Market Pulse: South Florida Housing Market Week of Sep 14–20 — Sales Dip While Luxury Climbs
Market Pulse: South Florida Housing Market Week of Sep 14–20, Sales Dip While Luxury Climbs
Read Time: 7 minutes
By the Kohler Team
South Florida’s housing market entered the week of September 14–20 with a mixed signal: overall sales softened, but luxury demand remained remarkably strong.
At the same time, mortgage rates were hovering near 6.75% heading into the Federal Reserve’s September 16 meeting. That combination is creating a market that rewards preparation. Buyers are watching monthly payments carefully. Sellers are studying pricing strategy. Investors are looking beyond headline numbers to cash flow, insurance, and long-term demand.
Here is the latest August 2026 snapshot for Miami-Dade, Broward, and Palm Beach counties, along with practical takeaways for buyers, sellers, luxury clients, and investors.
The quick read
- Single-family median prices: $680,000 in Miami-Dade, $655,000 in Broward, and $699,900 in Palm Beach.
- Condo median prices: $410,000 in Miami-Dade, $260,000 in Broward, and $300,000 in Palm Beach.
- Single-family inventory: 3.8 to 5.1 months, depending on the county.
- Condo inventory: 6.9 to 12.8 months, giving buyers more negotiating room.
- Total sales: Down across portions of the market, with Broward reporting a sharper decline.
- Luxury: $10 million-plus activity remained exceptionally strong, especially in Miami-Dade and Palm Beach.
- Mortgage rates: Near 6.75% before the September 16 Fed meeting.
The market is not moving in one direction. It is moving in several directions at once.
August prices: a higher entry point for single-family buyers
| County | Single-Family Median | Condo Median |
|---|---|---|
| Miami-Dade | $680,000 | $410,000 |
| Broward | $655,000 | $260,000 |
| Palm Beach | $699,900 | $300,000 |
Palm Beach had the highest single-family median among the three counties, while Miami-Dade led the condo category. Broward continued to offer the lowest median condo price, although buyers must evaluate each building carefully because association fees, reserves, insurance, and upcoming assessments can significantly affect the true cost of ownership.
Price comparison graph
Single-Family Median Prices
Miami-Dade $680,000 ███████████████████
Broward $655,000 ██████████████████
Palm Beach $699,900 ████████████████████
Condo Median Prices
Miami-Dade $410,000 █████████████
Broward $260,000 ████████
Palm Beach $300,000 ██████████Buyer question: Are you comparing only the purchase price, or are you also comparing taxes, insurance, maintenance, association dues, and financing costs?
That broader calculation is essential in South Florida. A home with a lower list price can still produce a higher monthly payment if insurance or condominium fees are substantial.
Inventory: single-family homes remain tighter than condos
The standard months-of-supply framework used by the National Association of REALTORS® and local Realtor associations helps explain the market. Lower inventory generally gives sellers more leverage, while higher inventory gives buyers more choices and negotiating power.
| County | Single-Family Supply | Condo Supply |
|---|---|---|
| Miami-Dade | 5.1 months | 12.8 months |
| Broward | 4.2 months | 10.6 months |
| Palm Beach | 3.8 months | 6.9 months |
Inventory graph
Months of Supply
Miami-Dade SF 5.1 █████
Broward SF 4.2 ████
Palm Beach SF 3.8 ████
Miami-Dade Condo 12.8 █████████████
Broward Condo 10.6 ███████████
Palm Beach Condo 6.9 ███████The takeaway is clear: single-family inventory is relatively balanced to tight, while condominium buyers have more breathing room.
That does not mean every condo is a bargain. Buildings with strong reserves, responsible maintenance, updated milestone inspections, and manageable fees may command a premium over buildings with financial uncertainty. Face fears with facts: review the association budget, reserves, insurance, meeting minutes, assessments, and inspection documents before making an offer.
Sales dip, but the luxury market keeps climbing
Miami-Dade recorded 1,769 total residential sales in August, down approximately 1.1% year over year. Single-family sales declined about 3.1%, while condo sales increased approximately 1%.
Broward recorded 1,899 total sales, down about 4.5% year over year. Condo sales were a notable drag, declining approximately 9.3%.
Yet the luxury segment told a different story.
Miami-Dade recorded 194 sales at $10 million or more in August, putting the county on pace to challenge its prior annual record. Palm Beach County recorded 170 sales at $10 million or more through August, already exceeding the previous annual record of 169.
This is the market’s two-speed engine:
- Mainstream buyers are more sensitive to rates and monthly affordability.
- Luxury buyers may be less dependent on mortgage financing and are responding to limited inventory, privacy, lifestyle, and long-term wealth preservation.
- Sellers of well-positioned luxury properties can still attract serious attention, but only when the home, location, and pricing align.
Luxury does not mean “automatic.” Even at the high end, buyers expect exceptional design, resilient construction, privacy, technology, outdoor living, and a compelling value story.
Mortgage rates: why the Fed meeting matters to your plan
Mortgage rates were near 6.75% heading into the September 16 Federal Reserve meeting and stood at a one-year high by the time buyers entered the week.
A Federal Reserve decision does not automatically translate into an identical change in mortgage rates. Mortgage pricing is influenced by broader bond markets, inflation expectations, economic data, and investor confidence. Still, the meeting focused attention on affordability.
