According to recent reports, the Miami, Florida metro area is one of the strongest buyer’s markets in the country in 2025.
The Miami real estate market currently favors buyers over sellers, mainly due to a huge surplus of homes for sale combined with weaker demand.
Home buyers across South Florida have more properties to choose from and more time to consider them. They’re also in a better position to request concessions from the seller.
What buyers need to know about the market in fall 2025:
- Miami has nearly 9.7 months of housing supply, far above the 6-month threshold that signals a buyer’s market.
- Home prices in the area declined by 4% over the past year and probably have further to fall before finding a bottom.
- The typical Miami-area home stays on the market for 80+ days before going under contract, much longer than the national average.
- Last month only 8% of homes sold for more than the list price, which means that bidding wars are exceedingly rare.
Miami Becomes a Buyer’s Market in 2025
A recent report from Realtor.com showed that several major metropolitan areas have crossed the line into buyer’s market territory, mainly due to steady inventory growth.
And several of those evolving markets are in Florida—with Miami topping the list.
According to the September 2025 Realtor.com report:
“Miami, Orlando, Jacksonville, and Tampa have all crossed into buyer-friendly territory, signaling a dramatic shift in bargaining power and a new chapter for the Sunshine State’s housing market…”
5 Key Trends Shaping the Market
Here’s what makes the Miami area a buyer’s market in 2025:
1. Inventory is outpacing demand.
Miami currently has about 9.7 months of supply of homes for sale. That’s well above the threshold (around 6 months) that typically signals a buyer’s market. In late 2025, there are more homes for sale than there are buyers ready to snap them up.
2. Homes are sitting longer on the market.
Properties listed for sale in South Florida are staying on the market longer than last year. This shows that buyers aren’t rushing to purchase them, and that sellers may need to adjust their expectations and pricing strategies.
3. De-listings have increased as well.
A higher share of homeowners are choosing to pull their homes off the market, often due to a lack of full-price offers. Miami leads most other real estate markets in this measure.
4. Price cuts are less common, but flexibility is growing.
In fall 2025, only about 17% of Miami-area real estate listings had a price reduction. That shows that many sellers are still hesitant to lower their asking prices. But the sheer volume of properties for sale in this market gives buyers more negotiating leverage.
5. A strong job market supports stability.
Despite the ongoing shift in housing market dynamics, Miami’s broader economy is holding up well in 2025. The unemployment rate is currently below 3%, which is better than the national average. This supports demand for homes, even if it’s not as intense as during the boom years.
Why It’s a Big Deal for Buyers
Here’s what home buyers in Miami can expect in this kind of market:
- More options. With nearly 10 months of inventory, home buyers can afford to be choosy, a luxury that’s not available in most other U.S. metros.
- Less competition. Miami home buyers will encounter fewer bidding wars and fewer situations where they have to offer more than the asking price.
- Negotiating leverage. In late 2025 and into 2026, sellers may be more willing to negotiate the price, offer concessions, or accept home buyer contingencies.
- Time to decide. Because homes are taking longer to sell, buyers might have more breathing room to consider their options and get their financing in order.
Bottom line: If you plan to buy a home in Miami during the fall or winter of 2025, you’re in a good position. You’ll have more options and more room to negotiate.
Zooming Out: Florida and U.S. Market Trends
Miami is not alone. Other major metros in Florida—including Orlando, Jacksonville, and Tampa—have also become buyer’s markets in 2025.
In many cities across the Sunshine State, housing inventory has risen faster than the national pace, shifting markets in a way that benefits house hunters.
On the national level, housing supply is currently hovering around five months (which is more balanced), but Florida is seeing supply levels well above that. With nearly a 10-month supply of homes for sale, the Miami metro area leads the nation.
Will These Conditions Continue in 2026?
Will Miami’s buyer’s market continue through this year and into 2026? Or will the pendulum swing back toward balance—or even toward a seller’s market again?
Here are the primary factors that will influence future shifts:
- Mortgage rates. If mortgage rates fall (as in the fall of 2025), more buyers could enter the market, boosting demand and prices.
- Inventory level. Months of inventory growth have pushed Miami toward a buyer’s market. What happens next will largely depend on supply changes.
- New construction. Florida is currently experiencing a new home construction boom. If it continues, it could make the market even more buyer-friendly.
- Insurance and taxes. Rising flood insurance, home insurance challenges, or property tax changes can reduce what buyers can afford and weaken demand.
- Foreign buyers. If investors or overseas buyers return in force, demand will surge and inventory will fall. This could shift the market back toward sellers.
Our view: If mortgage rates continue to fall (as in recent weeks), it could bring buyers back into the market and create more negotiating balance. But that’s a ways off.
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