Should I move to Miami?

Deciding to move to Miami depends on what you're looking for, but the housing market here shows some interesting trends right now. The median listing price is $490,000, which is exactly the same as the previous month and a little lower than last year. Your money buys a bit more space, as the price per square foot is $355, a slight decrease from last year. There are fewer homes available than last year, with active listings down by 12.3%. This means you have fewer options to choose from when searching for a home. However, more new homes are coming onto the market compared to last year, up by 4.6%, which could give you more fresh choices as you look. Homes are selling a bit faster than they used to, staying on the market for 85 days on average. This is 4.5% less time than last year. Fewer sellers are also cutting their prices; the share of price-reduced homes is 14.9%, down by 1.4% from last year. Keep in mind that nearly a quarter of the active listings (0.23 pending ratio) are already under contract, which is a slightly higher share than last year. This suggests that while there are fewer homes overall, a good portion of the available homes are attracting buyers quickly. If you're thinking of moving, homes are selling a bit faster and there are more new listings appearing, but you'll have fewer total options than a year ago.