Miami condos by neighbourhood in September 2026, from Coconut Grove to Downtown

Published 28 September 2026 at 1:15 pm GMT+8.

Brickell's condominium towers across Biscayne Bay in late-afternoon light, with low clouds above and calm water in front. — Brickell's condo towers across Biscayne Bay, photographed in April 2025. WIRE counted 1,184 condos for sale there on 24 September 2026.

Asking prices, not sales

For a second-home buyer weighing a Miami condo, the share of listings that already carry a signed contract is one of the first numbers worth checking, because it shows how much of what is on offer is actually finding buyers.

The neighbourhood counts in this piece come from WIRE Miami's September 2026 condo market report, read on 28 September 2026. WIRE Miami is the trading name of Waterfront Investment Real Estate, LLC, a licensed Florida real estate brokerage that represents buyers on the pre-construction and new-construction projects listed at the end of its report. This piece therefore uses the report for its counts and figures only, and the reading of those figures is Realtopedia's own.

On 24 September 2026, WIRE counted 5,739 condos for sale across Brickell, Downtown Miami, Edgewater, Miami Beach, Sunny Isles Beach, Coconut Grove, Bal Harbour and Bay Harbor Islands, with a median asking price of $680,000. The data come from Miami Association of Realtors MLS listings on that one date. They show what sellers are asking and which listings have a contract, and they say nothing about the prices at which units finally sell.

Two further points limit what the report can show. Miami Beach, Sunny Isles Beach, Bal Harbour and Bay Harbor Islands are counted within their municipal limits, but Brickell, Downtown Miami, Edgewater and Coconut Grove follow boundaries that WIRE defines for its report and its property search rather than any official neighbourhood map. This is also WIRE's first edition, and the report says month-on-month comparisons begin with the October report, so none of these figures can yet show whether a neighbourhood is getting tighter or softer.

For closed sales, the reference is the Miami Realtors market summary for Miami-Dade County townhouses and condos in August 2026, released on 16 September 2026 and read on 28 September 2026. It shows 911 closed sales at a median sale price of $408,000, 0.5% below August 2025. The two medians should not be subtracted from each other. WIRE covers eight central and beachfront neighbourhoods that include 667 listings asking $3 million or more, while Miami Realtors covers the whole county, includes townhouses and counts only units that closed. The gap between $680,000 and $408,000 is therefore not a measure of the discount buyers are receiving.

What 8.8% under contract means

Of the 6,296 condos in WIRE's count that were either for sale or under contract on 24 September, 557 had an accepted offer that had not yet closed, which is 8.8%. Put plainly, about one listing in eleven had a buyer lined up. WIRE's count of new listings between 1 and 24 September is 1,320, of which 80 had gone under contract by the 24th.

County-wide, the market still favours buyers but is tighter than a year ago. Miami Realtors reports 12.1 months of condo and townhouse supply in Miami-Dade in August 2026, down from 14.0 a year earlier, and its release treats six to nine months as balanced and the condo figure as a buyer's market. Contracts are picking up. The same summary shows 1,032 new pending condo and townhouse sales in August, up 4.0% year on year, and the median closed sale reached 94.0% of its original list price, up from 92.4%. All three figures were read on 28 September 2026.

Set against those county figures, an 8.8% contract share across the eight neighbourhoods fits a market where buyers have plenty of choice. The two sources measure different things, so the comparison shows a direction rather than a precise match.

What 88 days on market tells a buyer

WIRE's 88 days is the median MLS days on market for listings still active on 24 September, leaving out 672 listings with no figure recorded. Half have been up longer than that, and more than a quarter, 27.3%, had passed the six-month mark. This measures how long unsold stock has been waiting, which differs from how long sold stock took to find a buyer. For Miami-Dade condos and townhouses that closed in August 2026, Miami Realtors reports a median of 66 days from listing to contract.

A long day count is a reason to ask questions. A condo listed for 200 days where similar units go under contract within about two months may be priced above what buyers have been willing to pay, or it may have an issue that shows up in the association's documents. Ask the listing agent for the full listing history, including any earlier listings of the same unit and every change to the asking price, and compare it with recent closed sales in the same building.

The neighbourhood split

The table sets out WIRE's figures, ordered from the highest share under contract to the lowest. All prices are asking prices, and the neighbourhood boundaries are WIRE's.

Neighbourhood	Condos for sale	Median asking price	Under contract	Share under contract	Median days on market
Coconut Grove	125	$2,499,999	24	16.1%	75
Bay Harbor Islands	150	$1,291,500	25	14.3%	96
Miami Beach	1,641	$549,000	199	10.8%	84
Edgewater	602	$699,500	63	9.5%	69
Bal Harbour	122	$2,915,000	12	9.0%	110
Brickell	1,184	$739,000	106	8.2%	83
Sunny Isles Beach	1,047	$665,000	92	8.1%	100
Downtown Miami	868	$625,000	36	4.0%	98
All eight	5,739	$680,000	557	8.8%	88

Source: WIRE Miami, Miami Condo Market Report September 2026, data as of 24 September 2026, read 28 September 2026. Share under contract is under contract divided by active plus under contract.

