Is Miami, FL 33189 a buyer’s or seller’s market?

The Miami housing market right now

In the three months ending August 31, 2026, 7% of homes in Miami, FL 33189 sold above their list price, the typical home went under contract in 65 days and there were 5 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 60 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 16%, homes sold faster (69 days then) and the median sale price rose 7% to $596,742. Overall, Miami is less competitive than a year ago, which gives buyers more room.

Within Miami-Dade County, homes here sell faster than in 76% of the county’s ZIP codes, and sell less often over asking than in 62%. On our competition score, Miami ranks #423 of 796 FL ZIP codes with enough sales (score 19 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.