$10,000 Closing Credit*
$930,000
1,584 SqFt
3 Beds
•2 Full Baths
Mario Menegazzo, Listing Office: London Foster Realty
Is West Miami, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, West Miami has remained a Buyer's Market.
Key Takeaway
West Miami is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West Miami, FL
How much do homes in West Miami, FL cost?
Median Sold Price
$802,000
$539/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$207,000(+34.8%)
Key Takeaway
Homes in West Miami have sold for 34.8% more than they did a year ago.
Summary: The median home sold price in West Miami was $802,000 in September 2024, up 34.8% from last year, and the median price per square foot was $539.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $567K | $555K | -2.1% |
| 3 Bedrooms | $582.5K | $821K | +40.9% |
| 4 Bedrooms | $717.5K | $879.9K | +22.6% |
| 5+ Bedrooms | - | $1.1M | N/A |
Summary: West Miami housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 40.9%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| West Miami | $595K | $802K | +34.8% |
| Coral Gables | $1.1M | $1.2M | +14.1% |
| Miami | $520.3K | $559.6K | +7.6% |
Housing Supply in West Miami, FL
How many homes are available in West Miami, FL?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 14 | 20 | +42.9% |
Summary: The West Miami real estate market had 20 homes for sale in September 2024, a 42.9% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 9 | 14 | +55.6% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The West Miami housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 55.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were 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. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in West Miami in September 2024, the same as the previous 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 West Miami, FL
How long does it take to sell a home in West Miami, FL?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 9 Days | 22 Days | +144.4% |
Summary: Homes in West Miami had an average of 22 days on market in Sep 2024, up by 144.4% 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
Key Takeaway
Many homes in West Miami are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 1 homes were sold in West Miami; 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.
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