Is Miami Beach, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Miami Beach is a buyer's market

Buyer's
Market

Difference Since June 2021

At the same time last year, Miami Beach was a Seller's Market.

Key Takeaway

Miami Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Miami Beach, FL cost?

Median Sold Price

$541,903

$532/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2021

-$35,823(-6.2%)

Key Takeaway

Homes in Miami Beach have sold for 6.2% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJun 2021Jun 2022%
1 $268.7K$299.4K
+11.4%
2 $571.6K$665K
+16.3%
3 $1.5M$1.8M
+20.8%
4 $2.0M$2.7M
+32.5%
5+ $5.5M$6.0M
+9.1%

Median Sold Price Compared To Nearby Cities

Miami Shores
+34.4%
Surfside
+29.9%
North Bay Village
+16.2%
Miami Beach
-6.2%

How many homes are available in Miami Beach, FL?

Number of Homes For Sale

May 2022Jun 2022%
1,4621,431-2.1%

Homes For Sale By Bedroom Count

# BEDSMay 2022Jun 2022%
1 559516
-7.7%
2 521519
-0.4%
3 168176
+4.8%
4 105103
-1.9%
5+ 109117
+7.3%

Number of Homes Sold

May 2022Jun 2022%
290201-30.7%

Asking Price vs. Sold Price

128 Homes Were Sold
Under Asking

39 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Miami Beach, you may be able to get a good deal. 63.7% of homes here sold below asking price last month.

Average Sale Time

Jun 2021Jun 2022%
124 Days70 Days-43.6%

Breakdown of Home Sale Times

81 Homes Were Sold
Under 30 Days

69 Homes Were Sold
In 30 - 90 Days

49 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Miami Beach are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Miami Beach, FL

Homes for sale in Miami Beach, FL have reached 1,431. The number of listings in Miami Beach, FL decreased by 2.1% between May 2022 and June 2022. In June 2022, listings were on the market for 70 days. During the same period, the median list price in this real estate market was $541,903. Between May 2022 and June 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties increased by 11.4%, 2 bedrooms properties became 16.3% more expensive, prices of 3 bedrooms properties increased by 20.8%, 4 bedrooms properties became 32.5% more expensive, prices of 5 bedrooms properties went up by 9.1%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes became 7.7% less available, the quantity of 2 bedrooms homes went down by 0.4%, the quantity of 3 bedrooms homes went up by 4.8%, number of 4 bedrooms homes decreased by 1.9%, 5 bedrooms homes inventory increased by 7.3%. In June 2022 more than 34 listings in Miami Beach, FL were sold above the asking price. During the same period more than 39 listings were sold at asking price, while more than 128 were sold below.

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