33187
Miami, Florida

Miami's 33187 ZIP code shows clear buyer-market characteristics with a median sale price of $697,000 and an 8.6% year-over-year decline. Homes are sitting for an average of 144.5 days, nearly five months, indicating weak absorption rates. Only 13% of properties sell above asking price, confirming limited competitive pressure. This represents a significant cooldown from previous market conditions, with sellers forced to adjust expectations as inventory remains available for extended periods.

This environment favors patient buyers with financing secured who can negotiate below list price on 87% of transactions. The extended 144-5-day market time provides leverage for inspection contingencies and price concessions that were unavailable in tighter markets. Cash investors seeking rental yield may find opportunities, but the 8.6% price decline suggests waiting carries minimal risk of appreciation recovery. Sellers face disadvantages unless motivated by relocation or financial necessity, as holding costs accumulate during the prolonged listing period.

The PropIQ score of 51 signals neutral-to-negative momentum, suggesting prices have not found a floor. With days-on-market exceeding four months, further price reductions appear likely before demand stabilizes. Monitor month-over-month inventory growth and any acceleration in days-on-market beyond current levels, which would indicate deteriorating conditions. The 13% above-ask rate must increase to at least 25% before confirming renewed buyer confidence and price stabilization in this submarket.