$3,681 Closing Credit*
$310,000
871 SqFt
2 Beds
•2 Full Baths
Natalia Balmaceda, Listing Office: Triangle Properties, Inc.
Is Miami-Dade County, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Miami-Dade County was a Seller's Market.
Key Takeaway
Miami-Dade County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Miami-Dade County, FL
How much do homes in Miami-Dade County, FL cost?
Median Sold Price
$549,737
$382/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$43,850(+8.7%)
Key Takeaway
Homes in Miami-Dade County have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Miami-Dade County was $549,737 in October 2024, up 8.7% from last year, and the median price per square foot was $382.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $316K | $329.7K | +4.3% |
| 2 Bedrooms | $419.6K | $427.3K | +1.8% |
| 3 Bedrooms | $508.1K | $549.8K | +8.2% |
| 4 Bedrooms | $650K | $688.8K | +6.0% |
| 5+ Bedrooms | $1.0M | $1.1M | +6.9% |
Summary: Miami-Dade County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Counties
| Broward County | $410K | $447.7K | +9.2% |
| Miami-Dade County | $505.8K | $549.7K | +8.7% |
| Monroe County | $950K | $930K | -2.1% |
Housing Supply in Miami-Dade County, FL
How many homes are available in Miami-Dade County, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15,793 | 17,251 | +9.2% |
Summary: The Miami-Dade County real estate market had 17,251 homes for sale in October 2024, a 9.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2,635 | 2,945 | +11.8% |
| 2 Bedrooms | 4,769 | 5,286 | +10.8% |
| 3 Bedrooms | 4,384 | 4,760 | +8.6% |
| 4 Bedrooms | 2,618 | 2,745 | +4.9% |
| 5+ Bedrooms | 1,387 | 1,515 | +9.2% |
Summary: The Miami-Dade County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 9.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,597 | 1,397 | -12.5% |
Asking Price vs. Sold Price
1,022 Homes Were Sold
Under Asking
249 Homes Were Sold
At Asking
126 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Miami-Dade County, you may be able to get a good deal. 73.2% of homes here sold below asking price last month.
Summary: A total of 1,397 homes were sold or pending in Miami-Dade County in October 2024, down by 12.5% month-over-month. Of the 1,397 sold homes, 73% were sold under asking, 18% were sold at asking, and 9% were sold over asking.
Days on Market for Miami-Dade County, FL
How long does it take to sell a home in Miami-Dade County, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 54 Days | 64 Days | +17.6% |
Summary: Homes in Miami-Dade County had an average of 64 days on market in Oct 2024, up by 17.6% compared to last year.
Breakdown of Home Sale Times
593 Homes Were Sold
Under 30 Days
475 Homes Were Sold
In 30 - 90 Days
329 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Miami-Dade County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1397 homes were sold in Miami-Dade County; 42% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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