South Florida Market Continues to Tighten as Buyers Return
South Florida’s housing market continued to strengthen in May 2026, with rising sales volume, tightening inventory, and steady single family price growth across the tri-county area. Condo conditions are also improving, with inventory continuing to decline from last year, although pricing remains mixed by county.
Single family closed sales in the tri-county area increased 7.0% year over year to 3,625 sales. The median sale price rose 1.5% to $660,000. Inventory declined to 4.6 months of supply, down from 6.1 months last year. The single family market has moved from balanced back toward a stronger seller’s market.
Closed condo sales increased 3.4% year over year to 3,024 sales, while the median sale price declined 1.4% to $345,000. Inventory improved to 10.5 months of supply, down from 12.4 months last year. Condo inventory remains elevated for the broader South Florida market, but the overall trend continues to move in the right direction.
South Florida Real Estate Statistics – May 2026
Single family inventory declined to 4.6 months of supply, down sharply from 6.1 months last year.
Broward County
Single family closed sales in Broward County increased 3.2% to 1,146 sales. Median prices rose 0.8% to $630,000, while inventory declined to 4.5 months of supply, down from 5.9 months last year. Broward’s single family market is tightening and now favors sellers more than it did earlier this year.
Condo sales declined 1.5% to 999 sales, while median prices were unchanged at $275,000. Inventory improved to 10.6 months of supply, down from 12.5 months last year. Broward condos remain buyer-friendly, but supply is clearly being absorbed.
Broward County Real Estate Statistics – May 2026
Broward condo inventory improved to 10.6 months of supply, down from 12.5 months last year.
Broward County includes the coastal communities of Fort Lauderdale, Pompano Beach, Lauderdale-by-the-Sea, Lighthouse Point, Hillsboro Beach, and Deerfield Beach.
Palm Beach County
Single family closed sales in Palm Beach County increased 7.7% to 1,437 sales. Median prices rose 5.5% to $675,000, while inventory declined to just 4.1 months of supply, down from 5.8 months last year. Palm Beach remains the tightest and strongest single family market in South Florida.
Condo sales increased 6.6% to 1,003 sales, while median prices rose 4.5% to $345,000. Inventory declined to 7.7 months of supply, down from 10.2 months last year. Palm Beach continues to lead the regional condo recovery.
Palm Beach County Real Estate Statistics – May 2026
Palm Beach condo inventory dropped to 7.7 months of supply, the strongest condo absorption in South Florida.
Miami-Dade County
Single family closed sales in Miami-Dade increased 10% to 1,042 sales, while median prices rose 0.7% to $680,000. Inventory declined to 5.2 months of supply, down from 6.6 months last year, bringing Miami-Dade closer to a seller’s market.
Condo sales increased 5.4% to 1,022 sales, while median prices declined 2.4% to $415,000. Inventory improved to 12.9 months of supply, down from 14.0 months last year. Miami-Dade still has the most condo inventory in South Florida, but the trend is improving.
Miami-Dade County Real Estate Statistics – May 2026
Miami-Dade condo inventory remains the highest in South Florida, but improved to 12.9 months from 14.0 months last year.
Summary
South Florida’s single family market continues to tighten as buyers absorb available inventory. Sales volume is up, prices are rising modestly, and months of supply have dropped below balanced levels in several markets.
The condo market remains uneven, but the broader trend is encouraging. Inventory is declining across the region, and Palm Beach County is showing the clearest signs of recovery with rising prices and stronger absorption.
As we move into the summer season, buyers will still find opportunities, especially in condos, but the window for maximum leverage may be narrowing. Sellers who price correctly and understand their local market can benefit from improving demand and tighter supply.
Source: Florida Realtors SunStats, May 2026.
