Miami Housing Supply Shrinks as Prices Stay Above National Average

As someone deeply involved in the Miami real estate scene, I’m seeing firsthand how our local housing supply continues to tighten. Active home listings in Miami have dropped 15% compared to last year, and new listings are down 1%. Even as the median list price softened slightly—down 2% to $490,000—it remains 15.4% above the national median. Buyers here are taking their time, with homes spending an average of 85 days on the market, noticeably longer than the 60-day national benchmark. Navigating these shifts takes experience and a nuanced understanding of our competitive market—skills I’ve honed through years of helping clients make confident decisions in Miami’s ever-evolving landscape.