South of Fifth - If you know Miami real estate, you know
that this small pocket at the southern tip of Miami Beach is in a category all
its own. It is widely considered the most exclusive and most desirable condo
market in all of Miami.
The story for South of Fifth condos in Q1 2026 is one of a
premium market holding its value — and doing so with confidence.
Let me tell you something about South of Fifth that the data
alone can't capture — because understanding this neighborhood is what makes the
market data make sense.
South of Fifth is a beach community — but not in the way
most people think of Miami Beach. It has that rare combination of a relaxed
beach lifestyle with an extremely high-end quality of life.
Geographically, it is stunning. The bay runs along the west
side, the Atlantic Ocean frames the south and the east. You are literally
surrounded by water on three sides.
Add to that some of the best restaurants not just in Miami
but internationally recognized dining destinations right at your doorstep.
Joe's Stone Crab. Prime 112. Milos. This is a neighborhood where the lifestyle
matches the price point — and the market reflects it.
January 2026. Active listings: 153.
Closed Sales = 11.
Months of Supply: 14 Months.
Days on Market: 56 Days.
Median Price per Sqft = $1,520.
Median Price Sold = $3,100,000.
The 14 months of supply is high but at only 56 Days on the
Market and a high Median Price of $3-Million we feel this is still ok.
February. Active Listings grew to 190.
Closed sales = 17, and Months of Supply = 11 Months
Days on Market = 86 days.
Median Price per Square Foot: $1,148
Median Price Sold = $1,390,000.
March. Active listings settled at 183.
Closed Sales= 18 the highest of the quarter.
Months of Supply = 10 Months
Days on Market = 96 Days.
Median Price per Square Foot = $1,080.
Median Price Sold = $1,407,500.
The months of supply improving every month from 14 to 11 to
10 is an encouraging trend — more buyers are entering this market as the
quarter progressed, and we will keep a close eye on whether that trend
continues into the 2nd Quarter.
Now we compare Q1 2025 to Q1 2026:
Active listings: 223 in Q1 2025 versus 183 in Q1 2026.
Closed sales: 54 in Q1 2025 versus 46 in Q1 2026. Fewer
transactions year over year — down 15%. In most markets that would be a red
flag. In South of Fifth, Volume is lower, but what is selling is selling at a
premium.
And here is the number that tells the real story. Price per
square foot: $1,051 in Q1 2025 versus $1,148 in Q1 2026. Up 9% year over year.
In a market with fewer closings, prices still went up. That is the definition
of a market holding its value. Median sold price went from $1,325,000 in Q1
2025 to $1,407,500 in Q1 2026 — up 6%.
Months of supply: flat at 12 months both years. Days on
market: up slightly from 78 to 86 days — properties are taking a little longer
to find their buyer, which in this price range is completely normal. Overall
the numbers here are sending us mixed signals, some metrics are up while others
are down but the sentiment seems to be positive.
Let's close with the price range breakdown for Q1 2026.
With 183 active listings and 46 total closings for the
quarter, the median days on market was 86 days and price per square foot was
$1,148.
The sub-$1 million range had 16 closings — entry-level South
of Fifth, which in any other neighborhood would be considered luxury. The $1 to
$3 million range: 15 closings. The $3 to $5 million range: 10 closings — strong
mid-tier activity. The $5 to $10 million range: 1 closing. And 4 closings in
the $10 to $20 million range.
Nothing closed above $20 million — but with only 3 active
listings in that range, those opportunities exist for the right buyer. And in
South of Fifth, that buyer will come. And March is also when the top sale of
the quarter occurred — one that deserves to be highlighted. A beautifully
remodeled high-floor corner 4 bedroom at Continuum South Tower. Over 5,000
square feet and it sold for $19.9 million or $3,940 per square foot. Continuum
South Tower is one of the most exclusive condo towers in all of South Florida —
and this sale confirms that at the very top of the South of Fifth market, when
the right property comes to market at the right price, buyers are there and
they are willing to pay.
If you are a buyer considering South of Fifth — you have
less inventory to choose from than a year ago, all while Days on market
decreased to 86 and prices seem to be holding. SO be patient to find the condo
for you.
If you are a seller in South of Fifth — the data is
encouraging. Prices are holding and moving up. The $19.9 million sale at
Continuum is a reminder of what this market can deliver when the product is
exceptional and the pricing is right. Overpricing in any market causes
properties to sit — and South of Fifth is no exception. Price correctly,
present your property turnkey in great condition, and the right buyer will find
you.
That is your complete South of Fifth condos market report for Q1 2026. A premium market holding its value — prices up and quality of transactions up to remind everyone why this is Miami's most exclusive condo address.
As I start my 20th year in the Miami real estate market, I can proudly say that our goal in making these videos is to help as many people as we can by sharing real market data to give you a better insight into the local market.