hollywood, FL 33020
Florida Real Estate License 3275437
Serving Miami-Dade and Broward Counties. English and Spanish.
Market data: MIAMI Association of REALTORS, Miami-Dade County Townhouses and Condos report, July 2026.
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