Is Miami Springs, 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 Springs has remained a Seller's Market.
Key Takeaway
Miami Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Miami Springs, FL
How much do homes in Miami Springs, FL cost?
Median Sold Price
$715,000
$426/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Miami Springs have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Miami Springs was $715,000 in May 2024, up 11.7% from last year, and the median price per square foot was $426.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $182.5K | $178K | -2.5% |
| 2 Bedrooms | $513.1K | $587.5K | +14.5% |
| 3 Bedrooms | $640K | $682.5K | +6.6% |
| 4 Bedrooms | $771.2K | $845K | +9.6% |
| 5+ Bedrooms | $967.4K | $1.0M | +3.7% |
Summary: Miami Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
| North Westside | $431.5K | $485.4K | +12.5% |
| Miami Springs | $640K | $715K | +11.7% |
| Hialeah | $409.3K | $450.7K | +10.1% |
Housing Supply in Miami Springs, FL
How many homes are available in Miami Springs, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 40 | +5.3% |
Summary: The Miami Springs real estate market had 40 homes for sale in May 2024, a 5.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 16 | 14 | -12.5% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Miami Springs 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Miami Springs, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Miami Springs in May 2024, up by 40.0% month-over-month. Of the 7 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Miami Springs, FL
How long does it take to sell a home in Miami Springs, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 69 Days | +73.4% |
Summary: Homes in Miami Springs had an average of 69 days on market in May 2024, up by 73.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Miami Springs has remained consistent over time.
Summary: During May 2024, 7 homes were sold in Miami Springs; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.