Miami Lakes Real Estate Market Report: Key Insights for August 2025

Welcome to our in-depth look at the Miami Lakes real estate market! If you're a buyer, seller, or just curious about the local scene, this report dives into the latest trends based on verified transaction data. Unlike broad AI estimates, Zillow or Redfin, we're focusing solely on Miami Lakes to give you accurate, actionable insights. Whether you're eyeing a cozy condo or a spacious single-family home, understanding these stats can help you navigate the market smartly. Let's break it down by property type.

Jesus M. Fernandez

American Dream Maker, since 1995

Single-Family Homes: A Seller's Market with Shifting Winds

The single-family home segment in Miami Lakes is buzzing, but with some interesting changes on the horizon.

Inventory Trends

Inventory has been climbing steadily through 2025, bouncing back from a seasonal dip at the end of last year. This aligns with typical market cycles, and we can expect even more new listings in the coming six months. This could mean more choices for buyers and potentially cooler competition.

Months of Inventory

This key metric shows how long it would take to sell all current listings at the recent sales pace. A low number points to a seller's market, while higher figures favor buyers. Right now, Miami Lakes leans toward sellers, but that rising inventory might tip things toward buyers soon.

Average Sale Price

Prices fluctuate based on what's selling and property features. Current listings span from $530,000 for starter homes up to $2.8 million for luxury gems, with June's median average hitting $970,000—down from $1,099,000 in May.

Sales Activity

June saw 9 homes close, bringing the year-to-date total to 53. Interestingly, 38 of those sold below the original list price, some slashing over $100,000 after lingering more than 100 days in the market. On the flip side, 15 flew off the market at or above asking within just 10 days—proof that pricing right pays off.

Time to Contract and Close

The median time to snag a contract is 60 days, with closings averaging 97 days. Delays often stem from poor marketing, overpricing, appraisal hiccups, inspections, or financing snags.

Percent of Original Sales Price

This tracks how close sales get to the asking price. In hot seller's markets like August 2023, homes often went at or above list. In cooler times, sellers might settle for 10-15% less. Over the last 30 days there were 9 sales, 8 went below asking, but one fetched $13,000 over.

Townhouses and Condos: Heading Toward Buyer-Friendly Territory

Shifting to multifamily options, townhouses and condos offer affordability and variety in Miami Lakes.

Inventory Trends

Since February 2025, inventory has risen consistently, with more units expected in the next year. This could lead to better deals and more negotiating power for buyers.

Months of Inventory

The market here is balanced—neither sellers nor buyers have a clear edge. But with inventory growing, a buyer's market might be emerging.

Average Sale Price

Prices vary by community and layout. Year-to-date, sales ranged from $245,000 for a 1-bed/1-bath condo to $823,500 for a 4-bed/4-bath villa. Medium sales prices break down as follows: $259,000 for a 1-bed/1-bath (7 sold), $410,000 for a 2-bed/2-bath (18 sold), $525,000 for a 3-bed/2-bath (17 sold), and $615,000 for a 4-bed/3-bath (8 sold).

Sales Activity

June brought 7 closings, for a year-to-date of 57, of these 46 sold below the original list price, with the rest at or above, depending on the community.

Time to Contract and Close

Median contract time is 72 days, with closings following suit. Similar factors as single-family homes can extend this; e.g. poor marketing, over-pricing, inspection or buyer financing issues.

Wrapping Up: What's Next for Miami Lakes?

Overall, Miami Lakes remains a vibrant market with opportunities for both sides. Sellers should price strategically to avoid long waits, while buyers might find more leverage as inventory builds. For personalized advice or to dive deeper, reach out to me, your local real estate expert—I am your best bet for navigating these trends. To review my detailed Market report, visit https://www.ilovemiamilakes.com/market-report

Stay tuned for monthly updates, and happy house hunting!