A buyer called me last week and said, "Agu, condo sales are up double digits. Did I wait too long?"
I get that call every time the headlines turn. Sales go up, people panic. But a rising sales number tells you demand is waking up. It doesn't tell you who has the power at the negotiating table. For that you need three other numbers, and right now they still favor the buyer.
What the July Numbers Actually Say
According to Miami Realtors, Miami-Dade closed 1,026 condo sales in July 2026, up 11.4% from a year earlier. The median condo price was about $400,000, down roughly 1.5%. Single-family homes went the other direction: a median near $685,000, up about 3.8%.
| Miami-Dade, July 2026 | Condos | Single-Family |
|---|---|---|
| Sales vs. last year | +11.4% | +5.6% |
| Median price | ~$400,000 | ~$685,000 |
| Months of supply | ~12 (buyer's market) | ~4.8 |
| Sale price vs. list | ~93% | ~96% |
| Days to contract | ~86 (+21 YoY) | ~45 |
| Cash share of sales | ~47.5% | ~21% |
Read that table the way I read it with clients. More buyers are showing up, yet condos are sitting 21 days longer than last year and closing about seven percent under list. That's not a seller's market. That's a market where buyers are coming back, but sellers are still the ones making concessions.
The Three Numbers I Watch Before I Say "Move"
1. Months of supply
Twelve months is deep buyer territory. The balanced zone is roughly five to seven. When condo supply starts sliding toward that range, the leverage I'm describing here fades fast. I walked through the mechanics in my buyer's market leverage playbook.
2. The sale-to-list gap
Condos at 93% of list means the average seller is giving up real money. If that gap tightens to 96 or 97, you've lost your window. Until then, I tell buyers to make offers with a number behind them, not an apology.
3. Days to contract
Eighty-six days and climbing means sellers are waiting. Patience is on your side, which is why I'd rather you tour ten buildings than rush into the first one that feels urgent.
Rising sales are the first sign of a turn. Falling discounts are the second. When you see both, the window is closing. Right now I only see the first one.
Why Nearly Half of Condo Buyers Are Paying Cash
About 47.5% of Miami-Dade condo sales in July were cash. That's a big reason sales are climbing: cash buyers skip the lender's condo review and close quickly, and many of them are the same relocation and international buyers I described in my post on corporate relocations and luxury demand.
If you're financing, don't let that intimidate you. You compete by being cleaner, not richer: a real pre-approval, a building you've already confirmed is financeable, and flexibility on closing dates. I break down that trade-off in my cash vs. financing guide.
Where the Turn Is Coming From
This didn't appear overnight. Inventory is down about 12% on condos from a year ago, and that's the early shape of what I covered in the condo market turnaround. Fewer listings plus more buyers is how a market flips. It's also why the single-family side already feels tight. If you want to see how far apart those two worlds have drifted, read my condo vs. single-family split breakdown.
How I'd Use This Window
- Pick the building before the unit. Reserves, special assessments, and insurance matter more than the finishes.
- Negotiate on the whole deal. Price, credits, closing date, and repairs are all levers.
- Keep your liquidity. The buyer who spends every dollar at closing is one assessment away from stress.
- Get insurance quotes before you offer. I'm licensed in both, so I run this with you up front.
Buy the home. Protect the family. Build the legacy. The window is still open, but I don't expect it to stay that way forever. If you're ready to make a move, I'm ready to help you do it right. Call me at (305) 791-0812 or visit HomeWithAgu.com. Let's build something real.
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Frequently Asked Questions
Are Miami condo sales rising while prices fall?
Yes. Per Miami Realtors data for July 2026, Miami-Dade condo sales rose 11.4% year over year to 1,026, while the median condo price slipped about 1.5% to roughly $400,000. Condo inventory still sat near 12 months of supply, which is a buyer's market. Rising sales with soft prices means demand is returning, but sellers have not regained control yet.
Have I missed the window to buy a Miami condo?
Not based on the July 2026 numbers. Condos averaged about 86 days to contract, roughly 21 days slower than a year earlier, and closed near 93% of list price. Those are signs buyers still hold leverage. The window narrows when supply drops toward six months and discounts shrink, so watch months of supply and the list-to-sale ratio rather than headlines.
Why are nearly half of Miami condo purchases cash?
Miami Realtors reported that about 47.5% of Miami-Dade condo sales in July 2026 were cash, versus about 21% for single-family homes. Cash buyers close faster and avoid condo-specific lending rules, so they set the pace in many buildings. Financed buyers can still win by getting pre-approved, confirming the building is financeable, and negotiating on inspection and closing terms.
Agu Ukaogo
South Florida Luxury Realtor & Wealth Protection Strategist. FL Real Estate License SL3588365 | Insurance NPN 22138920. One of the few advisors in Miami licensed in both real estate and insurance. HomeWithAgu.com · (305) 791-0812