Is Miami Lakes, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Miami Lakes has remained a Seller's Market.
Housing Prices in Miami Lakes, FL
How much do homes in Miami Lakes, FL cost?
Median Sold Price
$650,000
$341/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Miami Lakes was $650,000 in May 2024, up 5.7% from last year, and the median price per square foot was $341.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $219.5K | $218K | -0.7% |
2 Bedrooms | $340K | $400K | +17.6% |
3 Bedrooms | $545K | $585.5K | +7.4% |
4 Bedrooms | $757.5K | $889K | +17.4% |
5+ Bedrooms | $1.1M | $1.1M | 0.0% |
Summary: Miami Lakes housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Hialeah | $409.3K | $450.7K | +10.1% |
Miami Gardens | $419.1K | $455.2K | +8.6% |
Miami Lakes | $615K | $650K | +5.7% |
Housing Supply in Miami Lakes, FL
How many homes are available in Miami Lakes, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
102 | 109 | +6.9% |
Summary: The Miami Lakes real estate market had 109 homes for sale in May 2024, a 6.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 14 | 15 | +7.1% |
3 Bedrooms | 33 | 38 | +15.2% |
4 Bedrooms | 31 | 30 | -3.2% |
5+ Bedrooms | 18 | 20 | +11.1% |
Summary: The Miami Lakes housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 19 | -5.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Miami Lakes in May 2024, down by 5.0% month-over-month. Of the 19 sold homes, 63% were sold under asking, 11% were sold at asking, and 26% were sold over asking.
Days on Market for Miami Lakes, FL
How long does it take to sell a home in Miami Lakes, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
61 Days | 48 Days | -20.8% |
Summary: Homes in Miami Lakes had an average of 48 days on market in May 2024, down by 20.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 19 homes were sold in Miami Lakes; 47% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.