South Miami, FL 33143 Real Estate Market Report

ZIP Code: 33143
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the South Miami real estate market, particularly in the ZIP code 33143, is characterized by a median sold price of $1,830,500, reflecting a stable market environment. The neighborhood has experienced a flat price trend, indicating that while there is some price stability, there is no significant upward or downward movement in values. This suggests that buyers and sellers are finding a common ground, which is essential for maintaining market equilibrium.

The market is currently facing elevated inventory levels, with a notable median days on market of 333. This extended timeframe indicates a slower sales velocity, which may suggest that properties are taking longer to sell, potentially due to the excess supply relative to sales activity. Despite these conditions, demand remains strong for well-prepared single-family homes, indicating that quality listings can still attract buyers effectively. Overall, the market temperature is neutral, reflecting a balanced environment where neither buyers nor sellers hold a distinct advantage.

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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.

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Key Findings

1. The median sold price of $1,830,500 indicates a stable market, with no significant price fluctuations observed recently.

2. With a median days on market of 333, properties are experiencing slower sales velocity, suggesting a need for strategic pricing and marketing to attract buyers.

3. Elevated inventory levels may create pricing friction, necessitating careful consideration for sellers in setting expectations.

4. The median market rent stands at $3,080, reflecting ongoing demand for rental properties amid affordability challenges in homeownership.

5. The market temperature is neutral, indicating a balanced environment where both buyers and sellers are adjusting to current 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.