Miami, FL 33196 Real Estate Market Report

ZIP Code: 33196
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price for single-family homes in Miami, FL (ZIP: 33196) stands at $650,000, reflecting a stable market despite some fluctuations in pricing signals. The neighborhood has increased up since 2023, indicating a modest appreciation trend. This suggests that while the market is experiencing some price stability, buyers may still face challenges in negotiating prices due to seller expectations, as the median listing price is notably higher at $684,500.

Market activity appears to be characterized by elevated inventory levels, with a median days on market of 264 days, indicating slower sales velocity. This prolonged time frame may suggest a cautious approach from buyers, potentially leading to pricing friction. Overall, the market temperature is currently assessed as neutral, indicating a balanced environment where neither buyers nor sellers hold a distinct advantage, although the excess supply relative to sales activity may create opportunities for negotiation.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Miami, FL area around 6.13% are slightly below the average 2026 forecast of 6.18%, suggesting property owners who did not originate a loan in late 2023 near 8% have limited immediate refinancing savings.

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. $650,000 is the median sold price, indicating stable market conditions despite some pricing fluctuations.

2. The median listing price of $684,500 suggests potential pricing friction as sellers may have elevated expectations compared to recent sales.

3. With a median days on market of 264 days, the market is experiencing slower sales velocity, which may indicate buyer hesitance.

4. The market temperature is currently neutral, reflecting a balanced environment for both buyers and sellers.

5. Rental prices are showing a slight decrease, with a median market rent of $3,460, suggesting a potential shift in rental demand 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.