Miami condo presale market, 2026

Strong Miami towers still presell fast: Mandarin Oriental sold $1.7 billion before construction and Baccarat Residences is 95% sold, even with resale condos at about 12 months of supply. About half of buyers come from abroad. Florida keeps the first 10% of every deposit in escrow, and no deposit money can pay for marketing.

Updated 20 October 2026 · Compiled by TERAMOK Research · Reviewed by Kirill Samarits, Founder and CEO · Every figure links to its source

52%
of Miami new-construction buyers are international, from 73 countries
MIAMI REALTORS, 11 Nov 2025
$1.7B
presold at Mandarin Oriental Miami before construction
CRE Daily citing Bloomberg, 1 Oct 2026
10%
of the price that must stay in escrow under Florida law
Florida Statutes s. 718.202 (2026)
15 days
for a buyer to cancel after signing and receiving the documents
Florida Statutes s. 718.503 (2026)

Condo projects selling now

Named for-sale projects selling or under construction in 2025 and 2026. Sales percentages are as reported by developers; several come from CondoBlackBook, a brokerage publication, and are labelled so.

Miami presale market 2026: named for-sale projects
ProjectAreaDeveloperUnitsPricing and statusSource
Residences at Mandarin OrientalBrickell KeySwire Properties228 (South Tower)From $6.6M; about 80% sold; $1.7B presold; completion 2030CRE Daily citing Bloomberg, 1 Oct 2026
Baccarat ResidencesBrickellRelated Group and GTIS Partners360$1.1M to $3.5M; 95% sold; delivery early 2028CondoBlackBook (brokerage publication), 13 Apr 2026
Cipriani ResidencesBrickellMast Capital397From $1.8M; over 80% presold; topped off July 2026CondoBlackBook (brokerage publication), 21 Aug 2026
The St. Regis ResidencesBrickellRelated Group and Integra Investments152About 80% presold; delivery 2027CondoBlackBook (brokerage publication), 11 Sep 2026
Residences at 1428 BrickellBrickellYtech19560% presold when its $565M construction loan closedCommercial Observer, 3 Nov 2025
619 Brickell by NobuBrickell13th Floor Investments and Key International321From $3M; sales launched June 2026; completion 2030CondoBlackBook (brokerage publication), 21 Aug 2026
Waldorf Astoria ResidencesDowntownPMG, Greybrook, S2 Development387At level 85 of 100; delivery Q2 2028CondoBlackBook (brokerage publication), 11 Sep 2026
TwentySixth & 2ndWynwoodPMG and LNDMRK233From $500,000; 73% presold; $126M financingCondoBlackBook (brokerage publication), 17 Jun 2026
7200 CollinsNorth BeachNorthlink Capital222From $600,000; 93% sold; delivery late 2027CondoBlackBook (brokerage publication), 13 Apr 2026
LILLI MiamiEdgewaterOKO Group117From $1.65M; sales launched May 2026CondoBlackBook (brokerage publication), 17 Jun 2026
The Cove ResidencesEdgewaterSB Development and Hazelton Capital134From $795,000; $170M construction loan; delivery 2028CondoBlackBook (brokerage publication), 13 Apr 2026
Faena Residences MiamiMiami RiverFortune International and KAR Properties440From $1.3M; groundbreaking late 2026CondoBlackBook (brokerage publication), 21 Aug 2026
The WilliamNorth Miami BeachBlue Road and Ilia Development374From the mid-$400,000s; 35% sold about 11 months after launchCondoBlackBook (brokerage publication), 21 Aug 2026

How fast new condos are selling

What new condos cost

Deposits, and the law that protects them

  • Under Florida Statutes 718.202, all payments up to 10% of the price go into escrow while the building is not substantially complete.

    Florida Statutes s. 718.202 (2026)

  • Payments above 10% go into a special escrow account. If the contract allows and construction has started, the developer may use them for construction costs, but never for advertising, marketing or promotion, sales commissions, or loan, legal, accounting or insurance costs.

    Florida Statutes s. 718.202 (2026)

  • Typical schedules run 10% at contract, 10% at groundbreaking and further 10% steps, for 20% to 50% before closing. This is market practice, not law.

    Haute Living, 2026 (commonly reported practice)

  • In 2025 several Greater Downtown developers cut required deposits from 50% to 30% and raised buyer-side commissions from 5% to 7%.

    Miami Condo Market Intelligence newsletter, 25 May 2025

  • Buyers can cancel within 15 days of signing and receiving all required documents, and again within 15 days of any amendment that materially and adversely changes the offering. The right cannot be waived and ends at closing.

    Florida Statutes s. 718.503 (2026)

What a developer must file before selling

  • Before offering contracts, the developer files the condominium documents with the Division of Florida Condominiums, Timeshares and Mobile Homes. Contracts signed before filing are voidable by the buyer. The fee is $20 per residential unit.

