Explore US City Miami, FL - Real Estate Market Insights, Demographics, Crime, Trends & Hotspots
Market Insights
The housing market in Miami continues to see strong price appreciation, with values up 20.4% compared to last year. Home prices have decreased 35.7% in the past month. At the current sales pace, it would take over 10.2 months to sell all available homes in Miami, indicating an oversupplied market. Homes are taking about 54 days to sell, which is 4 days longer than this time last year. A significant 20.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 7.7% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Miami market with the affordability index at 9.4. Current trends suggest further price adjustments may occur as the market continues to favor buyers.
Demographics market for - Miami, FL
Total Population -
702,962
Miami, FL has a total population of 1,043,094 residents. Hispanic/Latino residents represent 19.4% of the population. The African American population is 7.1%. This creates a relatively diverse demographic makeup for the area. As a large population center, Miami, FL offers diverse community resources and amenities.
White Race
43%
African American Race
10%
Crime for City - Miami, FL
Crime analysis for Miami, FL shows 4,821 total incidents across all categories. The most prevalent crime type is Assault (51.5% of all incidents). This is followed by Property Crime at 38.7%. The overall crime rate in Miami, FL is relatively high, with violent crimes being more common than property crimes. Residents and visitors should remain aware of their surroundings and take appropriate safety precautions.
Real Estate Market Prediction for - Miami, FL
Market predictions for Miami, FL show an upward trend in home prices, with values increasing by 11.5%. This represents a significant price movement in the market. The current median home price in Miami, FL is approximately $677,459.279. Based on current trends, home prices in Miami, FL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
City Hotspots Map
Miami, FL features 20 investment hotspots with varying levels of activity. With an average nightly rate of $196, the market offers mid-range pricing opportunities. Guest satisfaction is good with an average rating of 4.0/5. With an average hotspot score of 0.73, these areas show good investment opportunities. The area is well-developed with 230 hotels, indicating established tourism infrastructure.
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Nearby Cities From- Miami, FL
Hialeah, FL
Gladeview, FL
Brownsville, FL
North Bay Village, FL
Fisher Island, FL
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