Is West Miami, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2022
At the same time last year, West Miami was a Buyer's Market.
Key Takeaway
West Miami is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in West Miami, FL cost?
Median Sold Price
$575,000
$409/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2022
+$68,500(+13.5%)
Key Takeaway
Homes in West Miami have sold for 13.5% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2022 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $362K | $548.5K | +51.5% |
| 3 Bedrooms | $501.5K | $582K | +16.1% |
| 4 Bedrooms | $550K | $700K | +27.3% |
| 5+ Bedrooms | $590K | - | N/A |
Median Sold Price Compared To Nearby Cities
| West Miami | $506.5K | $575K | +13.5% |
| Miami | $449.7K | $509.7K | +13.3% |
| Coral Gables | $999.8K | $1.0M | +9.2% |
How many homes are available in West Miami, FL?
Number of Homes For Sale
| Apr 2023 | May 2023 | % |
|---|---|---|
| 10 | 14 | +40.0% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2023 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Number of Homes Sold
| Apr 2023 | May 2023 | % |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Miami, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
How long does it take to sell a home in West Miami, FL?
How long does it take to sell a home in West Miami, FL?
Average Sale Time
| May 2022 | May 2023 | % |
|---|---|---|
| 7 Days | 46 Days | +566.7% |
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in West Miami has remained consistent over time.
© 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.
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