Home sales are up and some big names are moving in. What South Florida data says
Miami-Dade and Broward real estate had a second consecutive “robust month” in October, with growth in both condo and single-family sales in year-over-year comparisons, according to statistics released by the Miami Association of Realtors.
The growth was fueled in Miami-Dade by $1 million-and-up transactions, which increased nearly 20% in comparing October 2025 and 2024 sales.
South Florida is on pace to post the second-most $10 million-and-up home sales for a calendar year, according to the Realtors group. At its current selling pace, South Florida is projected to have 426 ultra-luxury sales by the end of the year. That would be just shy of the record 444 set in the pandemic home-buying craze of 2021.
The report comes after two high-profile sales in Coral Gables’ gated Gables Estates community this fall. One mansion was recently sold to pop star The Weeknd (real name: Abel Tesfaye) for nearly $55 million, according to The Wall Street Journal.
The other went to “Real Housewives of Miami” alum Nicole Martin and her attorney fiancé Anthony Lopez who spent $35 million for a mansion in Gables Estates in September, according to Robb Report.
In November, Centennial Bank closed a $34.6 million construction loan for a single private residence in that same neighborhood, South Florida Business Journal reported. The project was led by South Miami’s The Boschetti Group and Cesar Molina of Coral Gables’ CMA Homes.
MORE: The Weeknd just spent $54 million on a Miami mansion: report
“Market declines are fueled by debt, not cash. Miami is America’s No. 1 metro for all-cash sales,” said Eddie Blanco, Miami chairman of the board, in the report. “All-cash Miami sales rose once again year-over-year last month.
Broward’s hot condo markets included Miramar, Plantation and Davie, according to the real estate agents.
Miami-Dade’s hot condo markets include Kendall, Kendall Lakes and Hialeah.
Here’s a breakdown of costs and sales in the South Florida housing market in October 2025 compared to the same period a year ago:
What is the median sale price of a condo?
Miami-Dade: $400,000 in October, down from $420,000 in September, down from 415,000 a year ago.
Broward: $259,000 in October, down from $275,000 in September, down from $280,000 a year ago.
What is the median sales price of a single-family house?
Miami-Dade County: $682,000 in October, up from $665,000 in September, up from $670,750 a year ago.
Broward County: $611,250 in October, down from 626,500 in September, down from $615,000 a year ago.
How much did prices change from a year ago?
Miami-Dade: Up 1.7% for houses, down 3.6% for condos.
Broward: Down 0.6% for houses, down 7.5% for condos.
How many single-family houses sold?
Miami-Dade: 887 in October, up from 865 in September, up from 830 a year ago.
Broward: 1,037 in October, down from 1,048 in September, up from 1,001 a year ago.
What were total condo sales?
Miami-Dade: 887 in October, down from 904 in September, up from 830 year ago.
Broward: 974 in October, up from 973 in September, up from 881 a year ago.
What is the housing inventory in South Florida?
Miami-Dade: 6.5 months of houses, up from 5.2 months a year ago; 13.9 months of condos, up from 11 months a year ago.
Broward: 5.5 months of houses, up from 4.7 months a year ago; 11.7 months of condos, up from 9.2 months a year ago.
Note: A balanced market consists of six to nine months of inventory, with anything below benefiting sellers and anything above benefiting buyers.
