Miami Beach, Florida Home Values
$527,619
0.9% 1-yr
The typical value of a home in Miami Beach is approximately $527,619, showing a 0.9% increase over the previous year and typically goes into pending status within approximately 55 days.
Neighborhood Overview
Miami Beach, Florida is a world-famous beach resort city located on a barrier island between the Atlantic Ocean and Biscayne Bay. Miami Beach is an island city off the south coast of Florida, known for its wide beaches, parkland, nightlife, and diverse population. It is a popular tourist destination, with over 23 million visitors each year. Miami Beach is a vibrant and inclusive city full of life, color, and fun, offering something for everyone.
Miami Beach has been a popular tourist destination since the early 20th century. The city is home to a variety of hotels, resorts, and attractions, including:
South Beach
South Beach is the most popular area of Miami Beach, known for its Art Deco architecture, nightlife, and shopping.
Lincoln Road Mall
Lincoln Road Mall is an outdoor shopping mall with over 200 stores and restaurants.
Lummus Park
Lummus Park is a beachfront park with a variety of amenities, including a playground, basketball courts, and a skate park.
Ocean Drive
Ocean Drive is a pedestrian-only street lined with restaurants, bars, and clubs.
Art Deco Historic District
The Art Deco Historic District is home to over 800 Art Deco buildings, including the Versace Mansion and the Colony Hotel.
Miami Beach Botanical Garden
The Miami Beach Botanical Garden is a 26-acre garden with a variety of plants and flowers from around the world.
What Is The JG Home Values Index?
The JG Home Values Index is a metric used to assess the fluctuations and trends in the valuation of residential properties. It provides insights into the relative changes in home prices over a specific period, aiding in the evaluation of real estate market performance and investment opportunities.
Real Estate Market Data
Side by side most updated data for Miami Beach, Florida
USA
- Median home price in September 2023: $394,300
- Existing-home sales in September 2023: 3.96 million units (seasonally adjusted annual rate), down 15.4% from September 2022
- New-home sales in August 2023: 675,000 units (seasonally adjusted annual rate), up 2.5% from July 2023
- Months of housing supply in September 2023: 3.1 months, up from 2.6 months in August 2023
Miami Beach, Florida
- Median home price in September 2023: $649,000
- Existing-home sales in September 2023: 2,345 units, down 12.4% from September 2022
- New-home sales in September 2023: 215 units, down 20.0% from September 2022
- Months of housing supply in September 2023: 2.5 months, up from 1.8 months in August 2023
Overall Trends
The US housing market is cooling in 2023, with home sales and prices slowing down. This is due to a number of factors, including rising mortgage rates, inflation, and a limited supply of homes for sale.
The Miami Beach housing market is also cooling in 2023, but it is still a relatively strong market. Home prices are still high, and demand for homes remains strong. However, the number of homes for sale is increasing, which is helping to moderate price growth.
What to Expect
The US housing market is expected to continue to cool in 2024, with home sales and prices slowing down further. However, the housing market is not expected to crash. There is still a strong underlying demand for housing, and the supply of homes for sale is limited.
The Miami Beach housing market is expected to remain relatively strong in 2024, although price growth is likely to slow down. Demand for homes in Miami Beach is still strong, and the supply of homes for sale is limited.
Want to sell your home fast?
Nearby Neighborhoods
Move forward with Your local partner Julio Gaton
Julio Gaton Advantage We offer a stress-free, comprehensive service that takes care of everything, from cash offers and as-is purchases to relocation services and transaction support. With us, you can enjoy a smooth, hassle-free selling experience that puts your needs first.
Effortless Home Selling Begins Here. Top Tips to Prepare Your Home for a Quick Sale.
Neighborhood
Our Services
Available time from 9AM – 10PM
Address: 25562 E. Sunrise Blvd., Suite 2104, Fort Lauderdale, Florida, 33304