    Florida Statutes s. 718.502 (2026)

  • A reservation program can start before the full filing, with an approved escrow and reservation agreement.

    Florida Statutes s. 718.502 (2026)

  • Projects with more than 20 units need a prospectus, which must now include the structural integrity reserve study and the milestone inspection summary where they apply.

    Florida Statutes s. 718.504 (2026)

What lenders require

  • Recent construction loans closed at reported presale levels of 60% (1428 Brickell, $565M from J.P. Morgan) and 73% (TwentySixth & 2nd, $126M).

    Commercial Observer, 3 Nov 2025

  • No single published Miami lender threshold exists, so we show closed deals instead of a rule of thumb.

    Not published

  • For buyers' mortgages to be Fannie Mae eligible, at least 50% of units in the project or phase must be sold to owner-occupants or second-home buyers, and the building must be substantially complete with a certificate of occupancy.

    Fannie Mae Selling Guide B4-2.2-02, 5 Aug 2026

Who is buying

How the post-Surfside condo laws affect new buildings

  • Milestone inspections apply once a building of three or more stories turns 30, or 25 where the local authority requires it, then every 10 years. A new building is decades from its first one.

    Florida Statutes s. 553.899 (2026)

  • HB 913 (2025) moved the reserve study deadline to 31 December 2025 and eased reserve funding after milestone inspections.

    Florida Senate, HB 913 (2025)

  • Older Miami-Dade condos actually sold faster in 2025: 62 days for buildings 30 years or older against 79 days for newer ones, as older units got cheaper.

    Fox Business, 3 Sep 2025

What presale marketing costs and converts, from our own campaigns

Dated results from TERAMOK presale work, with clients under NDA, including a 44-unit Miami project.

Cost of first leads, Miami
104 leads on roughly $1,000 of first-month ad spend
44-unit Miami project
Leads to reservations
180 qualified leads produced 22 of 48 units reserved before groundbreaking, about 12% of leads reserving
Chicago building
Cost per qualified lead at scale
411 leads a month at $72 per qualified lead
Mixed-use development in Europe, 2026

With more than half of buyers abroad, Miami presales are won in Spanish and Portuguese search and social as much as in English. Florida law keeps marketing out of deposit money, so the marketing budget has to be planned on its own. See published results and pricing.

Questions developers and buyers ask

How much deposit do I need for a Miami pre-construction condo?

Usually 20% to 50% before closing, paid in steps such as 10% at contract and 10% at groundbreaking. Some Downtown developers cut their totals from 50% to 30% in 2025. The schedule is set in each contract.

Is my pre-construction deposit safe in Florida?

The first 10% of the price must stay in escrow (Florida Statutes 718.202). Money above 10% goes to a special escrow account and can be used only for construction once it has started and only if the contract allows, never for advertising, marketing, commissions or loan costs.

Can I cancel a pre-construction condo contract in Florida?

Yes, within 15 days of signing and receiving all required documents, and within 15 days of any amendment that materially and adversely changes the offering (718.503). The right cannot be waived and ends at closing.

What must a developer file before selling condos in Miami?

The condominium documents with the Division of Florida Condominiums before offering contracts (718.502), and a prospectus for projects over 20 units (718.504). Contracts signed before filing are voidable by the buyer.

How many units must be presold before a Miami tower gets a construction loan?

There is no published rule. Recent loans closed at 60% presold (1428 Brickell, $565M) and 73% presold (TwentySixth & 2nd, $126M).

Who buys Miami pre-construction condos?

About 52% of new-construction buyers are international, from 73 countries, led by Colombia, Mexico, Argentina and Brazil (MIAMI REALTORS). Some ultra-luxury towers skew American, such as Mandarin Oriental at about 65% domestic.

Do pre-construction condos cost more than resale in Miami?

Yes. In 2025 Downtown pre-construction asked about $1,100 to $2,000 per square foot against about $865 for resale, and $1M+ resale condos in Greater Downtown sold at a median $886 per square foot in Q1 2026.

Is Miami a buyer's market for condos in 2026?

For existing condos, yes: 13.4 months of supply in Miami-Dade in February 2026. New-construction sales are not included in those figures and are reported project by project.

Sources and method

Compiled on 20 October 2026 from statutes, lender guides, market reports and established local press, each named next to the figure it supports. We publish only figures with a named source; where nothing current is published we say so rather than estimate. TERAMOK campaign figures are our own, from clients under NDA. Free to cite with a link to this page. Corrections: info@teramok.us.

Not yet published anywhere we checked: an official new-construction price per square foot for Miami-Dade, market-wide presale absorption, a published lender presale threshold, the investor and end-user split, and any measurement of buyers moving from older condos to new ones because of the safety laws.

Planning a presale launch?

We build the presale system around these rules: positioning, film, the launch website and paid media, measured against reservation milestones.

Book a strategy callPresale budget calculator