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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Miami Beach is a buyer's market

Buyer's
Market

Difference Since June 2021

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.

How much do homes in North Miami Beach, FL cost?

Median Sold Price

$400,000

$306/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2021

+$85,000(+27.0%)

Key Takeaway

Homes in North Miami Beach have sold for 27% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJun 2021Jun 2022%
1 $123K$162.5K
+32.1%
2 $255K$350K
+37.3%
3 $365K$465K
+27.4%
4 $460K$480K
+4.3%
5+ $2.2M$2.1M
-3.9%

Median Sold Price Compared To Nearby Cities

Sunny Isles Beach
+28.9%
North Miami Beach
+27.0%
Aventura
+23.1%
Miami Gardens
+21.3%
North Miami
+3.3%

How many homes are available in North Miami Beach, FL?

Number of Homes For Sale

May 2022Jun 2022%
299289-3.3%

Homes For Sale By Bedroom Count

# BEDSMay 2022Jun 2022%
1 5449
-9.3%
2 127121
-4.7%
3 8180
-1.2%
4 2626
0.0%
5+ 1113
+18.2%

Number of Homes Sold

May 2022Jun 2022%
4937-24.5%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Miami Beach, you may be able to get a good deal. 64.9% of homes here sold below asking price last month.

Average Sale Time

Jun 2021Jun 2022%
59 Days75 Days+26.9%

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in North Miami Beach 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 Beach, FL

There are 289 homes are for sale in North Miami Beach, FL real estate market. The number of homes for sale in North Miami Beach, FL decreased by 3.3% between May 2022 and June 2022. Listings spent 75 days on the market in June 2022, and had a median list price of $400,000 during the same period. Between May 2022 and June 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 32.1%, prices of 2 bedrooms properties increased by 37.3%, the cost of 3 bedrooms properties went up by 27.4%, prices of 4 bedrooms properties increased by 4.3%, 5 bedrooms properties prices decreased by 3.9%. Housing inventory have changed in this real estate market: the quantity of 1 bedroom homes went down by 9.3%, volume of 2 bedrooms homes went down by 4.7%, 3 bedrooms homes inventory decreased by 1.2%, number of 4 bedrooms homes remained the same, 5 bedrooms homes became 18.2% more available. In June 2022 more than 7 listings in North Miami Beach, FL were sold above the asking price. During the same period more than 6 listings were sold at asking price, while more than 24 were sold below.

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