State of the Market: South Miami Dade
When it comes to real estate, when the media reports nationwide pricing and sales numbers it – obviously – has very little to do with the reality of pricing for an individual home. A little less obvious is that real estate data for Miami-Dade County only is slightly more correlated with the current market value of a home within Miami-Dade County.
The size of Miami-Dade (both population and area) is just so large that there are always areas within the County that are in a buyers market and areas that are in a sellers market. You really have to get more granular to see what is going on — which is why we like to look municipality by municipality to see what is going on (and even then, you really ought to look neighborhood by neighborhood).
With that in mind, South Miami Dade remains a fairly competitive real estate market. The number of homes for sale continues to climb, and prices remain relatively stable.
Let’s take a look at some specifics:
How Much Inventory is Available in South Miami Dade?
In April of 2025, there were 5,774 homes for sale in South Miami Dade, a figure that has been climbing steadily since the beginning of the year. That comes out to just over 6 months of inventory available, which indicates a buyer’s market.
Sales are on the lower side due to the heightened inventory and decreased demand, and that trend seems to be continuing for the foreseeable future. 920 sales took place in South Miami Dade in April of 2025, down from 990 the previous month.
So, there’s a surplus of homes for sale, and fewer sales taking place. Which indicates a more balanced market than the seller’s market we’ve been in for several years
What are Houses Selling for in South Miami Dade?
In April of 2025, the average for-sale price in South Miami Dade remained neutral at $2.47 million. That’s about the same range as the first few months of 2025.
The average selling price for a home in South Miami Dade remains neutral as well at $1.28 million. However, prices seem to be positioned for a slight decline going into the summer, with selling prices dropping 2.1% between March and April 2025.
Generally speaking, housing prices in South Miami are still considerably higher than this time last year, and most of 2024 for that matter. Houses are also spending more time on the market than last year, but this may change over the next few months if prices continue to drop.
What This Means for Buyers and Sellers
To recap, there’s plenty of homes for sale, fewer sales taking place, and selling prices appear to be dropping to numbers similar to what we saw in 2024.
Based on these observations, in general prices are holding up in residential real estate market, but inventory is growing, so sellers may have to go to greater lengths to make their homes stand out amid the rising inventory.
What does this mean for you? If you want to buy a home in South Miami Dade, there could be some room to negotiate. If you want to sell a home in South Miami Dade, you are likely sitting on some nice appreciation since you purchased. To get that sale though, the importance of having a good realtor is just increasing.
If you’re ready to sell your home in South Miami Dade, a great first step is contacting a local real estate agency, and the Kern Team is happy to be of service. We can make sure you do everything in your power to maximize your home’s value and pique the interest of opportunistic, high-quality buyers.
Get in touch today and let’s put together a plan for a quick and lucrative sale!
