Q1 2026 Greater Downtown Miami Luxury Condo Market Report

Greater Downtown Miami began 2026 with a notable rebound in sales activity, recording a significant improvement compared to the softer conditions seen throughout 2025. The price per square foot rose to near peak levels, supported largely by newly delivered luxury inventory, while pricing for many short-term-rental-friendly condos remained under pressure.

Elevated inventory levels continued to make Greater Downtown one of Miami’s most buyer-friendly luxury condo markets, offering abundant choices and negotiating leverage across various price points.

Among the area’s neighborhoods, Edgewater (along with the Arts & Entertainment District) emerged once again as the market to watch, leading both Greater Downtown and the rest of Miami with a remarkable 120% year-over-year growth in sales activity.

Read on for our exclusive, in-depth analysis of how Greater Downtown—which includes the submarkets of Edgewater, Brickell, and Downtown Miami—performed in Q1 2026, along with a comparison to the overall Miami luxury condo market trends in terms of sales, prices, days on market, and inventory.

Overall Greater Downtown Miami Luxury Condo Sales Volume: Q1 2026 YoY

Overall Greater Downtown Miami Luxury Condo Median Sales Price: Q1 2026 YoY

Overall Greater Downtown Miami Luxury Condo Median Price/Sq. Ft.: Q1 2026 YoY

— Summary of Q1 2026 Trends for Greater Downtown Miami

• Brickell had the highest sales volume at 57 sales. 

• Edgewater reported the highest percentage of YoY sales growth at 120%.

• Brickell posted the highest median sales price at $1.7 million.

• Edgewater reported the highest price per square foot at $978.

For this report, we've only included areas with zip codes 33129, 33130, 33131, 33132, 33137—Brickell Hammock, Brickell, Brickell Key, Downtown Miami, Arts & Entertainment District, Edgewater, Wynwood, Midtown, and Design District. 

This luxury condo market report only features properties priced $1 million and above, and generally does not include preconstruction condo sales.

Q1 2026: Greater Downtown Miami Area Luxury Condo Market Highlights

• Sales soared 21.7% year-over-year.

• Price per square foot was marginally up year-over-year to $938.

• Median sales price was up 11.9% year-over-year to $1.6M.

• Days on market went up 13.8% year-over-year to 91 days.

• Inventory remained flat at 26 months, with Airbnb condos being a strong contributing factor.

• Greater Downtown closed Q1 2026 as a buyer’s market, with some of the highest inventory levels in the Miami area.

Q1 2026 Greater Downtown Miami Subneighborhood Highlights

• Edgewater emerged as the top-performing neighborhood in Greater Downtown and overall Miami, with a market-leading 120% year-over-year sales growth.

• Downtown Miami led Greater Downtown in price appreciation, recording the highest year-over-year increase in price per square foot at 2.8%.

• Edgewater remained Greater Downtown Miami’s most expensive neighborhood, recording the highest price per square foot at $978. Brickell, however, posted the highest median sales price at $1.7 million, possibly reflecting a demand for larger, newer residences in the financial district.

• Brickell emerged as Greater Downtown’s fastest-selling market, with luxury condos taking a median of just 75 days to sell.

• Edgewater recorded the lowest inventory levels among the Greater Downtown Miami submarkets.

— Table of Contents

1. Greater Downtown Miami 

• Overall Sales Trends

• Sales-Price & Price-per-Square-Foot Trends

• Days-on-Market Trends

• Inventory Trends

2. Edgewater 

• Overall Sales Trends

• Sales-Price & Price-per-Square-Foot Trends

• Days-on-Market Trends

• Inventory Trends

3. Brickell

• Overall Sales Trends

• Sales-Price & Price-per-Square-Foot Trends

• Days-on-Market Trends

• Inventory Trends

4. Downtown Miami

• Overall Sales Trends

• Sales-Price & Price-per-Square-Foot Trends

• Days-on-Market Trends

• Inventory Trends

5. Conclusion 

6. Predictions

— Q1 2026 Greater Downtown Miami Luxury Condo Market Trends

Q1 2026 Greater Downtown Miami Luxury Condo Sales Trends

Echoing the overall Miami market trend with increases in both quarter-over-quarter and year-over-year sales activity, Greater Downtown’s luxury condo market reported a boost in sales: 

• Q1 2026 vs. Q1 2025: Sales increased 21.7%, from 92 to 112. (Fig.1.1)

• Q1 2026 vs. Q4 2025: Sales jumped 25.8%, from 89 to 112. (Fig. 1)

Greater Downtown Miami Luxury Condo Quarterly Sales: 2015–2026 - Fig. 2.1

Greater Downtown Miami Luxury Condo 12-Month Sales with Trendline - Fig. 2.3

After spending all of 2025 in negative territory, the 12-month sales trendline in Fig. 2.3 returned to a flat trajectory in Q1 2026. Combined with our day-to-day observations of the luxury housing market, this suggests Greater Downtown Miami is well positioned to close the traditionally high-paced second quarter on a stable, potentially stronger, note.

