Miami, Florida, is a vibrant coastal city known for its dynamic blend of cultures, stunning beaches, and lively nightlife. Nestled along the Atlantic coast, it boasts a tropical climate, making it a year-round destination for sun-seekers and adventure enthusiasts. The city’s Art Deco Historic District in South Beach showcases colorful architecture, while neighborhoods like Little Havana pulse with Cuban heritage, offering authentic cuisine and music. Miami’s thriving arts scene, exemplified by Wynwood’s street murals, complements its bustling port, a hub for international trade and cruises. With a diverse population and a flair for fashion, food, and festivals, Miami radiates an energetic, multicultural charm.
							
			Miami currently has 21 single family homes for sale with an average list price of $1,054,790.10, 5 townhouses for sale with an average list price of $516,559.80, 16 condos for sale with an average list price of $476,681.25, and 2 lots for sale with an average list price of $1,380,000. The average annual property tax for Miami is $5,031.20.		
Using the absorption rate, we can determine how long it's taking for homes to sell and which price points are selling the fastest in Miami, i.e. what's hot and what's not.
See What's Hot & What's Not in MiamiMiami home sales for the month of September decreased in volume by 50% when compared to last year, while the median sale price decreased by 24.5% from $622,500 to $470,000. House sales decreased by 80%, while the median sale price rose by 22% from $615,000 to $750,000. Condo sales rose by 100%, while the median sale price decreased by 61.9% from $1,070,000 to $407,500.
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									23								 | 
									41								 | 
									54								 | 
									43								 | 
| 2021 | 2022 | 2023 | 2024 | 
| # of sales per year | |||
| 
									$440,000								 | 
									$460,000								 | 
									$530,000								 | 
									$535,000								 | 
| 2021 | 2022 | 2023 | 2024 | 
| median sale price per year | |||
 
		HomesByMarco agents are experts in the area. If you're looking to buy or sell a home, give us a call today at 888-326-2726.