Are sellers cutting their asking price in Miami, FL?
In Miami, FL, 18% of the homes on the market cut their asking price during May 2026 — roughly 2 in every 10 listings. A year earlier it was 21%, so fewer sellers are cutting now.
A price cut means a home was listed, did not sell at that number, and the seller lowered it. It is the clearest sign of the gap between what sellers are asking and what buyers will pay, and it shows up months before it shows up in sale prices.
Cutting is less common than it was a year ago — down about 2 points. Sellers are landing closer to the right number on the first try.
The other side of the same market: 9% of homes here sold for MORE than the asking price. With few homes going over asking and many cutting, buyers here have the stronger hand.
Over the last 36 months the highest this got was 21%, in March 2025.
If you are selling here, the number to take from this is that about 2 in 10 of your competitors got their first price wrong. If you are buying, a home that has already been cut once is a seller who has accepted that the market disagreed with them.
One caution: price cuts are seasonal everywhere. Listings that sit through the summer get cut in the fall. That is why the honest comparison is to the same month a year ago, which is the one we show, rather than to last month.
Source: Redfin's published market data for the Miami, FL area, through May 2026.
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More about the Miami, FL market
- When is the best month to sell a house in Miami, FL?
- How long does it take to sell a house in Miami, FL?
- Do homes sell above asking price in Miami, FL?
- Are home prices going up or down in Miami, FL?
- Is Miami, FL a buyer's market or a seller's market?
- Is the housing market slowing down in Miami, FL?
- What is the average home price in Miami, FL?
- How many homes are for sale in Miami, FL?
- All Miami, FL housing numbers
Other markets
- Are sellers cutting prices in Tampa, FL?
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- Are sellers cutting prices in West Palm Beach, FL?
- Are sellers cutting prices in North Port, FL?
- Are sellers cutting prices in Fort Lauderdale, FL?
- Are sellers cutting prices in Cape Coral, FL?
- Are sellers cutting prices in Deltona, FL?
Figures come from Redfin's published market data for the Miami, FL area, through May 2026. Neighborhood Numbers is an independent data publisher and is not affiliated with Redfin. We update these pages when Redfin publishes, once a month.