Miami, FL 33187 Real Estate Market Report

ZIP Code: 33187
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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 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 primary indicator of recent transaction value is the median sold price: $699,900 — this figure should be treated as the representative recent sale benchmark for pricing decisions in the neighborhood. representative recent sale

2. The gap between the median listing price $890,000 and the median sold price $699,900 suggests pricing friction andseller expectation adjustments may be occurring; sellers should expect increased negotiation pressure rather than immediate premium offers.

3. The market shows slowed liquidity with a median days on market of 354, indicating slower sales velocity and that sellers may need longer marketing windows or pricing incentives to reach contract.

4. Broader context: year-over-year price trend is up while market temperature is neutral, rent growth is flat, and interest rate pressure is moderate; use the median price per square foot $378 and median market rent $3,310 to calibrate valuation and rental comparables while recognizing momentum may be limited. up

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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.

Miami, FL 33187 Real Estate Market Report

ZIP Code: 33187
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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 primary market-value signal is the median sold price of $262,000, which represents the most recent realized transactions and should be used as the baseline for pricing and underwriting decisions; use representative recent sale comparables rather than relying solely on ask prices.

2. Transaction velocity is slow, as evidenced by the median days on market of 359, which suggests pricing friction and that sellers may need longer marketing windows or price concessions to achieve a sale.

3. Unit-level pricing shows a median price per square foot of $178, indicating the market's per-unit valuation framework; underwriters and pricing strategies should reference this figure when setting comps and stay attentive to property condition and amenity differentials.

4. Macro and rental context is mixed: the price year-over-year trend is up while the rent year-over-year trend is flat and interest rate pressure is moderate, so investors should expect capital appreciation signals alongside stabilized rental income growth and some financing headwinds; exercise underwriting caution on leverage assumptions.

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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.