Market update — October 30, 2026. A Miami apartment, a single-family home and an exceptional waterfront estate should not be approached with the same buying strategy. For an international buyer, identifying the right comparison is the first step towards a well-informed offer.
Houses and condos tell different stories
MIAMI REALTORS’ September 2026 release reports 12.3 months of existing condo supply in Miami-Dade, compared with 5.1 for single-family homes. Median prices were $417,090 and $692,000 respectively. Separately, the county recorded 24 residential sales at $30M or above through September, exceeding the 2025 full-year total of 21.
Choose the right negotiation benchmark
Our reading is that the buyer’s opportunity should be assessed property by property. A broad inventory figure is useful context, but it does not establish a discount for a specific address. Compare completed transactions, competing listings and the property’s condition before deciding what to offer.
A seller’s asking price is a starting point for discussion. The more useful question is how the home compares with realistic alternatives available to you. For sellers, that same exercise helps establish a price that can stand up to a buyer’s scrutiny.
For a condo, look beyond the apartment
When reviewing a condominium, ask for a clear picture of the association’s budget, reserves, insurance, planned work and any assessments. Establish which documents your attorney, inspector and lender need to review, and allow time for their questions to be answered. A beautifully renovated interior is only one part of the purchase.
If you plan to rent the property, verify the rules applicable to that address and your intended rental period before relying on projected income. Compare the ownership budget using documented expenses, rather than the purchase price alone.
Keep exceptional properties in their own category
A record sale can be an interesting headline without being a useful comparable. Waterfront position, land, privacy, views and the condition of the property all deserve individual attention. We prefer to explain an offer through relevant evidence rather than through a distant trophy transaction.
Build your Miami buying strategy
Promest Realty helps clients turn their priorities into a focused search and a property-specific negotiation. Learn more about buying real estate in Miami.
Source: MIAMI REALTORS + RWorld, September 2026 release, published October 16, 2026. County statistics do not describe every neighborhood or building; the existing-home sales series largely excludes new construction.
