Miami Buyers Gain More Choices as Listings Shift

The median home price in the Miami metro area fell 2.9% year-over-year to $495,000, with a 1% drop in price per square foot. Active listings declined 16.9%, one of the steepest drops among the largest 50 U.S. metros, while new listings decreased 2.9%. The median days on market also dropped by four days compared to last year. Nationally, the median list price fell 2.4% to $428,950.