Miami-Dade County Sees Significant Drop in Residential Sales and Dollar Volume for August

The latest Multiple Listing Service data collected by the Miami Association of Realtors reveals that the total dollar volume for residential sales in Miami-Dade, Broward, and Palm Beach counties decreased by 4 percent to $4.3 billion in August 2025 compared to $4.5 billion in August 2024.

Despite the overall drop in sales, there was a growth in single-family home prices across the tri-county region. In Miami-Dade County specifically, there was a decline of 11 percent in total sales, with 1,788 deals closed in August. Single-family home sales saw an 8 percent decrease with 964 closings, while condo sales plummeted by 13 percent with only 903 closings.

The median price for single-family homes in Miami-Dade County increased by 4.5 percent to $400,000, while the median price for condos fell by 4.6 percent to $265,000.

The slowdown in the real estate market can be attributed to various factors, including rising interest rates, a decrease in foreign buyers, and an oversupply of luxury condos. However, despite the declining sales and dollar volume, experts believe that the market is still healthy and stable.

"The market is still strong, but it's stabilizing. We're seeing a more balanced market between buyers and sellers," said Jorge L. Guerra Jr., chairman of the Miami Association of Realtors.

Originally reported by The Real https://therealdeal.com/miami/2025/09/24/south-florida-resi-sales-dollar-volume-drop-in-august-2025/