Miami's real estate market is no longer moving in one direction.

While Miami-Dade's overall single-family market remains relatively resilient, neighborhood-level data shows a much more complicated picture. Some Miami neighborhoods have posted double-digit increases in median sale prices, while others have experienced substantial declines.

The biggest surprise is how wide the gap has become.

Recent Redfin data shows median sale prices up 72.5% year over year in Coconut Grove and 65.9% in Little Havana, while several other Miami neighborhoods have recorded double-digit declines.

That divergence makes neighborhood-level analysis increasingly important for buyers, sellers and investors.

Below, we rank 10 Miami neighborhoods and submarkets with some of the largest year-over-year changes in median sale prices based on the latest available 2026 data.

Important: This ranking measures the year-over-year change in median sale price, not the appreciation of an identical home. Neighborhood medians can move sharply when the type, size or price level of properties sold changes. Some smaller neighborhoods also have relatively few transactions, making their percentage changes more volatile.

Miami Home Price Changes at a Glance

Latest neighborhood data available from Redfin, generally based on the three months ending May 2026. Miami Beach City Center and North Beach Town Center are included as defined by Redfin's neighborhood boundaries. Miami Beach is a broader city-level market rather than a traditional neighborhood, so it is included as a benchmark rather than a directly comparable neighborhood.

The numbers reveal an important story: Miami's 2026 market is highly segmented.

The broader Miami market had a median sale price of approximately $652,000, down just 0.44% year over year, according to Redfin. Yet individual neighborhoods ranged from gains of more than 70% to declines approaching 40%.

1. Coconut Grove: Median Sale Price Up 72.5%

Coconut Grove recorded the largest increase in median sale price among the major Miami neighborhoods reviewed.

The median sale price reached approximately $2.92 million, up 72.5% year over year. Median price per square foot also increased 25%, reaching approximately $1,080 per square foot.

At first glance, a 72.5% increase looks extraordinary. And it is—but it should not be interpreted as meaning that every Coconut Grove home suddenly appreciated 72.5%.

Only 42 homes sold in the three-month period represented by the latest Redfin neighborhood data. That relatively small sample means the composition of sales can have a major effect on the median.

Coconut Grove's position at the top of the ranking is nevertheless significant.

The neighborhood continues to attract buyers looking for waterfront properties, larger lots, established residential streets and proximity to Downtown Miami, Coral Gables and Brickell.

What the data suggests

The combination of a high median price and rising price per square foot indicates that the 2026 sales mix has skewed toward higher-value properties.

For investors and sellers, this is a neighborhood where property-level analysis matters far more than relying on the headline median.

2. Little Havana: Median Sale Price Up 65.9%

Little Havana experienced the second-largest increase.

The median sale price reached approximately $622,291, representing a 65.9% year-over-year increase. However, median price per square foot was essentially flat, declining 0.34% to approximately $294.

That difference is extremely important.

If prices were genuinely appreciating at 65.9% across the neighborhood, we would generally expect price-per-square-foot metrics to show a much stronger increase as well.

Instead, the data suggests that the mix of properties selling changed substantially.

Only 21 homes sold in the referenced May period, compared with 18 the previous year.

Why Little Havana remains important

Little Havana sits immediately west of Downtown Miami and continues to benefit from its central location, cultural identity and proximity to Brickell.

For buyers priced out of some of Miami's most expensive neighborhoods, it can also represent a relative-value market.

The headline number therefore deserves attention—but buyers should compare individual comparable sales, price per square foot and property type before concluding that values have risen 65.9%.

3. Miami Beach City Center: Median Sale Price Down 38.1%

The other side of Miami's 2026 market appears in Miami Beach City Center.

Redfin reported a median sale price of approximately $804,729, down 38.1% year over year. At the same time, price per square foot increased an extraordinary 63.5%, reaching approximately $986 per square foot.

Those two numbers appear contradictory—and that is exactly why median sale price should not be viewed in isolation.

A lower median combined with a dramatically higher price per square foot strongly suggests that the properties being sold changed substantially in size, type or configuration.

The number of sales actually increased from 41 to 53 in the referenced period, but that is still a relatively small sample for drawing conclusions about every property in the neighborhood.

