Ines Hegedus-Garcia
Miami, FL 33138
Single-Family Homes
Miamism Sales Team
Miami, FL 33138
Wed Oct 23 2019
This week the median list price for Miami, FL 33138 is $665,000 with the market action index hovering around 27. This is less than last month's market action index of 29. Inventory has held steady at or around 79.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
Real-Time Market Profile
| Median List Price | $665,000 | |
| Per Square Foot | $402 | |
| Days on Market | 206 | |
| Price Decreased | 41% | |
| Price Increased | 5% | |
| Relisted | 10% | |
| Inventory | 79 | |
| Median House Rent | ||
| Most Expensive | $5,500,000 | |
| Least Expensive | $210,000 | |
| Market Action Index Slight Buyer's Advantage | 27 |
Again this week in this zip code we see a downward notch for prices. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,500,000 | 3,103 | 0.25 - 0.5 acre | 4 | 4 | 64 | 0 | 1 | 303 |
| $892,000 | 2,200 | 8,000 - 10,000 sqft | 3 | 3 | 67 | 1 | 1 | 180 |
| $634,500 | 1,409 | 6,500 - 8,000 sqft | 3 | 2 | 70 | 0 | 2 | 131 |
| $449,000 | 1,456 | 4,500 - 6,500 sqft | 3 | 2 | 79 | 2 | 1 | 214 |