Is Miami a seller's market right now?

Right now, Miami favors sellers due to fewer homes on the market and a healthy pace of homes going under contract. However, prices have seen a slight dip, suggesting buyers are still finding some opportunities. There are 43,929 homes for sale, which is 15.4% fewer than last year. This means buyers have fewer choices, and competition for desirable homes can be higher. Homes are also selling fairly quickly, with a median of 79 days on the market. This short marketing time indicates that buyers are making decisions relatively fast. The median listing price is $499,000, which is down 2.2% from last year. This small price decrease could give buyers a bit more leverage in negotiations. For sellers, this means while prices are down slightly, your home is likely to attract attention and go pending in a reasonable timeframe due to the lower number of overall homes for sale.