Miami, FL 33147 Real Estate Market Report

ZIP Code: 33147
Report Date: April 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, FL (ZIP: 33147) stands at $420,000, reflecting a market that has seen a year-over-year decrease in average house prices. This suggests a 8% decrease since 2022, indicating potential pricing pressures as the market stabilizes. The current median listing price is $462,000, which highlights a notable gap between seller expectations and actual transaction values, contributing to a more cautious market environment.

Transaction activity appears moderate, with 254 days on the market indicating slower sales velocity. The elevated inventory levels suggest excess supply relative to sales activity, which may further influence pricing dynamics as buyers navigate a market characterized by neutral conditions. Overall, the market is rebalancing, with increasing inventory and a competitive rental landscape, as evidenced by a median market rent of $2,530, which continues to rise year-over-year.

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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.

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Key Findings

1. The median sold price of $420,000 indicates a decrease in average house prices, suggesting potential pricing pressures.

2. With 254 days on the market, the sales velocity is slower, reflecting a cautious buyer sentiment.

3. The median listing price of $462,000 shows a significant gap from the sold price, indicating pricing friction in the market.

4. Elevated inventory levels suggest excess supply relative to sales activity, which may impact future pricing.

5. The rental market remains competitive with a median market rent of $2,530, which is increasing year-over-year.

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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.