Q1 2026 Greater Downtown Miami Luxury Condo Price Trends

Positively diverging from the overall market trend, where price per square foot declined and median prices increased year-over-year, Greater Downtown Miami reported the following: 

• Q1 2026 vs. Q1 2025: Price per square foot improved marginally by 1.4%, from $925 to $938. (Fig. 1.1)

• Q1 2026 vs. Q4 2025: Price per square foot increased 12.1%, from $837 to $938. (Fig. 1)

• Q1 2026 vs. Q1 2025: Median sales price increased 11.9%, from $1,430,000 to $1,600,000. (Fig. 1.1)

• Q1 2026 vs. Q4 2025: Median sales price jumped 14.3%, from $1,400,000 to $1,600,000. (Fig. 1)

Notably, the 11.9% gains in median sales price outpaced the 1.4% increase in price per square foot. This sharp contrast suggests buyers showed a stronger preference for larger and newer luxury condos.

Q1 2026 Greater Downtown Miami Luxury Condo Days-on-Market Trends

Days on market aligned with the increases found in the overall Miami market:

• Q1 2026 vs. Q1 2025: Luxury condos spent 11 more days on the market, recording a 13.8% increase. (Fig. 1.1)

• Q1 2026 vs. Q4 2025: Luxury condos spent eight more days on the market, reporting a 9.6% increase. (Fig. 1)

Q1 2026 Greater Downtown Miami Luxury Condo Inventory Trends

• Q1 2026 vs. Q1 2025: Inventory remained flat at 26 months. 

• Q1 2026 vs. Q4 2025: Inventory was down from 29 to 26 months, posting a 10.3% decrease. (Fig. 5)

In this buyer’s market, buyers continued to benefit from a wide inventory selection and greater negotiating leverage, while sellers faced heightened competition and pressure to adjust prices. 

Although Q2’s seasonal demand should help absorb a significant portion of available listings, new-construction deliveries and the traditionally softer second half of the year are expected to sustain higher inventory levels, which will most likely remain elevated throughout 2026.

Greater Downtown Miami Luxury Condo Months of Inventory from Mar. 2019–Mar. 2026 - Fig. 5

A balanced market has only 9–12 months of inventory. The months of inventory are calculated as the number of active listings plus the number of pending listings divided by the average number of deals in the last 6 months.

— Edgewater Luxury Condo Market Trends in 2026 (Zip Codes 33132 & 33137)

Q1 2026 Edgewater Sales Trends

The luxury condo segment in Edgewater reflected the overall Miami market trend of increases in both quarter-over-quarter and year-over-year sales volume:

• Q1 2026 vs. Q1 2025: Sales soared 120%, from 20 to 44, leading all Miami markets. (Fig. 6.1)

• Q1 2026 vs. Q4 2025: Sales surged 57.1%, from 28 to 44. (Fig. 6)

Edgewater Luxury Condo Quarterly Sales 2015–2026 - Fig. 7.1

Q1 2026 Edgewater Sales-Price & Price-per-Square-Foot Trends

Positively deviating from the overall market trend, where price per square foot declined and median prices increased year-over-year, luxury condos in Edgewater reported the following statistics:

• Q1 2026 vs. Q1 2025: Price per square foot increased 1.8%, from $961 to $978, a near-peak figure and the highest in Greater Downtown Miami. (Fig. 6.1)

• Q1 2026 vs. Q4 2025: Price per square foot increased 2.5%, up from $954 to $978. (Fig. 6)

• Q1 2026 vs. Q1 2025: Median sales price increased 4.1%, from $1,548,750 to $1,612,500. (Fig. 6.1)

• Q1 2026 vs. Q4 2025: Median sales price declined 9.2%, from $1,775,000 to $1,612,500. (Fig. 6)

Q1 2026 Edgewater Days-on-Market Trends

Consistent with the overall market trend of increases in both quarter-over-quarter and year-over-year numbers, Edgewater reported the following:

• Q1 2026 vs. Q1 2025: Luxury condos spent four days longer on the market, reporting a 4% increase. (Fig. 9)

• Q1 2026 vs. Q4 2025: Luxury condos spent 42 days longer on the market, posting a 64.6% increase.

