Is South Miami City West, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, South Miami City West was a Seller's Market.
Housing Prices in South Miami City West, FL
How much do homes in South Miami City West, FL cost?
Median Sold Price
$1,195,000
$592/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in South Miami City West was $1,195,000 in March 2024, up 19.5% from last year, and the median price per square foot was $592.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $979K | $840K | -14.2% |
3 Bedrooms | $887.5K | $960K | +8.2% |
4 Bedrooms | $1.4M | $1.7M | +18.5% |
5+ Bedrooms | $2.8M | $4.9M | +75.7% |
Summary: South Miami City West housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 75.7%.
Median Sold Price Compared To Nearby Neighborhoods
Catalina Lakes | $732K | $1.0M | +50.1% |
East South Miami | $580K | $772.5K | +33.2% |
South Miami City West | $1.0M | $1.1M | +19.5% |
West South Miami | $760K | $845K | +11.2% |
Dadeland | $300K | $315K | +5.0% |
Housing Supply in South Miami City West, FL
How many homes are available in South Miami City West, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 22 | +22.2% |
Summary: The South Miami City West real estate market had 22 homes for sale in March 2024, a 22.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 3 | 3 | 0.0% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The South Miami City West housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in South Miami City West in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for South Miami City West, FL
How long does it take to sell a home in South Miami City West, FL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
11 Days | 7 Days | -36.4% |
Summary: Homes in South Miami City West had an average of 7 days on market in Mar 2024, down by 36.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1 homes were sold in South Miami City West; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.