In short, the answer is YES.

When the February 2025 data was released, it confirmed what many in Miami were already sensing: yes, the market had noticeably slowed, especially in the condo sector. Sales volume dipped, inventory climbed and buyers became more selective. The article, published by the South Florida Business Journal, also featured insight from Eddie Blanco, Chairman of the Board for the MIAMI Association of REALTORS and founder of Stratwell, who spoke to the shift and what it signaled for the year ahead. While prices did not fall sharply, the pace of the market was clearly transitioning into a calmer, more balanced environment.

What the Early 2025 Numbers Showed

The February data showed that Miami’s fast moving market was cooling. The most dramatic change appeared in the condo sector, while single family homes also experienced slower activity.

Key observations included

• Total residential sales declined compared to the previous year

• Single family home sales fell, but at a moderate pace

• Condo sales dropped significantly as inventory expanded

• Homes spent more time on the market

• Prices for both homes and condos still inched upward despite slower volume

This blend of slower activity yet rising prices reflected a shift in buyer behavior rather than declining property value.

Why the Market Slowed

The slowdown in February was influenced by several factors.

1. Buyers became more careful

Insurance costs, association considerations and long term affordability pushed buyers to take a more thoughtful approach.
Many spent additional time comparing properties instead of moving quickly.

2. Inventory continued to rise, especially condos

More options meant less pressure.
The days of immediate offers had begun to fade.

3. Higher interest rates influenced financed buyers

Even though Miami has a strong cash buyer presence, the portion of buyers using financing still felt the weight of elevated rates.

4. Condo specific concerns played a major role

Older buildings, rising maintenance costs, special assessments, and association related considerations made buyers more cautious in this category.

What This Meant for Homeowners and Buyers

For homeowners

A slower market did not mean a weak one.
Well prepared homes still performed strongly, but strategy mattered.
Pricing realistically, improving condition and presenting the home well became essential.
Eddie emphasized in the article that sellers who understand the new pace of the market gain a clear advantage.

For buyers

The shift worked in their favor.
More choices, more negotiation room and more time to evaluate properties offered buyers an opportunity that had been missing during the peak years.
Even so, desirable homes still attracted attention quickly, which made readiness important.

A Market in Transition, Not in Decline

The February 2025 slowdown marked the beginning of a more balanced stage for Miami real estate.
The fundamentals remained solid, but both buyers and sellers were adjusting to a steadier, more thoughtful market rhythm.
Eddie’s feature in the South Florida Business Journal article offered helpful context on how this shift was unfolding in real time and what it meant for the months ahead.

Understanding this transition makes the rest of the year easier to interpret.