South Florida home sales accelerated in June, with affluent and cash buyers supplying much of the momentum even as mortgage rates remained elevated. Miami-Dade recorded 2,107 closings, up 14.3% from June 2025, while Broward recorded 2,347, up 21.1%, according to June 2026 MLS data released by MIAMI REALTORS + RWorld.
The strongest gains came at the top of the market. Sales at $1 million and above rose 29.1% in Miami-Dade and 35% in Broward. Across South Florida, million-dollar sales increased nearly 40% from a year earlier, and cash accounted for 61% of those sales during the first half of 2026.
That does not mean every segment is moving in the same direction. Single-family prices rose in both counties, while median condo prices slipped. Buyers are entering a market where luxury demand is strong, financing still matters for most households, and condo supply and lending rules can change the negotiating balance.
The numbers
- Miami-Dade total sales: 2,107, up 14.3% year over year and the county's strongest June since 2023.
- Broward total sales: 2,347, up 21.1%, extending the county's run of annual sales gains to four months.
- Single-family sales: up 16.8% in Miami-Dade and 26% in Broward.
- Condo sales: up 11.9% in Miami-Dade and 15.5% in Broward.
- Cash share: 38.1% of Miami-Dade closings and 37.1% of Broward closings, compared with roughly 25% nationally.
Cash was especially common in condos. It represented 48.5% of Miami-Dade existing-condo purchases and 53.4% of Broward condo purchases. That helps explain why a 30-year mortgage rate of about 6.49% in June did not stop the broader sales rebound: a large share of buyers did not need a mortgage.
Why buyers and sellers care
For sellers, the headline sales increase is encouraging, but property type and price tier remain crucial. Miami-Dade's median single-family price rose 3.7% to $695,000, and Broward's rose 2.4% to $645,000. Million-dollar properties also gained share, supported by cash buyers who can move without a financing contingency.
Condo sellers face a more complicated picture. Miami-Dade's median condo price fell 3.2% to $431,000, while Broward's declined 1.8% to $265,000. A buyer may therefore see more room to negotiate in the condo market even as the number of completed condo sales rises.
Inventory reinforces that split. Broward had 4.3 months of single-family supply in June, a level the local association characterizes as favoring sellers, but 10.1 months of existing-condo supply, which favors buyers. Miami-Dade single-family listings fell nearly 23% from a year earlier, while condo listings declined about 11.5% but remained well above single-family supply.
The caveat
The figures come from MLS-reported existing-home transactions. They do not capture much of South Florida's new-construction, pre-construction or condo-conversion market, so they are not a complete count of every residential deal. Monthly year-over-year gains also compare with one specific period and do not guarantee that the same pace will continue.
Industry explanations about wealth migration and international demand are plausible, but the data show transactions rather than each buyer's motive. Cash purchases can reflect foreign investment, domestic relocation, investors, downsizers or households using proceeds from another sale. Treating every cash deal as proof of one migration trend would overstate what the numbers establish.
Affordability also remains a constraint. A stronger high-end market can lift dollar volume without making a typical home easier to buy. Miami-Dade total residential dollar volume rose 36.4% to $2.4 billion in June, while Broward volume increased 30.2% to $1.6 billion, but a financed buyer still confronts high prices, insurance costs, taxes and borrowing rates.
What to watch next
July's reports will show whether the rebound is broadening or staying concentrated among cash and luxury buyers. Watch the share of million-dollar sales, condo days on market, months of supply and whether single-family inventory continues to fall.
Buyers should compare the exact neighborhood, building finances, insurance history and financing eligibility rather than rely on countywide averages. Sellers should use recent comparable sales from the same property type and price band. The June data point to a stronger South Florida market, but they also show two recoveries moving at different speeds.
