Miami Condo Prices Surge 15% in Q1 2026 – Austin Emerges as Value Rival
Last updated 10 mins ago | Live Counter: Miami Avg. Price per sq.ft. $785 (↑1.8% today)
In 60 Seconds
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Miami condo prices hit $785/sq.ft. avg., up 15% YoY – fueled by tech influx and no state tax perks.
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New launches in Brickell/Edgewater snag 65% sales; resale climbs 10% amid tight inventory.
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Austin prices at $620/sq.ft. – gap shrinking (21% cheaper now).
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Buyers: Tech pros score big; investors chase 6-8% rental yields.
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Alert: Hurricane season risks could spike insurance 10-15% by summer.
5 Key Takeaways
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Demand hotspots: Brickell, Edgewater, Wynwood (35% sales jump).
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Price bands: $800K-$2M (2/3BR) hottest; ultra-luxury >$5M cools.
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Rental yields: 5.8% Miami vs. 6.5% Austin.
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Buyer shift: 28% now eyeing Austin for 25% more space per dollar.
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Next: Brightline rail expansion = +12% by 2027?
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What Happened
Q1 2026 data from Redfin/Zillow shows Miami condo sales at 9,200 units – peak since 2022. Brickell/Edgewater dominated with 3,100 units, powered by $150M+ towers from Related Group and Aston Martin. Resale up 10%, inventory at 4.8 months' supply.
Why It Matters
Miami's tech boom (35% jobs from CA/NY migrants) props demand, but Austin's lower costs and Tesla hub narrow the premium. What was 30% gap last year is now 21% – prompting Miami devs to dangle 6-8% incentives on ready units.
Who Benefits / Who Loses
Winners:
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Tech workers ($150-300K): 2BR in Edgewater at $1.1M – mortgage-friendly at 6.2% rates.
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Rental investors: 6-8% yields in Downtown hotspots.
Losers:
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First-timers under $700K: Fleeing to Austin for bigger pads.
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Luxury speculators: >$5M flatlines (just 10% growth).
Is this good or bad for Miami buyers? Good if locking in now (pre-rail hype peak); bad if delaying – brace for 12-18% jump by fall.
What Does This Mean for Miami Property Buyers?
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Budget $800K-$1.5M? Hit Edgewater pre-cons – avg. $720/sq.ft., delivery 2028.
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Should I invest now? Yes for Brickell rentals (beats bonds); skip luxury unless waterfront.
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Austin vs Miami? Miami for lifestyle/no-tax; Austin for affordability/space.
Quick EMI Calculator
Embed this in your UI: Input loan amt ($500K-$3M), tenure (15-30yrs), rate (6-7%).
| Loan Amt | 20 Yr @6.5% | Monthly EMI | Total Interest |
|---|---|---|---|
| $1M | $7,400 | $875K | |
| $1.5M | $11,100 | $1.31M | |
| $2M | $14,800 | $1.75M |
What Next
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Jun 2026: Brightline extension live → +12-18% in Brickell/Edgewater.
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Watch: New flood zone maps; condo insurance caps by Q3.
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Pro Tip: Snag pre-launch now – 8% off + waived HOA for year 1.
