Miami-Dade Is on Pace to Shatter Its Record for $10 Million-Plus Home Sales
Eight months into 2026, the county had already passed last year's total for $10 million-and-up sales, even as the broader market cooled slightly.
Miami-Dade recorded 194 home sales of $10 million or more through August 2026, already 14.1% above all of 2025 (170 sales), according to MIAMI REALTORS® + RWorld. At that pace the county is projected to reach about 291 such sales this year, well above the record of 230 set in 2021. Total home sales slipped 1.1% in August.
- 194$10M+ sales through August 2026
- 170$10M+ sales in all of 2025
- ~291Projected 2026 total
- 230Previous record, set in 2021
Miami's top tier is having a historic year. According to MIAMI REALTORS® + RWorld's August report, released September 16, 2026, Miami-Dade recorded 194 home sales of $10 million or more in the first eight months of the year. That is already 14.1% more than in all of 2025, when the county logged 170.
If the pace holds, Miami-Dade is projected to finish 2026 with about 291 sales at $10 million and up, beating the previous record of 230 set in 2021 by a wide margin. The Tampa Bay Times also reported the 291 projection.
How many $10 million homes sell in Miami?
The short answer: more than ever. The association says South Florida now averages about one $10 million-plus sale per day across the region. In Miami-Dade, the 2026 count passed the full 2025 total before the end of August.
Cash remains a big part of the story. In August, 37.8% of all Miami-Dade closed sales were paid in cash, including about half of condo sales. Nationally, the cash share is closer to 27%.
What is driving Miami's $10 million market?
Several forces are working together. Wealthy buyers keep relocating to South Florida, and in the first half of 2026 out-of-state buyers rose to 10% of domestic buyers, led by New York, as I covered in this piece on the new luxury thresholds. International buyers remain active, especially in new construction. And Miami still offers more space per dollar than other global cities: according to the 2026 Knight Frank Wealth Report cited by MIAMI REALTORS®, $1 million buys about 58 square meters in Miami, compared with 34 in New York and 33 in London.
The broader market: steady, not booming
The record at the top sits alongside a more mixed picture for the rest of the market. I think it's worth showing both.
- Total sales: 1,769 in August, down 1.1% from a year earlier, ending an 11-month streak of annual gains.
- Single-family: 858 sales, down 3.1%; median price $680,000, up 3.8%.
- Condos: 911 sales, up 1%; median price $408,000, roughly flat.
- Inventory: 15,825 active listings, down 12.1%. Single-family homes had 4.9 months of supply, a seller's market; condos had 12.1 months, a buyer's market.
- Mortgage rates: the 30-year fixed averaged 6.67% in August and reached 7.17% by September 15.
The association's chief economist, Gay Cororaton, said she expects rates to stay above 6.7% through year-end, with cash and high-end buyers continuing to drive the market.
The top of Miami's market runs largely on cash, so higher mortgage rates slow it far less than they slow everyone else.
What it means for Miami real estate
For sellers of high-end homes
Demand at $10 million and up is deeper than it has ever been in Miami-Dade. The right waterfront home or full-floor condo, priced to the market, is meeting a large pool of qualified buyers.
For buyers below the top tier
Single-family inventory is tight and prices are still rising, but condo buyers have more choice and more room to negotiate, with over a year of supply on the market.
For investors
No one can promise appreciation. The data points to a two-speed market: a cash-driven top end setting records, and a mid-market that is sensitive to interest rates. Plan for both.
Frequently asked questions
How many $10 million homes have sold in Miami-Dade in 2026?
Miami-Dade recorded 194 home sales of $10 million or more through August 2026, according to MIAMI REALTORS® + RWorld.
Is Miami on track for a record year of $10 million home sales?
Yes. At its current pace, Miami-Dade is projected to reach about 291 sales of $10 million or more in 2026, above the previous record of 230 set in 2021.
How many $10 million homes sold in Miami-Dade in 2025?
Miami-Dade recorded 170 home sales of $10 million or more in 2025. The 2026 total passed that figure by August.
What is the median home price in Miami-Dade?
In August 2026, the median single-family home price in Miami-Dade was $680,000, up 3.8% from a year earlier, and the median condo price was $408,000.
Are Miami home sales going up or down?
Total Miami-Dade home sales dipped 1.1% year over year in August 2026, while sales of $10 million and up are on pace for a record year.
Thinking about selling at the top of a record market?
Let's look at what comparable $10 million-plus homes have sold for this year. Email pedrojvelasco@gmail.com or message +1 786 553 5401 on WhatsApp.
Sources
- MIAMI REALTORS® + RWorld: Miami-Dade on pace to shatter $10M+ up home sales annual record
- Tampa Bay Times: Luxury home sales in South Florida
- Homes.com News: Miami-Dade trophy home sales race toward annual record amid influx of wealth
This article is for informational purposes and is not financial or legal advice. Figures are as reported by the sources above and may change.