Is Miami, FL 33131 a buyer’s or seller’s market?
Miami is a buyer’s market. With about 13.9 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 0% of U.S. ZIP codes, and #786 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
The Miami housing market right now
In the three months ending August 31, 2026, 1% of homes in Miami, FL 33131 sold above their list price, the typical home went under contract in 158 days and there were 13.9 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 155 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (3% then), homes sold more slowly (130 days then) and the median sale price fell 2% to $626,729. Overall, Miami is less competitive than a year ago, which gives buyers more room.
Within Miami-Dade County, homes here sell more slowly than in 93% of the county’s ZIP codes, and sell less often over asking than in 93%. On our competition score, Miami ranks #786 of 796 FL ZIP codes with enough sales (score 2 out of 100).
Nearby, Miami 33184 (26% sold over asking) and Opa Locka 33055 (24% sold over asking) are even more competitive.
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Nearby markets
Hialeah 33010Balanced $306 /sq ftHialeah 33012Buyer’s market $336 /sq ftHialeah 33013Balanced $345 /sq ftHialeah 33014Balanced $327 /sq ft Browse all markets →Towns like Miami nearby
Find towns like Miami in other states →Where Miami is
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Questions about Miami real estate
Is Miami a buyer’s or seller’s market?
A buyer’s market: there were 13.9 months of supply in Miami, FL 33131 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 158 days in the latest three months.
Do homes in Miami sell over asking?
1% of homes sold above their original list price, and the typical sale closed at 94.1% of the list price.
What are property taxes in Miami?
About 0.81% of a home’s value a year in Miami-Dade County, or roughly $3,240 on a $400,000 home.
What is the median home price in Miami?
The median sale price was $626,729 in the three months ending August 31, 2026, about $622 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