33196
Miami, Florida

Miami's 33196 ZIP code shows a stabilizing market with a median sale price of $580,000, up just 0.9% year-over-year as of February 2026. Homes are averaging 91 days on market, substantially longer than the region's pandemic-era velocity, while only 6% of properties sell above asking price. This combination of minimal appreciation, extended marketing periods, and weak bidding competition indicates a market that has shifted decisively away from seller dominance into balanced territory with emerging buyer advantages.

These conditions favor patient buyers with financing secured and flexible timelines who can leverage the 91-day average DOM for negotiation positioning. The 6% above-ask rate means 94% of transactions close at or below listing price, creating room for offer strategies below advertised numbers. Sellers with equity built from 2020-2022 appreciation can still exit profitably, but those who purchased within the past 18 months face minimal appreciation headroom and should expect extended marketing periods unless priced competitively from listing day one.

The PropIQ score of 65 signals caution, suggesting downside risk exceeds upside potential in the near term. With price growth under 1% annually and days-on-market elevated, watch for inventory accumulation that could pressure prices downward if mortgage rates remain elevated or local employment conditions soften. Buyers should monitor month-over-month listing growth and absorption rates, as further inventory expansion without corresponding demand would likely push this market from balanced into buyer-favorable territory within two quarters.