What buyers should watch

Miami Beach City Center is a market where price per square foot, building quality, renovation status, ocean access and condo-specific costs can produce very different valuations within a few blocks.

4. Wynwood: Median Sale Price Down 15.2%

Wynwood's median sale price fell to approximately $515,000, down 15.2% year over year.

Interestingly, price per square foot moved in the opposite direction, increasing 3.1% to $589 per square foot.

That again suggests that the median decline does not necessarily mean that individual properties lost 15% of their value.

Wynwood's market is particularly sensitive to the composition of condominium and residential sales because of the neighborhood's significant development activity and relatively small number of transactions in some periods.

Redfin reported only 10 homes sold in the latest three-month period used for the neighborhood statistics.

Why Wynwood matters to investors

Wynwood remains one of Miami's most closely watched urban redevelopment areas.

The neighborhood's value proposition is tied not only to residential demand but also to restaurants, retail, art, hospitality and new development.

For investors, this makes building-level and project-level analysis more useful than neighborhood median prices alone.

5. North Beach Town Center: Median Sale Price Down 13.2%

North Beach Town Center recorded a 13.2% year-over-year decline in median sale price.

The median fell to approximately $444,850, while price per square foot declined 25.3% to approximately $455.

Sales volume was also relatively limited: 11 homes sold in the referenced May period compared with 18 a year earlier.

That makes the headline percentage more volatile than it would be in a neighborhood with hundreds of annual transactions.

Still, the decline is worth watching because North Beach has been the subject of significant redevelopment interest and remains one of Miami Beach's more affordable coastal submarkets relative to South Beach and some luxury areas farther south.

6. Little Haiti: Median Sale Price Up 17.1%

Little Haiti recorded one of the strongest positive price movements in Miami.

The median sale price reached approximately $524,823, up 17.1% year over year.

Even more notable was the movement in price per square foot, which increased 24.1% to approximately $381.

Unlike some of the other large percentage changes in this ranking, the price-per-square-foot increase provides additional evidence that the neighborhood is experiencing meaningful pricing pressure.

However, transaction conditions remain relatively slow.

Homes were taking roughly 139 days to sell in the latest Redfin data, compared with 57 days the prior year.

Why Little Haiti could be one of Miami's most important neighborhoods

Little Haiti occupies a strategic location between several established and rapidly developing areas, including Miami's Upper Eastside, Little River and Wynwood.

Its relative price discount compared with Miami's most expensive neighborhoods continues to make it attractive to buyers and developers looking for long-term upside.

At the same time, investors need to consider flood, insurance and redevelopment risks alongside potential appreciation.

7. South Beach: Median Sale Price Up 15.0%

South Beach posted a 15.0% year-over-year increase in median sale price.

The median reached approximately $1.15 million, while 52 homes sold in the latest May period—an increase of more than 80% compared with the same period a year earlier.

The market remains relatively slow by historical Miami standards, however.

Homes took approximately 135 days to sell, compared with 84 days a year earlier.

This combination—higher prices but longer marketing times—is important.

It suggests that sellers may be achieving higher headline prices while buyers have gained more negotiating power.

South Beach in 2026

South Beach remains one of Miami's strongest global real estate brands, supported by:

• International buyer demand

• Beachfront and ocean-access properties

• Luxury condominiums

• Hospitality and tourism

• Walkability

• Limited land supply

But buyers should look beyond the neighborhood median and evaluate individual buildings carefully, particularly when purchasing a condominium.

8. Little River: Median Sale Price Up 12.5%

Little River recorded a 12.5% increase in median sale price to approximately $472,341.

The bigger story was price per square foot, which rose 35.2% to approximately $363.

Little River's percentage change should be interpreted cautiously because only four homes sold during the referenced May period.

Nevertheless, the neighborhood continues to attract attention because of its location near Little Haiti, Miami's Upper Eastside, the Design District and the broader Wynwood development corridor.

For investors, Little River is particularly interesting because it sits in the transition between established residential Miami and newer development districts.

9. Miami Beach: Median Sale Price Up 8.0%

Across Miami Beach as a whole, the median sale price reached approximately $669,599, up 8.0% year over year.

This broader figure provides useful context for the neighborhood-level swings elsewhere in the article.

Miami Beach recorded 597 home sales in May, up 5.6% from the previous year.

