Miami Report 2025 Q1 Update

Page 1


A Tale of Two Cities

1.1

Miami-Dade

Broward

Palm Beach

NEW CONSTRUCTION

2023 - 2024 Transactions by Price Range

Condos between $500,000 - $2,000,000

Total Active Single Family Homes By Category (A & B Houses) in Miami-Dade, Broward and Palm Beach Counties

Total ACtive listings AVG. PRICE

3,521 459 Q1-2024 Q1-2024 $18,000,000 $6,900,000 $21,000,000 $8,500,000

301 Q1-2025 2,266 Q1-2025

"B" Houses "A" Houses (Waterfront / Prime Locations) (Non-Waterfront / Prime Locations)

Total Active Single Family Homes By Category (C Houses) in Miami-Dade, Broward and Palm Beach Counties

Total ACtive listings

7,105 Q1-2024 13,985 Q1-2025 $850,000 $1,000,000

AVG. PRICE (Everything ELSE)

"C" Houses

MLS CONDO RESALES

Total Active Condo Units In Miami-Dade, Broward and Palm Beach Counties

1,995  Q1-2020 17,249  Q1-2021 6,849  Q1-2022 8,497  Q1-2023 18,704  Q1-2024

23,009  Q1-2025

April, 2025

Hundreds of South Florida condos now on secret mortgage blacklist

The number of local condos on the list, which is maintained by federally chartered mortgage finance corporation Fannie Mae, has more than doubled in the past two years.

The total number of condo buildings in the database in Miami-Dade, Broward and Palm Beach counties sits at 696 as of March.. That’s nearly half the 1,438 condo buildings that Fannie Mae lists as ineligible for its backing in all of Florida.

2024 Total Sales Transactions of Condos Sold Between $500,000 - $2M

11,927

676 Total Transactions Less than 10 Years Old

Total Condos Available for Sale Between $500,000 - $2M East of I-95 (No Daily Rentals)

Total Active Listings

CONDO CONVERSION

August, 2024

South Florida’s multifamily construction pipeline reaches record, as developers seize on south Miami-Dade

Multi-Family Units Delivered Total Units Multi-Family 34,934  23,863  58,797

Multi-Family Units Under Construction

Record Breaking Daily Population Growth

Q1 2025

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