Miami, FL 33187 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Property Taxes

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.

Market Trends & Context

Key Findings

1. The median sold price is 592,000, which should be treated as the primary indicator of market value and recent transaction activity; long median days on market of 385 points to slower sales velocity despite recent closed transactions.
2. There is a notable gap between the median listing price of 810,000 and the median sold price of 592,000, which suggests pricing friction where seller expectations may exceed realized transaction prices.
3. Median price per square foot is 373 while median market rent is 3,500; with a price year-over-year trend of up and rent year-over-year trend of up, the market shows selective strength—particularly for higher-priced inventory—while overall market temperature remains neutral.
4. Elevated interest rate pressure (noted as elevated) combined with the sample’s inventory signal appears to be contributing to moderate transaction volume and elevated inventory relative to sales activity, which may sustain longer listing timelines and require targeted pricing strategies to close deals.

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.