Is Miami Shores, 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, Miami Shores was a Seller's Market.
Housing Prices in Miami Shores, FL
How much do homes in Miami Shores, FL cost?
Median Sold Price
$1,084,923
$618/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Miami Shores was $1,084,923 in May 2024, up 7.9% from last year, and the median price per square foot was $618.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $209.5K | $224K | +6.9% |
2 Bedrooms | $745K | $713.5K | -4.2% |
3 Bedrooms | $995K | $1.1M | +20.2% |
4 Bedrooms | $1.5M | $1.3M | -11.2% |
5+ Bedrooms | $2.5M | $2.2M | -9.8% |
Summary: Miami Shores housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 20.2%, 4 bedroom homes decreased by 11.2%, and 5+ bedroom homes decreased by 9.8%.
Median Sold Price Compared To Nearby Cities
Miami Beach | $524.9K | $602.8K | +14.8% |
Miami Shores | $1.0M | $1.0M | +7.9% |
Biscayne Park | $952.5K | $990K | +3.9% |
El Portal | $950K | $960K | +1.1% |
Housing Supply in Miami Shores, FL
How many homes are available in Miami Shores, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
93 | 102 | +9.7% |
Summary: The Miami Shores real estate market had 102 homes for sale in May 2024, a 9.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 20 | 25 | +25.0% |
3 Bedrooms | 45 | 45 | 0.0% |
4 Bedrooms | 16 | 17 | +6.3% |
5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The Miami Shores housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 9 | -30.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Miami Shores in May 2024, down by 30.8% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Miami Shores, FL
How long does it take to sell a home in Miami Shores, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
56 Days | 84 Days | +49.9% |
Summary: Homes in Miami Shores had an average of 84 days on market in May 2024, up by 49.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Miami Shores; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.