However, the market was taking longer to clear: median days on market increased from 120 to 142 days.

That suggests the Miami Beach market is not simply a story of rapidly rising prices.

Instead, buyers appear to have more time to negotiate, while well-positioned properties can still command substantial prices.

10. Mid Beach: Median Sale Price Up 7.1%

Mid Beach rounded out our list with a 7.1% year-over-year increase in median sale price.

The median reached approximately $827,222, while price per square foot increased an impressive 26.7% to $632.

The neighborhood recorded 165 sales in the latest May period, up 16.2% from a year earlier.

Yet the median days on market also increased to 165 days.

That combination highlights the current Miami luxury market: higher values do not necessarily mean faster sales.

What Is Really Driving Miami's Neighborhood Price Changes?

The data shows that Miami is not experiencing one unified housing market.

Several forces are operating simultaneously.

1. The Condo Market Is Behaving Differently From Single-Family Homes

This is one of the most important distinctions buyers and investors need to understand.

According to MIAMI REALTORS®, the Miami-Dade single-family median sale price increased 3.73% year over year in June 2026, reaching $695,000.

The condo market was considerably weaker.

Miami-Dade townhouses and condominiums had a $431,000 median sale price in June 2026, down 3.1% year over year.

That difference helps explain why neighborhood-level data can look dramatically different depending on the mix of homes being sold.

2. Insurance and HOA Costs Are Changing Condo Economics

Florida's insurance environment continues to influence real estate decisions.

For condo buyers, the purchase price is only one part of the calculation.

Buyers increasingly need to consider:

• Monthly HOA fees

• Building reserves

• Insurance costs

• Special assessments

• Structural inspections

• Reserve studies

• Milestone inspection requirements

• Property taxes

• Financing availability

Two condos selling for the same price can have dramatically different ownership costs.

This is one reason Rility's neighborhood and property-level calculators can become particularly valuable for buyers comparing Miami properties.

3. Miami Is Still Attracting High-Net-Worth Buyers

Miami's luxury market remains unusually strong.

During the first half of 2026, Miami-Dade recorded 24 sales above $30 million, according to reporting on the luxury market—nearly twice the number recorded during the same period a year earlier.

That matters because a small number of ultra-high-value transactions can significantly influence median prices in smaller neighborhoods.

This is another reason why price per square foot and transaction volume should be analyzed alongside median price.

4. Miami's Overall Market Is More Stable Than the Neighborhood Headlines Suggest

The neighborhood numbers can make Miami appear extremely volatile.

At the county level, the picture is more moderate.

MIAMI REALTORS® reported that Miami-Dade single-family home prices reached $695,000 in June 2026, up 3.73% year over year.

Meanwhile, the broader Miami market's Redfin median sale price was approximately $652,110, down just 0.44% year over year.

The conclusion is important:

Miami is not crashing, nor is every neighborhood booming. It is becoming increasingly segmented.

Miami Home Prices vs. the Long-Term Trend

Miami's long-term appreciation story remains significant.

According to MIAMI REALTORS®, the median Miami-Dade single-family home price increased from $172,700 in 2011 to $695,000 in June 2026, representing approximately 302% growth.

The condo market also experienced substantial long-term appreciation. MIAMI REALTORS® reported that the Miami-Dade condo median increased from $113,800 in 2011 to $415,000 in May 2026—approximately 265% growth.

The long-term picture is therefore considerably stronger than the short-term neighborhood volatility suggests.

What Buyers Should Take From the 2026 Data

For buyers, the biggest takeaway is that Miami is no longer a market where the citywide median tells you enough.

A buyer considering Brickell should not use Miami Beach's median as a benchmark.

Someone shopping in Little Haiti should not compare their options with Coconut Grove simply because both are within Miami's city limits.

And a condo buyer should not assume that a 10% discount automatically represents a bargain.

Instead, compare:

1. Median sale price

2. Price per square foot

3. Recent comparable sales

4. Days on market

5. Sale-to-list ratio

6. Inventory

7. HOA fees

8. Insurance costs

9. Property taxes

10. Special assessments

11. Building age and condition

12. Financing availability

What Sellers Should Take From the Data

Sellers should be equally careful about relying on broad market headlines.

A neighborhood may show a 15% increase in median price, but that does not mean a seller can automatically price a property 15% higher.

