$10,000 Closing Credit*
$1,595,000
1,823 SqFt
3 Beds
•2 Full Baths
Arturo Pino, Listing Office: Reid Advisors, LLC
Is Miami Shores, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Miami Shores was a Seller's Market.
Key Takeaway
Miami Shores is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Miami Shores, FL
How much do homes in Miami Shores, FL cost?
Median Sold Price
$1,192,000
$657/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$207,000(+21.0%)
Key Takeaway
Homes in Miami Shores have sold for 21% more than they did a year ago.
Summary: The median home sold price in Miami Shores was $1,192,000 in September 2024, up 21% from last year, and the median price per square foot was $657.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $231K | $202K | -12.6% |
| 2 Bedrooms | $720K | $734K | +1.9% |
| 3 Bedrooms | $990K | $1.2M | +26.3% |
| 4 Bedrooms | $1.3M | $1.9M | +41.8% |
| 5+ Bedrooms | $2.5M | $3.7M | +45.1% |
Summary: Miami Shores housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.6%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 26.3%, 4 bedroom homes increased by 41.8%, and 5+ bedroom homes increased by 45.1%.
Median Sold Price Compared To Nearby Cities
| Miami Shores | $985K | $1.1M | +21.0% |
| Miami Beach | $530.1K | $601.8K | +13.5% |
| El Portal | $970K | $954.5K | -1.6% |
| Biscayne Park | $1.0M | $990K | -3.4% |
Housing Supply in Miami Shores, FL
How many homes are available in Miami Shores, FL?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 79 | 83 | +5.1% |
Summary: The Miami Shores real estate market had 83 homes for sale in September 2024, a 5.1% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 16 | 15 | -6.3% |
| 3 Bedrooms | 40 | 37 | -7.5% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The Miami Shores housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 14 | 10 | -28.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Miami Shores, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Miami Shores in September 2024, down by 28.6% month-over-month. Of the 10 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Miami Shores, FL
How long does it take to sell a home in Miami Shores, FL?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 36 Days | 76 Days | +107.5% |
Summary: Homes in Miami Shores had an average of 76 days on market in Sep 2024, up by 107.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Miami Shores are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 10 homes were sold in Miami Shores; 50% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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