Miami, Fl Housing Market
Home prices in Miami were up 2.9% year-over-year in September . At the same time, the number of sold homes fell by 14% and sell in around 91 days on average.
Miami Housing Market Overview
In September 2024, home prices in Miami increased by 2.9% compared to the previous year, with a median sale price of $605,000. The number of homes sold dropped by 14% year-over-year, with 400 homes sold in 2024, compared to 456 in 2023. Additionally, the median time a home stayed on the market increased by 51.6%, reaching 91 days.
Median Price
$605,000 | YOY growth 2.9%
# Of Homes Sold
400 | YOY decline 14%
Days on Market
91 | YOY growth 51.6%
Median Price
Historical Median Price for past 24 months
Top Markets in Miami
Market | Mashmeter Score | Optimal Strategy | Median Price |
|---|---|---|---|
Liberty City East, FL | A- | Short-term | 649,000 |
South-West Coconut Grove, FL | B+ | Short-term | 649,000 |
Auburndale, FL | B | Short-term | 649,000 |
Overtown, FL | B- | Short-term | 649,000 |
Wynwood - Edgewater, FL | C | Short-term | 649,000 |
Top Neighborhoods in Miami
Miami short term regulations
Miami, FL
Rating:
Legal for non-occupied:
Area-related restrictions
Rule Summary:
Determine if your property is in a permissible transect zone and if its land use is categorized as lodging. Then, a Certificate of Use and Business Tax Receipt will have to be obtained from the City of Miami. To obtain a Certificate of Use, you must provide Miami's Zoning office with a certificate of occupancy issued by the Building Department, reflecting your building's approval for lodging land use.
Rented days limit:
No limit
Miami Top Investment Properties Under Median Price
$525,000
20822 SW 123rd Ct, Miami , FL 33177
South-West Coconut Grove
Single Family Residential
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