Published October 18, 2026 in Market Update

Downtown and Edgewater sales rose even with higher mortgage rates

By Shelia Gasson

Real estate, Downtown and Edgewater

Rates are up, but buyers are still moving. Realtor.com reported mortgage rates climbed above 7% for the first time since January 2025. That kind of news usually slows things down. But the Real Estate Data Aggregator counted 254 homes sold across Downtown and Edgewater in the three months ending August 31, 2026. That's up 17.1% from the same three months a year before. Demand here is still active.

Here's the part that matters most if you're thinking about buying or selling: Downtown and Edgewater are not one market. They're moving in different ways right now. I'll show you both, side by side, so you can see exactly what I mean.

Sales volume: both neighborhoods grew, but Downtown grew faster

The Real Estate Data Aggregator shows Downtown (ZIP 33132) sold 115 homes, up 29.2% from a year ago. Edgewater (ZIP 33137) sold 139 homes, up 8.6%. Both neighborhoods grew. Downtown's jump was bigger.

Prices dipped in both neighborhoods

The Real Estate Data Aggregator shows the median sale price in Downtown was $520,000, down 6.3% from a year ago. In Edgewater, the median was $765,000, down 13.8%. More homes sold, but sellers accepted lower prices to get there. That's a small, honest admission worth knowing before you set a number.

Homes are also taking longer to sell. The Real Estate Data Aggregator puts the median days on market at 170 days in Downtown, 18 days longer than a year ago. In Edgewater it was 148 days, 22 days longer. Neither neighborhood is a fast close right now. Price your home right from the start, because sitting longer tends to cost more in the end.

Inventory tells two different stories

This is where Downtown and Edgewater really split apart. The Real Estate Data Aggregator counted 648 homes for sale in Downtown, up 10.6% from a year ago. New listings there jumped 48.9%. More supply, more competition for sellers. In Edgewater, homes for sale fell 21.1% to 460. New listings dropped 4.6%. Less supply means sellers there face a tighter field.

The Real Estate Data Aggregator puts months of supply at 17.3 in Downtown and 10.1 in Edgewater. Both dropped from a year ago, which is a good sign. But both are still high. A balanced market sits around six months. Buyers have choices here, and sellers need to price with that in mind.

Pending sales show demand is holding

The Real Estate Data Aggregator counted 240 pending sales across both neighborhoods combined, up 7.6% from a year ago. Buyers are still writing contracts. That matters when rates are above 7%, as Realtor.com reported. People are adjusting, not walking away.

A wider look: what's happening nationally

Realtor.com reported that price cuts hit 20.8% of listings nationally in September 2026, the highest share since October 2022. Active listings topped 1.16 million homes for sale across the country. The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. The national picture is softer than it was. Miami's Downtown and Edgewater are holding up better than that, but the pressure is real.

Meanwhile, the Miami Association of Realtors reported that Miami-Dade recorded 24 single-family and condominium sales of $30 million or more through September 2026. The high end of this market is still moving. That's worth knowing if you own something in that range.

What this means if you're buying or selling here