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Miami, once a poster child of the pandemic housing boom, is now facing a dramatic shift. In April, the city had nearly three times as many home listings as buyers, marking one of the steepest imbalances in the country. This glut of inventory is forcing sellers to lower prices and face negotiation realities not seen since before the pandemic.
The broader U.S. market saw nearly 500,000 more sellers than buyers in April, the largest gap in over a decade. But Miami stands out even among overheated Sunbelt cities. While inventory levels in the city have surpassed pre-pandemic norms, demand has cooled sharply, weighed down by mortgage rates above 6.5%, elevated home prices, and a wary buyer pool.
Miami home values have soared more than 60% over the past five years, according to Zillow, pricing many buyers out of the market. At the same time, buyers are increasingly cautious — waiting for further price corrections as inventory builds.
Despite a growing number of active listings Realtor.com reports that May saw the highest number of homes on the market since 2019. Total inventory in Miami is still about 14% below pre-pandemic averages, suggesting the market may be slowly normalizing, not collapsing.
Still, the outlook remains uncertain. Many potential buyers are choosing to wait, expecting further price drops. Meanwhile, sellers, many of whom locked in ultra-low mortgage rates during the pandemic, are entering the market less out of opportunity and more due to external pressures like job relocations, divorce, or financial strain.
In the short term, Miami’s housing market is likely to see continued price softening, longer time on market, and a slow reset of expectations on both sides of the transaction.
Greening Up Matheson Hammock Park
The Green Sports Alliance is an environmentally-focused trade organization that utilizes the influence of sports to promote healthy, sustainable communities. Founded in 2010 by Paul G. Allen’s Vulcan Inc. and the Natural Resources Defense Council, this organization does global events to forward their cause.
On June 10-12, the annual Green Sports Alliance Summit took place in Miami and Matheson Hammock Park was the scene of one of their clean-up efforts. In conjunction with Miami-Dade Parks Department, dozens of volunteers showed up with gloves, grabbers and buckets pulling more than 50 pounds of trash from the shoreline and grounds. Among the volunteers was AY Young, an American musician, singer, songwriter, entertainer, producer, and entrepreneur who is a prominent advocate for environmental sustainability and social impact. His concert series is the longest-running show powered by clean energy in the world. Miami’s own Guiness Book of Records-holder, Earth Day Ambassador and frequent organizer of Biscayne Bay clean-up events Merle “Mermaid” Liivand pitched in explaining that “with love, we can heal our planet and clean our waters and lands.”
Green Sports Alliance Director Diana Dehm remarked, “This event has been a beautiful reflection of what’s possible when passion meets purpose. We are not just creating a movement—we’re cultivating a legacy. From the shores of Matheson Hammock Park in Miami, we witnessed firsthand the impact we can have when we unite through the power of sports. This is about teaming up to build a better, cleaner, more compassionate world. And the most exciting part? We’re just getting started.”
And from my hometown, Philadelphia Eagles Vice President of Fan Experience and Sustainability, Norman Vossschulte was one of the first with something in his trash bucket. The Eagles’ Lincoln Financial Field has the NFL’s largest solar panel array, is LEED Platinum certified, and the Eagles are the first professional sports team in North America to install a hydrogen vehicle refueling station at their stadium. All-in-all, the stadium operates on 100% clean energy.
At the conference, the Green Sports Alliance announced its latest comprehensive resource: the Strategy Playbook, a groundbreaking guide designed to help sports and entertainment organizations embed sustainability into core business strategy.
As billion-dollar stadiums rise and championship moments captivate the world, the climate crisis is quietly emerging as the industry’s toughest opponent. The Strategy Playbook responds to this challenge with a clear message: sustainability isn’t just the right thing to do—it’s a smart business move.
“Every team owner, athlete, and entertainer has beaten the odds to reach the pinnacle of success,” said Roger McClendon, Executive Director of Green Sports Alliance. “They are the A Team; they have the potential to increase revenue, mitigate risks, and provide leadership that results in a legacy of health and prosperity, not just for sport but for all of humanity.”
The Strategy Playbook offers a framework—rather than a technical manual—for creating a sustainability strategy that drives measurable business value. Drawing on expertise from over 30 contributors and leading organizations, including the Florida Panthers, who provided their case study.
Pete’s Barbershop to Close
After more than 60 years in operation and more than two million haircuts, Pete’s Suniland Barbershop is in the history books. They had their last day of operation June 20th. 88-year-old owner Howard Fairfield says he was happy to have served the community so long and to support the families of all the barbers who graced the chairs in the shop. His daughter, Terry, managed the store in recent years and rising rent rates and dwindling patronage finally made it time to hang up the shears for the last time.
Real Estate Update
As of 6/18/25, there were 174 properties for sale in Pinecrest, 10 homes pending sale and 9.2 months of inventory. If you’re ready to move, contact me to get the best local expertise, truthful guidance and realistic expectations. It’s easy to get started at miamihal.com/getstarted. I invite you to view past episodes of my The MiamiHal Real Estate Show at miamihal.com/the-miamihal-real-estate-show to hear from experts and get the latest real estate news.
Hal Feldman (MiamiHal) is a Realtor with RE/MAX Advance Realty. You can contact him with your story ideas or real estate questions at www.MiamiHal.com, Hal@MiamiHal.com or www.facebook.com/MiamiHal
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