33016
Miami, Florida

ZIP code 33016 shows signs of market softening, with the median sale price declining 4.9% year-over-year to $290,000 as of February 2026. Properties are spending an average of 78 days on market, indicating reduced urgency among buyers compared to tighter market conditions. Only 4% of homes are selling above list price, confirming that seller leverage has weakened substantially and bidding wars have become rare in this Miami submarket.

These conditions favor patient buyers with financing already secured who can negotiate on price and terms during the extended 78-day marketing period. Cash investors seeking rental properties may find improved entry points given the 4.9% price correction, though they should verify rent-to-price ratios justify acquisition costs at $290,000 median. Sellers face headwinds and should price competitively from listing day, as the 4% above-ask rate suggests overpriced homes will languish.

The PropIQ score of 45 signals caution, indicating elevated risk of further price deterioration or extended absorption times ahead. Buyers should monitor whether days-on-market extends beyond the current 78-day average, which would confirm weakening demand. The negative price momentum combined with the below-midpoint intelligence score suggests this market has not established a floor, making timing critical for any transaction through mid-2026.