Published September 28, 2026 in Market Update

One part of the Primary market is moving much faster than the rest

By Chrissy Burghart

Real estate, Primary market

Most of the attention in South Florida goes to the very top end. CNBC reported 194 ultra-luxury sales of $10 million or more in Miami-Dade County in the first eight months of 2026. But the fastest pace in this market right now is not at the top. It is in one ZIP code where well-priced homes are moving quickly. That tells buyers to be ready, and tells sellers that price matters more than ever.

ZIP 34117 leads the whole market on speed

The Real Estate Data Aggregator counted homes across all 15 ZIP codes in the Primary market for the three months ending July 31, 2026. In ZIP 34117, 26.5% of homes went under contract within two weeks of listing. That is the highest share in the market. No other ZIP code came close.

That 26.5% share is up 5.1 points from the same period a year ago, according to the Real Estate Data Aggregator. So the pace is not just high. It is getting faster.

How 34117 compares with every other ZIP

ZIP 34102, the market's highest-priced area, sits at the bottom of this list. The Real Estate Data Aggregator put its median sale price at $2,250,000 for the same period. Only 5.9% of homes there went under contract within two weeks. Price and speed do not always move together.

What is happening in 34117 right now

The median sale price in 34117 dipped 3% from a year ago, per the Real Estate Data Aggregator. That is a small, honest drop. But homes are still selling at 96.4% of list price. That is the highest sale-to-list ratio in the Primary market. Sellers are not giving much away.

The Real Estate Data Aggregator also shows inventory in 34117 fell 20.4% from a year ago. Fewer homes for sale, and more of them moving fast. That combination shapes how buyers need to prepare.

The wider market is also tightening

Across all 15 ZIP codes, the Real Estate Data Aggregator counted 2,781 homes sold in the three months ending July 31, 2026. That is up 15.2% from the same period a year before. Homes for sale across the Primary market fell 25.2% over the same stretch.

New listings are barely up, just 0.6% across the Primary market. But sales and pending sales are rising. That gap between supply and demand is what pushes well-priced homes to move fast.

Rates and national trends add context

Freddie Mac put the average 30-year fixed rate at 7.03% as of September 24, 2026. The 15-year averaged 6.42%. Those rates are not low. But buyers here are still active, as the sales numbers show.

Nationally, the National Association of Realtors reported existing-home sales fell 2.0% month over month in August 2026. Yet sales are still up 1.6% year to date through the first eight months of 2026. The Primary market is outpacing that national pace by a wide margin.

The National Association of Realtors also put national months of supply at 4.9 months, the highest level in over ten years. In ZIP 34117, the Real Estate Data Aggregator shows just 4.6 months of supply. That ZIP is tighter than the national average.

CNBC reported that inflation-adjusted home prices fell 1.6% year over year in Miami. Some prices in this market did dip too. Not every ZIP moved up. But 34117 is a reminder that speed and price direction are not the same thing.

CNBC also reported that 82% of Miami condo sales valued at $1 million or more were all-cash transactions in 2025. That tells you something about who is buying at the higher end of this market. Cash buyers can move quickly, which adds pressure on financed buyers to be prepared.

One street can read very differently from the whole ZIP code. A home's condition, its exact location, and how it is priced all shape what actually happens. These numbers tell the story of the area. Your home's story may be different.