Is North Miami, 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, North Miami was a Seller's Market.
Housing Prices in North Miami, FL
How much do homes in North Miami, FL cost?
Median Sold Price
$400,666
$312/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in North Miami was $400,666 in April 2024, up 14.5% from last year, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $171.8K | $180K | +4.8% |
2 Bedrooms | $310K | $325.5K | +5.0% |
3 Bedrooms | $455.2K | $493.5K | +8.4% |
4 Bedrooms | $599.9K | $662K | +10.4% |
5+ Bedrooms | $980K | $2.9M | +203.6% |
Summary: North Miami housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 203.6%.
Median Sold Price Compared To Nearby Cities
Sunny Isles Beach | $777.5K | $912.3K | +17.3% |
North Miami Beach | $424.1K | $490K | +15.5% |
North Miami | $349.7K | $400.6K | +14.5% |
Housing Supply in North Miami, FL
How many homes are available in North Miami, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
284 | 307 | +8.1% |
Summary: The North Miami real estate market had 307 homes for sale in April 2024, a 8.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 58 | 64 | +10.3% |
2 Bedrooms | 103 | 115 | +11.7% |
3 Bedrooms | 69 | 69 | 0.0% |
4 Bedrooms | 33 | 37 | +12.1% |
5+ Bedrooms | 21 | 22 | +4.8% |
Summary: The North Miami housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 11.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 27 | -10.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in North Miami in April 2024, down by 10.0% month-over-month. Of the 27 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.
Days on Market for North Miami, FL
How long does it take to sell a home in North Miami, FL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
56 Days | 72 Days | +29.1% |
Summary: Homes in North Miami had an average of 72 days on market in Apr 2024, up by 29.1% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 27 homes were sold in North Miami; 52% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.