Ines Hegedus-Garcia
Miami, FL 33138
Single-Family Homes
Miamism Sales Team
Miami, FL 33138
Thu Feb 21 2019
This week the median list price for Miami, FL 33138 is $724,450 with the market action index hovering around 27. This is an increase over last month's market action index of 26. Inventory has held steady at or around 98.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Slight Buyer's Advantage
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $724,450 | |
| Per Square Foot | $350 | |
| Days on Market | 202 | |
| Price Decreased | 45% | |
| Price Increased | 6% | |
| Relisted | 15% | |
| Inventory | 98 | |
| Median House Rent | ||
| Most Expensive | $7,950,000 | |
| Least Expensive | $229,900 | |
| Market Action Index Slight Buyer's Advantage | 27 |
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,445,000 | 3,667 | 0.25 - 0.5 acre | 4 | 4 | 65 | 1 | 0 | 248 |
| $869,240 | 2,654 | 8,000 - 10,000 sqft | 3 | 3 | 69 | 0 | 1 | 187 |
| $659,000 | 1,882 | 6,500 - 8,000 sqft | 3 | 2 | 79 | 1 | 1 | 169 |
| $468,777 | 1,657 | 4,500 - 6,500 sqft | 3 | 2 | 78 | 3 | 3 | 203 |