Edgewater Luxury Condo Quarterly Days on Market 2018–2026 – Fig. 9

Q1 2026 Edgewater Inventory Trends

• Q1 2026 vs. Q1 2025: Inventory went down from 43 to 21 months, recording a 51.2% decline.

• Q1 2026 vs. Q4 2025: Inventory was down from 26 to 21 months, reporting a 19.2% decrease. (Fig. 10)

Edgewater once again posted the lowest inventory in the Greater Downtown Miami area, although levels were much higher than the balanced 9–12-month range. The neighborhood followed the overall Miami market trend of lower quarter-over-quarter and year-over-year inventory.

Edgewater Luxury Condo Months of Inventory from Mar. 2019–Mar. 2026 - Fig. 10

A balanced market has only 9–12 months of inventory. The months of inventory are calculated as the number of active listings plus the number of pending listings divided by the average number of deals in the last 6 months.

— Q1 2026 Brickell Luxury Condo Market Trends for 2026 (33129, 33130, and 33131)

Q1 2026 Brickell Sales Trends

Mostly aligning with the overall Miami market trend of increases in both quarter-over-quarter and year-over-year activity, Brickell reported the following:

• Q1 2026 vs. Q1 2025: Both quarters reported 57 sales. (Fig. 11.1)

• Q1 2026 vs. Q4 2025: Sales increased 14%, up from 50 to 57. (Fig. 11)

Brickell maintained its streak (since 2021) as the top contributor to quarterly sales volume in Greater Downtown Miami.

Q1 2026 Brickell Sales-Price & Price-per-Square-Foot Trends

Positively diverging from the overall market trend, where price per square foot declined and median prices increased year-over-year, luxury condos in Brickell reported the following:

• Q1 2026 vs. Q1 2025: Price/sq. ft. increased 1.4%, from $937 to a new all-time high of $950. (Fig. 11.1)

• Q1 2026 vs. Q4 2025: Price/sq. ft. surged 16.7%, from $814 to $950. (Fig. 11)

• Q1 2026 vs. Q1 2025: Median sales price increased 13.9%, from $1,470,000 to $1,675,000. (Fig. 11.1)

• Q1 2026 vs. Q4 2025: Median sales price soared 34%, up from $1,250,000 to $1,675,000. (Fig. 11)

Q1 2026 Brickell Days-on-Market Trends

• Q1 2026 vs. Q1 2025: Luxury condos spent eight more days on the market, recording a 13% increase. (Fig. 14)

• Q1 2026 vs. Q4 2025: Luxury condos spent 12 fewer days on the market, reporting a 13.8% decrease. 

Brickell emerged as the fastest-paced market in Greater Downtown, with luxury condos taking the least median days (75) from listing to closing.

Brickell Luxury Condo Quarterly Median Days on Market 2018–2026 - Fig. 14

Q1 2026 Brickell Inventory Trends

Partly aligning with the overall Miami market trend of lower quarter-over-quarter and year-over-year inventory, luxury condos in Brickell reported the following statistics: 

• Q1 2026 vs. Q1 2025: Inventory was up from 24 to 28, posting a 16.7% increase.

• Q1 2026 vs. Q4 2025: Inventory was down from 29 to 28 months, reporting a 3.4% decline. (Fig. 15)

Brickell Luxury Condo Months of Inventory from Mar. 2019–Mar. 2026 - Fig. 15

A balanced market has only 9–12 months of inventory. The months of inventory are calculated as the number of active listings plus the number of pending listings divided by the average number of deals in the last six months.

— Q1 2026 Downtown Miami Luxury Market Trends (33128, 33132 & 33136)

Q1 2026 Downtown Miami Sales Trends

• Q1 2026 vs. Q1 2025: Sales declined 26.7%, down from 15 to 11. (Fig. 16.1)

• Q1 2026 vs. Q4 2025: Sales remained flat at 11 transactions. (Fig. 16)

These statistics contract the increases in both quarter-over-quarter and year-over-year activity found in the overall Miami market.

