Miami, FL 33187 Real Estate Market Report

ZIP Code: 33187
Report Date: February 2026
Market Temperature: NEUTRAL
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: 33187) reflects a median sold price of $727,500, indicating a stable transaction environment despite some fluctuations in price metrics. The absence of historical sold price change data limits our ability to assess long-term trends, yet current conditions suggest a market that is recalibrating toward balance rather than speculative growth. The elevated median listing price of $1,099,000 compared to the median sold price highlights potential pricing friction, as sellers may have higher expectations than what buyers are willing to meet.

Market activity appears to be characterized by elevated inventory levels and a median days on market of 292 days, suggesting a slower sales velocity. This extended duration may indicate increased buyer selectivity and a shift in market dynamics, as buyers take more time to evaluate options amid a neutral market temperature. Furthermore, the current interest rate pressure is classified as elevated, which could further influence buyer behavior 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

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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 5.98% as of February 2026, which is 0.78% lower than the 6.76% average from one year prior.

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 stands at $727,500, reflecting current market transaction values.

2. With a median listing price of $1,099,000, there is notable pricing friction between seller expectations and buyer willingness.

3. The median days on market is 292 days, indicating a slower sales velocity and increased buyer selectivity.

4. Market temperature is classified as neutral, suggesting balanced conditions without strong upward or downward pressure.

5. Elevated interest rate pressure may impact buyer affordability and overall market dynamics.

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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.