Ines Hegedus-Garcia
Miami Shores, FL
Single-Family Homes
Miamism Sales Team
Miami Shores, FL
Thu Mar 23 2023
This week the median list price for Miami Shores, FL is $1,575,000 with the market action index hovering around 41. This is less than last month's market action index of 45. Inventory has increased to 49.
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 off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,575,000 | |
| Median Price of New Listings | $1,170,000 | |
| Per Square Foot | $618 | |
| Average Days on Market | 108 | |
| Median Days on Market | 49 | |
| Price Decreased | 43% | |
| Price Increased | 2% | |
| Relisted | 8% | |
| Inventory | 49 | |
| Median Rent | ||
| Market Action | 41 | |
| Slight Seller's Advantage | ||
This week saw relatively little price change from last week. However the market appears to be trying to establish an uptrend. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,525,000 | 3,910 | 0.25 - 0.5 acre | 5 | 4 | 71 | 0 | 0 | 122 |
| $1,742,500 | 2,760 | 8,000 - 10,000 sqft | 3 | 3 | 71 | 0 | 0 | 73 |
| $1,485,000 | 2,459 | 8,000 - 10,000 sqft | 4 | 3 | 73 | 1 | 0 | 45 |
| $865,000 | 1,996 | 8,000 - 10,000 sqft | 3 | 2 | 74 | 1 | 2 | 42 |