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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Miami is a neutral's market

Buyer's
Market

Difference Since June 2021

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

Key Takeaway

West 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 West Miami, FL cost?

Median Sold Price

$503,000

$361/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2021

+$32,500(+6.9%)

Key Takeaway

Homes in West Miami have sold for 6.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJun 2021Jun 2022%
1 --
N/A
2 $375.4K$362K
-3.6%
3 $471K$501.5K
+6.5%
4 $556K$650K
+16.9%
5+ $590K$685K
+16.1%

Median Sold Price Compared To Nearby Cities

Miami
+23.9%
Coral Gables
+18.5%
West Miami
+6.9%

How many homes are available in West Miami, FL?

Number of Homes For Sale

May 2022Jun 2022%
1213+8.3%

Homes For Sale By Bedroom Count

# BEDSMay 2022Jun 2022%
1 00
0.0%
2 12
+100.0%
3 99
0.0%
4 11
0.0%
5+ 11
0.0%

Number of Homes Sold

May 2022Jun 2022%
12+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Miami, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Average Sale Time

Jun 2021Jun 2022%
86 Days25 Days-70.6%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West 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 West Miami, FL

Homes for sale in West Miami, FL have reached 13. The inventory of homes for sale in West Miami, FL between May 2022 and June 2022 increased by 8.3%. While the average time on the market in June 2022 was 25 days, the median list price was $503,000. Listing prices have changed in this real estate market between May 2022 and June 2022: the cost of 1 bedroom properties went up by 0%, the cost of 2 bedrooms properties went down by 3.6%, 3 bedrooms properties became 6.5% more expensive, the cost of 4 bedrooms properties went up by 16.9%, 5 bedrooms properties prices increased by 16.1%. Volume of homes for sale changed: 1 bedroom homes did not move, 2 bedrooms homes became 100% more available, the quantity of 3 bedrooms homes have not changed, the quantity of 4 bedrooms homes have not changed, volume of 5 bedrooms homes stayed the same. Over 1 listings were sold over their listed price in June 2022 in West Miami, FL. In the same period over 0 listings were sold below the listed price and 1 listings were sold for the listed price.

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