If you're shopping for a condo in Miami-Dade, the latest numbers give you room to negotiate. If you're selling one, the price you set matters a lot.

The county had 12.3 months of condo inventory in September, according to the latest monthly report from MIAMI REALTORS. That means it would take about a year to sell every condo on the market at the recent pace if no new listings came in. The group calls six to nine months balanced. Houses, at 5.1 months, are still a seller's market.

Prices are flat, sales are steady

Buyers closed on 909 condos in September, up from 904 a year earlier. The median price slipped to $417,090 from $420,000. Total condo sales volume rose 7.1% to $724 million.

Deals near the middle of the market picked up the most. Sales between $300,000 and $400,000 rose 14.5%, from 159 to 182.

Condos took a median 67 days to go under contract and 102 days to close. Sellers received a median 94% of their original list price, so many deals still involve a price cut along the way.

Cash still drives the condo market

Cash buyers made up 49.4% of condo sales, compared with 38.3% of all home sales in the county. Getting a loan can be harder for condos. Only 21 of the 2,397 condo buildings in Miami-Dade, Broward and Palm Beach counties are approved for FHA loans, the association says, citing the U.S. Department of Housing and Urban Development. It says the lack of FHA approvals is keeping the condo market from getting stronger.

Fannie Mae and Freddie Mac also ended a simpler "limited review" option for many condo loans on Aug. 3. Mortgage rates were 7.46% as of Oct. 13, the report says.

The top end keeps setting records

At the high end, Miami-Dade has already recorded 24 home sales of $30 million or more this year through September, counting houses and condos. That beats the 21 recorded in all of 2025. Gay Cororaton, the association's chief economist, said "upper-end buyers have remained active."

What owners and buyers should check

For condos, the building's finances can matter as much as the price. Associations with a milestone inspection due by Dec. 31, 2026, must finish their structural integrity reserve study by that same date, the state condo division says. Buyers can ask for those reports, the budget and any planned special assessments before signing.

For more on the market, see how Miami-Dade house prices rose to $692,000 in the same report, and what today's mortgage rates mean for a monthly budget.

Buying or selling in Miami-Dade? The Miami Lookout is founded by Joe Biscaha, a Miami real estate advisor with Compass.

High-rise towers in northern Brickell
Northern Brickell in 2010. Source