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Featured local agent — Miami, FL
Sarah Mitchell
Compass Real Estate · Miami, FL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Miami, FL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$650,000median sale price
How is the Miami, FL housing market right now?
The median home sale price in Miami, FL is $650,000, up 3.0% year-over-year. Homes sell in an average of 114 days with 3,748 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Miami a buyer's or seller's market?
Miami, FL is currently a buyer's market, based on 10.6 months of supply and homes selling in about 114 days. How we determine this →
Homes sold
353
Last 12 weeks
Days on market
114
Average pace
Active listings
3,748
10.6 months supply
Sale-to-list
95.0%
Below asking
What does the Miami housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $650,000 |
| Median list price | $695,000 |
| Year-over-year price change | +3.0% |
| Average days on market | 114 days |
| Active inventory | 3,748 listings |
| Months of supply | 10.6 months |
| Sale-to-list price ratio | 95.0% |
| Median price per sq ft | $535/sq ft |
| Homes sold (latest month) | 353 |
| New listings (latest month) | 682 |
| Listings with a price cut | 16.7% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Miami by property type?
How the Miami, FL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $810,000 | $536/sq ft | 113 | 70 days |
| Condo / Co-op | $540,000 | $563/sq ft | 196 | 140 days |
| Townhouse | $1.04M | $656/sq ft | 18 | 72 days |
Source: Redfin · Updated monthly
The Miami housing market is currently classified as a buyer's market with a median sale price of $650,000. Prices have risen 3.0% compared to last year, with homes spending an average of 114 days on market, indicating 10.6 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 9.8x provides context for how home values compare to local earning capacity.
Homes for sale in Miami
There are currently 3,748 homes listed for sale in Miami, Florida. The median listing price is $695K.
Active listings
3,748
Homes on market
Median list price
$695K
Avg. days on market
114
Days until sale
New this week
682
Newly listed
Who lives in Miami?
Population
446,663
Median income
$59,390/yr
Median age
39.7 years
Owner-occupied
30.7%
College grads
35.6%
Avg commute
27.3 min
Source: U.S. Census Bureau ACS
What are homes worth in Miami?
Zillow home value
$582,621
Zillow rent index
$3,004/mo
Price-to-rent ratio
16.2x
Price-to-income
9.8x
Source: Zillow Research
What is it like to live in Miami?
Miami is a community of approximately 447K residents with a median age of 39.7 years.The median household income is $59,390, which represents a working-class community with solid middle-income opportunities. 35.6% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 30.7%, showing a blend of owner and renter-occupied properties. The average commute time is 27.3 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Miami offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Miami?
50 schools tracked · 75,592 students
The largest public schools serving Miami, FL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
JOHN A. FERGUSON SENIOR HIGH
Grades 9-12 · 4,389 students
CORAL REEF SENIOR HIGH SCHOOL
Grades 8-12 · 3,296 students
MIAMI SENIOR HIGH SCHOOL
Grades 9-12 · 3,018 students
MIAMI PALMETTO SENIOR HIGH SCHOOL
Grades 9-12 · 2,672 students
SOUTHWEST MIAMI SENIOR HIGH
Grades 9-12 · 2,523 students
G. HOLMES BRADDOCK SENIOR HIGH
Grades 8-12 · 2,296 students
MIAMI SOUTHRIDGE SENIOR HIGH
Grades 8-12 · 2,235 students
MIAMI CORAL PARK SENIOR HIGH
Grades 9-12 · 2,191 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Miami, FL?
Want a head-to-head view? Compare Miami side-by-side with any other U.S. city using our market-comparison tool.
Is Miami a good real estate investment market?
For investors evaluating Miami, the price-to-rent ratio of 16.2x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 3.0% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Miami's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Miami's median home price.
Frequently asked questions
What is the average home price in Miami?
The median home sale price in Miami is $650,000, up 3.0% from last year.
How long do homes stay on market in Miami?
Homes typically spend 114 days on market before going under contract.
What is the median income in Miami?
The median household income is $59,390 per year.
Is Miami a buyer's or seller's market?
With 10.6 months of supply, Miami is currently a buyer's market.
What is the Zillow home value estimate for Miami?
The Zillow Home Value Index (ZHVI) for Miami is $582,621, representing the typical home value in the area.
What is the median condo price in Miami?
The median condo/co-op sale price in Miami, FL is $540,000, compared to $810,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Miami?
The median single-family home price in Miami, FL is $810,000 (about $536 per square foot).
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