Is Miami-Dade County, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Miami-Dade County is a buyer's market

Buyer's
Market

Difference Since July 2021

At the same time last year, Miami-Dade County was a Seller's Market.

Key Takeaway

Miami-Dade County 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-Dade County, FL cost?

Median Sold Price

$449,982

$323/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$63,084(+16.3%)

Key Takeaway

Homes in Miami-Dade County have sold for 16.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $226.1K$282.2K
+24.8%
2 $302.9K$379.8K
+25.4%
3 $390.1K$458.6K
+17.6%
4 $503.6K$595.8K
+18.3%
5+ $1.0M$1.2M
+12.3%

Median Sold Price Compared To Nearby Counties

Collier County
+26.1%
Broward County
+17.2%
Miami-Dade County
+16.3%

How many homes are available in Miami-Dade County, FL?

Number of Homes For Sale

Jun 2022Jul 2022%
12,79312,677-0.9%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 1,9821,895
-4.4%
2 3,7533,661
-2.5%
3 3,7543,695
-1.6%
4 2,1602,219
+2.7%
5+ 1,1441,207
+5.5%

Number of Homes Sold

Jun 2022Jul 2022%
2,6191,731-33.9%

Asking Price vs. Sold Price

895 Homes Were Sold
Under Asking

325 Homes Were Sold
At Asking

511 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Miami-Dade County, you may be able to get a good deal. 51.7% of homes here sold below asking price last month.

Average Sale Time

Jul 2021Jul 2022%
68 Days39 Days-42.4%

Breakdown of Home Sale Times

1,142 Homes Were Sold
Under 30 Days

424 Homes Were Sold
In 30 - 90 Days

164 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Miami-Dade County 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-Dade County, FL

Number of homes for sale in Miami-Dade County, FL real estate market have reached 12,677. Between June 2022 and July 2022, Miami-Dade County, FL real estate market has seen decrease in the number of listings by 0.9%. Listings spent 39 days on the market in July 2022, and had a median list price of $449,982 during the same period. This housing market listing prices have changed between June 2022 and July 2022: 1 bedroom properties became 24.8% more expensive, the cost of 2 bedrooms properties went up by 25.4%, prices of 3 bedrooms properties increased by 17.6%, 4 bedrooms properties prices increased by 18.3%, 5 bedrooms properties became 12.3% more expensive. Housing inventory have changed in this real estate market: number of 1 bedroom homes decreased by 4.4%, the quantity of 2 bedrooms homes went down by 2.5%, 3 bedrooms homes inventory decreased by 1.6%, 4 bedrooms homes became 2.7% more available, the quantity of 5 bedrooms homes went up by 5.5%. In July 2022, from all listings sold in Miami-Dade County, FL there were more than 511 sold above asking price, over 895 sold below and more than 325 were sold right at the asked price.

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