Miami Market Data
Price drop trends, inventory levels, and market signals across Miami's luxury real estate market.
Drops by Neighborhood
| Neighborhood | Drops | Avg Drop % | Total Value Cut | |
|---|---|---|---|---|
| Loading neighborhoods... | ||||
What's driving Miami price cuts
HOA reserves legislation (SB-4D)
Florida's 2022 Milestone Inspection Law and 2023 SB-4D required condo associations to fully fund structural reserves by end of 2024. Many buildings that were previously waiving reserves now face assessments and dramatically higher monthly fees. This has made some condos genuinely harder to sell -- and sellers are cutting prices to compensate.
Inventory surge
Miami's luxury condo inventory reached multi-year highs in late 2025. New pre-construction towers completing in Brickell, Edgewater, and Sunny Isles have flooded the resale market. Buyers now have leverage they haven't had since 2019.
DOM creep
Average days on market for Miami luxury condos climbed from 45 days (2022 peak) to 90-120+ days in 2025-2026. Sellers who priced at peak 2022 expectations are gradually capitulating -- hence the growing list of properties with 2-3 price reductions.
International buyer caution
Miami's luxury market has historically depended on South American, European, and Russian buyers. Exchange rates, geopolitical uncertainty, and Miami's now-elevated price levels have pulled some international demand back -- softening the bid side.
Data methodology
PanicSelling.miami collects data through two complementary approaches:
- Redfin GIS API -- We query Redfin's geospatial listing API daily for all active Miami listings priced $1M+. This captures current prices, property details, and listing metadata across ~350 listings per API request.
- Playwright scraper -- We also scrape Redfin's "Price Reduced" search results for Miami, capturing listings that Redfin has already flagged with price drop badges. These drops are verified against Redfin's own data.
- Independent snapshot tracking -- By storing daily price snapshots, we build our own price history. Over time, this lets us detect drops that Redfin may not surface immediately.
All data is sourced from public MLS listings. Prices shown are listed prices, not sold prices. Verified buyers should confirm pricing with listing agents before making offers.