Miami, FL 33187 Real Estate Market Report

ZIP Code: 33187
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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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

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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Miami market average 6.38% compared to an average of 5.93% one month prior, indicating a slight increase in current borrowing costs for new loans.

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 $699,995 indicates a notable gap from the median listing price of $860,000, suggesting potential pricing friction in the market.

2. Properties are experiencing a median days on market of 347, reflecting a slower sales velocity and indicating that buyers may be taking their time to make purchasing decisions.

3. Current interest rate pressure is elevated, with mortgage rates averaging 6.38%, which may be impacting buyer affordability and overall market activity.

4. The market temperature is currently neutral, indicating a balanced environment where neither buyers nor sellers have a distinct advantage.

5. Despite elevated inventory levels, the market is experiencing moderate transaction volume, highlighting a potential excess supply relative to sales activity.

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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.