Miami, FL 33138 Real Estate Market Report

ZIP Code: 33138
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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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.

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Key Findings

1. The neighborhood’s primary market value indicator is the median sold price 1,244,500, which represents the most reliable signal of recent transaction activity and should guide valuation and offer strategies.

2. Comparing the median sold price 1,244,500 to the median listing price 1,299,000 suggests a pricing gap that may indicate seller optimism above realized transaction levels; agents should set expectations accordingly and consider pricing discipline to reduce time on market.

3. The market shows extended time to contract with a median days on market of 412, a signal of slower sales velocity that may require concessions, targeted marketing, or reprice strategies to accelerate transactions.

4. Broader trend and pressure context: price year-over-year trend is up and rent year-over-year trend is up, while market temperature is neutral and interest rate pressure is moderate—together these metrics suggest stable pricing momentum but with caution; expect measured listing activity and consider staging/value-add to stand out amid balanced conditions.

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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.

Miami, FL 33138 Real Estate Market Report

ZIP Code: 33138
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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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.

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Key Findings

1. The most representative recent sale shows a median sold price of 349,500, which should be treated as the primary indicator of current market value and recent transaction activity for the area; this price point suggests modest softness relative to asking levels given the median listing price of 417,950 and may indicate pricing friction between sellers and completed transactions pricing gap.

2. Liquidity is slow: the median days on market of 431 highlights markedly extended marketing times and points to slower sales velocity, which may require sellers to adjust expectations or consider targeted concessions to close deals.

3. Supply dynamics appear tilted toward sellers holding higher asking expectations: the median listing price of 417,950 sits well above the median sold price, a spread that suggests mismatch between listing ambitions and recent transaction levels and may prolong time-to-contract if unchanged.

4. Market context shows mixed signals: the price year-over-year trend is up while market temperature is neutral and interest rate pressure is moderate; combined with a median price per square foot of 316 and median market rent of 2,550, this suggests stability in headline pricing but a cautious near-term outlook where balanced tactics (price realism or incentives) may be required to accelerate sales.

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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.