New condo listings, added requirements fuel buyer’s market

Written by Kelly Sanchez on March 4, 2026

The Miami-Dade condo market is leaning toward a buyer’s market and is expected to see a steady rise in inventory and motivated sellers in 2026.

A monthly market summary published by the Miami Association of Realtors shows a higher median and average sale price and more new listings and inventory (active listings) for townhouses and condos in Miami-Dade County in January 2026 than in January 2025. Median sale price was up 1.2% year-over-year and average sale price was up 10.5% year-over-year. New listings were up 10.4% year-over-year and inventory was up 4.2%.

“In terms of new properties on the market, we are continuing to see listings and continuing to see an uptick in listings of new listings onto the market for condos,” said Christina Pappas, president of the Keyes Company.

“Many of those listings that are coming into the market are listings in buildings that have the new requirements per legislation, and have gone through some sort of SIRS or reserve study and are motivating sellers to list quicker than we think they would have been motivated had these changes not been applied,” Ms. Pappas said. “So similar to how covid sped up people’s decision to move to Florida, we believe the changes in the condos have sped up people’s decisions to sell their units, and therefore we’re seeing an increase in listings and active inventory.”

She added that the Aventura in the Sunny Isles region had some of the highest inventory compared to other parts of the market the last time she checked.

Joanna Jimenez, a principal with the Opes Group at Compass, explained that there’s strong activity in the $1 million to $3 million range. The luxury market, which starts at about $3.4 million, and the ultra-luxury market, which starts at $10 million, also continue to grow, she said.

“That’s where we’re seeing the most serious end user demand,” Ms. Jimenez said. “Overall compared to last year, we are seeing that the condo sales have picked up. We have a lot more buyer inquiries, and we also have a lot more buyers purchasing than what we did last year, so overall, that’s very good.

She added that the condo market is experiencing three main buyer groups: tax-motivated relocations from other states, lifestyle-driven second home buyers or vacation buyers, and global wealth.

Ms. Jimenez said she expects a more positive outlook for the county’s market this year compared to last year given the new condo laws, including mandatory structural integrity reserve studies (SIRS) for buildings three stories or higher.

“We just came out of all these new laws that all these condo buildings had to adhere to,” Ms. Jimenez said. “Building owners or future owners now have a better idea of what their monthly HOA (home owners association) payment’s going to be. That gives consumer confidence, understanding it’s not going to double or triple from one year to the next, so we’re definitely seeing that it’s already picked up from last year, just in the last two months, and we’re expecting it to continue to have more condo transactions than what we did last year.”

Ms. Pappas shared that sentiment.

“So while I think … through 2026 you will still see a climb as those buildings stabilize, as those laws have been in effect for several years now, you will start to see a shift as insurance becomes more comfortable with what they’re insuring, and mortgage companies become more comfortable with what they’re purchasing and what their collateral is due to the new transparency of the laws,” she said.

“The laws are there to create new transparency so that everyone truly understands what’s occurring in the building, whether it’s from our financing partners or insurance companies and to the borrowers and buyers themselves,” Ms. Pappas said, “which then will shift and really create a renewed energy around our condo market.”

She said new development may bring resale pricing down.

“We’re heading into a cycle of renewed development into the marketplace,” she said. “It had slowed significantly during covid due to construction costs, all of the issues that we saw through covid, and you’re about to see many new developments be released into our marketplace. With that release of new inventory, there is always a potential push on pricing of the resale market, so we are going to potentially see a push on the resale pricing.”

More inventory, Ms. Pappas added, could mean more opportunities for buyers.

“While I do believe, with the new studies and everything being put into place, it’s a great thing for condos in the future, with the new development. As things get built and released into inventory, you’re going to have the push-pull of supply and demand, and you get this oversupply, and then you have to go out and find the demand for it,” she said.

“And so right now, we’re already at 13 months of supply, which is signifying we’re in a buyer’s market,” Ms. Pappas said. “And if more inventory is dumped into the system, you will see even bigger opportunities for buyers as more active inventory in months of supply will go up.”