Published October 2, 2026 in Market Update

Pending sales are outpacing closed sales in the Primary market

By Julia Ray

Real estate, Primary market

Here is the one number that changes what you should do right now. The Real Estate Data Aggregator counted 1,460 pending sales across the Primary market in the three months ending July 31, 2026. That is up 20.2% from the same months a year before. Closed sales rose only 12% in the same period. Demand is running ahead of completions. Price carefully and you will find a buyer.

CNBC reported that weekly mortgage demand dropped 6% according to the Mortgage Bankers Association. Freddie Mac put the average 30-year fixed rate at 7.28% as of October 1, 2026. Borrowing is expensive. Yet buyers are still signing contracts. That gap between pending and closed sales is the proof.

The supply picture explains why buyers keep moving. The Real Estate Data Aggregator counted 4,413 homes for sale across the Primary market in the three months ending July 31, 2026. That is down 22.3% from a year before. New listings fell 5.4% in the same period. Fewer choices mean buyers compete harder for the homes that show up priced right.

How each ZIP code is reading the same story

Every ZIP in the Primary market saw pending sales rise. The gains were not all the same size, though. The Real Estate Data Aggregator shows the range below.

ZIP 33180 led with pending sales up 35.4%, according to the Real Estate Data Aggregator. That came even as the median sale price there dipped 17.1% to $427,000. Lower prices brought buyers back. ZIP 33019 was close behind, with pending sales up 33.3% and 11.4% of homes going under contract within two weeks of listing.

What this means for sellers

Pending sales rising faster than closed sales is a sign of a pipeline filling up. It is not a guarantee every home sells quickly. The Real Estate Data Aggregator shows median days on market at 176 days in ZIP 33160 and 166 days in ZIP 33180. Some homes are sitting. The ones moving fast are priced to match what buyers can actually borrow at today's rates.

CNBC also reported that inflation-adjusted home prices in Miami fell 1.6% year over year. That is a small dip, not a collapse. It does mean buyers are watching value closely. A price that felt right a year ago may need a small adjustment today. CNBC reported that 194 ultra-luxury homes priced at $10 million or more sold in Miami-Dade County in the first eight months of 2026, with that count projected to reach 291 by year-end. Even at the very top of the market, demand is present.

The National Association of Realtors reported existing-home sales down 2.0% month over month in August 2026. Yet year-to-date sales through the first eight months of 2026 are still up 1.6%. The broader market is uneven. Our Primary market is holding up better than that national picture.

What this means for buyers

ZIP 33021 had 15.5% of homes go under contract within two weeks of listing, per the Real Estate Data Aggregator. That is the highest of any ZIP in this market. If you are shopping there, slow decisions cost you. ZIP 33019 saw that share jump 7.6 points in one year. Competition on the best listings is real and growing.

These are market-wide numbers. One street can read very differently from its ZIP code as a whole. A block with more condos, a different age of building or a different HOA picture will have its own rhythm. The numbers above are the starting point, not the whole answer.