Miami, FL home prices and housing market

Miami homes are sitting for seventy-eight days while sellers keep asking more than buyers will pay. If you are thinking about selling this year, that gap between the asking price and real value decides your outcome. Start with the slowdown. There are nearly ten thousand homes for sale in Miami right now, so buyers have plenty of choice and they are taking their time. Meanwhile the typical Miami home is worth about five hundred sixty six thousand dollars, up less than one percent from a year ago, which is essentially flat. But here is what keeps this market stuck. The median asking price is around six hundred ten thousand dollars, well above what the typical home is actually worth. And only about twelve percent of listings have cut their price, so most sellers are waiting instead of adjusting. That is exactly why homes sit. So if you list this year, price at what your home is worth today, not at what your neighbors are asking. In a market this slow, the homes that sell are the ones priced right from day one. Find out where your home stands with a free estimate at Home Value Pros dot com.