> ## Content Index > Fetch the complete content index at: https://www.destination.living/llms.txt > Use this file to discover other available public pages before exploring further. # Miami's Market Just Hit a Four-Year High — Here's What's Driving It - URL: https://www.destination.living/miamis-market-just-hit-a-four-year-high-heres-whats-driving-it/ - Published: 2026-07-20T14:23:57.000Z - Updated: 2026-07-20T14:23:57.000Z - Description: Miami's luxury market just posted its strongest quarter in years — single-family sales up 37% on the Beaches, Coral Gables volume nearly doubled, and inventory at a three-year low. Here's what's driving the surge, which neighborhoods are outperforming, and what it means for buyers and sellers. - Author: Laurie Savino 2Q 2026 Miami Beaches & Miami Coastal Mainland Market Report Miami's luxury market is on fire this quarter. Single-family sales in the Beaches hit a four-year high. Coral Gables single-family volume nearly doubled. And the mainland just posted its strongest quarter since early 2022. Here's what's actually happening — and what it means if you're buying, selling, or just watching from the sidelines. ![](https://storage.ghost.io/c/d3/54/d3540774-f79c-477f-86bf-aae0c1979a84/content/images/2026/07/the-corcoran-report_miami_2q2026-r4-2-2-1.jpg) **The Big Picture: Two Very Different Stories** ![](https://storage.ghost.io/c/d3/54/d3540774-f79c-477f-86bf-aae0c1979a84/content/images/2026/07/the-corcoran-report_miami_2q2026-r4-11.jpg) Miami's market splits into two zones, and they're not moving the same way. **Miami Beaches** (Sunny Isles Beach, Bal Harbour, Bay Harbor Islands, Surfside, Miami Beach, Fisher Island, and Key Biscayne) saw single-family sales climb 37% year over year to 129 closings — the highest level in four years. Condo closings rose 15% to 808 sales, the best quarter since mid-2024. **Miami Coastal Mainland** (Aventura, Miami Shores, Upper East Side, Edgewater, Downtown Miami, Brickell, Coral Gables, and Coconut Grove) posted its fifth straight quarter of single-family growth, up 29% to 298 closings — the most since Q1 2022\. Condo sales rose 18% to 927 closings. Translation: buyers are active everywhere, but the money is chasing single-family homes hardest. ## Home Prices Are Surging — Condos Are Holding Steady On the Beaches, single-family pricing jumped hard. Median price rose 77% to $4.85M, and average price climbed 35% to $8.26M. Sales over $5M more than doubled compared to last year, and sales over $10M nearly tripled. Condos told a different story. Median price actually slipped 4% to $630K as more affordable units under $500K reclaimed market share — but average price still rose 6% to $1.68M, powered by a nearly 30% jump in sales over $5M. On the mainland, single-family median price hit a record $2.29M, up 15%. Condo pricing softened slightly, with median price down 5% to $590K. The takeaway: the top of the market is getting hotter, while entry-level condo pricing is giving buyers a little breathing room. ## Inventory Keeps Shrinking Across both regions, listings are drying up. Beaches single-family inventory fell 28% year over year to a three-year second-quarter low of 303 homes. Beaches condo inventory dropped 17% to 3,548 units. On the mainland, single-family inventory fell 22% and condo inventory dropped 10%. Fewer homes on the market, more buyers competing for them — that combination is exactly why prices keep climbing at the top end. **Neighborhoods to Watch** ![](https://storage.ghost.io/c/d3/54/d3540774-f79c-477f-86bf-aae0c1979a84/content/images/2026/07/the-corcoran-report_miami_2q2026-r4_Part7_Page_1.jpg) ## The Headline Sales - **56 Bal Bay Drive, Bal Harbour** — sold for $43M. The seller bought it in 2022 for $15.4M and fully renovated. - **625 Reinante Avenue, Coral Gables** — sold for $47M ($5,863 per square foot), the mainland's top single-family sale of the quarter. - **Palazzo Del Sol, Fisher Island** — residence 7085 closed for $28M ($3,670/sq ft). - **The Surf Club** — residence N-721 sold for $27.3M, the highest price per square foot of the quarter at $5,134/sq ft. - **One Park Grove, Coconut Grove** — residence 18AB closed for $16.74M ($3,498/sq ft), the mainland's top condo sale. ![](https://storage.ghost.io/c/d3/54/d3540774-f79c-477f-86bf-aae0c1979a84/content/images/2026/07/the-corcoran-report_miami_2q2026-r4_Part5_Page_2.jpg) ![](https://storage.ghost.io/c/d3/54/d3540774-f79c-477f-86bf-aae0c1979a84/content/images/2026/07/the-corcoran-report_miami_2q2026-r4_Part5_Page_1.jpg) **Thinking About Buying in Miami?** Miami is a different market with different rules — from building financials to flood zones to which blocks are quietly outperforming the rest. If you're considering a purchase, I work with a trusted network of Miami-based agents who know these buildings and neighborhoods inside and out. Reach out, and I'll connect you with the right partner to match your needs — whether that's a Fisher Island condo, a Coral Gables single-family, or something in between. ## Frequently Asked Questions **Is now a good time to buy in Miami?** Condos under $500K currently offer the best value window, as median condo pricing softened slightly this quarter. Single-family homes are more competitive, with inventory at a three-year low and prices rising sharply. **Which Miami neighborhoods are seeing the biggest price gains?** Coral Gables led the mainland with single-family sales volume up 74% quarter over quarter. On the Beaches, Fisher Island and Surfside posted the largest price gains in the ultra-luxury segment. **Are condo prices going up in Miami?** Condo pricing is mixed. Median prices softened slightly as more affordable units gained market share, but average prices rose due to strong activity in sales over $5M. **Want the full data?** [Download the complete 2Q 2026 Corcoran Report →](#upload-pdf-as-ghost-file-card) [the-corcoran-report\_miami\_2q2026-r4 (1)the-corcoran-report\_miami\_2q2026-r4 (1).pdf16 MBdownload-circle](https://www.destination.living/content/files/2026/07/the-corcoran-report%5Fmiami%5F2q2026-r4--1-.pdf "Download")