Miami Real Estate: The Basics
To be a smart homebuyer, seller, or real estate investor, you need robust property data on your side.
Want to make wise real estate decisions this year? Our Miami real estate data or detailed property reports is here to help.
Miami’s metro area encompasses several other major Florida cities, including Fort Lauderdale, Port St. Lucie, West Palm Beach, Boca Raton, and Coral Springs and spans more than 6,100 square miles. The region is home to nearly 6.2 million residents.
Here’s a quick snapshot of the Miami real estate market at the end of 2019:
| Number of properties | 2.5 million |
|---|---|
| Total number of foreclosures* | 16,583 |
| Overall foreclosure rate | 0.66% (1 in every 151 housing units) |
| Median Sales Price | $270,000 |
| Average Homeownership Tenure | 8.42 years |
| Seller Gains | 45.9% |
| Home Flipping Rate | 6.4% |
| Gross Flipping Profit | $78,400 |
* In terms of overall foreclosure rates, Miami ranks at No. 16 among all U.S. metros. Foreclosures dropped 14% over 2018 and 17% over 2017.
A Look at Detailed Miami Property Data
Big-picture data is important, but if you really want to make the best decisions, you’ll need detailed property information as well.
If you’re considering buying or selling real estate in Miami this year, make sure you have this property-level data available first:
- Sales and owner history
- Foreclosure records
- Deed and recorded transaction data
- Mortgage loan history
- Building and lot characteristics (size, lot width, interior and exterior amenities, heating and cooling systems, etc.)
- Coordinate and geocode data
- Property tax data and records
- Valuations and assessments