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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Miami Lakes is a buyer's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Miami Lakes was a Neutral Market.

Key Takeaway

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

Housing Prices in Miami Lakes, FL

How much do homes in Miami Lakes, FL cost?

Median Sold Price

$660,000

$335/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$67,500(+11.4%)

Key Takeaway

Homes in Miami Lakes have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Miami Lakes was $660,000 in January 2024, up 11.4% from last year, and the median price per square foot was $335.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $255.5K$212K
-17.0%
2 $310K$412.5K
+33.1%
3 $536K$597.5K
+11.5%
4 $700K$875K
+25.0%
5+ $1.2M$1.0M
-14.8%

Summary: Miami Lakes housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17%, 2 bedroom homes increased by 33.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 14.8%.

Median Sold Price Compared To Nearby Cities

Miami Gardens
+12.8%
Hialeah
+12.0%
Miami Lakes
+11.4%

Housing Supply in Miami Lakes, FL

How many homes are available in Miami Lakes, FL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
6577+18.5%

Summary: The Miami Lakes real estate market had 77 homes for sale in January 2024, a 18.5% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 22
0.0%
2 119
-18.2%
3 2130
+42.9%
4 2022
+10.0%
5+ 1114
+27.3%

Summary: The Miami Lakes housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 27.3%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
157-53.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Miami Lakes, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Miami Lakes in January 2024, down by 53.3% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% were sold at asking, and 0% were sold over asking.

Days on Market for Miami Lakes, FL

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

Average Sale Time

Jan 2023Jan 2024CHANGE
53 Days59 Days+10.5%

Summary: Homes in Miami Lakes had an average of 59 days on market in Jan 2024, up by 10.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 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 Lakes are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 7 homes were sold in Miami Lakes; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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 23 Days Ago

Newest Listings in Miami Lakes, FL

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