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Miami Courant

Saturday, September 21, 2024

West Miami home prices fall in July 2018

Re 1

The median sale price of a home sold in July 2018 in West Miami fell by $50,000 while total sales remained unchanged with five homes sold, according to BlockShopper.com.

In July 2018, there were five homes sold, with a median sale price of $335,000 - a 13% decrease over the $385,000 median sale price for the same period of the previous year. There were five homes sold in West Miami in July 2017, as well.

The median sales tax in West Miami for the most recent year with available data, 2015, was $3,442, approximately 1% of the median home sale price for July 2018.

The following table compares West Miami to other Miami-Dade County cities with similar median sales prices in July 2018:

CityJuly 2018 Home SalesJuly 2017 Home Sales% change (Total Home Sales)July 2018 Median Sales PriceJuly 2017 Median Sales Price% change (Median Sales Price)
Palmetto Bay57545.6%$440,000$473,500-7.1%
Miami Lakes2526-3.8%$375,000$310,25020.9%
Virginia Gardens110%$371,600$335,00010.9%
Miami Springs1419-26.3%$370,000$420,000-11.9%
Sunny Isles Beach72677.5%$347,500$321,1008.2%
West Miami550%$335,000$385,000-13%
Miami Beach27122619.9%$335,000$300,00011.7%
South Miami1921-9.5%$322,300$519,000-37.9%
El Portal69-33.3%$316,500$410,000-22.8%
Country Walk30300%$312,500$330,500-5.4%
Doral968414.3%$302,500$236,50027.9%

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