Miami Shores, FL 33138 Real Estate Market Report

ZIP Code: 33138
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Miami Shores stands at $1,195,000, reflecting the actual market transactions and indicating a stable demand despite the current market conditions. The neighborhood has experienced a recalibration phase, with significant pricing gaps between median listing prices of $1,417,500 and sold prices, suggesting that accurate pricing is crucial for successful transactions. The market appears to be characterized by elevated inventory levels, which may indicate a slower sales velocity as buyers navigate through options and sellers adjust expectations accordingly.

In terms of market dynamics, the median days on market is notably high at 357 days, which points to a slower transaction volume and potential pricing friction. The overall market temperature is neutral, suggesting a balanced environment where neither buyers nor sellers hold a distinct advantage. This scenario, coupled with a moderate interest rate pressure, may lead to a cautious approach among potential buyers, further influencing the liquidity in the market.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates near 5.99% in Miami Shores FL are slightly lower than the recent 2026 average of 6.18%, indicating a minor cost advantage for new financing.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $1,195,000 indicates stable market demand despite elevated inventory levels.

2. With a median listing price of $1,417,500, there is a significant gap that suggests pricing friction may be affecting sales.

3. The median days on market at 357 days reflects a slower sales velocity, indicating potential challenges in closing transactions.

4. Market temperature remains neutral, suggesting a balanced market where neither buyers nor sellers have a distinct advantage.

5. The median market rent is $2,530, which shows an upward trend, indicating growing rental demand in the area.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.