Is North Miami, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, North Miami was a Seller's Market.
Housing Prices in North Miami, FL
How much do homes in North Miami, FL cost?
Median Sold Price
$400,000
$318/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in North Miami was $400,000 in May 2024, up 11.1% from last year, and the median price per square foot was $318.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $183.7K | +5.0% |
2 Bedrooms | $317.5K | $335K | +5.5% |
3 Bedrooms | $460K | $499.9K | +8.7% |
4 Bedrooms | $669K | $650K | -2.8% |
5+ Bedrooms | $1.1M | $2.9M | +163.6% |
Summary: North Miami housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 163.6%.
Median Sold Price Compared To Nearby Cities
Sunny Isles Beach | $782.6K | $902.5K | +15.3% |
North Miami Beach | $423K | $485K | +14.7% |
North Miami | $360K | $400K | +11.1% |
Housing Supply in North Miami, FL
How many homes are available in North Miami, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
301 | 325 | +8.0% |
Summary: The North Miami real estate market had 325 homes for sale in May 2024, a 8.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 68 | 86 | +26.5% |
2 Bedrooms | 109 | 112 | +2.8% |
3 Bedrooms | 69 | 72 | +4.3% |
4 Bedrooms | 33 | 31 | -6.1% |
5+ Bedrooms | 22 | 24 | +9.1% |
Summary: The North Miami housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.5%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 33 | +6.5% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in North Miami in May 2024, up by 6.5% month-over-month. Of the 33 sold homes, 82% were sold under asking, 9% were sold at asking, and 9% were sold over asking.
Days on Market for North Miami, FL
How long does it take to sell a home in North Miami, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
53 Days | 63 Days | +20.2% |
Summary: Homes in North Miami had an average of 63 days on market in May 2024, up by 20.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 33 homes were sold in North Miami; 33% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.