Coconut Grove has the highest share under contract, at 16.1%, and its median asking price of $2,499,999 makes it one of the two most expensive, after Bal Harbour at $2,915,000. It is also one of the smallest markets in the table, with 125 condos for sale, 24 under contract and 31 new listings in September, and 50 of those 125 listings ask $3 million or more. With numbers that small, a handful of contracts more or fewer would move the share by several percentage points, so one month's rate says little about how much room a buyer in the Grove has. The closed-sale history of the specific building is a better guide there. Bay Harbor Islands, at 14.3%, has the next-highest share.

Downtown Miami sits at the other end. Of its 904 listings for sale or under contract, 36 had a contract, or 4.0%, and 29.2% of its active listings had passed the six-month mark. Much of that stock is concentrated in a few towers. WIRE's list of the ten buildings with the most condos for sale includes five in Downtown, which are Paramount Miami Worldcenter (68 listings), Gale Residences (59), The Elser Hotel and Residences (57), Aston Martin Residences (49) and E11EVEN Hotel and Residences (47). A buyer can compare many asking prices within one building there. The listing data cannot show how far below asking those units eventually sell, so the county's 94.0% sale-to-original-list figure remains the only measured guide, and it is a county-wide median rather than a Downtown one.

Bal Harbour has the longest median time on market, 110 days, and 39.4% of its listings had passed the six-month mark, yet its 9.0% share under contract is close to the eight-neighbourhood rate of 8.8%. A long listing is therefore less unusual in Bal Harbour than in Edgewater, where the median is 69 days, the shortest of the eight. In Sunny Isles Beach, 31.5% of listings are older than six months and the median is 100 days. The lowest median asking price in the table, $549,000, belongs to Miami Beach, which also has the most listings at 1,641.

How much scope there is to negotiate

The most reliable guide comes from closed sales. Miami Realtors reports that the median Miami-Dade condo or townhouse that closed in August 2026 sold for 94.0% of its original list price. The typical closed sale therefore finished about 6% below the price at which the unit was first listed. That includes any price cuts made while the unit was on the market, so it is not the discount agreed on the day of an offer, and it is a county-wide median. WIRE does not measure reductions from original list price, so no neighbourhood figure is given here.

WIRE also compared the same listings in its 20 and 24 September data refreshes. Asking prices fell on 124 of the 5,555 listings present in both, or 2.2%, with a median reduction of 3.2%. By neighbourhood, 46 of 1,584 Miami Beach listings were cut, or 2.9%, the largest share, and Brickell's median cut of 1.9% was the smallest. Four days is a short window, so these counts show that some sellers are trimming prices, not how much the typical seller will eventually accept.

None of this guarantees a particular price. A long listing history on a specific unit, in a county with about a year's supply, gives a buyer grounds to open below asking. In a building where units have gone under contract quickly, the same approach is more likely to lose the unit. Payment terms matter too. Miami Realtors reports that 50.5% of August condo and townhouse sales in Miami-Dade were paid in cash (read 28 September 2026), so a buyer who needs a mortgage is often up against offers that can close faster and with fewer conditions.

Older buildings and association costs

Florida law adds a check for older stock. Under section 553.899 of the 2026 Florida Statutes, read on 28 September 2026, a residential condo building of three habitable stories or more must have a milestone inspection by 31 December of the year it reaches 30 years of age, or 25 where the local enforcement agency requires it, and every 10 years after. Section 718.112, read on the same date, requires such buildings to have a structural integrity reserve study at least every 10 years, and for budgets adopted on or after 31 December 2024 owners generally cannot vote to fund less than the required reserves for the items it covers. A 2025 change made by HB 913, now section 718.112(2)(f)2.e, allows a temporary pause. For budgets adopted on or before 31 December 2028, if the association completed a milestone inspection in the previous two calendar years, the board may, with the approval of a majority of the total voting interests, pause or reduce reserve contributions for up to two consecutive annual budgets to pay for the repairs the inspection recommends, and a new structural integrity reserve study must be done before contributions resume. Reserves are funded by owners, so a buyer in an older tower should read the latest inspection report, the reserve study and the association budget before settling on a purchase price.

Whether a non-resident can buy, borrow against or hold a Miami condo, and on what terms, is covered in Foreign and non-resident buyer rules.

Realtopedia's correspondents are AI. A human editor reviews every piece before publication. Sources are listed at the end of each article. How we work: About.

Limits

This piece compares asking prices from one WIRE Miami report dated 24 September 2026, WIRE's first edition, with county-wide Miami-Dade closed sales for August 2026, including townhouses. WIRE Miami is a brokerage that represents buyers on new-construction projects, and its boundaries for Brickell, Downtown Miami, Edgewater and Coconut Grove are its own. It is not a forecast or a recommendation to buy.

This is not legal, tax, or investment advice. Confirm with a qualified professional in the relevant place.

Sources

Sources read 28 September 2026.