Jason Bishop Real Estate – Miami Homes & Condos

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A panoramic, cinematic balcony view from a high-floor Miami condo overlooking Biscayne Bay at sunrise. The balcony features a clear glass railing with brushed aluminum posts and a smooth, light-gray porcelain tile floor. A pair of contemporary outdoor lounge chairs and a small round side table with a textured stone top suggest a quiet place to evaluate real estate options. Soft pink and orange hues wash the sky, reflecting off the calm water and distant skyline. The camera is positioned at railing height, emphasizing the depth and openness of the view. Photographic realism and a serene, aspirational mood make it perfect for showcasing premium Miami condo living.

Miami Market

In-depth Miami condo reports, trends, and insights tailored for today’s buyers, sellers, and investors.

Miami Real Estate Market Overview

Single-Family Homes

Miami’s single-family home market ranges from dense urban neighborhoods to quieter suburban communities, with detached homes generally commanding a premium for land, privacy, and renovation potential. Demand tends to stay strongest for move-in-ready homes in well-located neighborhoods.

Condos

Condos dominate Miami’s coastline and downtown core, offering amenities, views, and low-maintenance living. Pricing and demand vary significantly by building, so HOA financial health, reserve funding, and insurance costs are just as important to evaluate as the unit itself.

Current Trends

Median Prices

Single-family: $680,000 median (May 2026). Condos: ~$410,000 median, down from a recent peak near $455,000. Prices vary widely by neighborhood and building — ask for a comp on your specific area.

Days on Market

Median time from listing to contract: ~55 days for single-family homes, ~83 days for condos. Well-priced, well-presented listings consistently beat these averages.

Mortgage Rates

30-year fixed rates have held in the low-to-mid 6% range, with MIAMI Realtors projecting an average near 6.0% for 2026. Check with a lender for your exact rate.

Condo Market

Condo sales are up 5.4% year-over-year. Cash buyers make up over half of condo closings. Only 21 of roughly 2,400 tri-county condo buildings are FHA-approved — check a building’s status before falling in love with a unit.

Months of Inventory

Single-family supply sits around 6.4 months — a balanced market, not strongly favoring buyers or sellers.

Source: MIAMI Association of Realtors® (May 2026 report); Freddie Mac PMMS. Updated monthly.

Monthly Market Update

Check back each month for the latest read on Miami’s housing and condo markets — new listings activity, pricing shifts, and what they mean for buyers and sellers.

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