Miami, FL 33196 Real Estate Market Report

ZIP Code: 33196
Report Date: May 2026
Market Temperature: COLD
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

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Market Trends & Context

Understanding Market Temperature

A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

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Key Findings

1. The primary market signal is the median sold price of $645,000, which represents the best indicator of recent transaction-level value and aligns with a broader price trend that is down.

2. Slower liquidity is evident: the median days on market is 347, which suggests slower sales velocity and greater time-to-contract for typical SFR and condo offerings in the ZIP.

3. There is a modest pricing gap between seller expectations and transaction outcomes — the median listing price is $660,000 while the median sold price is $645,000 — which may indicate pricing friction and a move toward a more balanced or buyer-advantaged market.

4. Rental strength persists with a median market rent of $2,680 and a rent year-over-year trend that is up; however, elevated interest rate pressure (elevated) and a cold market temperature (cold) are headwinds to near-term price acceleration.

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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 33196 Real Estate Market Report

ZIP Code: 33196
Report Date: May 2026
Market Temperature: COLD
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

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 Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

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Key Findings

1. The primary market-value indicator is the median sold price: 489,975, representing the most reliable recent transaction signal; the current spread versus the median listing price: 441,950 suggests pricing friction between seller expectations and completed sales.

2. Despite transaction evidence from the median sold price, market-level momentum is soft: year-over-year pricing is down and the overall market temperature is cold, which may indicate slower sales velocity and greater negotiation leverage for buyers.

3. Liquidity appears constrained in active supply terms but elevated relative to recent sales activity (sample-based observation); the long median days on market: 360 supports characterization of slower transaction volume rather than immediate turnover.

4. Rental dynamics remain a relative strength: the median market rent: 2,100 is rising (rent year-over-year trend is up), even as financing conditions face elevated interest rate pressure, which may depress purchase demand and keep investors focused on rental income opportunities.

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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.