Miami-Dade's median listing price per square foot is $459 in August 2026, down 2.75 percent in a year, but the county number hides a 3.4 times spread that runs from $388 in Aventura to $1,337 in Coconut Grove, per Realtor.com Economic Research. The number I actually watch is the direction, not the level, because the land markets and the tower markets have split apart this year. My advice to buyers is to compare a building against its own submarket, never against the county average.
Price per square foot is the one number buyers reach for when they want to compare two Miami addresses quickly, and it is also the number most often used wrong. A single county figure tells you almost nothing here, because Miami-Dade is not one market. It is a set of submarkets that differ by more than three times per foot inside a fifteen-mile radius, and in August 2026 they are not even moving in the same direction as each other.
This report ranks eleven areas on median listing price per square foot as of August 2026, using Realtor.com Economic Research market data, with the one-year and three-year change beside each one so you can see momentum and not just level. The short version of what the table shows: the areas where land is scarce are appreciating, the areas where supply can be stacked vertically are not, and the top of the condo market is pulling away from the middle of it.
- The Ranking: 11 Miami Areas by Price Per Square Foot
- The Split: Land Markets Up, Tower Markets Down
- The Trap: Why Coconut Grove's $1,337 Is Not a Condo Price
- The Condo Corridors: Brickell, Downtown, Edgewater
- The Beaches: Bal Harbour, Surfside, Sunny Isles, Miami Beach
- Why Prices Are Sliding and Not Falling: The Inventory Story
- The Top Is Still Rising: Luxury Thresholds in 2026
- Gerardo's Read by Buyer Type
- Methodology and Sources
- Frequently Asked Questions
The Ranking: 11 Miami Areas by Price Per Square Foot
Here is the whole picture in one table. Eleven Miami-Dade areas ranked on median listing price per square foot as of August 2026, measured against a county median of $459, with the one-year and three-year change beside each so you can see which way each market is actually travelling. All figures come from Realtor.com Economic Research market data for each area.
Read the two change columns before the dollar column. Four of these eleven areas are up over the past year and seven are down, and the ones that are up are not the ones most buyers expect.
| Area | Price / Sq Ft | 1-Year | 3-Year | Median List | Active | Days on Market |
|---|---|---|---|---|---|---|
| Coconut Grove | $1,337 | +22.37% | +31.21% | $2,875,000 | 298 | 101 |
| Bal Harbour | $1,278 | -2.20% | -13.19% | $3,025,000 | 127 | 112 |
| Key Biscayne | $1,200 | +6.07% | +9.81% | $2,700,000 | 160 | 88 |
| Coral Gables | $947 | +13.20% | +13.91% | $1,950,000 | 409 | 85 |
| Surfside | $877 | +0.24% | -7.10% | $1,290,000 | 121 | 124 |
| Downtown Miami | $750 | +0.05% | -3.23% | $685,000 | 1,993 | 109 |
| Brickell | $747 | -1.01% | -7.50% | $737,450 | 1,180 | 98 |
| Edgewater | $703 | -2.41% | -11.17% | $743,500 | 507 | 112 |
| Miami Beach | $703 | +0.47% | -9.50% | $644,000 | 2,096 | 102 |
| Sunny Isles Beach | $571 | -8.20% | -23.43% | $749,250 | 1,188 | 106 |
| Aventura | $388 | -2.99% | -7.94% | $497,500 | 1,365 | 107 |
| Miami-Dade County | $459 | -2.75% | -10.24% | $588,700 | 21,440 | 87 |
Buyers hand me a county average and ask if Miami is up or down. That question has no single answer in 2026. Coconut Grove and Sunny Isles Beach are both Miami-Dade, and one is up 22 percent per foot while the other is down 8. You have to price the submarket, not the city.
Gerardo Gonzalez, Licensed Real Estate Agent at Compass
The Split: Land Markets Up, Tower Markets Down
Sort the eleven areas by their one-year change instead of their price and a clean pattern appears. Every area that gained ground per square foot is a market where you cannot easily add supply. Coconut Grove is up 22.37 percent, Coral Gables 13.2 percent, and Key Biscayne 6.07 percent, per Realtor.com Economic Research. All three are dominated by single-family homes on finite lots, and Key Biscayne is a barrier island with a hard boundary around it.
