What is the cost of living in Miami?

Right now, the median home listing price in the Miami-Fort Lauderdale-West Palm Beach area is $490,000. This price hasn't changed much from the prior month, but it's a little lower than it was over the past year. The median listing price is $490,000. While it hasn't changed month-over-month, it's 2.0% lower than it was at this time over the past year. This shows a slight decrease in what homes are being listed for compared to last year. Homes in the area are spending about 85 days on the market before going under contract. This is 4.5% less time than over the past year, meaning homes are selling a bit quicker now. There are 41,277 active listings, which is 12.3% fewer homes available compared to the prior year. However, new listings are up 4.6% year-over-year, with 10,234 homes recently added to the market. The median price per square foot is $355, a 0.6% decrease from the prior year. Also, 14.9% of homes have had their prices reduced, which is slightly less common than a year ago.