What does “months supply of inventory” mean?

Months supply is how long it would take to sell every home currently listed for sale if sales continued at the current monthly pace and nothing new came on the market. It is calculated by dividing active inventory by the recent average of closed sales. A common rule of thumb is that under about 4 months favors sellers, 4 to 6 months is roughly balanced, and over 6 months favors buyers. It is one indicator among several, and it describes Miami as a whole rather than any one home.

What is the difference between the median and the average sale price?

The median sale price is the middle sale: half of the homes that closed sold for more and half for less. The average adds every sale price together and divides by the number of sales, so a few very high or very low sales can pull it up or down. For a sense of what a typical home sold for, the median is usually the steadier figure; the average shows how the high end moved. Both are listed for Miami.

Where do these numbers come from?

From Florida Realtors® SunStats, the statewide statistics service built from closed sales reported to the MLS. The figures for August 2026 are compared with the same month a year earlier. They cover closed sales reported to the MLS, so private sales are not included, and figures may be revised as late-reported sales are added. The statistics are not financial, tax or legal advice.

Miami-Dade County · City report

Miami housing market: August 2026

Closed sales, prices, time to contract and inventory for Miami across all property types, compared with August 2025.

All property types

Median Sale Price: $630,000; down -7.0% vs. August 2025
Closed Sales: 287; up +11.2% vs. August 2025
Median Time to Contract: 73 Days; up +7.4% vs. August 2025
Months Supply of Inventory: 13.2; down -10.8% vs. August 2025

All property types

All property types: August 2026 compared with August 2025
Metric	August 2026	August 2025	Change
Closed Sales	287	258	up +11.2%
Cash Sales	141	129	up +9.3%
Cash Sales % of Closed	49.1%	50.0%	down -1.8%
Median Sale Price	$630,000	$677,500	down -7.0%
Average Sale Price	$1,084,551	$1,198,733	down -9.5%
Dollar Volume	$311.3 Million	$309.3 Million	up +0.6%
Median % of Original List Price	93.5%	91.5%	up +2.2%
Median Time to Contract	73 Days	68 Days	up +7.4%
Median Time to Sale	112 Days	104 Days	up +7.7%
New Pending Sales	284	285	down -0.4%
New Listings	707	628	up +12.6%
Pending Inventory	388	416	down -6.7%
Active Inventory	4,011	4,071	down -1.5%
Months Supply of Inventory	13.2	14.8	down -10.8%

In August 2026 the median sale price for homes of all types in Miami was $630,000, down 7.0% from $677,500 in August 2025. 287 sales closed, 11.2% more than the 258 a year earlier, and 49.1% of them were cash sales.

The median time from listing to a signed contract was 73 days, longer than the 68 days of August 2025. The typical home sold for 93.5% of its original list price (91.5% a year earlier).

There were 4,011 active listings at month end, 1.5% fewer than a year earlier, with 707 new listings during the month (up 12.6% from August 2025). At the current sales pace that is 13.2 months of supply, down from 14.8 a year earlier, above the 6-month mark that is usually read as a market that favors buyers.

Statistics describe the market as a whole; a specific home can differ. Talk to a licensed agent and a lender about your situation. These statistics are not financial, tax or legal advice.

Source: Florida Realtors® SunStats, based on MLS data. Statistics are for closed sales reported to the MLS and may be revised. Source: Florida Realtors® SunStats, August 2026.

Nearby in Miami-Dade County

About these numbers

What does “months supply of inventory” mean?: Months supply is how long it would take to sell every home currently listed for sale if sales continued at the current monthly pace and nothing new came on the market. It is calculated by dividing active inventory by the recent average of closed sales. A common rule of thumb is that under about 4 months favors sellers, 4 to 6 months is roughly balanced, and over 6 months favors buyers. It is one indicator among several, and it describes Miami as a whole rather than any one home.
What is the difference between the median and the average sale price?: The median sale price is the middle sale: half of the homes that closed sold for more and half for less. The average adds every sale price together and divides by the number of sales, so a few very high or very low sales can pull it up or down. For a sense of what a typical home sold for, the median is usually the steadier figure; the average shows how the high end moved. Both are listed for Miami.
Where do these numbers come from?: From Florida Realtors® SunStats, the statewide statistics service built from closed sales reported to the MLS. The figures for August 2026 are compared with the same month a year earlier. They cover closed sales reported to the MLS, so private sales are not included, and figures may be revised as late-reported sales are added. The statistics are not financial, tax or legal advice.

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