The siEarn letter · November 1, 2026

Buy the evidence.

A sound building. A verified rent roll. A price that works today. This month, the details make the difference.

November 2026 web edition · Research cutoff November 1 · Published November 2

Editorial illustration of an ivory apartment courtyard with green shutters, palms and warm afternoon light.
Original AI-generated editorial illustration for siEarn. Conceptual architecture, not a listed property.

Miami is not one market. Houses remain relatively scarce. Condo buyers have more negotiating room. Our November letter brings investor and listing-agent notes together, with the dated evidence behind each takeaway.

For investors

  1. Houses: September 2026 Miami-Dade median was $692,000, up 4.06% year over year.
  2. Inventory: houses had 5.1 months of supply. Existing condos had 12.3 months.
  3. Condos: the September existing condo median was $417,090, down 0.69% year over year. MIAMI REALTORS, October 16, for these three county resale measures.
  4. Financing: Freddie Mac's October 29 national 30-year fixed benchmark was 7.24%. An investment loan may cost more. Rate archive.
  5. Rentals: MMG's Miami Q3 2026 average apartment rent was $2,381 per month, up 0.7% year over year. This is an apartment sample, not a rent comp for an individual duplex. Compare effective rent after concessions. MMG report.
  6. Risks: Florida homeowner rate reductions are encouraging, but building insurance, reserves, assessments and mortgage eligibility still need checking. Florida OIR, October 29; building-review context.
  7. Your takeaway: pay for current, verified income and sound buildings. Keep hoped-for appreciation in a separate scenario.
The question to carry into every showing

What purchase price works after the rent, insurance, taxes, repairs, reserves and financing are supported by evidence?

For listing agents

  1. Houses: September single-family supply was 5.1 months in Miami-Dade. Buyers are still watching loan costs.
  2. Condos: 12.3 months of existing condo supply means buyers can compare buildings. September resale evidence.
  3. Financing: the October 29 national 30-year benchmark was 7.24%, not an investor-loan quote. Freddie Mac.
  4. 2-4 units: bring the actual rent roll, legal unit count, collections and owner-paid expenses. Put projected rents in a separate scenario.
  5. Condo records: provide the reserve study, structural review, repair status, assessment notices, insurance and relevant lender feedback.
  6. Pricing: share documented reductions and seller terms. A broad market statistic does not establish a particular seller's distress.
  7. Your takeaway: reliable evidence reduces buyer uncertainty and can help defend a price.
Go deeper into November.

Read the complete market outlook, financing illustration and subjective scenarios.

Read the outlook

Housing figures cover September, released October 16; October county sales were not yet published on November 1. This is general market research, not an individual appraisal or loan quote.