Is Miami, FL 33166 a buyer’s or seller’s market?

The Miami housing market right now

In the three months ending August 31, 2026, 4% of homes in Miami, FL 33166 sold above their list price, the typical home went under contract in 76 days and there were 4.7 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 98 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (3% then), homes sold faster (110 days then) and the median sale price fell 8% to $639,723. Overall, Miami is more competitive than a year ago, so tougher for buyers.

Within Miami-Dade County, homes here sell faster than in 61% of the county’s ZIP codes, and sell less often over asking than in 80%. On our competition score, Miami ranks #605 of 796 FL ZIP codes with enough sales (score 12 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.