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Is Miami, FL 33124 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Miami is a buyer’s market. With about 9.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Competition score9/ 100

More competitive than 3% of U.S. ZIP codes, and #671 of 796 in the state.

Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown

Months of supply9.8Under 4 months = seller’s market
Sold above original list11.1%Share of sales, last 3 months
Median sale-to-list93.1%Sold price ÷ list price
Median days on market178Listing to accepted offer
Median price per sq ft$967▼ −2.6% vs. last year

The Miami housing market right now

In the three months ending August 31, 2026, 11% of homes in Miami, FL 33124 sold above their list price, the typical home went under contract in 178 days and there were 9.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 19 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold more slowly (132 days then) and the median sale price fell 11% to $2,416,454. Overall, Miami is less competitive than a year ago, which gives buyers more room.

On our competition score, Miami ranks #671 of 796 FL ZIP codes with enough sales (score 9 out of 100).

Run the numbers for 33124

Prefilled for 33124Can I win this house?Multiple-offer likelihood for a listing Prefilled for 33124Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

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Questions about Miami real estate

Is Miami a buyer’s or seller’s market?

A buyer’s market: there were 9.8 months of supply in Miami, FL 33124 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.

How fast do homes sell in Miami?

The typical home went under contract in 178 days in the latest three months.

Do homes in Miami sell over asking?

11% of homes sold above their original list price, and the typical sale closed at 93.1% of the list price.

What is the median home price in Miami?

The median sale price was $2,416,454 in the three months ending August 31, 2026, about $967 per square foot.

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology