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 May 2023

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 in Miami Gardens, FL

How much do homes in Miami Gardens, FL cost?

Median Sold Price

$455,205

$314/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$36,012(+8.6%)

Key Takeaway

Homes in Miami Gardens have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in Miami Gardens was $455,205 in May 2024, up 8.6% from last year, and the median price per square foot was $314.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $110K$123.5K
+12.3%
2 $264.7K$322K
+21.6%
3 $415K$450K
+8.4%
4 $470K$496K
+5.5%
5+ $505K$575K
+13.9%

Summary: Miami Gardens housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 13.9%.

Median Sold Price Compared To Nearby Cities

Opa-locka
+16.5%
West Park
+13.2%
Miami Gardens
+8.6%
Miramar-Pembroke Pines
+7.8%
Miramar
+7.2%

Housing Supply in Miami Gardens, FL

How many homes are available in Miami Gardens, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
328302-7.9%

Summary: The Miami Gardens real estate market had 302 homes for sale in May 2024, a 7.9% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 2425
+4.2%
2 2834
+21.4%
3 161145
-9.9%
4 9279
-14.1%
5+ 2319
-17.4%

Summary: The Miami Gardens housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 21.4%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes decreased by 17.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
9252-43.5%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

7 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. 59.6% of homes here sold below asking price last month.

Summary: A total of 52 homes were sold or pending in Miami Gardens in May 2024, down by 43.5% month-over-month. Of the 52 sold homes, 60% were sold under asking, 27% were sold at asking, and 13% were sold over asking.

Days on Market for Miami Gardens, FL

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

Average Sale Time

May 2023May 2024CHANGE
37 Days44 Days+17.6%

Summary: Homes in Miami Gardens had an average of 44 days on market in May 2024, up by 17.6% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

6 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 May 2024, 52 homes were sold in Miami Gardens; 62% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 12% 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 12 Days Ago

Newest Listings in Miami Gardens, FL

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