As of the end of May 2019, residential condominiums in Downtown Miami’s zip code area 33131 have a median listing price of $512,590, and median days on market of 163 (much longer than the national average). There are 1903 currently active listings, with just 0.2% noted as “distressed listings” (foreclosures and short sales). After a dramatic drop in third quarter 2018, median sold prices are again slowly rising; but so is inventory.
Housing Market Trends – Sold vs. Listed
Understand the difference between “listing prices” (what sellers are asking for) and “sold prices” (what buyers are willing to pay). By comparing these price trends, you’ll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.
Housing Inventory Trends
The number of active listings in MIAMI (33131) increased by 25.4% from the previous month. The median number of days active properties have been listed is 163. This is much longer than the national average.
Property Ownership
MIAMI (33131) has a high % of unoccupied properties. It is 20.41% more than the national average. This can drive sales prices down. The percent of owner occupied properties in MIAMI (33131) is 37.44% below the national average. The percent of rental properties in MIAMI (33131) is 19.83% above the national average which is typical for urban areas.
Zip code 33131 encompasses the Brickell Financial District east of South Miami Avenue and the historic Central Business District south of NE 1st Street for a total of .49 square miles of land area. There are approximately 15,000 full time residents (per 2010 census) with a median age of 37.
Neighborhood and sold information provided by Onboard Informatics © 2019 Onboard informatics. Information deemed reliable but not guaranteed. Some sales are not immediately available from public records. As they become available, the data are updated.