Residential sales were up and prices were down in December as the South Florida real estate market continues to favor buyers.

Sales of both condos and single-family homes were up in Miami-Dade and Broward counties last month compared to the previous December, according to data from the Miami Association of Realtors. Total sales in Miami-Dade rose by 5.9% compared to the previous year.

For the fourth consecutive month, Miami single-family home sales rose year-over-year. Compared to last December, single-family home sales were up by 3.7%, and existing condo sales were up by 7.9%.

In Broward County, total home sales rose 7.9% year-over-year, single-family home sales rose 10.6%, and condo sales increased by 5.2%.

Sophia Allen, the president of the Miami Association of Realtors’ Broward chapter, attributed the trends to lower mortgage rates and wealthy people moving to South Florida.

The data also showed that prices in both counties are down, as home prices have continued to correct following the pandemic-era home buying surge that caused prices in South Florida to skyrocket. Miami-Dade median single-family home and existing condo prices decreased year-over-year, both by just over 2%.

In Broward, median existing condo prices decreased by 9.3% compared to the previous December, and median single-family home prices decreased by just under 1% in the same period.

Miami-Dade’s available condo inventory was about 13 months in December. That means that it would take 13 months to sell all the inventory currently on the market, indicating a strong buyer’s market. The single-family home market in Miami-Dade is more balanced at around six months of supply.

$10M and up home sales hit near all-time high

According to the Miami Association of Realtors, $10 million and up home sales in South Florida nearly hit an all-time high last year.

In 2025, 361 homes over $10 million were sold in South Florida. The only year that saw more transactions in the $10 million and up category was the pandemic real estate buying spike in 2021, when 444 homes were sold for $10 million or more in South Florida.

In Miami-Dade County, $1 million and up sales of single-family homes and condos were up in December compared to the previous year. Condo sales of $1 million or more increased 2.45%, while single-family home sales in the same category were up 12%.

Higher-end homes in Broward County also sold well in December, with sales of single-family homes priced at $1 million or more up by 16%.

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