Miami Ranks as Top Homebuyer Market in U.S. Amid Mass Delistings

With nearly ten months' worth of housing inventory clogging the area market, South Florida appears to be heading into fall 2025 with the strongest homebuyer's market in the nation, according to Realtor.com.

The news comes as seven of the top 50 U.S. metros have shifted toward strong buyer's markets. (To determine how strong an area's housing market is for buyers, Realtor.com estimates how long it would take to sell an area's inventory based on the pace of recent and ongoing sales.)

Miami beat out Austin, Orlando, New York City, Jacksonville, Tampa, and Riverside, California, which round out the seven metros with the strongest buyer's markets. For the first summer since Realtor started tracking housing market inventory in 2009, the national housing market reached a five-month supply of unsold homes, according to the website's August housing trends report, which is based on June statistics.

The outlet ranked Miami, with about 9.7 months of inventory, as the strongest buyer's market in the nation. (Translation: It would take nearly ten months to sell all the homes listed for sale in Miami.) The median list price for a home in Miami was $510,000, down 4.7 percent from 2024, while inventory rose 35 percent over the same period. On average, homes have languished on the market 15 days longer this year.

Miami's homebuyer-friendliness is not new to this summer; dating back to October 2023, the metro has had more than six months' supply on the market. But some local real estate agents say Miami's market is more complicated than top-line numbers. While certain areas may offer buyers more negotiating power, "It's more accurate to say the market is moving toward balance, which is healthy after the post-COVID surge," Miami real estate agent Ana Bozovic told Realtor.com.

The Miami market has "very different realities" depending on the cost and type of home sought, Bozovic elaborated. "To get leverage in negotiations, a buyer needs to recognize this and to be very well versed in the dynamics of the segment they are investing in."

Additionally, while buyers tend to gain negotiating leverage when sales are slow, sellers often respond by delisting properties that linger. Miami homeowners did precisely that this summer at more than twice the rate of other U.S. markets.

Heading into the fall market, Bozovic suggested that buyers bear in mind that "Miami is not a monolith" and that they should expect varying market conditions depending on what they seek.

"Single-family homes under $500K are essentially extinct, so buyers in that category have little to no leverage," she noted. "By contrast, buyers in the sub-$500K condo segment may find more negotiating room, in part because new condo reserve requirements have increased supply. Know your segment."