34607 ZIP Code Housing Market
$542,000median sale price
Quick answer: The median home sale price in ZIP code 34607 is $542,000, up 23.9% year-over-year. Homes sell in an average of 87 days with 118 active listings. The market is currently a buyer's market.
34607 market data
| Metric | Value |
|---|---|
| Median sale price | $542,000 |
| Median list price | $505,000 |
| Year-over-year price change | +23.9% |
| Average days on market | 87 days |
| Active inventory | 118 listings |
| Sale-to-list price ratio | 95.0% |
| Market condition | Buyer's market |
Source: Redfin · Updated weekly
The 34607 zip code, located in Bay Harbor Islands, FL, is currently classified as a buyer's market. The median sale price stands at $542,000, representing a +23.9% change year over year. Homes in this area spend an average of 87 days on the market before going under contract. There are currently 118 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 34607 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
43
Last 12 weeks
Days on market
87
Average pace
Active listings
118
Sale-to-list
95.0%
Below asking
Market trends
Market analysis for 34607
The 34607 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a buyer's market, homes are selling at approximately 95.0% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 34607 have increased +23.9% compared to last year, suggesting continued demand and potential for further appreciation. 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 34607 stands at $399,855, which represents Zillow's estimate of the typical home value in the area. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
9,496
Median income
$66,422/yr
Median age
55.2 years
Owner-occupied
8402.0%
College grads
2547.0%
Avg commute
22.98 min
Living in 34607
Zip code 34607 is home to approximately 9,496 residents. The median household income is $66,422 per year, which shapes the types of homes and amenities available in the area. With a median age of 55.2 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 8402.0% 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 2547.0% 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 22.98 minutes, which is close to the national average. 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 34607.
Frequently asked questions about 34607
What is the median home price in 34607?
The current median sale price in 34607 is $542,000, based on recent Redfin transaction data. Prices have changed +23.9% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 34607 a buyer's or seller's market?
The 34607 zip code is currently classified as a buyer's market. 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 34607?
Zip code 34607 has a population of approximately 9,496 residents. The median household income is $66,422 per year. About 8402.0% 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 34607?
Properties Incorporated provides comprehensive data for 34607 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 34607 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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