The strongest pricing strategy should be based on recent comparable properties with similar characteristics.

That means comparing:

• Same neighborhood

• Similar square footage

• Similar property type

• Similar age

• Similar renovation level

• Similar floor/view

• Similar amenities

• Similar HOA structure

• Recent closing dates

In a slower market, overpricing can also have a significant opportunity cost.

Miami Beach, for example, recorded a median of 142 days on market in the latest Redfin data. Mid Beach was at 165 days.

What Investors Should Watch Next

The most interesting Miami neighborhoods may not necessarily be the ones with the biggest percentage increases.

Instead, investors should look for markets where several indicators improve simultaneously.

A stronger investment signal could include:

Rising price per square foot + increasing transaction volume + stable or declining days on market + growing demand.

That combination is generally more informative than a large increase in median sale price alone.

By that measure, neighborhoods such as Little Haiti, Little River and parts of the urban core deserve continued monitoring.

Coconut Grove and South Beach, meanwhile, represent a very different investment proposition: much higher entry prices, strong lifestyle appeal and greater exposure to luxury-market dynamics.

The Bottom Line

Miami's 2026 housing market is becoming increasingly neighborhood-specific.

Coconut Grove and Little Havana recorded extraordinary increases in median sale prices, while Miami Beach City Center and Wynwood moved sharply in the opposite direction.

But the most important lesson is not that prices are rising 72.5% in one neighborhood or falling 38.1% in another.

It is that median sale price alone does not tell the whole story.

Sales volume, price per square foot, property type, inventory, days on market and the mix of properties sold all matter.

For anyone buying, selling or investing in Miami real estate in 2026, the smartest approach is to move from broad citywide averages to property-level and neighborhood-level data.

That is where the real opportunity—and the real risk—is.

Frequently Asked Questions

Which Miami neighborhood has seen the biggest home price increase in 2026?

Among the Miami neighborhoods reviewed using the latest available Redfin data, Coconut Grove had the largest increase in median sale price, rising 72.5% year over year to approximately $2.92 million.

Which Miami neighborhood has seen the biggest decline?

Miami Beach City Center recorded a 38.1% year-over-year decline in median sale price, according to the latest Redfin neighborhood data. However, its price per square foot increased 63.5%, demonstrating why median sale price should not be interpreted as individual-property appreciation.

Are Miami home prices rising in 2026?

The answer depends on the property type and location. Miami-Dade single-family median prices increased 3.73% year over year in June 2026, while the condo and townhouse median decreased 3.1%.

Is Coconut Grove a good place to invest?

Coconut Grove remains one of Miami's highest-value residential markets. Its latest median sale price was approximately $2.92 million, but the 72.5% year-over-year change should be interpreted cautiously because neighborhood medians can be strongly affected by the mix of properties sold.

Is Little Haiti home prices going up?

Yes. Little Haiti's median sale price increased 17.1% year over year to approximately $524,823 in the latest Redfin data. Price per square foot increased 24.1%.

Are Miami condo prices falling?

At the Miami-Dade County level, yes. The median sale price for townhouses and condos was $431,000 in June 2026, down 3.1% year over year.

What is the best way to compare Miami neighborhoods?

Buyers should compare median sale price, price per square foot, recent comparable sales, inventory, days on market, HOA fees, insurance costs, taxes and special assessments rather than relying on one market statistic.

Data & Methodology

This analysis uses the latest publicly available 2026 housing data available at the time of publication.

Neighborhood-level figures are primarily based on Redfin housing-market data, which calculates median sale prices and price-per-square-foot statistics from MLS and/or public records.

County-level market statistics are sourced from MIAMI REALTORS® + RWorld, while long-term Miami price-index context comes from the S&P Cotality Case-Shiller Home Price Index via the Federal Reserve Bank of St. Louis (FRED).

Because neighborhood boundaries and reporting periods differ between data providers, readers should not directly compare every neighborhood statistic with city- or county-level figures.

Most importantly, a change in median sale price is not the same thing as appreciation of an individual property. Median prices reflect the properties that actually sold during the measurement period, meaning changes in the mix of homes sold can materially affect the result. MIAMI REALTORS® explicitly notes this limitation in its market reports.

Last updated: August 2026.