Miami has been rated the 2nd Best Home Buyer's Market in U.S. according to a report by Zillow. Zillow reported that 11.5% of active listings have suffered a price cut and homes in the region have averaged 108 day on market. To put that in comparison, the Top Seller's Market per the same report is San Francisco, which has an average days on market of 51. San Francisco is followed by San Jose, Seattle, Denver and Portland as the top Seller's Markets in the U.S. The Top Buyer's Market according to the same report is Baltimore, followed by Miami, Philadelphia, Chicago and Houston. When breaking down Miami by neighborhood:
Best 5 Miami Neighborhoods to be Buyer:
- Lauderdale by the Sea - 18.7% of Listings Price Cut - 141 Average Days on Market
- Hallandale - 15.6% of Listings Price Cut - 175 Days on Market
- North Bay Village - 13.8% of Listing Price Cut - 179 Days on Market
- Aventura - 13.8% of Listing Price Cut - 177 Days on Market
- Miami Shores - 15% of Listings Price Cut - 134 Days on Market
Best 5 Miami Neighborhoods to be Seller:
- South Miami Heights - 6.3% Listings Price Cut - 94 Days on Market
- The Crossings - 8.6% of Listings Price Cut - 86 Days on Market
- Kendall Lakes - 6.4% Listings Price Cut - 95 Days on Market
- Margate - 9% of Listings Price Cut - 88 Days on Market
- Fountainbleau - 6.3% Listings Price Cut - 98 Days on Market