The Roads Market Report — May 2026

Seven Closings. Two Above Ask. One Historic Transfer.

May was a defining month for The Roads. Seven single-family homes closed between May 6 and May 22, generating approximately $12.9 million in total transaction volume across a price range spanning $399,000 to $3,820,000. The breadth of that range tells the whole story: this is a neighborhood where a developer can still find a two-bedroom bungalow at land value while simultaneously competing for one of the largest residential parcels in Miami 33129.

The month’s landmark transaction was 701 SW 27th Road — available for the first time in 64 years. The property comprises three contiguous lots totaling 21,150 square feet, roughly half an acre just steps from Brickell. It listed at $3,750,000 and sold for $3,820,000 — $70,000 over asking — after 43 days on market. At $1,392 per square foot of living area, the price reflects the land premium, not the structure. A buyer may retain the existing home and garage on two lots while building a new residence on the third, or develop up to three new homes on one of the most coveted addresses in The Roads.

The second over-ask sale came at the opposite end of the size spectrum. 1851 SW 2nd Court — a 1,023 SF bungalow built in 1925 on a 7,500 SF lot — listed at $1,495,000 and closed in two days at $1,550,000. At $1,515 per square foot, the price is not about the structure. It is about the address and what the land represents. That buyer moved fast and paid up for a reason.

Four of the seven closings landed in the $1.33M–$1.65M band — the neighborhood’s deepest and most active price segment — with days on market ranging from 10 to 60. Updated, well-presented homes found buyers quickly. 441 SW 27th Rd, a 4-bed/4-bath 1940 home on a 6,750 SF lot, closed in 10 days at $1,650,000. Properties carrying pricing friction or requiring significant work required more patience — 998 SW 11th St sat 132 days before closing at $1,370,000.

On the supply side, three newly completed luxury homes entered active inventory simultaneously at $4,900,000, $5,600,000, and $5,800,000 — all 2026 construction, all on SW 29th Rd and SW 25th Rd. This is the first time The Roads has seen multiple $5M+ listings arrive in a single month. None are under contract yet; price discovery is actively underway. But the fact that developers are delivering at this price point signals a longer-term conviction: as Brickell’s gravity expands southward, The Roads is absorbing luxury demand that has nowhere else to go in 33129.