Miami, FL Real Estate Market

Sellers in 33131 should price strategically given a median days on market of 57 days and a competition score of 49, both of which signal that properties are not moving at a rapid pace. The wide gap between the median list price of $779,000 and the median sale price of $1,900,000 reflects the influence of high-end closings, and thoughtful positioning will be essential to attracting qualified buyers.

Buyers in 33131 have the advantage of 1,105 active listings and a median days on market of 57 days, providing ample time and selection to make a well-informed decision. With a median sale price of $1,900,000 and a price per square foot of $1,127.60, securing financing early and understanding the premium price points across all bedroom sizes will be critical steps in the process.

The median rent of $3,900 set against a median sale price of $1,900,000 produces a high gross rent multiplier that investors should evaluate carefully before deploying capital in this zip code. With 1,194 rental units currently available alongside 1,105 for-sale listings, the substantial supply on both sides of the market means vacancy risk and rental pricing pressure deserve close attention in any return analysis.

The current 30-year mortgage rate of 6.37% and 15-year rate of 5.72% represent significant carrying costs when financing a purchase at the median sale price of $1,900,000 in this market. Buyers who qualify for the 15-year option at 5.72% may benefit from long-term interest savings, though the higher monthly payment requires careful financial planning at this price point.