September 17, 2025
From multimillion-dollar condos to soaring single-family estates, Miami cements its status as a global luxury hub
Average prices hit $1.13M — nearly triple the U.S. norm, with new construction and future projects commanding even greater premiums.
At a glance: Miami’s average home price is $1.13M vs. $647,307 nationally. New construction averages $2.29M, and future builds (2025–2027) are projected at $2.76M. More than 2,100 listings are priced at $1M+.
Miami’s Market Outpaces National Pricing
Current listing data shows Miami’s median home price at $649,999, well above the national median of $379,000. In the luxury segment—defined as properties priced at $1 million+—the average list price rises to $2.84 million.
- Single-family: $1.41M avg
- Multi-family: $929,220 avg
- Land lots: $1.9M avg
- Luxury size: 2,672 sq. ft. • 3.7 beds • 3.5 baths
- City-wide avg: 1,591 sq. ft. • 2.7 beds • 2.3 baths
New Construction Commands Premium Pricing
Recently delivered homes (2023–2024) average $2.29M—a 102% premium over Miami’s overall market. Though only 4.6% of current listings, these properties feature contemporary design and amenities tailored to luxury demand.
Looking ahead, future builds (2025–2027) are priced even higher at an average of $2.76M—21% above today’s new construction and 144% above the market overall.
- Future builds: 2,789 sq. ft. • 3.9 beds • 4.0 baths
- Recent builds: 2,068 sq. ft. • 3.0 beds • 2.9 baths
Implications for Mortgage Professionals
With over one in four listings in Miami priced above $1M (vs. ~10% nationwide), lenders face elevated demand for jumbo products and high-net-worth client services.
- Multi-family: 59.7% of listings
- Single-family: 30.2%
- Multi-unit: 5.3%
This diversity enables tailored financing strategies beyond traditional single-family luxury loans.
Broader Context: A Global Luxury Destination
Miami’s premium pricing reflects sustained demand for Florida real estate. At the ultra-high end, active listings reach $59 million, reinforcing the city’s global luxury profile.
Developers remain bullish: pricing for future projects significantly exceeds today’s averages, signaling confidence in the city’s long-term luxury trajectory despite broader economic uncertainty.
Contact me to learn about Real Estate opportunities in Miami and Miami Beach, at pedrojvelasco@gmail.com or at (786)553-5401.
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