$1,484 Closing Credit*
$125,000
612 SqFt
Studio
•1 Full Bath
Anar Aubakirova, Listing Office: Sterling Equity Realty LLC
Is North Miami, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, North Miami was a Seller's Market.
Key Takeaway
North Miami is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Miami, FL
How much do homes in North Miami, FL cost?
Median Sold Price
$433,500
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$54,833(+14.5%)
Key Takeaway
Homes in North Miami have sold for 14.5% more than they did a year ago.
Summary: The median home sold price in North Miami was $433,500 in November 2024, up 14.5% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $181.2K | +0.7% |
| 2 Bedrooms | $315K | $375K | +19.0% |
| 3 Bedrooms | $475K | $540K | +13.7% |
| 4 Bedrooms | $669K | $598K | -10.6% |
| 5+ Bedrooms | $2.9M | $2.9M | -1.7% |
Summary: North Miami housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 13.7%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes decreased by 1.7%.
Median Sold Price Compared To Nearby Cities
| Sunny Isles Beach | $799.1K | $975K | +22.0% |
| North Miami | $378.6K | $433.5K | +14.5% |
| North Miami Beach | $475K | $492.3K | +3.6% |
Housing Supply in North Miami, FL
How many homes are available in North Miami, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 343 | 359 | +4.7% |
Summary: The North Miami real estate market had 359 homes for sale in November 2024, a 4.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 76 | 88 | +15.8% |
| 2 Bedrooms | 126 | 127 | +0.8% |
| 3 Bedrooms | 81 | 80 | -1.2% |
| 4 Bedrooms | 34 | 36 | +5.9% |
| 5+ Bedrooms | 26 | 28 | +7.7% |
Summary: The North Miami housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.8%, 2 bedroom homes increased by 0.8%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 19 | -42.4% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Miami, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in North Miami in November 2024, down by 42.4% month-over-month. Of the 19 sold homes, 63% were sold under asking, 16% were sold at asking, and 21% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 66 Days | 54 Days | -18.1% |
Summary: Homes in North Miami had an average of 54 days on market in Nov 2024, down by 18.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Miami are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in North Miami; 42% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
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