Is Miami Springs, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Miami Springs has remained a Seller's Market.
Key Takeaway
Miami Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Miami Springs, FL
How much do homes in Miami Springs, FL cost?
Median Sold Price
$670,000
$396/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Miami Springs have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Miami Springs was $670,000 in November 2023, up 5.9% from last year, and the median price per square foot was $396.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $181.2K | - | N/A |
| 2 Bedrooms | $460K | $530K | +15.2% |
| 3 Bedrooms | $637.5K | $662.5K | +3.9% |
| 4 Bedrooms | $692.5K | $763K | +10.2% |
| 5+ Bedrooms | $968.5K | $935K | -3.5% |
Summary: Miami Springs housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes decreased by 3.5%.
Median Sold Price Compared To Nearby Cities
| Hialeah | $384.5K | $438K | +13.9% |
| North Westside | $407.5K | $449.9K | +10.4% |
| Miami Springs | $632.5K | $670K | +5.9% |
Housing Supply in Miami Springs, FL
How many homes are available in Miami Springs, FL?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 30 | 30 | 0.0% |
Summary: The Miami Springs real estate market had 30 homes for sale in November 2023, the same as October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 17 | 13 | -23.5% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Miami Springs housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 23.5%, 4 bedroom homes increased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Miami Springs, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Miami Springs in November 2023, down by 22.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Miami Springs, FL
How long does it take to sell a home in Miami Springs, FL?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 43 Days | 22 Days | -47.6% |
Summary: Homes in Miami Springs had an average of 22 days on market in Nov 2023, down by 47.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Miami Springs are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 7 homes were sold in Miami Springs; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
© 2023 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.