Broward County home sales posted year-over-year gains for the third consecutive month in May, fueled by rising luxury transactions, increased dollar volume and continued demand across South Florida, according to the latest housing statistics released by MIAMI REALTORS® + RWorld, the MIAMI MLS and BeachesMLS.
Total home sales increased 0.9% year-over-year in May 2026, with single-family transactions rising 3.2% and condominium sales increasing 5.4%. Sales of homes priced at $1 million and above climbed 17.6% compared to the same period last year, while condo sales in the $400,000 to $500,000 range surged 12%.
“The continued growth of South Florida real estate is driven in large part by the connectivity between our counties,” MIAMI REALTORS® + RWorld BROWARD-MIAMI President Sophia Allen said. “Brightline and Tri-Rail are strengthening regional mobility, giving residents greater flexibility in where they live and work. At the same time, the significant wealth migration into our region continues to fuel demand.”
AMong the market’s notable indicators, domestic migration to Broward County continues to increase, with out-of-state driver license exchanges rising 6% year-over-year in 2025. New York, California and New Jersey remained the county’s top feeder states. Meanwhile, homeowners in the Miami-Fort Lauderdale metro area have gained approximately $300,000 in home equity over the last five years, according to National Association of REALTORS® data.
Total Broward sales rose from 2,124 transactions in May 2025 to 2,145 in May 2026. Single-family home sales increased from 1,110 to 1,146 transactions year-over-year, while existing condominium sales totaled 999 transactions.
Home values continued to demonstrate long-term strength. Broward single-family home median sale prices increased 0.8% year-over-year, rising from $625,000 to $630,000. Since 2008, single-family home prices have appreciated 126.2%.
Condominium median prices remained stable at $275,000. Since 2010, Broward condo values have increased 104%, highlighting the long-term appreciation of the market.
Total active listings decreased 18.6% year-over-year, falling from 17,959 to 14,615 properties. Single-family inventory declined 22.2%, dropping to 4,560 listings, while condominium inventory fell 16.9% to 10,055 listings.
Months of supply remained split between property types. Single-family homes carried a 4.5-month supply, indicating a seller’s market, while condominiums posted a 10.6-month supply, signaling conditions that favor buyers.
Mortgage rates continued to influence market activity. According to Freddie Mac, the average 30-year fixed-rate mortgage was 6.44% in May 2026.
“South Florida’s housing market has remained remarkably robust despite rising mortgage rates that could hit 6.7% by year-end per MIAMI REALTORS® + RWorld latest outlook update,” said MIAMI REALTORS® + RWorld Chief Economist Gay Cororaton. “This year is shaping up to be the strongest yet since 2021 due to the phenomenal surge in million-dollar sales that have surged nearly 20% from one year ago.”
The condominium market continues to face lending challenges. Of the 2,397 condominium buildings across Miami-Dade, Broward and Palm Beach counties, only 21 currently qualify for FHA financing, according to the U.S. Department of Housing and Urban Development.
Broward’s total dollar volume increased 8.4% year-over-year to $1.4 billion in May. Single-family dollar volume rose 10.6% to $1 billion, while condominium dollar volume increased 3.4% to $381 million.
The economic impact of residential sales remained substantial. According to National Association of REALTORS® estimates, a typical Florida home sale generates approximately $129,000 in economic activity. With 2,145 homes sold in May, Broward County generated an estimated $276 million in local economic impact.
Distressed sales accounted for just 0.8% of all residential transactions in May, reflecting continued market stability. Short sales represented 0.2% of total sales, while REO (bank-owned) properties accounted for 0.6%.
Cash transactions represented 36.1% of Broward closed sales in May, exceeding the national average of approximately 25%.
Cash purchases accounted for 52.2% of condominium transactions and 22.1% of single-family sales, reflecting ongoing demand from both domestic and international buyers.
MIAMI REALTORS® noted that initiatives such as Florida’s Live Local Act, continues multifamily construction and regional transportation investments are expected to support future housing affordability and economic growth throughout South Florida.
The organization also highlighted Miami’s relative value on the global stage. According to the 2026 Knight Frank Wealth Report, $1 million purchases approximately 58 square meters of prime residential property in Miami—significantly more than buyers receive in cities such as Monaco, London, New York, Paris and Tokyo.
For more information, visit www.SFMarketIntel.com.
