Is Miami Gardens, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $94.9K | $108.5K | +14.3% |
| 2 Bedrooms | $249.9K | $277.5K | +11.0% |
| 3 Bedrooms | $380K | $430K | +13.2% |
| 4 Bedrooms | $415K | $480K | +15.7% |
| 5+ Bedrooms | $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 | $380.2K | $430.5K | +13.2% |
| Opa-locka | $305K | $345K | +13.1% |
| Miramar | $449.2K | $494.9K | +10.2% |
| Miramar-Pembroke Pines | $419.9K | $458.3K | +9.1% |
| West Park | $367.7K | $382K | +3.9% |
Housing Supply
How many homes are available in Miami Gardens, FL?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 224 | 229 | +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
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 14 | +40.0% |
| 2 Bedrooms | 20 | 21 | +5.0% |
| 3 Bedrooms | 113 | 99 | -12.4% |
| 4 Bedrooms | 63 | 73 | +15.9% |
| 5+ Bedrooms | 18 | 22 | +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 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 70 | 40 | -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
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 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 22 Days | 26 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
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.
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