In January 2021, there were seven homes sold, with a median sale price of $600,000 - a 47.2% increase over the $407,500 median sale price for the same period of the previous year. There were 24 homes sold in South Miami in January 2020.
The median sales tax in South Miami for the most recent year with available data, 2019, was $5,159, approximately 0.9% of the median home sale price for January 2021.
The following table compares South Miami to other Miami-Dade County cities with similar median sale prices in January 2021:
| City | Jan. 2021 Home Sales | Jan. 2020 Home Sales | % change (Total Home Sales) | Jan. 2021 Median Sales Price | Jan. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Surfside | 12 | 13 | -7.7% | $710,000 | $525,000 | 35.2% |
| Sunny Isles Beach | 38 | 73 | -47.9% | $685,000 | $267,000 | 156.6% |
| Palmetto Bay | 18 | 60 | -70% | $660,500 | $437,000 | 51.1% |
| El Portal | 1 | 6 | -83.3% | $655,000 | $472,000 | 38.8% |
| Miami Shores | 20 | 26 | -23.1% | $655,000 | $527,500 | 24.2% |
| South Miami | 7 | 24 | -70.8% | $600,000 | $407,500 | 47.2% |
| Biscayne Park | 2 | 4 | -50% | $567,500 | $530,000 | 7.1% |
| Miami Lakes | 6 | 46 | -87% | $450,500 | $378,750 | 18.9% |
| West Miami | 3 | 5 | -40% | $445,000 | $322,000 | 38.2% |
| North Miami Beach | 21 | 61 | -65.6% | $435,000 | $177,000 | 145.8% |
| Miami Springs | 3 | 18 | -83.3% | $425,000 | $427,250 | -0.5% |
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