Miami home prices are up 4.3% on a rolling 12-month bases as reported by Knight Frank Research Prime Global Cities Index. While Q1 2016 saw a cooling in home prices in Miami, they are rising at a steady clip in Q2 2016. New York is down -.5% while Los Angeles is up 3.1% during that same time period. Miami finished 2015 as the 6th highest priced city in the world in terms of Price Per Square Foot in Prime Real Estate at $1,000 per SF.