33147
Miami, Florida

Miami's 33147 ZIP code shows clear cooling with the median sale price at $445,000, down 3.7% year-over-year. Homes average 60 days on market, indicating moderate absorption rates rather than the rapid turnover seen in peak cycles. Only 9% of properties sold above asking price, confirming limited competitive pressure. This price compression reflects broader normalization after Miami's pandemic-era surge, with sellers now adjusting expectations to match current demand levels.

These conditions favor cash buyers and investors seeking entry points below recent peaks. The 3.7% price decline creates negotiating leverage absent during tighter inventory periods, while the 60-day market time allows proper due diligence without rushed decisions. Traditional owner-occupant buyers benefit from reduced competition, given only 9% bidding wars. Sellers face headwinds and should price aggressively given the downward trajectory and moderate absorption pace.

The PropIQ score of 55 signals caution, suggesting further price discovery ahead rather than immediate stabilization. Monitoring days-on-market trends will indicate whether the current 60-day average extends further, which would pressure additional price reductions. The sub-10% above-list metric suggests this market hasn't found its floor, making the next 90 days critical for determining whether depreciation continues or stabilizes near current levels.