Is Miami a seller's market right now?

{ "answer": "In Miami, the market does not strongly favor sellers right now. While there are fewer homes on the market compared to last year, other signs suggest a more balanced situation. There are 41,277 homes actively for sale, which is 12.3% fewer than at this time last year. This reduction in available homes could suggest some advantage for sellers. However, the median price for a home is $490,000, and it hasn't changed at all from the prior month. Prices are actually down by 2.0% compared to last year, which doesn't strongly support a seller's advantage. Homes are staying on the market for a median of 85 days, which is slightly less time than last year. Also, 14.9% of homes have had their prices reduced, showing that some sellers are adjusting their expectations. If you're thinking about selling, understand that buyers have options and might be looking for deals. Pricing your home competitively from the start could be a good strategy in this market." }