For example, on a $600,000 loan, even a modest rate change can influence your monthly principal and interest payment by hundreds of dollars over time.
Pro Tip: shop the payment, not just the rate
When comparing loan options, ask your lender to show:
- Principal and interest.
- Property taxes.
- Homeowners insurance.
- Flood insurance, if applicable.
- Condo or homeowners association dues.
- Mortgage insurance.
- Estimated closing costs.
- The effect of buying down the rate.
A strong buyer is not the person who guesses where rates are going. A strong buyer knows what payment fits the budget today and understands the refinance possibilities later.
What this means for buyers
The market may be slower in some segments, but desirable homes can still move quickly. Your advantage comes from preparation.
Your four-step buyer strategy
-
Get fully pre-approved.
A prequalification is helpful, but a detailed pre-approval gives you a stronger negotiating position. -
Separate needs from nice-to-haves.
Do you need a three-car garage, or would it simply be enjoyable? Would you trade square footage for a better school zone or shorter commute? -
Compare property types honestly.
A condo may offer location and amenities. A single-family home may provide privacy and fewer association restrictions. The right answer depends on your lifestyle and long-term plan. -
Use inspection and negotiation periods wisely.
A slower market does not eliminate competition, but it may create opportunities for credits, repairs, rate buydowns, or better terms.
What this means for sellers
Pricing remains the first marketing decision. In a market with higher borrowing costs, buyers are quick to dismiss homes that appear overpriced.
Before listing, consider:
- Recent comparable sales, not just active listings.
- The property’s insurance profile.
- Roof age and hurricane protection.
- Renovation quality and permits.
- Days on market for competing homes.
- Whether the property is move-in ready.
- How the home photographs and shows in natural light.
A polished presentation can help your property stand out, but presentation cannot fully overcome an unrealistic price. Your goal is to create urgency without leaving money on the table.
Programs to know in September 2026
Programs change, funding can be limited, and eligibility depends on income, purchase price, location, credit, occupancy, and lender participation. Always confirm current terms with an approved lender or the administering agency.
For first-time and moderate-income buyers
- FHA financing: FHA’s established framework may allow down payments as low as 3.5% for qualified borrowers, subject to credit, debt-to-income, mortgage insurance, and property requirements. Learn more through HUD’s FHA homebuyer resources.
- Florida Assist: Up to $10,000 in deferred, zero-percent assistance for eligible buyers using qualifying Florida Housing first mortgages.
- Florida Homeownership Loan Program: Up to $12,500, generally structured as a 3% amortizing second mortgage.
- Hometown Heroes: Up to $35,000 for eligible frontline and community workers, subject to program funding and requirements. Review current details through the Florida Housing Finance Corporation.
- Miami-Dade SHIP and Affordable Homeownership assistance: Eligible buyers in designated areas may qualify for assistance of up to $100,000, with specific income, location, occupancy, and repayment rules. Start with Miami-Dade County’s Affordable Homeownership Program.
- Palm Beach County assistance: Programs advertised at or near $100,000 may be available for qualifying buyers, depending on the current funding cycle and local requirements. Verify the amount, eligible municipalities, income limits, and repayment structure through Palm Beach County’s housing resources.
For investors and seasoned buyers
Investors should compare more than appreciation potential. Review:
- Net operating income and realistic vacancy.
- Insurance and property taxes.
- Association restrictions and rental limits.
- Property management costs.
- Renovation timelines.
- Financing structure and reserves.
- Exit strategy if the market changes.
Potential tools include conventional investment financing, portfolio loans, DSCR loans for qualifying rental properties, commercial financing for larger assets, and 1031 exchanges when legally appropriate. A CPA, attorney, and lender should evaluate the details before you proceed.
South Florida events and market education
Use local events to gather information, meet professionals, and jog your memory about questions you may not think to ask during a showing.
September calendar
- September 17: PROFILEmiami Pre-Construction Development Summit. The event focuses on new development, financing, construction costs, and market trends. Check the PROFILEmiami events page for the latest schedule and registration information.
- September 17: Greenacres networking happy hour.
- September 19: Miami homebuyer workshop.
- September 24: Fort Lauderdale networking social.
- September 24: Miramar purchase assistance workshop.
Event dates, venues, and availability can change, so confirm directly with the organizer before attending, especially for smaller community workshops and networking gatherings.
Read next: turn market data into your personal plan
The South Florida market is not simply hot or cold. It is selective.
Sales have dipped. Inventory is uneven. Mortgage rates are demanding attention. Meanwhile, luxury properties continue to attract high-level buyers, and well-positioned homes can still become a personal treasury and a foundation for generational wealth.
Whether you are buying your first condo in Broward, relocating to Weston or Miramar, exploring Palm Beach, purchasing a luxury estate, or evaluating an investment property, the next step is the same: build your plan around facts.
For personalized guidance across Miami-Dade, Broward, and Palm Beach counties, connect with Jerome Smith. The Kohler Team can help you evaluate the numbers, identify opportunities, and move forward with clarity.
Market data reflects the August 2026 snapshot provided for this report. Assistance programs, rates, inventory, event details, and eligibility requirements may change. Verify all financial and program information with the appropriate lender, county agency, or professional advisor.