Miami sellers are delisting their homes faster than anywhere

While home sellers in much of the country are trimming prices in hopes of luring summer buyers, Miami homeowners are embracing a different tactic entirely: disappearing.

Rather than dropping their asking prices, sellers in the South Florida metro are yanking their listings off the market — at the fastest rate in the nation.

According to Realtor.com’s July housing report, Miami’s delisting-to-new-listing ratio surged to 59% in June, meaning for every 100 newly listed homes, 59 were removed. 

That figure more than doubles the national average of 21% and far outpaces Phoenix and Riverside, California, the second and third cities on the list, at 37% and 30%, respectively.

This retreat comes even as Miami’s market shows clear signs of cooling.

The median listing price fell 4.7% year-over-year in July, to $509,950, and total inventory climbed 30%. 

Listings are lingering longer too: Homes now sit on the market for an average of 88 days — more than two weeks longer than last year and the slowest pace among the nation’s 50 largest cities.

But instead of adjusting prices to reflect that reality, Miami’s sellers are standing firm. 

Less than 18% of active listings included a price cut last month, far below what might be expected in a softening market. 

Many sellers, having grown accustomed to pandemic-era highs, are unwilling to let go of peak pricing — even if that means pulling the plug entirely.

“This points to sellers anchored to peak-era price expectations and willing to wait rather than negotiate,” Danielle Hale, chief economist at Realtor.com said in the report. 

“In Miami’s case, the data signal a patient seller dynamic, with homeowners increasingly opting to delist their property rather than compromising on price.”

Nationally, delistings rose 48% year-over-year in June, a jump Realtor.com attributes largely to rising seller frustration as more homes sit unsold. 

But the scale of the shift in Miami suggests something more entrenched: a market where sellers remain convinced their homes are still worth top dollar, even as buyers grow more cautious.