33031
Miami, Florida

ZIP code 33031 posted a median sale price of $1,125,000 as of February 2026, marking a 16.6% year-over-year increase that significantly outpaces typical appreciation rates. However, this price growth exists alongside an average 104 days on market, indicating extended listing periods that suggest weakening buyer urgency. Only 9% of homes are selling above list price, a notably low figure that signals limited competitive pressure despite the double-digit appreciation, revealing a disconnect between seller pricing expectations and buyer willingness to compete.

The current conditions favor patient buyers with strong financing who can leverage the 104-day average marketing period to negotiate. Sellers who purchased before 2024 retain substantial equity from the 16.6% gain and should consider the 91% of homes selling at or below list as evidence to price competitively from listing day. Cash investors face less competition than in bidding-war markets, though the extended days-on-market metric suggests this is not a quick-flip environment where immediate appreciation can be captured.

The PropIQ score of 61 signals caution rather than momentum, suggesting the 16.6% appreciation rate may not be sustainable given the sluggish transaction velocity. The divergence between strong price gains and weak competitive indicators—9% above-list sales and 104-day absorption—typically precedes either price stabilization or correction. Monitor monthly sales volume and any increase in days-on-market beyond current levels, as these would confirm the market is transitioning from appreciation to stagnation despite the current year-over-year figures showing continued growth.