Miami, FL 33157 Real Estate Market Report

ZIP Code: 33157
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of March 2026, the real estate market in Miami, FL (ZIP: 33157) is characterized by a median sold price of $689,950, reflecting a notable shift in market dynamics. The neighborhood has decreased 8% since 2022, indicating a softening trend in property values. This decline in sold prices suggests that buyers are gaining more negotiating power, as evidenced by the current median listing price of $699,500, which creates a pricing gap that may reflect seller expectations not aligning with market realities.

Transaction activity appears to be moderate, with median days on market reaching 223 days, indicating slower sales velocity and potentially a backlog of properties. The market is experiencing elevated inventory levels, which may contribute to the downward pressure on prices. Additionally, the median market rent stands at $2,530, which, along with the elevated interest rate pressure, suggests that affordability challenges may be impacting buyer activity and overall market liquidity.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Miami market average around 6.22% to 6.46%, which is notably lower than the 6.67% average seen this time last year, presenting a cost opportunity for recent borrowers.

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 $689,950 indicates a softening market with prices down 8% since 2022.

2. With median days on market at 223 days, the market is experiencing slower sales velocity and potential pricing friction.

3. The median listing price of $699,500 reflects a gap between seller expectations and buyer willingness, suggesting pricing pressure.

4. Elevated inventory levels indicate excess supply relative to sales activity, contributing to a neutral market temperature.

5. The median market rent of $2,530 shows a down trend, which may further constrain buyer demand.

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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.