Miami's condo market in April 2026 showed a clear split: a rental market moving with confidence and a sales market where buyers held the leverage. Across 3,978 MLS transactions tracked by Allioo this month — covering sales and rentals across 13 neighborhoods including Brickell, Edgewater, Downtown Miami, Flamingo / Lummus, South of Fifth, West Avenue, and more — the data points to steady rental absorption, extended days on market for sellers, and meaningful price variation by neighborhood and unit size.
All figures reflect closed and rented transactions, active inventory, and market velocity metrics sourced directly from MLS records. Explore the full interactive data on our condo stats page.
April 2026 Market Snapshot
| Metric | Sales | Rentals |
|---|---|---|
| Total MLS records tracked | 1,544 | 2,434 |
| Closed / Rented transactions | 249 | 699 |
| Active listings | 579 | 1,047 |
| Pending | 106 | 263 |
| Median days on market | 150 days | 45 days |
The rental market cleared units at a pace more than three times faster than sales. With 699 rentals closed across all neighborhoods and a median of 45 days on market, rental demand remained consistent through April. Sales averaged 150 days to close — a signal that buyers are taking their time and sellers are competing more aggressively for attention.
Condo Sales by Neighborhood
Absorption rate reflects the percentage of combined active and closed listings that actually closed during the month. A higher number means the market is moving faster.
| Neighborhood | Closed Sales | Median Sale Price | Median $/sqft | Median DOM | Absorption Rate |
|---|---|---|---|---|---|
| South of Fifth | 32 | $1,130,000 | $1,110 | 150 days | 46% |
| City Center | 6 | $920,000 | $1,027 | 194 days | 43% |
| The Roads | 13 | $975,000 | $556 | 127 days | 25% |
| Brickell | 68 | $695,000 | $704 | 150 days | 23% |
| Midtown | 7 | $584,000 | $537 | 131 days | 37% |
| Edgewater | 41 | $580,000 | $559 | 141 days | 29% |
| Flamingo / Lummus | 33 | $453,700 | $568 | 61 days | 32% |
| Downtown Miami | 28 | $495,000 | $562 | 173 days | 20% |
| West Avenue | 18 | $469,000 | $569 | 67 days | 23% |
| Brickell Key | 3 | $350,000 | $476 | 93 days | 20% |
South of Fifth led the market on price with a $1,130,000 median and $1,110 per square foot — driven by luxury closings along Ocean Drive, Alton Road, and South Pointe Drive. Brickell recorded the highest transaction volume at 68 closings but posted just a 23% absorption rate and 150-day median DOM, reflecting significant inventory competing for buyers. Flamingo / Lummus stood out with 33 closings and only 61 median days on market, making it one of the fastest-moving sales neighborhoods in April.
Condo Rentals by Neighborhood
| Neighborhood | Rented Units | Median Rent | Median $/sqft | Median DOM | Absorption Rate |
|---|---|---|---|---|---|
| Brickell | 233 | $3,500 | $4.06 | 48 days | 35% |
| Flamingo / Lummus | 120 | $2,300 | $3.72 | 37 days | 41% |
| Edgewater | 120 | $3,550 | $3.93 | 42 days | 43% |
| Downtown Miami | 113 | $3,200 | $3.95 | 46 days | 43% |
| South of Fifth | 34 | $3,400 | $4.51 | 37 days | 39% |
| West Avenue | 30 | $2,585 | $4.12 | 38 days | 42% |
| The Roads | 27 | $3,400 | $3.68 | 47 days | 44% |
| Brickell Key | 5 | $4,000 | $3.59 | 76 days | 24% |
| Mid-Beach | 3 | $4,000 | $5.01 | 39 days | 50% |
| Midtown | 6 | $5,750 | $5.08 | 16 days | 33% |
| Wynwood | 6 | $2,200 | $3.03 | 43 days | 24% |
Brickell dominated rental volume with 233 closings. Flamingo / Lummus and Edgewater both closed 120 units — with Flamingo / Lummus posting a faster 37-day median at a more affordable $2,300 median rent, while Edgewater commanded $3,550 at a similar pace. South of Fifth posted the highest rent per square foot at $4.51 among the South Beach neighborhoods, reflecting the premium that the area's waterfront and boutique building stock commands. West Avenue delivered solid value at $2,585 median and 38-day DOM, making it one of the more efficient rental markets in the South Beach area.
