Home prices in Miami have remained high due to limited supply and homebuilding shortages. In early 2026, the median sale price was $564,983, a 0.6% decrease from 2025 but a 25.1% increase since 2022. Prices grew steadily from 2022 to 2025, with the largest annual increase of 11.9% in 2024. The market has slowed recently, with affordability expected to improve as wages rise faster than prices.