$9,499 Closing Credit*
$799,900
2,256 SqFt
4 Beds
•2 Full Baths, 1 Partial
Philip Dassel, Listing Office: Compass Florida, LLC.
Is South Miami Heights, 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, South Miami Heights was a Seller's Market.
Key Takeaway
South Miami Heights is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in South Miami Heights, FL
How much do homes in South Miami Heights, FL cost?
Median Sold Price
$540,000
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$59,000(+12.3%)
Key Takeaway
Homes in South Miami Heights have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in South Miami Heights was $540,000 in October 2024, up 12.3% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | - | N/A |
| 2 Bedrooms | $167.9K | $187.5K | +11.6% |
| 3 Bedrooms | $477K | $525K | +10.1% |
| 4 Bedrooms | $529.5K | $570K | +7.6% |
| 5+ Bedrooms | $650K | $675K | +3.8% |
Summary: South Miami Heights housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 3.8%.
Housing Supply in South Miami Heights, FL
How many homes are available in South Miami Heights, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 103 | 106 | +2.9% |
Summary: The South Miami Heights real estate market had 106 homes for sale in October 2024, a 2.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 12 | 0.0% |
| 3 Bedrooms | 42 | 45 | +7.1% |
| 4 Bedrooms | 30 | 31 | +3.3% |
| 5+ Bedrooms | 19 | 18 | -5.3% |
Summary: The South Miami Heights 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 remained the same, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 16 | -23.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Miami Heights, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in South Miami Heights in October 2024, down by 23.8% month-over-month. Of the 16 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for South Miami Heights, FL
How long does it take to sell a home in South Miami Heights, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 54 Days | +56.4% |
Summary: Homes in South Miami Heights had an average of 54 days on market in Oct 2024, up by 56.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Miami Heights are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in South Miami Heights; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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