Published October 5, 2026 in Market Update

Primary market sales rose even with mortgage rates above 7%

By Heather Brookey

Real estate, Primary market

Freddie Mac put the 30-year fixed rate at 7.28% as of October 1, 2026. Realtor.com noted rates crossed 7% in late September for the first time since January 2025. That is a real cost. Yet buyers kept moving.

The Real Estate Data Aggregator counted 1,056 homes sold across the Primary market in those three months. That is up 11.5% from the same period a year before. Demand did not disappear. It shifted.

The Real Estate Data Aggregator also counted 1,141 pending sales, up 9.4%. That pipeline tells you buyers are still writing contracts. Fewer homes for sale, down 6.4%, means less to choose from.

The national picture looks different from what is happening here

The National Association of Realtors reported existing-home sales fell 2.0% in August 2026, reaching 3.98 million. Nationally, months of supply hit 4.9 months, the highest level in over ten years, according to the National Association of Realtors. The Primary market moved in the other direction.

The Federal Housing Finance Agency reported U.S. house prices rose 2.1% year over year from second quarter 2025 to second quarter 2026. They also rose 0.3% quarter over quarter from first to second quarter 2026. Slow, steady, national.

For context on what high-end buyers are doing in the broader region: CNBC reported 194 ultra-luxury home sales of $10 million or more in Miami-Dade County in the first eight months of 2026. CNBC also reported that 82% of Miami condo sales valued at $1 million or more in 2025 were all-cash transactions. Cash buyers are less sensitive to where rates sit, and that pattern shapes competition at the top of the market.

Each ZIP code tells its own story

The Primary market covers eight ZIP codes. They do not all move together. Here is what the Real Estate Data Aggregator counted for each one in the three months ending July 31, 2026.

Where things moved fastest

The Real Estate Data Aggregator counted a median of 23 days on market in ZIP 33713. That was 31 days shorter than the same period a year before. Nearly 4 in 10 homes there went under contract within two weeks of listing.

ZIP 33704 also moved quickly. The Real Estate Data Aggregator showed a median of 35 days on market, with 36.8% of homes under contract within two weeks. That share jumped 24.2 points from a year before.

Where prices rose and where they dipped

Not every ZIP saw prices climb. The Real Estate Data Aggregator shows the median sale price in ZIP 33707 fell 11.4% year over year, to $387,500. ZIP 33706 dipped 8.7%, to $585,000. ZIP 33701 fell 7.6%, to $875,000.

On the other side, ZIP 33712 saw the median rise 24.1% to $453,000. ZIP 33704 rose 22% to $890,675. ZIP 33711 rose 15.2% to $344,950. ZIP 33702 rose 13.4% to $342,500. Prices are not one story across the market.

CNBC reported that inflation-adjusted home prices fell 1.6% year over year in Miami. That broader regional softness lines up with what the Real Estate Data Aggregator shows in the ZIPs where prices dipped here.

Supply is tighter in most ZIP codes

The Real Estate Data Aggregator counted 1,730 homes for sale across the Primary market, down 6.4% from a year before. ZIP 33704 saw the sharpest drop in inventory, down 38.4%. ZIP 33706 had the most homes for sale at 371, with 7.7 months of supply.

ZIP 33706 also had the longest median days on market at 97 days, up 30 days from a year before. That is a different conversation than ZIP 33713, where supply is tighter and homes move in 23 days. Same market, very different conditions.

What buyers are actually paying versus list price

Across the Primary market, homes are generally selling below list price. The Real Estate Data Aggregator shows sale-to-list ratios ranging from 95% in ZIP 33706 to 97.6% in ZIP 33713. That gap matters when you are picking your number.

Very few homes are selling above list price. ZIP 33713 led with 15.5% of homes selling above list. ZIP 33706 had the lowest share at 0.7%. Pricing close to market value is what is moving homes.