Miami, FL 33176 Real Estate Market Report

ZIP Code: 33176
Report Date: February 2026
Market Temperature: COLD
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: 33176) is characterized by a median sold price of $849,000, reflecting a notable shift in market dynamics. The neighborhood has decreased 8% since 2022, indicating a trend of declining property values amidst a backdrop of elevated inventory levels. This price adjustment suggests that buyers may have more negotiating power, as the market appears to be cooling, with a median days on market of 199, pointing to slower sales velocity and extended listing periods.

Despite the broader economy showing strength due to job stability and migration, buyer sentiment remains cautious, influenced by moderately high interest rates. The median listing price stands at $1,024,500, highlighting a significant gap between seller expectations and market realities. This discrepancy, combined with a cold market temperature, suggests that sellers may need to adjust their pricing strategies to attract buyers in a competitive landscape.

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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 Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Miami FL are averaging 5.69% to 6.28% compared to a recent 2026 average of 6.87% from a year ago, indicating a favorable market shift for refinancing.

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 $849,000 indicates a significant price adjustment, reflecting a decrease of 8% since 2022.

2. With a median days on market of 199, the market is experiencing slower sales velocity, suggesting buyers are taking longer to make purchasing decisions.

3. The median listing price of $1,024,500 shows a considerable gap compared to the sold price, indicating potential pricing friction for sellers.

4. The market temperature is classified as cold, suggesting a less competitive environment for sellers and more opportunities for buyers.

5. Rental markets are also showing signs of softening, with a median market rent of $2,700, reflecting a down trend 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.