Miami's real estate market is experiencing a price correction, with values down 69.5% from last year. Home prices have decreased 70.2% in the past month. At the current sales pace, it would take over 10.0 months to sell all available homes in Miami, indicating an oversupplied market. Homes are taking about 14 days to sell, which is -6 days longer than this time last year. A significant 30.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% 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 19.2. Based on current market indicators, home prices in Miami are projected to increase by approximately 12.9% over the next month.
Miami, OK has a total population of 10,435 residents. The area is predominantly White (81.3%), The area has a more homogeneous population distribution. As a smaller community, Miami, OK offers a close-knit residential environment.
Crime analysis for Miami, OK shows 243 total incidents across all categories. The most prevalent crime type is Property Crime (73.7% of all incidents). This is followed by Assault at 18.5%. The crime rate in Miami, OK is relatively low, with violent crimes being more common than property crimes. While crime exists, Miami, OK maintains reasonable safety levels for most residents.
Market predictions for Miami, OK show relatively stable home prices with minimal change (0.1%) over the recent period. This suggests a gradual price adjustment in the market. The current median home price in Miami, OK is approximately $54,820.711. The stable price trend suggests a balanced market in Miami, OK, suitable for both buyers and sellers.
Miami, OK features 1 investment hotspots with varying levels of activity. The low average nightly rate of $86 indicates a budget-friendly market. The average rating of 3.6/5 indicates moderate guest satisfaction. With an average hotspot score of 0.73, these areas show good investment opportunities. With only 6 hotels, this represents an emerging market with potential for growth.
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