Now look at the other end. Sunny Isles Beach is down 8.2 percent in a year and down 23.43 percent over three. Aventura is down 2.99 percent, Edgewater 2.41 percent, Brickell 1.01 percent. These are the corridors where Miami has spent a decade stacking new inventory vertically, and vertical supply is the one thing that reliably caps price per square foot. When a market can answer demand by building upward, per-foot pricing flattens even while the city stays desirable.
This is the same two-speed market I have been describing to buyers since last year, now visible in dollars per foot rather than in anecdotes. It is not a story about Miami cooling. It is a story about which kind of Miami square footage is genuinely scarce.
| Supply Type | Areas | 1-Year Change | What Limits Supply |
|---|---|---|---|
| Land-constrained (house-led) | Coconut Grove, Coral Gables, Key Biscayne | +6.07% to +22.37% | Finite lots, no vertical answer |
| Small oceanfront enclaves | Bal Harbour, Surfside | -2.20% to +0.24% | Tiny footprint, thin listing counts |
| Vertical condo corridors | Brickell, Downtown, Edgewater | -2.41% to +0.05% | Nothing, supply can stack upward |
| Mature high-rise stock | Sunny Isles Beach, Aventura | -8.20% to -2.99% | Large aging inventory competing on price |
The Trap: Why Coconut Grove's $1,337 Is Not a Condo Price
This is the mistake I correct most often, and it costs people real money in negotiations. Every figure in the ranking table covers all property types in that area, not condos alone. In the high-rise corridors that distinction barely matters, because Brickell, Downtown, Edgewater, Sunny Isles Beach and Aventura are overwhelmingly condo inventory. In Coconut Grove, Coral Gables and Key Biscayne it matters enormously, because those numbers are carried by houses sitting on land.
Coconut Grove's median list price is $2,875,000 across only 298 active listings, per Realtor.com Economic Research. That is a waterfront-house market, and its $1,337 per foot is largely the price of Grove land with a house on it. A buyer who reads that number, compares it to Brickell at $747, and concludes that Grove condos cost nearly twice Brickell condos has drawn the wrong conclusion from a correct statistic. The Grove has excellent condo product, and it does not price at $1,337 a foot across the board.
My rule for using this table: treat the condo-corridor rows as usable condo benchmarks, and treat the house-led rows as a measure of land value in that area. Then price the individual building against comparable sales inside that same building or its immediate neighbors, because floor, line, view corridor and age move per-foot pricing inside one tower more than most buyers realise.
| Area | What the Per-Foot Figure Mostly Measures | Use It As |
|---|---|---|
| Brickell, Downtown, Edgewater | Condo inventory, thousands of listings | A fair condo benchmark |
| Sunny Isles Beach, Aventura, Miami Beach | Condo inventory, mixed age and quality | A fair condo benchmark, check building age |
| Bal Harbour, Surfside | Oceanfront condos, very thin listing counts | Directional only, few comparables |
| Coconut Grove, Coral Gables, Key Biscayne | Houses on land | A land-value read, not a condo price |
The listing counts are the tell. Downtown Miami carries 1,993 active listings and Miami Beach 2,096, so their medians rest on deep samples. Surfside has 121 and Bal Harbour 127, so a handful of trophy listings can move those figures more than a genuine market shift. When a per-foot number sits on a small sample, treat it as a direction rather than a price.
The Condo Corridors: Brickell, Downtown, Edgewater
These three are the heart of Miami's condo market and they now sit within $47 a foot of each other: Downtown Miami at $750, Brickell at $747, Edgewater at $703. A decade ago that ordering would have surprised people, since Brickell has long carried the premium address. What closed the gap is the delivery cycle. Downtown and Edgewater absorbed an enormous volume of new towers, and new product lifts a submarket's median list price per foot even when resale pricing in older buildings is soft.
