Published October 23, 2026 in Market Update

Cannonball Primary tightened even with rates above 7%

By Irene Fernandez

Real estate, Cannonball Primary buy box

The one fact that changes what you should do right now: inventory fell 17.4% while sales rose 14.3%. Fewer choices, more competition. That shapes your timing and your price.

Freddie Mac put the 30-year fixed rate at 7.32% on October 22, 2026. Nationally, Realtor.com noted rates climbed above 7% for the first time since January 2025. Even so, buyers kept moving in Cannonball Primary.

The Real Estate Data Aggregator counted 1,668 homes sold across the Cannonball Primary buy box in those three months. That is up 14.3% from the same period in 2025. Pending sales rose 9.7% too. Demand held up.

At the same time, the Real Estate Data Aggregator counted only 5,693 homes for sale, down 17.4% from a year before. New listings did tick up 4.3%, but not enough to offset the drop in overall supply. Buyers have fewer homes to choose from.

How each ZIP code read in the same period

The numbers below cover the three months ending August 31, 2026. Every figure comes from the Real Estate Data Aggregator. Each ZIP tells a different story.

The Real Estate Data Aggregator showed 33129 (Miami) with the sharpest price gain, up 44.9% to $1,058,000. That is a big move. But 33129 had only 50 homes sold. A small count can swing a median fast.

33133 (Miami) had the highest median at $1,787,000, up 13.8%. It also had 166 homes sold, a more stable count. 33149 (Key Biscayne) came in at $1,521,000, up 4.9%, with 79 homes sold.

On the other side, 33160 (North Miami Beach) saw its median fall 13.5% to $490,000. Sales there rose 18.3%, so more homes moved, just at lower prices. Not every ZIP is tightening the same way.

Speed: how long homes sat before selling

33149 (Key Biscayne) had a median of 75 days, and that was 25 days shorter than a year before. That is a real shift. 33145 (Miami) came in at 84 days, only 2 days longer than last year.

33160 (North Miami Beach) sat at 172 days, 25 days longer than a year before. 33130 (Miami) hit 170 days, up 68 days from 2025. Those are long waits. Pricing matters more when a home sits.

What sellers got versus what they asked

33145 (Miami) led at 96.2%, up 2.1 points from a year before. That means sellers there gave up less ground. 33160 (North Miami Beach) was lowest at 92.7%, though it did tick up 0.6 points.

Nationally, Realtor.com reported that 20.8% of listings took a price cut in September 2026, the highest share since October 2022. That is the wider backdrop. Locally, the sale-to-list ratios held steadier than that national picture suggests.

Where supply still runs high

33132 (Miami) had 17.3 months of supply, though that was down 2.9 months from a year before. 33130 (Miami) sat at 14.8 months, down 3.5 months. Both are moving in the right direction, but slowly.

33149 (Key Biscayne) had just 5.2 months of supply, down 2.8 months from 2025. 33133 (Miami) and 33145 (Miami) each came in at 5.5 months. Those three ZIPs have the tightest balance in the buy box.

The wider rate picture

Freddie Mac also put the 15-year fixed rate at 6.68% on October 22, 2026. The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. Month over month in July, they rose 0.3%. Prices nationally are still moving up, just more slowly.

Rates above 7% do slow some buyers. But the Real Estate Data Aggregator data shows Cannonball Primary still added sales volume. Pending sales rose 9.7% across the buy box. That means contracts are still being signed.

One street can read very differently from its whole ZIP code. These figures cover broad areas. Your block may be tighter or looser than the ZIP it sits in. Reach out and I can show you what is happening closer to your front door.