Miami-Dade County is the largest county in the state of Florida and has an extraordinarily active housing market. Over the past several years most local municipalities have experienced double-digit increases in home values, sending the most recent sale prices to record high levels.
Based on information provided by the FloridaRealtors, the first quarter 2022 median home price across all housing types Miami-Dade County was reported to be $450,000, a year-over-year increase of 18.5%. For the same period, the median sale price of a single family home rose by 13.4% to $533,000 while condominiums and townhomes increased by 27.9% to $380,000.
Increases in the median price of housing was driven largely by the luxury market. During the quarter there were 656 single family homes that sold for $1,000,000 or more while, 818 townhomes and condominiums sold for $1,000,000 or more.
How did prices within individual markets in Miami-Dade county fare during the first quarter 2022? See below for the top 10 ranking of individual markets by the highest value as well as the most affordable local markets by median sale price for both single-family homes and townhomes / condominiums.
The 10 Highest Price Housing Markets in Miami-Dade (1Q 2022)
The median sale price is one of the preferred statistical methods for measuring price activity as it is not as sensitive of extraordinary high or low sale prices (that are not typical of a particular market area) which can easily skew the values.
Following are the Top 10 markets in Miami-Dade County for single-family homes ranked by median sale price (as of the 1Q 2022).
- Surfside (Town): $1,050,000
- Glenvar Heights (CDP): $1,074,500
- Biscayne Park (Village): $1,250,000
- Coral Gables (City): $1,787,500
- Pinecrest (Village): $2,050,000
- Sunny Isles Beach (City): $2,500,000
- Miami Beach (City): $2,550,000
- Key Biscayne (Village): $3,425,000
- Golden Beach (Town): $3,900,000
- Bay Harbor Islands (Town): $4,800,000
Important note: the municipalities of Bal Harbour, Fisher Island, Indian Creek and Medley did not report any single-family home sales to the FloridaRealtors database during the first quarter 2022.
Following are the Top 10 markets in Miami-Dade County for townhomes and condominiums ranked by median sale price (as of the 1Q 2022).
- Aventura (City): $400,000
- Miami Beach (City): $440,000
- Bay Harbor Islands (Town): $475,000
- Coral Gables (City): $516,000
- Miami (City): $535,000
- Surfside (Town): $1,050,000
- Sunny Isles Beach (City): $750,000
- Bal Harbour (Village): $1,295,000
- Key Biscayne (Village): $1,33,000
- Fisher Island (CDP): $6,390,000
Important note: there were 15 individual municipalities that did not report any townhome or condominium sales to the FloridaRealtors database during the first quarter 2022.
- Source: FloridaRealtors.org
The 10 Most Affordable Housing Markets in Miami-Dade (1Q 2022)
As indicated above, the median sale price is one of the preferred statistical methods for measuring price activity as it is not as sensitive of extraordinary high or low sale prices (that are not typical of a particular market area) which can easily skew the values.
Following are the Top 10 most affordable markets in Miami-Dade County for single-family homes ranked by median sale price (as of the 1Q 2022).
- Homestead (City): $401,000
- Miami Gardens (City): $390,000
- Naranja (CDP): $382,850
- Leisure City (CDP): $360,000
- Pinewood (CDP): $355,000
- Brownsville (CDP): $350,000
- West Little River (CDP): $345,000
- Gladeview (CDP): $327,000
- Florida City (CDP): $325,000
- Westview (CDP): $300,000
Important note: the municipalities of Bal Harbour, Fisher Island, Indian Creek and Medley did not report any single-family home sales to the FloridaRealtors database during the first quarter 2022.
Following are the Top 10 most affordable markets in Miami-Dade County for townhomes and condominiums ranked by median sale price (as of the 1Q 2022).
- West Perrine (CDP): $202,000
- Miami Springs (City): $192,500
- Leisure City (CDP): $189,500
- Opa-locka (City): $180,650
- North Miami (City): $180,000
- Golden Glades (CDP): $165,000
- Olympia Heights (CDP): $156,000
- Ojus (CDP): $155,000
- West Little River (CDP): $143,000
- South Miami Heights (CDP): $135,500
Important note: there were 15 individual municipalities that did not report any townhome or condominium sales to the FloridaRealtors database during the first quarter 2022.
- Source: FloridaRealtors.org
Are you thinking of selling?
Based on the year-end 2021 data, the current state of the market is highly favorable for seller. If you are a homeowner and are considering selling your personal residence, vacation home or investment property, not may be the perfect time to do so.
Our team has assisted sellers not only throughout the state of Florida, but in most major markets nationwide. We take a highly methodical and deliberate approach when working with or clients and have specific strategies to help get the best value for the property.
Contact us at info@quantumcos.com or learn more by visiting our web site at www.QuantumRealtyAdvisors.com.
The information provided in this website was derived from sources deemed to be reliable to is not guaranteed or warranted. All information, content, and materials available on this site are for general informational purposes only.
