What happened to the median home price in Miami Beach during January 2021?

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The median sale price of a home sold in January 2021 in Miami Beach rose by $1,013,000 while total sales decreased by 38.7%, according to BlockShopper.com.

In January 2021, there were 146 homes sold, with a median sale price of $1,342,500 - a 307.4% increase over the $329,500 median sale price for the same period of the previous year. There were 238 homes sold in Miami Beach in January 2020.

The median sales tax in Miami Beach for the most recent year with available data, 2019, was $5,352, approximately 0.4% of the median home sale price for January 2021.

The following table compares Miami Beach to other Miami-Dade County cities with similar median sale prices in January 2021:

CityJan. 2021 Home SalesJan. 2020 Home Sales% change (Total Home Sales)Jan. 2021 Median Sales PriceJan. 2020 Median Sales Price% change (Median Sales Price)
Golden Beach42100%$4,125,000$3,306,25024.8%
Bal Harbour78-12.5%$2,300,000$552,500316.3%
Key Biscayne252025%$2,220,000$747,500197%
Miami Beach146238-38.7%$1,342,500$329,500307.4%
Coral Gables5681-30.9%$1,095,000$632,00073.3%
South Miami (unincorporated) 1435-60%$1,085,000$375,000189.3%
Sunny Isles Beach3873-47.9%$685,000$267,000156.6%
Palmetto Bay1860-70%$660,500$437,00051.1%
El Portal16-83.3%$655,000$472,00038.8%

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