Is Miami, FL 33161 a buyer’s or seller’s market?

The Miami housing market right now

In the three months ending August 31, 2026, 9% of homes in Miami, FL 33161 sold above their list price, the typical home went under contract in 91 days and there were 7.2 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 97 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 6%, homes sold faster (93 days then) and the median sale price rose 3% to $582,248. Overall, Miami is more competitive than a year ago, so tougher for buyers.

Within Miami-Dade County, homes here sell more slowly than in 64% of the county’s ZIP codes, and sell more often over asking than in 53%. On our competition score, Miami ranks #665 of 796 FL ZIP codes with enough sales (score 9 out of 100).

Nearby, buyers who want less competition could look at Miami 33136 (0% sold over asking) or Miami 33128 (0% sold over asking), while Miami 33184 (26% sold over asking) and Opa Locka 33055 (24% sold over asking) are even more competitive.