33161
Miami, Florida

Miami's 33161 ZIP code reports a median sale price of $670,000 as of February 2026, representing an 11.9% year-over-year increase that outpaces national averages. Homes are averaging 87 days on market, indicating moderate absorption rates that suggest neither urgency nor stagnation. Only 8% of properties sold above asking price, a figure that reflects measured buyer behavior rather than competitive bidding wars. The price appreciation combined with extended DOM points to a market transitioning from last year's velocity.

These conditions favor sellers with equity positions who can afford the 87-day marketing window, particularly those upgrading within the same price tier to capitalize on the 11.9% gain. Cash buyers and patient investors benefit from the 92% of transactions at or below list price, creating room for negotiation absent in tighter markets. First-time buyers face headwinds from the $670,000 entry point and limited appreciation in bidding leverage, as the 8% above-ask rate offers minimal competitive advantage.

The PropIQ score of 61 signals caution, suggesting current price gains may not sustain at 11.9% annually given inventory dynamics. The widening gap between appreciation rate and absorption speed—evidenced by the 87-day DOM—warrants monitoring for potential correction indicators. Investors should track whether DOM extends beyond 90 days and if the percentage of above-list sales contracts further, both suggesting diminishing price support.