Is West Miami, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, West Miami has remained a Seller's Market.
Housing Prices in West Miami, FL
How much do homes in West Miami, FL cost?
Median Sold Price
$675,000
$475/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in West Miami was $675,000 in April 2024, up 17.4% from last year, and the median price per square foot was $475.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $567K | $555K | -2.1% |
3 Bedrooms | $569K | $669K | +17.6% |
4 Bedrooms | $700K | $735K | +5.0% |
5+ Bedrooms | - | $1.1M | N/A |
Summary: West Miami housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
West Miami | $575K | $675K | +17.4% |
Miami | $506.2K | $546.1K | +7.9% |
Coral Gables | $1.1M | $1.0M | -7.7% |
Housing Supply in West Miami, FL
How many homes are available in West Miami, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 8 | -20.0% |
Summary: The West Miami real estate market had 8 homes for sale in April 2024, a 20.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 5 | 5 | 0.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The West Miami housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in West Miami in April 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for West Miami, FL
How long does it take to sell a home in West Miami, FL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
75 Days | 58 Days | -22.7% |
Summary: Homes in West Miami had an average of 58 days on market in Apr 2024, down by 22.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 2 homes were sold in West Miami; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.