Look at how differently they behave underneath. Downtown Miami is essentially flat, up 0.05 percent in a year and down only 3.23 percent over three, with 1,993 active listings and 109 days on market. Edgewater is down 2.41 percent in a year and 11.17 percent over three, and its active inventory fell 17.9 percent year over year, per Realtor.com Economic Research. Edgewater has been correcting harder and clearing inventory faster, which is usually what precedes a floor rather than a further slide.
The thing I tell buyers looking at these three: at this level of convergence, the address is no longer what you are paying for per foot. What separates a good Brickell buy from a poor one right now is the building, its reserves, its assessment history and its floor and line, not the neighbourhood name on the listing. Two units in the same corridor at the same price per foot can carry very different real costs of ownership.
| Corridor | Price / Sq Ft | 1-Year | Active Listings | Active YoY |
|---|---|---|---|---|
| Downtown Miami | $750 | +0.05% | 1,993 | -2.31% |
| Brickell | $747 | -1.01% | 1,180 | -3.45% |
| Edgewater | $703 | -2.41% | 507 | -17.90% |
The Beaches: Bal Harbour, Surfside, Sunny Isles, Miami Beach
The barrier islands do not behave as one market either. Bal Harbour holds $1,278 a foot on 127 active listings, and Surfside $877 on 121, both essentially flat over the past year. Sunny Isles Beach, four miles up the same strip of sand, sits at $571 and is down 8.2 percent in a year and 23.43 percent over three, the steepest decline of any area in this report, per Realtor.com Economic Research.
Sand alone does not explain that gap, and neither does distance. Bal Harbour and Surfside are small, tightly zoned enclaves where very little new inventory arrives. Sunny Isles has a long wall of high-rise towers built across several cycles, so a buyer there has genuine choice, and choice is what pulls median per-foot pricing down. Aventura, just inland, tells the same story more sharply at $388 a foot on 1,365 active listings.
What I actually watch on the beach is building age rather than city line. Florida's milestone inspection and structural reserve rules have separated the older oceanfront stock from the newer stock in a way the headline per-foot number does not show. A 1970s Sunny Isles building at $500 a foot with an unfunded reserve study can be a worse purchase than a newer building at $700, once the assessment arrives. Per-foot price without a reserve review is only half of a decision.
- Bal Harbour: $1,278 per foot, 127 active listings, down 2.2 percent in a year
- Surfside: $877 per foot, 121 active listings, up 0.24 percent in a year
- Miami Beach: $703 per foot, 2,096 active listings, up 0.47 percent in a year
- Sunny Isles Beach: $571 per foot, 1,188 active listings, down 8.2 percent in a year
- Aventura: $388 per foot, 1,365 active listings, down 2.99 percent in a year
Why Prices Are Sliding and Not Falling: The Inventory Story
A three-year drop of 10.24 percent per foot countywide sounds like a market in trouble until you look at what supply is doing. Active listings fell in every single area in this report over the past year, and in several of them sharply: Surfside down 25.9 percent, Coral Gables 22.18 percent, Miami Beach 21.79 percent, Coconut Grove 21.39 percent, Bal Harbour 19.89 percent, Edgewater 17.9 percent, per Realtor.com Economic Research. Miami-Dade as a whole shed 11.88 percent of its active listings.
That combination, softer per-foot pricing alongside shrinking inventory, tells you what sellers are choosing. They are pulling listings rather than cutting to clear. Days on market sit between 85 and 124 across the eleven areas, so nothing is selling quickly, but the withdrawals keep the visible supply tight enough that per-foot pricing erodes by single digits instead of collapsing.
For a buyer that is a mixed message worth reading correctly. You have negotiating room, because a listing sitting 98 or 112 days has a motivated owner behind it. What you do not have is a flood of desperate inventory, and that is why I keep telling buyers not to wait for a crash that the supply data does not support. Negotiate hard on the specific unit in front of you rather than timing the market.
Falling prices with falling inventory is not a crash, it is a standoff. Sellers who do not have to sell are taking their listings off the board instead of accepting today's number. That gives you leverage on the seller who is still listed, and almost none on the market as a whole.
