Miami, FL 33196 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

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.

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

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary market indicator, the median sold price 554,000, shows the most reliable signal of recent transaction values; the spread versus the median listing price 722,500 suggests pricing friction where seller expectations appear elevated relative to completed sales.
2. The median days on market 315 points to slower sales velocity, which may indicate that properties are taking longer to find buyers even as the market stabilizes.
3. The median price per square foot 321 together with a median market rent of 2,700 and a rent year-over-year trend of up signals persistent rental demand and supports valuation at current price bands; however, interest rate pressure is moderate and 30-year fixed rates average 6.5%, which may temper buyer affordability.
4. With a market temperature of neutral and a price year-over-year trend of up, the neighborhood appears balanced rather than strongly one-sided; inventory conditions show elevated supply relative to sales activity, which may create selective opportunities for buyers while leaving room for negotiation on higher-priced listings.

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.