Shenandoah, Miami — Q1 2026 Real Estate Market Report

Editor's note (August 2026): Quarterly recaps published before August 2026 used a narrower core-plats cut of the neighborhood. The site's Monthly Report series now uses the full civic boundary of Shenandoah — see Methodology. This report is preserved as written.

Ten single-family homes closed in Shenandoah in the first quarter of 2026. This recap covers those closings — January 1 through March 31 — against the same window a year earlier. A look at what's currently active and pending will follow in the Q2 update once that quarter closes; mixing a snapshot of today's inventory into a Q1 recap would misdate the picture, so this one sticks to closed transactions.

Geography: Shenandoah, bounded roughly by Calle Ocho (SW 8th St) to the north, Coral Way to the south, SW 12th Avenue to the east, and SW 27th Avenue to the west (ZIPs 33135/33145). Single-family houses only.

The headline numbers

A quarter that moved in two directions at once

The median sale price rose 6.1% year-over-year. Price-per-square-foot fell 3.0%. Those two numbers shouldn't be read as contradicting each other — they're describing different things. The median tracks what actually traded; price-per-square-foot normalizes for size. Here, more of what closed in Q1 2026 sat in the higher price bands than a year earlier: the $1M–$2M band went from 10% of closings to 30%, and the $2M–$5M band went from zero to 10%. Bigger, pricier homes made up a larger share of the trade mix — which pulls the median up even as the underlying per-square-foot value cooled slightly. Buyers this quarter got somewhat more square footage for their dollar than they would have a year earlier, even though the typical closing price was higher.

The other number worth sitting with: 40% of Q1 2026 closings sold at or above the original list price, against zero a year earlier. Paired with a sale-to-list ratio that improved to 94%, sellers who priced correctly this quarter were negotiating from a stronger position than the median days-on-market figure (63, up from 55) would suggest on its own.

The bedroom-count reversal

The quarter's clearest signal sits inside the bed-count breakdown, and it runs counter to what you'd expect. Three-bedroom homes took a median 108 days to sell — nearly double the neighborhood's one-year baseline of 54 days. Four-bedroom-plus homes did the opposite: a median 32 days, well under their 73-day baseline. The larger, typically higher-priced homes moved faster than the mid-size ones this quarter. Combined with the 40% at-or-over-list figure, that points to demand concentrated in bigger, more updated inventory, while three-bedroom stock needed more time and more negotiation to find a buyer.

Where the quarter's activity concentrated

Three plats accounted for most of Q1's closings. The Third Westmoreland Addition plat closed three homes at a median $432/sq. ft., up 12.0% year-over-year, though at a slower median 92 days. Seville closed two at $518/sq. ft., down 27.0% year-over-year on a small two-sale sample — a number to watch rather than lean on. The South Shenandoah plat, again, was the quarter's fastest mover: two closings at $566/sq. ft. in a median 25 days, echoing the same pocket's strength in Q2. Two consecutive quarters of that pattern is worth noting for anyone tracking specific blocks rather than the neighborhood as a whole.

Renting vs. buying

Nine leases closed against 10 sales in Q1 2026 — a 0.9 lease-to-sale ratio. Median rent held at $4,300, level with the prior quarter after falling from $5,200 in Q3 2025. Rental pricing in Shenandoah looks to have found a floor over the past two quarters rather than continuing to climb.

FAQ

What was the median home price in Shenandoah, Miami in Q1 2026?

$960,000 for single-family homes that closed between January 1 and March 31, 2026 — up 6.1% from the same quarter a year earlier. Price-per-square-foot, which strips out the effect of a shifting trade mix, actually declined 3.0% over the same period.

Were homes selling above asking price in Shenandoah in early 2026?

40% of Q1 2026 closings sold at or above the original list price, compared to none in Q1 2025 — a meaningful shift in negotiating leverage for correctly priced listings, concentrated most visibly in larger 4BR+ homes.

Which part of Shenandoah moved fastest in Q1 2026?

The South Shenandoah plat, at a median 25 days on market — its second straight quarter as the fastest-moving pocket in the neighborhood.

Is a 10-sale quarter enough to draw conclusions from?

Treat any single quarter's median with caution at this volume — a shift of two or three sales into a different price band moves the numbers meaningfully. Price-per-square-foot and the bedroom-count breakdown are steadier reads than the topline median alone.

Source: MLS closed listing data for Shenandoah, Miami, single-family homes, closings dated January 1 – March 31, 2026, with year-over-year comparisons to Q1 2025. Compiled by Gatien Salaun, Coldwell Banker Realty.