Is North Miami Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, North Miami Beach was a Seller's Market.
Key Takeaway
North Miami Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Miami Beach, FL
How much do homes in North Miami Beach, FL cost?
Median Sold Price
$476,333
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in North Miami Beach have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in North Miami Beach was $476,333 in November 2023, up 13.5% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $201K | +18.2% |
| 2 Bedrooms | $385K | $407.5K | +5.8% |
| 3 Bedrooms | $515K | $567.5K | +10.2% |
| 4 Bedrooms | $720K | $615K | -14.6% |
| 5+ Bedrooms | $2.7M | $3.1M | +12.7% |
Summary: North Miami Beach housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 10.2%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Cities
| North Miami | $328K | $376.6K | +14.8% |
| North Miami Beach | $419.6K | $476.3K | +13.5% |
| Miami Gardens | $397.7K | $443.1K | +11.4% |
| Aventura | $471.9K | $492.5K | +4.4% |
| Sunny Isles Beach | $798.8K | $812.8K | +1.7% |
Housing Supply in North Miami Beach, FL
How many homes are available in North Miami Beach, FL?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 364 | 389 | +6.9% |
Summary: The North Miami Beach real estate market had 389 homes for sale in November 2023, a 6.9% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 58 | 62 | +6.9% |
| 2 Bedrooms | 144 | 150 | +4.2% |
| 3 Bedrooms | 99 | 110 | +11.1% |
| 4 Bedrooms | 39 | 43 | +10.3% |
| 5+ Bedrooms | 24 | 24 | 0.0% |
Summary: The North Miami Beach housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 31 | 26 | -16.1% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Miami Beach, you may be able to get a good deal. 73.1% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in North Miami Beach in November 2023, down by 16.1% month-over-month. Of the 26 sold homes, 73% were sold under asking, 15% were sold at asking, and 12% were sold over asking.
Days on Market for North Miami Beach, FL
How long does it take to sell a home in North Miami Beach, FL?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 67 Days | 74 Days | +10.9% |
Summary: Homes in North Miami Beach had an average of 74 days on market in Nov 2023, up by 10.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Miami Beach are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 26 homes were sold in North Miami Beach; 38% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 35% 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.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2023 BeachesMLS, Inc.