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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Miami is a neutral's market

Buyer's
Market

Difference Since June 2021

At the same time last year, North Miami was a Seller's Market.

Key Takeaway

North Miami is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in North Miami, FL cost?

Median Sold Price

$299,666

$229/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2021

+$9,666(+3.3%)

Key Takeaway

Homes in North Miami have sold for 3.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJun 2021Jun 2022%
1 $131.5K$141.8K
+7.9%
2 $210K$244.9K
+16.6%
3 $370K$429.5K
+16.1%
4 $467.5K$559K
+19.6%
5+ $1.7M$3.0M
+78.7%

Median Sold Price Compared To Nearby Cities

Biscayne Park
+35.3%
Sunny Isles Beach
+28.9%
North Miami Beach
+27.0%
Opa-locka
+18.5%
North Miami
+3.3%

How many homes are available in North Miami, FL?

Number of Homes For Sale

May 2022Jun 2022%
228244+7.0%

Homes For Sale By Bedroom Count

# BEDSMay 2022Jun 2022%
1 4850
+4.2%
2 7970
-11.4%
3 6173
+19.7%
4 2833
+17.9%
5+ 1218
+50.0%

Number of Homes Sold

May 2022Jun 2022%
4537-17.8%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Miami, you may be able to get a good deal. 40.5% of homes here sold below asking price last month.

Average Sale Time

Jun 2021Jun 2022%
62 Days50 Days-19.5%

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in North Miami 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 North Miami, FL

Homes for sale in North Miami, FL have reached 244. In June 2022 in North Miami, FL there were 7% more homes for sale than in May 2022. The median list price of listings available in June 2022 was $299,666, while the average time on the real estate market was 50 days. Between May 2022 and June 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 7.9%, prices of 2 bedrooms properties went up by 16.6%, prices of 3 bedrooms properties went up by 16.1%, prices of 4 bedrooms properties went up by 19.6%, prices of 5 bedrooms properties went up by 78.7%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes became 4.2% more available, 2 bedrooms homes became 11.4% less available, volume of 3 bedrooms homes went up by 19.7%, the quantity of 4 bedrooms homes went up by 17.9%, the quantity of 5 bedrooms homes went up by 50%. North Miami, FL housing market in June 2022 saw over 10 listings sold above listed price, more than 12 sold at listed price and over 15 sold below.

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