Market Overview — November 2026
The latest MIAMI REALTORS data (through September 2026) shows a market splitting in two. Miami-Dade condo and townhome closed sales were up 0.6% from a year earlier, while single-family closed sales fell 4.7%. Across South Florida, active inventory is down 13% — the eighth straight monthly decline — and mortgage rates have climbed into the mid-7% range.
The top end isn't following the rate story. South Florida $1M+ home sales are up about 20% year to date, and $10M+ sales are up 40% to 407, within reach of the 2021 full-year record of 436. The clearest signal is on Brickell Key, where The Residences at Mandarin Oriental Miami reported $1.7 billion in condos sold before groundbreaking, per Insurance Journal's October 5 report. Residences there run roughly $8–10M, and two penthouses sold for about $50M each. Notably, about 65% of those buyers are domestic and roughly 60% plan to use their home as a second residence — a reminder that this cycle's top-end demand isn't only international.
For neighborhood-level pricing, see the Market Data page, which now carries a dated Market Pulse section with the figures above.
What Higher Rates Mean for Pre-Construction
Pre-construction doesn't remove interest-rate risk — it postpones it. With staged deposits (typically 20–30% before closing) and closings often two to four years out, most buyers don't take out a mortgage until delivery. That buys you time, but it also means you're underwriting a future loan at an unknown future rate. The practical approach: qualify yourself at today's rates, treat any improvement as upside, and don't count on a rate drop to make the numbers work.
If you're paying cash or putting down a large deposit, the rate environment matters far less — which is part of why scarcity-driven buildings at the top end keep selling. If you'll rely on financing, ask your lender early about the condo project review requirements that changed in August, when Fannie Mae and Freddie Mac retired their Limited and Streamlined Review processes.
Watch-List Check-In — Anantara, 9900 West, Surf Row
Here's where the three projects I've been tracking stand.
Anantara Residences Miami — Edgewater
Public sales are still described as launching later in 2026, with ONE Sotheby's International Realty as the exclusive sales team. The 50-story tower at 3601 Biscayne Boulevard is planned as 100 private condominiums, 120 resort residences, and 50 hotel suites that can be placed in a hotel program, with delivery targeted for 2030 and pricing from about $1.8M. Registered buyers see pricing and availability first. Full guide to Anantara Miami →
9900 West — Bay Harbor Islands
A late-stage close-out: 19 of 23 residences have sold, and 4 remain, from $1,995,000. The remaining units are the largest and most expensive, which is typical of closeout inventory at a boutique building. Delivery was originally targeted for summer 2026; I'd treat that timeline as unconfirmed, and I can get you the current closing schedule. View current availability →
Surf Row Residences — Surfside
A 24-residence boutique building with limited residences remaining, 1–3BR layouts from $1.375M, and delivery targeted for 2027. Availability is moving, so ask for the current list of open units. View current availability →
"At a boutique building the last few residences go quietly — if one is on your list, ask for current availability before assuming it is still open."
Still Unconfirmed — Aria Reserve Skyclub & Prosper & Versluys
Aria Reserve Skyclub in Edgewater (roughly 430 residences planned) and the planned Prosper & Versluys tower in Brickell both remain unconfirmed for sales. I'll post the moment pricing is real.
Other Active Projects
The Standard Residences Brickell
Still the best value in Brickell's pre-construction market at the $600K–$1.2M tier — studios through 3BR penthouses on the Miami River. View pricing and floor plans →
888 Brickell by Dolce&Gabbana
Miami's tallest tower — 259 residences across 82 floors, each custom-configured in collaboration with Dolce&Gabbana's design team. View details →
St. Regis Residences Miami
152 ultra-private residences in South Brickell, designed by Robert A.M. Stern, from $5.6M. View full details →
619 Brickell by Nobu & Foster+Partners
71 stories, 5 residence collections, Nobu hospitality, Foster+Partners architecture. Completion expected 2029. View 619 Brickell details →
Get Current Availability on Any Development
I work directly with the sales teams at every project listed here. Verified current pricing and floor plans — at no cost to you as the buyer.
Request Pricing & AvailabilityWhat Buyers Are Asking Right Now
"Should I wait for rates to come down before buying pre-construction?"
No one can time rates. The more useful question is whether the building, the price, and your deposit structure work at today's rates — and whether you'd still be comfortable if rates stay where they are at closing. If the answer is yes, waiting mainly risks losing your pick of floor plans, especially with inventory down 13%.
"How much do I need to put down?"
Most Miami pre-construction projects are structured at 20–30% down, in staged deposits — typically 10% at contract, 10% at groundbreaking, and the balance at closing. Terms vary by project, so ask for the specific schedule.
"Does working with you cost me anything?"
In Miami new construction the developer typically pays the buyer's agent commission, so representation costs you nothing extra.
Looking Ahead — December
I'll update Anantara the moment public sales open and post any movement at 9900 West and Surf Row. I publish this update monthly. Subscribe via the form on this page and I'll send it directly, along with any off-market opportunities I can't post publicly.