Gerardo Gonzalez, Licensed Real Estate Agent at Compass
The Top Is Still Rising: Luxury Thresholds in 2026
The per-foot table measures the median listing, which is the middle of each market. The top of the market is doing something different. South Florida's top-5-percent condominium price threshold rose to $2.3 million in the first half of 2026, up from $2.0 million in 2025, and the top-1-percent threshold rose to $6.0 million from $5.4 million, according to MIAMI REALTORS chief economist Gay Cororaton.
Single-family moved even harder in the same period. The top-5-percent single-family threshold went from $2.7 million to $3.3 million and the top-1-percent from $7.8 million to $10.7 million, with the highest single-family ultra-luxury threshold in Miami-Dade at $15 million and the highest condominium threshold at $10 million. So the level required to sit in the top slice of the market went up on both product types, while the median per foot in most condo corridors went down.
Both things are true at once, and holding them together is the whole point of this report. The broad condo middle has more supply than demand and is repricing. The genuinely scarce product, the trophy floor, the true waterfront, the branded residence, has a smaller buyer pool but almost no substitute, and it is still setting higher marks. A buyer reading only the county per-foot number would conclude Miami luxury is falling. It is not falling, it is separating.
Gerardo's Read by Buyer Type
What you should do with this table depends entirely on why you are buying. Below is how I use these numbers with the three buyer profiles I see most often. The common instruction is the same for all three: use price per foot to shortlist submarkets, then abandon it and price the specific building on its own facts.
The Buyer Who Wants a Home to Live In
Ignore the county figure entirely and pick the corridor that fits your life, then use its per-foot number as your negotiating floor. In Brickell at $747 and Downtown at $750 you are buying into the deepest inventory in the county, which means comparables are easy to establish and sellers know it. Start with the Brickell condo guide and check the building's reserve funding before you check the view.
The Investor Buying for Yield
The per-foot number only matters to you next to the rent it supports. Aventura at $388 a foot with a $3,200 median rent prices very differently from Bal Harbour at $1,278 with an $8,150 median rent, and the cheap entry is not automatically the better yield once fees and assessments land. Run the full carry, not the purchase price, using the true cost of ownership guide.
The Buyer Protecting Capital
If your priority is holding value rather than maximising yield, the three-year column is your column. Coconut Grove is up 31.21 percent over three years and Key Biscayne 9.81 percent, while Sunny Isles Beach is down 23.43 percent. Scarcity of land has been the single most reliable defence of per-foot value in this county, and the $5M-plus ultra-luxury report covers where that scarcity is priced today.
Price per square foot is a shortlisting tool, not a valuation. I use it to decide which three buildings are worth a real analysis, and then I stop using it, because floor, line, view corridor, reserve funding and assessment history will move the true cost of a unit far more than the neighbourhood average ever will.
Gerardo Gonzalez, Licensed Real Estate Agent at Compass
Methodology and Sources
Every price-per-square-foot, listing-count and days-on-market figure in this report is the median listing value published by Realtor.com Economic Research for that area, taken from its August 2026 market summary pages and read on August 12, 2026. Areas labelled as Miami neighbourhoods (Brickell, Downtown Miami, Edgewater, Coconut Grove) are neighbourhood-level series; the rest are municipality-level series inside Miami-Dade County.
Two limits are worth stating plainly. First, these are listing figures, not closed-sale figures, so they describe what sellers are asking today rather than what buyers paid last quarter. Second, they cover all property types in each area, which is why the house-led markets are flagged separately above. The luxury and ultra-luxury thresholds come from MIAMI REALTORS + RWorld chief economist Gay Cororaton's first-half 2026 analysis, published July 23, 2026, and are closed-sale based.
Last verified August 12, 2026. This page is refreshed when the underlying monthly series moves materially, and the figures above are restated rather than adjusted.
Related Resources
- Miami Luxury Condo Market Mid-2026
- South Florida Housing Market Data 2026
- Brickell vs Sunny Isles Beach Luxury Condos
- Aventura Luxury Condos Neighborhood Guide
- Miami Condo HOA Fees 2026: Averages by Type
- Miami Condo Special Assessments: SB 4-D Guide
Frequently Asked Questions
