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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Miami Shores is a seller's market

Buyer's
Market

Difference Since June 2021

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

Key Takeaway

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

How much do homes in Miami Shores, FL cost?

Median Sold Price

$887,500

$507/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2021

+$227,000(+34.4%)

Key Takeaway

Homes in Miami Shores have sold for 34.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJun 2021Jun 2022%
1 $128K$112.5K
-12.1%
2 $430K$628K
+46.0%
3 $670K$882.2K
+31.7%
4 $847K$1.2M
+52.3%
5+ $1.6M$2.5M
+48.7%

Median Sold Price Compared To Nearby Cities

El Portal
+36.7%
Biscayne Park
+35.3%
Miami Shores
+34.4%
Miami
+23.9%
Miami Beach
-6.2%

How many homes are available in Miami Shores, FL?

Number of Homes For Sale

May 2022Jun 2022%
8192+13.6%

Homes For Sale By Bedroom Count

# BEDSMay 2022Jun 2022%
1 12
+100.0%
2 1523
+53.3%
3 4040
0.0%
4 1719
+11.8%
5+ 88
0.0%

Number of Homes Sold

May 2022Jun 2022%
1816-11.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Miami Shores, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.

Average Sale Time

Jun 2021Jun 2022%
38 Days16 Days-56.9%

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Miami Shores, FL

There are 92 homes are for sale in Miami Shores, FL real estate market. The number of homes for sale in Miami Shores, FL increased by 13.6% between May 2022 and June 2022. The median list price of listings available in June 2022 was $887,500, while the average time on the real estate market was 16 days. Between May 2022 and June 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties became 12.1% more cheaper, 2 bedrooms properties prices increased by 46%, 3 bedrooms properties prices increased by 31.7%, prices of 4 bedrooms properties increased by 52.3%, the cost of 5 bedrooms properties went up by 48.7%. Housing inventory have changed in this real estate market: 1 bedroom homes became 100% more available, volume of 2 bedrooms homes went up by 53.3%, 3 bedrooms homes inventory did not change, the quantity of 4 bedrooms homes went up by 11.8%, number of 5 bedrooms homes remained the same. In June 2022, from all listings sold in Miami Shores, FL there were more than 11 sold above asking price, over 4 sold below and more than 1 were sold right at the asked price.

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