$10,000 Closing Credit*
$1,760,000
2,006 SqFt
3 Beds
•2 Full Baths
David Veit PA, Listing Office: Compass Florida, LLC
Is Miami Shores, 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 Shores was a Seller's Market.
Key Takeaway
Miami Shores is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Miami Shores, FL
How much do homes in Miami Shores, FL cost?
Median Sold Price
$1,235,000
$666/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$245,000(+24.7%)
Key Takeaway
Homes in Miami Shores have sold for 24.7% more than they did a year ago.
Summary: The median home sold price in Miami Shores was $1,235,000 in October 2024, up 24.7% from last year, and the median price per square foot was $666.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242K | $169K | -30.2% |
| 2 Bedrooms | $720K | $797K | +10.7% |
| 3 Bedrooms | $1.0M | $1.2M | +26.5% |
| 4 Bedrooms | $1.3M | $2.0M | +49.5% |
| 5+ Bedrooms | $2.5M | $2.8M | +11.8% |
Summary: Miami Shores housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.2%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 26.5%, 4 bedroom homes increased by 49.5%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Cities
| Miami Shores | $990K | $1.2M | +24.7% |
| Miami Beach | $530.5K | $604.5K | +14.0% |
| El Portal | $965K | $949.7K | -1.6% |
Housing Supply in Miami Shores, FL
How many homes are available in Miami Shores, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 84 | 92 | +9.5% |
Summary: The Miami Shores real estate market had 92 homes for sale in October 2024, a 9.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 19 | +18.8% |
| 3 Bedrooms | 35 | 38 | +8.6% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The Miami Shores housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 11 | -15.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Miami Shores, you may be able to get a good deal. 90.9% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Miami Shores in October 2024, down by 15.4% month-over-month. Of the 11 sold homes, 91% were sold under asking, 0% were sold at asking, and 9% were sold over asking.
Days on Market for Miami Shores, FL
How long does it take to sell a home in Miami Shores, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 37 Days | 69 Days | +87.5% |
Summary: Homes in Miami Shores had an average of 69 days on market in Oct 2024, up by 87.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Miami Shores has remained consistent over time.
Summary: During October 2024, 11 homes were sold in Miami Shores; 18% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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