Property values are cooling in Miami-Dade. New report hints at weakness to come
.JPG "The city of Miami’s new construction drove growth in Miami-Dade, but real estate values have cooled, according to a new report.")
Miami-Dade’s real estate market is cooling, with signs of a sharper slowdown to come, according to new numbers from the county property appraiser.
The annual market summary released Friday shows a slower growth rate in properties’ taxable values than this time a year ago — up 8.5% in 2025, compared to 10.7% growth in 2024. This is the first time Miami-Dade has recorded single-digit growth since the start of 2021, when the early months of the pandemic initially depressed real estate sales.
“The real estate market, after years of growth, appears to have stabilized,” said Property Appraiser Tomás Regalado. While he noted the pace of new construction was higher going into 2025, Regalado said: “I don’t believe that trend will continue.”
While the headline number of an 8.5% increase in countywide taxable values suggests decent growth in home prices, some details of the report hint at a buyer’s market to come. One countywide measure of changes in values that is calculated to more closely match market values showed growth of only 3.6% from 2024 to 2025. Last year it grew by 10%.
Some of the notable figures in the report include:
Developers and homebuilders created nearly $4 billion in new construction last year in the cities of Miami and Miami Beach alone, accounting for almost half of the new construction value in all of Miami-Dade.
For existing properties, no municipality saw the kind of surge in values than did tiny Indian Creek Village, the elite “Billionaire Bunker” island that’s home to presidential daughter Ivanka Trump and Amazon founder Jeff Bezos. Without new construction included, Indian Creek Village saw taxable values spike 19%. At the other end of that scale is Virginia Gardens, with an increase of just 1.4%.
The boomtown award goes to El Portal, population 1,900, which saw taxable values grow the most when combining existing and new construction. El Portal saw values climb 33%.
This story was originally published May 31, 2025 at 5:00 AM.