The housing market in North Miami, in northeast Miami-Dade, continues to be in strong demand with buyers, particularly the single-family sector.
There are currently 128 single family home units available for sale, ranging in price from $135,000 for a two bedroom, one bath corner lot home located at 200 NW 128th Street, to a new construction residence in the exclusive Sans Souci Island boasting 8 bedrooms, 12 baths listed at $14,900,000. Click here for more details on this exceptional home.
Of the 128 homes currently available for sale,
- Nine are two bedroom homes, listed from $135,000 up to $1.5 million.
- 63 are three bedroom homes, listed from $149,900 up to $2,450,000.
- 34 are four bedroom homes, available for sale from $160,000 up to $2,550,000.
- 13 are five bedroom homes, available from $429,000 up to $1,999,900.
- Four are six bedroom residences ranging in price from $1,370,000 up to $4,290,000.
- Two are eight bedroom residences, one listed at $589,000 and the other at $14,900,000.
In the previous 12 months, there were 317 homes sold in North Miami or 26.42 per month. With 128 homes in inventory, it would take 4.84 months to sell the current supply if no other homes came on the market. This makes it a seller’s market for single-family homes.
There are twice as many condominiums available for sale in North Miami. There are 256 units for sale ranging from $49,900 for a one bedroom, one bath at Northeast Palm Condo up to $1,950,000 for a three bedroom, three bath condo at the newly built Marina Palms development.
Of the 256 units available:
- Seven are studios ranging in price from $57,900 up to $165,000
- 85 are one bedroom units, ranging from $49,900 up to $237,000
- 122 are two bedroom units, available from $87,900 up to $1,550,000
- Five are four bedroom townhomes at the new development Parcview Villas, which features only 18 residences listed at $639,000.
In the previous 12 months, 260 condos were sold in North Miami, or 21.67 per month. At the current supply of 256 units, it would take 11.81 months to sell all the inventory. This provides an excellent opportunity for buyers to negotiate a fair deal as they have more options from which to choose.
If you’re looking to buy or sell a home in North Miami, or have some questions about the market, please feel free to contact me for assistance.
RE/MAX Advance Realty