Edgewater vs Midtown Condos: Sales Up in One, Prices Down

Edgewater and Midtown sit side by side, but their condo markets moved in opposite directions over the last year. As of October 13, 2026, Edgewater closed 467 condo sales in the 12 months to date, up 24% from the year before, while Midtown closed 89, nearly flat, and its median price per square foot fell 10%. Both remain buyer's markets, with Midtown carrying much more supply relative to its sales.

The two markets side by side

Own.Miami figures for the 12 months to October 13, 2026:

| | Edgewater | Midtown | |---|---|---| | Condos listed for sale | 531 | 161 | | Closed sales, last 12 months | 467 (+24%) | 89 (+2%) | | Median closing price | $655,000 | $551,500 | | Median closing price per sq ft | $604 (−1%) | $582 (−10%) | | Months of supply | 13.6 | 21.7 | | Median sale-to-list ratio | 92.8% | 92.9% | | Listings with a price cut | 34% | 38% | | Buyer/Seller Market Index | 35 | 24 |

A market index below 40 reads as a buyer's market on our scale; six months of supply or less is usually a seller's market.

Edgewater: more sales, steady prices

Edgewater's sales growth came with flat pricing, which points to buyers stepping in at current levels rather than bidding prices up. The busiest towers by closed sales were Opera Tower (39 sales at a median $435 per square foot), Aria Reserve (35 at $997) and Quantum on the Bay (31 at $511). The spread between those buildings, from about $435 to about $1,000 per square foot on the same stretch of the bay, is why the building matters more than the neighborhood average.

Midtown: fewer buyers for mid-priced units

Midtown's pressure is in the middle of the market. Units between $750,000 and $1 million have 27 listings against 7 sales in 12 months, about 46 months of supply, and units from $1 million to $2 million have 13 listings against 4 sales. Below $500,000 the market is tighter, at about 14 months. The most active towers were Four Midtown (22 sales at a median $548 per square foot), Hyde Midtown (19 at $703) and Midtown 2 (18 at $563).

New construction in both

Pre-construction pricing sits far above resale in both neighborhoods. In Edgewater, units in towers not yet delivered list at a median $1,283 per square foot against $652 for resale listings; in Midtown, $1,325 against $714. Our pipeline tracks three Edgewater projects with 564 planned units and two Midtown projects with 368. For a buyer, that gap is the premium paid for a new building; for an owner of an older unit, the new towers set the ceiling, not the comparable.