34224
$320,000median sale price
The 34224 zip code, located in Bay Harbor Islands, FL, is currently classified as a leaning buyer's. The median sale price stands at $320,000. Homes in this area spend an average of 61 days on the market before going under contract. There are currently 229 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 34224 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
117
Last 12 weeks
Days on market
61
Average pace
Active listings
229
Sale-to-list
96.7%
Below asking
Market trends
Market analysis for 34224
The 34224 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a leaning buyer's, homes are selling at approximately 96.7% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 34224 have remained relatively stable compared to last year. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 34224 stands at $276,963, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,982 per month. This gives a price-to-rent ratio of approximately 11.6, which suggests that buying may be more cost-effective than renting in this area over the long term. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
15,263
Median income
$52,129/yr
Median age
64 years
Owner-occupied
8000.0%
College grads
2320.0%
Avg commute
14 min
Living in 34224
Zip code 34224 is home to approximately 15,263 residents. The median household income is $52,129 per year, which shapes the types of homes and amenities available in the area. With a median age of 64 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 8000.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 2320.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 14 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 34224.
Frequently asked questions about 34224
What is the median home price in 34224?
The current median sale price in 34224 is $320,000, based on recent Redfin transaction data. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 34224 a buyer's or seller's market?
The 34224 zip code is currently classified as a leaning buyer's. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 34224?
Zip code 34224 has a population of approximately 15,263 residents. The median household income is $52,129 per year. About 8000.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 34224?
Properties Incorporated provides comprehensive data for 34224 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 34224 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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