MIAMI , Jan. 16, 2026 /PRNewswire/ — South Florida real estate recorded the second-most $10M & up home sales in its history in 2025 as Miami-Dade total transactions, single-family and condo sales increased year-over-year, according to December 2025 statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
In 2025, South Florida posted 361 $10M and up home sales, which only ranks behind the record 444 set in the pandemic home-buying craze of 2021. To put the 2025 number in perspective: consider Miami sold a $10M and up home about every day last year — 2X what it did in 2020.
“The surge in South Florida ultra luxury home sales illustrates our massive wealth migration,” MIAMI Chairman of the Board Alfredo Pujol said. “The wealthy, including billionaire Google co-founders Larry Page and Sergey Brin, are moving to Miami not just because of taxes. They are coming here because of our growing FinTech hub, weather, lifestyle, beaches and more. Miami is the city of the future.”
South Florida market fundamentals point to more growth in 2026:
- Rising Population: Florida gains a new taxpayer every two minutes. California loses a taxpayer every minute via the National Taxpayer Union Foundation
- Job Growth: Over the six-year period from August 2019 through August 2025, the Miami MSA saw a cumulative 9.5% increase in non-farm employment compared to 5.5% nationally.
- Rising Multifamily Permits: Miami ranks No. 7 in the U.S. in multifamily permits via RealPage. Miami had 10,695 multifamily units permitted year-ending August 2025, a year-over-year increase of 43.9%.
- Rising Wealth Migration: Out-of-state job movers typically earn more in the destination job in the Miami Metro Area than in-state job switchers, led by job movers from Washington ($190,656), and California ($186,004) in 2024 Q2 (latest data)
Miami Total Sales & $1M and Up Home Sales Rise
Total Miami-Dade sales increased 5.9% year-over-year in December 2025, from 1,764 to 1,869.
Miami-Dade single-family $1M and up home sales increased 12% year-over-year in December 2025, from 208 to 233. Miami-Dade $1M and up condo sales climbed 2.45% year-over-year in December, from 163 to 167.
The sales total doesn’t include South Florida’s new construction, pre-construction and condo conversion sales because they are largely not reported in the MLS. But MIAMI led the charge to publish two new construction reports.
International buyers purchased 49% of new South Florida construction, pre-construction and condo conversion sales over an 18-month period ending in July 2025, according to MIAMI REALTORS® first-ever New Construction Global Sales Report in collaboration with industry leaders.
Our second New Construction Global Sales Report, published in November 2025, showed an increase in global sales and buyers from 73 countries, according to the MIAMI REALTORS® November 2025 Global Sales Report in collaboration with industry leaders.
Miami-Dade Single-Family Home and Condo Sales Increase
Miami single-family home sales increased for the fourth consecutive month. Miami single-family home sales increased 3.74% year-over-year in December 2025, from 829 to 860.
Miami existing condo sales increased 7.91% year-over-year in December 2025, from 935 to 1,009. Miami condo sales have risen year-over-year in three of the last four months.
Sales for affordable Miami-Dade condos priced between $400,000 to $600,000 increased 2.97% year-over-year in …