Sale Prices by Bedroom Size
| Bedroom | Closed Sales | Median Sale Price | Median $/sqft | Median Size | Avg DOM |
|---|---|---|---|---|---|
| Studio | 10 | $357,000 | $867 | 412 sqft | 277 days |
| 1 Bedroom | 95 | $415,000 | $573 | 780 sqft | 205 days |
| 2 Bedroom | 105 | $795,000 | $678 | 1,198 sqft | 165 days |
| 3 Bedroom | 27 | $1,450,000 | $824 | 1,679 sqft | 180 days |
| 4 Bedroom+ | 6 | $4,500,000 | $1,199 | 3,837 sqft | 301 days |
Two-bedroom units led sales volume at 105 transactions with a median of $795,000 and 165 days on market. The jump from 2BR to 3BR is steep — median price nearly doubles to $1,450,000 — reflecting the luxury profile of most 3-bedroom condo inventory across Miami's core neighborhoods. Studios are sitting the longest at 277 median days, a signal that buyers are not finding enough value at current studio price points relative to 1BR options.
Rental Rates by Bedroom Size
| Bedroom | Rented Units | Median Rent | Median $/sqft | Median Size | Avg DOM |
|---|---|---|---|---|---|
| Studio | 42 | $2,250 | $4.02 | 500 sqft | 46 days |
| 1 Bedroom | 238 | $2,900 | $3.74 | 759 sqft | 58 days |
| 2 Bedroom | 185 | $4,200 | $3.81 | 1,123 sqft | 76 days |
| 3 Bedroom | 36 | $7,900 | $4.99 | 1,645 sqft | 120 days |
| 4 Bedroom+ | 6 | $17,500 | $7.60 | 2,584 sqft | 94 days |
One-bedroom units drove the most rental volume in April with 238 transactions at a median of $2,900 per month. Three-bedroom rentals moved slower at 120 median days, aligning with a smaller renter pool for larger units across all neighborhoods.
Most Active Buildings in April 2026
| Building | Neighborhood | Type | Closed | Median Price | Absorption Rate | Avg DOM |
|---|---|---|---|---|---|---|
| Opera Tower | Edgewater | Rental | 17 | $2,600/mo | 49% | 57 days |
| Paramount Miami Worldcenter | Downtown Miami | Rental | 14 | $7,600/mo | 48% | 56 days |
| 1300 S Miami Avenue | Brickell | Rental | 12 | $3,600/mo | 55% | 41 days |
| Canvas | Downtown Miami | Rental | 11 | $3,200/mo | 69% | 66 days |
| Aston Martin Residences | Brickell | Rental | 11 | $3,850/mo | 44% | 142 days |
| 1800 Club | Edgewater | Rental | 9 | $4,400/mo | 75% | 44 days |
| Icon Brickell II | Brickell | Rental | 9 | $3,800/mo | 53% | 79 days |
| Quantum on the Bay | Edgewater | Rental | 8 | $4,213/mo | 57% | 28 days |
Canvas in Downtown Miami recorded the highest absorption rate among high-volume buildings at 69%. Quantum on the Bay was the fastest mover at just 28 average days. 1800 Club in Edgewater led all tracked buildings with a 75% absorption rate. Aston Martin Residences showed strong demand at 11 closings but a longer 142-day average reflecting its premium price point and lease-up phase.
What the Data Means
The April numbers reinforce a pattern building through early 2026: Miami's rental market is functioning efficiently across all neighborhoods while the sales market has slowed to a pace that favors patient buyers. Extended days on market across almost every sales neighborhood — 150 days in Brickell, 173 in Downtown Miami, 194 in City Center — tell a consistent story. Sellers who priced aggressively in prior years are now competing in a market where buyers have both options and time.
The South Beach neighborhoods — Flamingo / Lummus, South of Fifth, and West Avenue — paint a nuanced picture on the rental side. Flamingo / Lummus moved the most units at 120 closings with a 37-day median, but at a $2,300 median rent it is the most affordable of the three. South of Fifth commands the highest price per square foot at $4.51, and West Avenue sits in between as the value play at $2,585 median. For investors comparing these sub-markets, the data suggests South of Fifth delivers the strongest per-square-foot return on premium units while Flamingo / Lummus offers the fastest velocity at a lower price point.
On the sales side, Flamingo / Lummus remains the exception — 33 closings at a 61-day median DOM is significantly faster than any other South Beach neighborhood and reflects strong buyer interest in the $400,000 to $600,000 price range that dominates that area.
Explore neighborhood trends, building-level stats, and bedroom breakdowns updated monthly. View Miami Condo Stats by Neighborhood and Building.
Data Disclaimer: The figures in this report were pulled directly from the Miami MLS and analyzed by Allioo. While we make every effort to ensure accuracy, MLS data is agent-entered and may contain errors, omissions, or inconsistencies. This report is intended for informational purposes only and should not be relied upon as a definitive source for any financial or real estate decision. Allioo is a licensed real estate brokerage in Florida.