Q1 2026 Downtown Miami Sales-Price & Price-per-Square-Foot Trends

Positively deviating from the overall market trend, where price per square foot declined and median prices increased year-over-year, luxury condos in Downtown Miami reported the following:

• Q1 2026 vs. Q1 2025: Price/sq. ft. increased 2.8%, up from $710 to $730. (Fig. 16.1)

• Q1 2026 vs. Q4 2025: Price/sq. ft. increased 2.3%, up from $713 to $730. (Fig. 16)

• Q1 2026 vs. Q1 2025: Median sales price increased 12.5%, up from $1,200,000 to $1,350,000. (Fig. 16.1)

• Q1 2026 vs. Q4 2025: Median sales price increased 5.9%, up from $1,275,000 to $1,350,000. (Fig. 16)

Downtown retained its position as Miami’s most accessible luxury condo submarket.

Q1 2026 Downtown Miami Days-on-Market Trends

Following the overall market trend of increases in both quarter-over-quarter and year-over-year numbers, Downtown Miami reported the following statistics: 

• Q1 2026 vs. Q1 2025: Luxury condos spent 33 more days on the market, posting a 46% increase. (Fig. 19)

• Q1 2026 vs. Q4 2025: Luxury condos spent eight more days on the market, reporting an 8.3% increase. 

Downtown Miami Luxury Condo Quarterly Median Days on Market 2018–2026 - Fig. 19

Q1 2026 Downtown Miami Inventory Trends

• Q1 2026 vs. Q1 2025: Inventory was up from 42 to 46 months, a 9.5% increase. 

• Q1 2026 vs. Q4 2025: Inventory was down from 58 to 46 months, a 20.7% decrease. (Fig. 20)

Downtown Miami once again recorded the highest inventory levels in both Greater Downtown Miami and the overall Miami market; it was also partly consistent with the latter’s trend of lower quarter-over-quarter and year-over-year inventory. 

With supply far exceeding the balanced-market benchmark of 9–12 months, buyers continue to benefit from maximum negotiating leverage and an extensive selection of luxury properties.

Downtown Miami Luxury Condo Months of Inventory from Mar. 2019–Mar. 2026 - Fig. 20

A balanced market has only 9–12 months of inventory. The months of inventory are calculated as the number of active listings plus the number of pending listings divided by the average number of deals in the last six months.

— Q1 2026 Greater Downtown Miami Market Conclusion

Greater Downtown Miami delivered the second-strongest sales performance in Q1 2026, with a 21.7% year-over-year increase in sales. Comparatively, Coral Gables-Coconut Grove (combined) posted a 45% increase while Miami Beach trailed behind at just 5%. Much of this growth was driven by Edgewater, where sales surged 120% year-over-year. 

As the effects of stabilizing HOA fees, lower mortgage rates, improved purchasing power for international buyers due to a weaker U.S. dollar, and added exposure from the FIFA World Cup 2026 continue to filter through the market, we expect Greater Downtown Miami to maintain a healthy momentum heading into the traditionally high-powered second quarter.

Recently constructed luxury inventory, such as Una Residences and Aria Reserve (South Tower), helped boost the neighborhood’s overall price per square foot, with Brickell and Edgewater reaching peak and near-peak numbers at $950 and $978, respectively.

Based on our expertise as Miami luxury-housing experts, we anticipate stable-to-soft pricing conditions ahead, with the most pronounced pressure likely occurring in Downtown Miami's investor-driven and short-term-rental-friendly condo segment. 

Days on market increased year-over-year, closing at 91 days, while months of inventory returned to 26 months after rising slightly in December. We expect inventory levels to remain above the 9–12-month range through the end of 2026 and into early 2027.

— Q1 2026 Greater Downtown Miami Market Predictions

• We expect the FIFA World Cup 2026 to deliver a three-fold benefit to Miami’s luxury housing market with stronger luxury rental demand, modest tailwinds for Q2 and Q3 sales, and additional attention on Miami’s collection of short-term-rental-friendly condos.

• We expect the continued arrival of influential firms and business leaders to further strengthen Miami’s status as a global center for wealth and business, enhancing its appeal among executives, entrepreneurs, and high-income homebuyers.

• We expect Florida’s no-state-income-tax structure and potential expansion of homeowner benefits to continue attracting affluent buyers from higher-tax states such as New York, California, and Seattle.

• We further anticipate foreign investment in Miami real estate to build on the $3.2 billion recorded in 2025, supported by a weaker U.S. dollar and improved value opportunities across the market.

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