The Tropics
Homes for Sale in Miami, FL

The Tropics market snapshot (as of September 20, 2026): the median sale price is about $565K ($379 per sq ft over the trailing 12 months of closed sales), and a median 9 days on market for closed sales. The trailing-12-month median is up 8% from the prior 12 months, computed from record-level MIAMI MLS closed sales (11 closings in the current window).

In ZIP 33147 (Miami), 181 homes closed in the last 12 months at a median of $462K ($368/sq ft), up 3.3% year over year, with a median 45 days on market. Right now 39 active and 33 pending listings — a healthy market. See the live ZIP 33147 housing market and the Miami-Dade County market.

MIAMI REALTORS sales records identify 289 homes in THE TROPICS that have changed hands since 2006, built between 1920 and 2016 (median 1954), with a median living area of about 1,260 sq ft and a typical 3-bedroom, 2-bath layout; 100% are single-family homes. Source: MIAMI REALTORS closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.

The Tropics is trading at a median of $490,000 with a compressed 5-day median time on market, a combination that signals price discovery is happening fast even as the year-over-year trend runs negative. Current MLS activity does not identify any community amenities, so value here is being driven by the homes themselves rather than shared facilities.

A 6.7% year-over-year decline paired with a 5-day median days on market is an unusual pairing worth sitting with. Normally a falling median coincides with properties sitting longer as sellers wait out buyer hesitation. Here, the opposite is true: homes are leaving the market almost as fast as they list. That suggests the price decline reflects a shift in what's selling — likely a change in the mix of homes closing — rather than broad buyer retreat.

The market heat score of 47 sits in the middle of the range, consistent with a market that is active but not frenzied. Combined with only 11 recorded closings, this is a data set where a single well- or poorly-priced listing can move the median noticeably. Anyone using recent comps to set a number should look at price per square foot alongside the median, since $362.96 per foot gives a steadier read on value than the median price alone when transaction volume is this light.

In a market with only 11 recent closings and a median that moved 6.7% in a year, the comp set is thin and easy to misread. We track The Tropics at the listing level — not just the trailing median — so pricing conversations start from what is actually active and pending right now, not a lagging average.

Listings in this community report association dues of about $10 per month — the median AssociationFee across 6 MLS records, normalised to a monthly figure; most are billed monthly. Dues change with budgets and can differ by section or product type; confirm the current figure with the association before you offer. Source: MLS listing records, 2026-09.

Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.