Is Miami-Dade County, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Miami-Dade County was a Seller's Market.
Key Takeaway
Miami-Dade County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Miami-Dade County, FL
How much do homes in Miami-Dade County, FL cost?
Median Sold Price
$530,922
$376/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Miami-Dade County have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Miami-Dade County was $530,922 in April 2024, up 9.5% from last year, and the median price per square foot was $376.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $301.9K | $327.8K | +8.6% |
| 2 Bedrooms | $403.5K | $430.4K | +6.6% |
| 3 Bedrooms | $483.9K | $532K | +9.9% |
| 4 Bedrooms | $630.9K | $677.3K | +7.4% |
| 5+ Bedrooms | $1.0M | $1.1M | +7.1% |
Summary: Miami-Dade County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Counties
| Monroe County | $856.2K | $1.0M | +25.3% |
| Miami-Dade County | $484.9K | $530.9K | +9.5% |
| Broward County | $398.9K | $429.3K | +7.6% |
Housing Supply in Miami-Dade County, FL
How many homes are available in Miami-Dade County, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15,076 | 16,215 | +7.6% |
Summary: The Miami-Dade County real estate market had 16,215 homes for sale in April 2024, a 7.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2,531 | 2,750 | +8.7% |
| 2 Bedrooms | 4,536 | 4,946 | +9.0% |
| 3 Bedrooms | 4,186 | 4,389 | +4.8% |
| 4 Bedrooms | 2,412 | 2,589 | +7.3% |
| 5+ Bedrooms | 1,411 | 1,541 | +9.2% |
Summary: The Miami-Dade County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 9%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 9.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2,002 | 1,873 | -6.4% |
Asking Price vs. Sold Price
1,335 Homes Were Sold
Under Asking
316 Homes Were Sold
At Asking
222 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Miami-Dade County, you may be able to get a good deal. 71.3% of homes here sold below asking price last month.
Summary: A total of 1,873 homes were sold or pending in Miami-Dade County in April 2024, down by 6.4% month-over-month. Of the 1,873 sold homes, 71% were sold under asking, 17% were sold at asking, and 12% were sold over asking.
Days on Market for Miami-Dade County, FL
How long does it take to sell a home in Miami-Dade County, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 61 Days | 0.4% |
Summary: Homes in Miami-Dade County had an average of 61 days on market in Apr 2024, up by 0.4% compared to last year.
Breakdown of Home Sale Times
852 Homes Were Sold
Under 30 Days
590 Homes Were Sold
In 30 - 90 Days
431 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Miami-Dade County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1873 homes were sold in Miami-Dade County; 45% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
© 2024 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.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc. 
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
The data relating to real estate for sale on this website comes in part from the Southwest Florida Multiple Listing Service. The information being provided is 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. Information has not been verified, is not guaranteed, and is subject to change. Real estate listings held by other brokerage firms other are marked with the IDX logo and detailed information about them includes the name of the listing brokers.