Is Hialeah, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Hialeah was a Seller's Market.
Key Takeaway
Hialeah is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Hialeah, FL
How much do homes in Hialeah, FL cost?
Median Sold Price
$450,795
$322/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hialeah have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in Hialeah was $450,795 in May 2024, up 10.1% from last year, and the median price per square foot was $322.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $200K | +8.1% |
| 2 Bedrooms | $250.3K | $285K | +13.8% |
| 3 Bedrooms | $460K | $500K | +8.7% |
| 4 Bedrooms | $545K | $630K | +15.6% |
| 5+ Bedrooms | $641K | $735K | +14.7% |
Summary: Hialeah housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 14.7%.
Median Sold Price Compared To Nearby Cities
| Opa-locka | $332.5K | $387.5K | +16.5% |
| Miami Springs | $640K | $715K | +11.7% |
| Hialeah | $409.3K | $450.7K | +10.1% |
| Miami Lakes | $615K | $650K | +5.7% |
| Hialeah Gardens | $403K | $410K | +1.7% |
Housing Supply in Hialeah, FL
How many homes are available in Hialeah, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 739 | 756 | +2.3% |
Summary: The Hialeah real estate market had 756 homes for sale in May 2024, a 2.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 50 | 53 | +6.0% |
| 2 Bedrooms | 251 | 259 | +3.2% |
| 3 Bedrooms | 280 | 286 | +2.1% |
| 4 Bedrooms | 117 | 117 | 0.0% |
| 5+ Bedrooms | 41 | 41 | 0.0% |
Summary: The Hialeah housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 2.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 137 | 124 | -9.5% |
Asking Price vs. Sold Price
76 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hialeah, you may be able to get a good deal. 61.3% of homes here sold below asking price last month.
Summary: A total of 124 homes were sold or pending in Hialeah in May 2024, down by 9.5% month-over-month. Of the 124 sold homes, 61% were sold under asking, 23% were sold at asking, and 16% were sold over asking.
Days on Market for Hialeah, FL
How long does it take to sell a home in Hialeah, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 39 Days | -0.5% |
Summary: Homes in Hialeah had an average of 39 days on market in May 2024, down by 0.5% compared to last year.
Breakdown of Home Sale Times
69 Homes Were Sold
Under 30 Days
45 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hialeah are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 124 homes were sold in Hialeah; 56% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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