Miami, FL 33147 Real Estate Market Report

ZIP Code: 33147
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the real estate market in Miami, FL (ZIP: 33147) is characterized by a median sold price of $429,900, indicating a stable market despite a slight cooling trend. The neighborhood has decreased 8% since 2022, reflecting a shift in market dynamics compared to the broader Miami-Dade County, which is experiencing slight appreciation. This decline in sold prices suggests a potential adjustment in buyer expectations and market conditions, as sellers may need to recalibrate their pricing strategies to align with current market realities.

The market is currently exhibiting elevated inventory levels, with a median days on market of 191, indicating slower sales velocity. This extended time frame for properties to sell may suggest a more balanced market, where buyers have increased options. The median listing price stands at $472,500, creating a notable gap between listing and sold prices, which could indicate pricing friction as sellers adjust to the evolving market landscape. Overall, the market temperature is neutral, reflecting a balance between supply and demand, but with signs that may lean towards a more buyer-friendly environment due to excess supply relative to sales activity.

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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

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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 in the Miami market average around 5.8% to 6.28% in February 2026, which is slightly higher than some recent reported lows of 5.50% seen earlier this month.

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 $429,900 indicates a decrease of 8% since 2022, suggesting a need for sellers to reconsider pricing strategies.

2. With a median days on market of 191, properties are experiencing slower sales velocity, indicating a shift towards a more balanced market.

3. The median listing price of $472,500 shows a significant gap compared to the sold price, highlighting potential pricing friction in the current market.

4. Elevated inventory levels suggest moderate sales activity, providing buyers with more options and potentially influencing negotiation power.

5. The median market rent is $2,530, which remains stable, indicating that rental demand may be flat amidst changing market 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.