Ines Hegedus-Garcia
Miami, FL 33138
Single-Family Homes
Miamism Sales Team
Miami, FL 33138
Wed Jan 20 2021
This week the median list price for Miami, FL 33138 is $799,000 with the market action index hovering around 30. This is less than last month's market action index of 33. Inventory has held steady at or around 53.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $799,000 | |
| Per Square Foot | $364 | |
| Days on Market | 138 | |
| Price Decreased | 25% | |
| Price Increased | 6% | |
| Relisted | 2% | |
| Inventory | 53 | |
| Median Rent | $3,900 | |
| Most Expensive | $19,500,000 | |
| Least Expensive | $198,000 | |
| Market Action | 30 | |
| Slight Seller's Advantage | ||
While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,745,000 | 3,430 | 0.25 - 0.5 acre | 5 | 5 | 54 | 0 | 1 | 178 |
| $900,000 | 2,070 | 6,500 - 8,000 sqft | 3 | 3 | 69 | 0 | 1 | 139 |
| $698,999 | 2,286 | 8,000 - 10,000 sqft | 3 | 3 | 71 | 1 | 0 | 100 |
| $484,838 | 1,528 | 4,500 - 6,500 sqft | 3 | 2 | 83 | 1 | 2 | 135 |