Should I move to Miami?

The short answer is: Miami has a fairly typical real estate market right now, but prices have dropped a bit. The median listing price is $499,000. Prices have seen a slight decrease. The median listing price is down 2.2% compared to last year, and it’s down 0.1% from the previous month. This means homes are a little more affordable than they were recently. There are fewer homes for sale right now. Active listings have dropped by 15.4% compared to last year, and fewer new homes are coming onto the market, down 5.3% year-over-year. This limited supply could create more competition among buyers. Homes are also staying on the market a little longer. The median home now takes 79 days to sell, which is 2.6% longer than a year ago. However, the price-reduced share is down, meaning fewer sellers are cutting their prices. If you're thinking about moving to Miami, the slight dip in prices could be an advantage, but prepare for fewer homes to choose from.