Is Miami, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2021
At the same time last year, Miami was a Seller's Market.
Key Takeaway
Miami is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
How much do homes in Miami, FL cost?
Median Sold Price
$522,280
$473/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2021
+$100,891(+23.9%)
Key Takeaway
Homes in Miami have sold for 23.9% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | Jun 2021 | Jun 2022 | % |
|---|---|---|---|
| 1 Bedroom | $274.9K | $359.4K | +30.8% |
| 2 Bedrooms | $408.7K | $540.4K | +32.2% |
| 3 Bedrooms | $655.4K | $840.5K | +28.2% |
| 4 Bedrooms | $795K | $997.1K | +25.4% |
| 5+ Bedrooms | $1.7M | $2.3M | +29.6% |
Median Sold Price Compared To Nearby Cities
| % | |
|---|---|
| El Portal | +36.7% |
| Miami Springs | +27.9% |
| Miami | +23.9% |
| North Westside | +21.5% |
| West Miami | +6.9% |
How many homes are available in Miami, FL?
Number of Homes For Sale
| May 2022 | Jun 2022 | % |
|---|---|---|
| 2,609 | 2,626 | +0.7% |
Homes For Sale By Bedroom Count
| # BEDS | May 2022 | Jun 2022 | % |
|---|---|---|---|
| 1 Bedroom | 657 | 661 | +0.6% |
| 2 Bedrooms | 985 | 974 | -1.1%  |
| 3 Bedrooms | 585 | 562 | -3.9% |
| 4 Bedrooms | 239 | 266 | +11.3% |
| 5+ Bedrooms | 143 | 163 | +14.0% |
Number of Homes Sold
| May 2022 | Jun 2022 | % |
|---|---|---|
| 556 | 428 | -23.0% |
Asking Price vs. Sold Price
235 Homes Were Sold
Under Asking
80 Homes Were Sold
At Asking
113 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Miami, you may be able to get a good deal. 54.9% of homes here sold below asking price last month.
Average Sale Time
| Jun 2021 | Jun 2022 | % |
|---|---|---|
| 102 Days | 66 Days | -35.5% |
Breakdown of Home Sale Times
246 Homes Were Sold
Under 30 Days
119 Homes Were Sold
In 30 - 90 Days
62 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Miami are selling fast, if you're buying plan to act quickly.
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