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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Miami Gardens is a seller's market

Buyer's
Market

Difference Since August 2022

Since last year, Miami Gardens has remained a Seller's Market.

Key Takeaway

Miami Gardens is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Miami Gardens, FL cost?

Median Sold Price

$430,500

$303/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

+$50,291(+13.2%)

Key Takeaway

Homes in Miami Gardens have sold for 13.2% more than they did a year ago.

Summary: The median home sold price in Miami Gardens was $430,500 in August 2023, up 13.2% from last year, and the median price per square foot was $303.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $94.9K$108.5K
+14.3%
2 $249.9K$277.5K
+11.0%
3 $380K$430K
+13.2%
4 $415K$480K
+15.7%
5+ $495K$511K
+3.2%

Summary: Miami Gardens housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 3.2%.

Median Sold Price Compared To Nearby Cities

Miami Gardens
+13.2%
Opa-locka
+13.1%
Miramar
+10.2%
Miramar-Pembroke Pines
+9.1%
West Park
+3.9%

Housing Supply

How many homes are available in Miami Gardens, FL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
224229+2.2%

Summary: The Miami Gardens real estate market had 229 homes for sale in August 2023, a 2.2% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 1014
+40.0%
2 2021
+5.0%
3 11399
-12.4%
4 6373
+15.9%
5+ 1822
+22.2%

Summary: The Miami Gardens housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 12.4%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
7040-42.9%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Miami Gardens, you may be able to get a good deal. 45% of homes here sold below asking price last month.

Summary: A total of 40 homes were sold or pending in Miami Gardens in August 2023, down by 42.9% month-over-month. Of the 40 sold homes, 45% were sold under asking, 18% were sold at asking, and 38% were sold over asking.

Days on Market

How long does it take to sell a home in Miami Gardens, FL?

Average Sale Time

Aug 2022Aug 2023CHANGE
22 Days26 Days+14.0%

Summary: Homes in Miami Gardens had an average of 26 days on market in Aug 2023, up by 14% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2023, 40 homes were sold in Miami Gardens; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

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

Report Updated 29 Days Ago

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Nearby Markets

What housing markets are near Miami Gardens, FL?