$10,000 Closing Credit*
$1,025,000
2,742 SqFt
4 Beds
•2 Full Baths
Jessica Bazan, Listing Office: Keller Williams Eagle Realty
Is Miami Shores, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$1,250,000
$679/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$250,000(+25.0%)
Key Takeaway
Homes in Miami Shores have sold for 25% more than they did a year ago.
Summary: The median home sold price in Miami Shores was $1,250,000 in November 2024, up 25% from last year, and the median price per square foot was $679.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242K | $169K | -30.2% |
| 2 Bedrooms | $720K | $862.5K | +19.8% |
| 3 Bedrooms | $1.0M | $1.2M | +23.3% |
| 4 Bedrooms | $1.3M | $2.1M | +55.7% |
| 5+ Bedrooms | $2.5M | $2.8M | +11.8% |
Summary: Miami Shores housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.2%, 2 bedroom homes increased by 19.8%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 55.7%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Cities
| Miami Shores | $1.0M | $1.2M | +25.0% |
| Miami Beach | $534.8K | $617.5K | +15.4% |
Housing Supply in Miami Shores, FL
How many homes are available in Miami Shores, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 90 | 91 | +1.1% |
Summary: The Miami Shores real estate market had 91 homes for sale in November 2024, a 1.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 18 | 17 | -5.6% |
| 3 Bedrooms | 39 | 41 | +5.1% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Miami Shores housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Miami Shores, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Miami Shores in November 2024, down by 27.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 29 Days | -22.9% |
Summary: Homes in Miami Shores had an average of 29 days on market in Nov 2024, down by 22.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Miami Shores are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in Miami Shores; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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