Selling a House in Miami

Where Miami values stand for sellers right now

The all-homes index for Miami is $583,705, up 1.4% in a year and 40.1% over five years. It peaked at $593,640 in September 2024 and sits 1.7% below that today. Statewide, Florida values fell 0.9% over the same year, so Miami is outperforming the state.

The split between property types is the real story. Single-family houses keep inching up. Condos have slipped since early 2024. Miami's housing is mostly condo: Census data shows 55.3% of homes are in buildings with 10 or more units and only 22.4% are single-family detached. A detached house in this city is the scarcer product, and the numbers show buyers paying for that.

Price bands and bedroom counts: where demand is strongest

Zillow's bedroom figures give a rough price ladder: 1-bedroom $351,134, 2-bedroom $450,924, 3-bedroom $620,623, 4-bedroom $784,938 and 5-bedroom-plus $1,268,859. The lower third of the market tops out around $352,706, while the upper third starts near $981,623.

For sellers, the jump from three to four bedrooms is $164,315, and from four to five-plus it is $483,921. Those gaps are why accurate room counts matter so much in a listing. A den that legally counts as a bedroom, with a closet, window and permits, can move a house into a different band. An unpermitted conversion can do the opposite once the buyer's appraiser and inspector see it.

The 1-bedroom and lower-third segment overlaps heavily with older condos, where buyers weigh reserves and special assessments. The 3- and 4-bedroom house segment is where Miami's year-over-year strength sits.

Neighborhoods rising and neighborhoods flat

Zillow's neighborhood data shows wide gaps inside the city over the last year:

• Strongest gains: North-East Coconut Grove up 11.4% to $1,532,653, Shenandoah up 7.9% to $863,599, Little Haiti up 7.2% to $615,550, Coral Way up 6.0% to $715,126, and South Miami up 5.9% to $1,063,139.
• Steady: Westchester up 2.6%, Palmetto Estates up 2.3%, Tamiami up 2.2%, Kendall up 0.4%.
• Slightly down: Kendall West down 2.7%, Overtown down 1.6%, Downtown down 1.5%, Brickell down 1.3%, Liberty City and Three Lakes each down 1.3%.

Downtown and Brickell are dominated by condo towers, which matches the condo index trend. Neighborhoods made up mostly of houses are carrying the gains. Over five years the spread is just as wide: Little Haiti is up 56.5% and North-East Coconut Grove 63.0%, while Downtown is up 22.9% and Little Havana 23.4%. If you bought in a strong-gaining area, your equity may be larger than you think.

What a Miami-Dade seller pays at closing

Miami-Dade has its own deed tax rate. Deed doc stamps are $0.60 per $100 of price for a single-family home, so $3,986.49 on a $664,415 house. For property other than single-family homes, such as condos, a $0.45 surtax applies on top, for $1.05 per $100, or $4,027.08 on a $383,531 condo. In Miami-Dade, the buyer customarily pays for the owner's title policy, though the contract controls.

Other seller costs: the property tax proration (Florida taxes are paid in arrears, so you credit the buyer for your share of the year), condo or HOA estoppel fees, mortgage payoff, and whatever you negotiate for agent compensation. Commissions are negotiable, and since August 2024 any buyer-agent compensation is a separate decision you make case by case. Foreign sellers should plan for FIRPTA withholding at closing. This isn't legal or tax advice; talk to a CPA about your gain, especially after a 40.1% five-year run.

Getting a Miami house past the buyer's insurance check

The median Miami home was built in 1979, so many houses on the market are 40-plus years old. That makes insurance the first hurdle for a financed buyer. Before listing, gather the roof permit and age, a wind mitigation report, a 4-point inspection if the home is older, impact window and shutter permits, and your flood zone and any elevation certificate. Since October 1, 2025, you also owe the buyer a written flood disclosure covering flood damage during your ownership, flood claims and federal flood assistance. Homes with documents ready get firm offers faster, because the buyer's agent can price insurance during the first days of the inspection period.

If what you are selling is a Miami condo

Condo sellers face a different buyer. With the condo index 7.5% below its March 2024 high, buyers compare buildings as much as units. Ask the association for the milestone inspection report, the Structural Integrity Reserve Study, the current budget and any special assessment notices before you list, and price your unit with those in mind. Buildings with funded reserves and completed inspections are easier for lenders to approve, which keeps financed buyers in your pool. Resale condo buyers in Florida can cancel within 7 days (excluding weekends and legal holidays) after receiving the association documents, so delivering a complete package early prevents a late cancellation. Estoppel fees are capped by statute and usually fall to the seller under the contract.

If the unit or house was your homestead and you are buying again in Florida within three years, portability lets you carry up to $500,000 of Save Our Homes benefit to the new home.

Pricing and timing a Miami listing

For a house, today's data supports pricing at the level of recent nearby sales, since the index is within 1% of its peak and still rising. Compare against nearby cities too, because buyers do: Hialeah at $443,765, Doral at $548,839, Cutler Bay at $563,335 and Coral Gables at $1,571,133 frame what a buyer gives up or gains by choosing your area. For a condo, use closed sales from the last few months in your building or comparable buildings, factor in any assessment and the milestone inspection status, and avoid anchoring to a 2024 price. If you want a number built from sales on your own street, the valuation request is the next step.