South Miami, FL housing market

The median sale price in South Miami, FL was $760K in May 2026, down 30.9% year over year, measured across homes that actually closed that month (Redfin). The three months through May 2026 averaged $926K, easing from $1.04M across the three months before that. That puts prices 32.4% below the strongest three-month stretch on record here, which ended in Mar 2025 at $1.37M.

Buyers had 52 homes to choose from in May 2026, down 20.0% year over year (Redfin). At the current sales pace that standing inventory works out to 3.3 months of supply; convention treats four to six months as a balanced market, which puts South Miami, FL on the sellers' side of that line. 15 homes came to market in May 2026, up 25.0% year over year, against 16 closings, up 128.6% year over year. Homes that sold in May 2026 took a median of 58 days to go under contract, in line with this market's usual May pace.

Competition is measurable in the closings themselves: 12% settled above asking, and the average sale landed at 95% of its final list price. 25% of listings carried a price cut in May 2026.

This page tracks 9 monthly housing series for South Miami, FL — median sale price, inventory (active), median days on market, months of supply, homes sold, new listings, and more — sourced from Redfin, running from Aug 2016 through May 2026. Chart any of them below, switch between levels and year-over-year change, or add nearby Florida markets to compare side by side.