Published October 1, 2026 in Market Update

Luxury buyers are still moving, but not every part of this market is moving the same way

By April Formo

Real estate, luxury

CNBC reported 194 sales at $10 million or more in Miami-Dade County through the first eight months of 2026, with 291 projected by year-end. That is a signal that serious buyers are still in the market. But that broad demand does not land evenly. In the three months ending July 31, 2026, the Real Estate Data Aggregator counted very different stories depending on which part of this coast you are in.

Sales are up in some places, down in others

The Real Estate Data Aggregator counted 377 homes sold in ZIP 29576 in the three months ending July 31, 2026. That is up 34.6% from the same period a year before. In ZIP 29585, 188 homes sold, up 24.5%. Those two parts of the market moved. In ZIP 29579, 484 homes sold, down 15.4%. In ZIP 29440, 99 homes sold, down 13.9%. More homes selling does not mean every address is in that group.

Prices did not all move the same direction either

The Real Estate Data Aggregator put the median sale price in ZIP 29585 at $548,700, up 4.1% from a year before. ZIP 29440 came in at $375,000, up 4.2%. Both held their ground. ZIP 29576 came in at $390,000, down 4.9%. ZIP 29579 landed at $367,950, down 5.7%. Sales volume went up in 29576 even as prices slipped. That tells you buyers were willing to transact, but on their terms.

How fast homes are moving

Every ZIP in this market is moving faster than it did a year ago. The Real Estate Data Aggregator shows the biggest shift in ZIP 29579, where the median dropped 31 days. ZIP 29585 moved 17 days faster. That is real progress, even in the ZIPs where fewer homes sold. Homes that are priced well are not sitting.

Supply is tighter almost everywhere

The Real Estate Data Aggregator shows months of supply fell sharply in three of the four ZIPs. ZIP 29576 dropped 3.1 months. ZIP 29585 dropped 2.9 months. ZIP 29579 dropped 0.9 months. ZIP 29440 was the exception: supply there rose 1.1 months, to 5.2 months. That is the one part of the market where buyers have more room to choose.

What buyers are doing at the national level

The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. Month over month in July, they rose 0.3%. Those are modest, steady gains. Mortgage rates are a different story. Realtor.com reported rates topped 7% for the first time since January 2025. Realtor.com also counted 20.8% of listings with price cuts in September, the highest share since October 2022. Nationally, buyers are being careful. That is the backdrop for what you are seeing locally.

CNBC reported that 82% of Miami condo sales valued at $1 million or more in 2025 were all-cash transactions. Cash buyers move on their own timeline. They are less sensitive to rate changes. That matters when you are thinking about who is likely to be on the other side of your transaction.

What this means if you have a home here

The Real Estate Data Aggregator counted 30.2% of homes in ZIP 29585 going under contract within two weeks of listing in the three months ending July 31, 2026. That share was up 9.3 points from a year before. In ZIP 29576, it was 27.3%, up 7.2 points. In ZIP 29579, it was 26%, down 2.4 points. In ZIP 29440, it was 19.8%, down 5.2 points. The first two ZIPs rewarded sellers who priced with confidence. The last two required more patience.

One address can read very differently from the ZIP code around it. Creek or marsh frontage, interior lots, community type: those details shift the number in ways a broad average does not show. If you want to know where your specific home sits in all of this, that is a conversation worth having.