34785 ZIP Code Housing Market
$295,000median sale price
Quick answer: The median home sale price in ZIP code 34785 is $295,000, down 1.7% year-over-year. Homes sell in an average of 100 days with 136 active listings. The market is currently a leaning buyer's.
34785 market data
| Metric | Value |
|---|---|
| Median sale price | $295,000 |
| Median list price | $311,530 |
| Year-over-year price change | -1.7% |
| Average days on market | 100 days |
| Active inventory | 136 listings |
| Sale-to-list price ratio | 98.0% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated weekly
The 34785 zip code, located in Bay Harbor Islands, FL, is currently classified as a leaning buyer's. The median sale price stands at $295,000, representing a -1.7% change year over year. Homes in this area spend an average of 100 days on the market before going under contract. There are currently 136 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 34785 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
62
Last 12 weeks
Days on market
100
Average pace
Active listings
136
Sale-to-list
98.0%
Below asking
Market trends
Market analysis for 34785
The 34785 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 98.0% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 34785 have declined -1.7% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. 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 34785 stands at $273,080, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,660 per month. This gives a price-to-rent ratio of approximately 13.7, 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
21,568
Median income
$66,136/yr
Median age
52.7 years
Owner-occupied
7326.0%
College grads
2586.0%
Avg commute
19.41 min
Living in 34785
Zip code 34785 is home to approximately 21,568 residents. The median household income is $66,136 per year, which shapes the types of homes and amenities available in the area. With a median age of 52.7 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 7326.0% 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 2586.0% 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 19.41 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 34785.
Frequently asked questions about 34785
What is the median home price in 34785?
The current median sale price in 34785 is $295,000, based on recent Redfin transaction data. Prices have changed -1.7% 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 34785 a buyer's or seller's market?
The 34785 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 34785?
Zip code 34785 has a population of approximately 21,568 residents. The median household income is $66,136 per year. About 7326.0% 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 34785?
Properties Incorporated provides comprehensive data for 34785 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 34785 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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