The school-sector market south of Sunset Drive: A-rated Sunset Elementary, three jurisdictions in one polygon, and houses that trade in the millions on the strength of the address. There are 50 houses for sale today. We read the closings, house by house, and the rental rule, before anything here goes on a shortlist.
The market, not the pitch
Two sets of numbers, and the gap between them is the useful part. On the left, what sellers are asking today. On the right, what buyers actually paid over the last twelve months.
Source: MLS (Miami Realtors / Bridge), single-family houses in South Miami, Miami-Dade County, read on 3 November 2026. Active: 50 listings, 0 of them at or under $700,000, ranging from $1,299,000 to $172,500,000. Closed: 99 sales in the twelve months to that date, at a median 94.8% of the last asking price, in a median 93 days. Closed leases are excluded. The zone is the Sunset Elementary attendance polygon, not the postcodes around it.
The book on the market is priced above what has been closing, by roughly 38% on price per square foot. That is a mix effect as much as a discount: the large and the waterfront sit longer. It is also the reason we underwrite from closings, never from asking prices.
One market, several prices
No. Grouped by postcode, the spread is real: 33143 asks a median $9,710,000 ($1,565/sf); 33156 asks a median $27,500,000 ($3,639/sf). Anyone quoting you a single average is averaging across all of them.
| Postcode | For sale | Median ask | $/sf | Closed 12 mo | Median paid | $/sf paid |
|---|---|---|---|---|---|---|
| 33143 | 40 | $9,710,000 | $1,565 | 78 | $5,772,500 | $1,255 |
| 33156 | 11 | $27,500,000 | $3,639 | 11 | $17,950,000 | $2,564 |
| 33146 | 3 | · | · | 8 | $2,890,501 | $1,047 |
Read on 3 November 2026. Active listings and the closings of the twelve months to that date, grouped by postcode; a median on fewer than 5 records is withheld. The median house that sold was 4,486 sf and built in 1991. 16 of the 50 active houses are on water.
Live MLS · refreshed nightly
Pulled from the MLS every night. Open one to see the full record, or ask us to model it.
Before we recommend anything
0 of the 50 houses on the market mention Airbnb or short-term rental use in their own MLS text. The city has a written position against short stays in houses, and it has not been settled against state law. What makes this page useful is what the closings and the leases say about a house you keep or rent by the year. Here is what we read, on the property you are actually considering, before it goes on a shortlist.
The South Miami Land Development Code defines a tourist dwelling as a single-family or two-family house offered primarily on a daily, weekly, monthly or seasonal basis, and more than two turnovers a year in an RS district creates a rebuttable presumption of that use. Its use table permits a tourist dwelling only outside the residential districts. The code dates from 1989 (Ordinance 19-89-1441) and this definition carries no amendment note of its own, which points to a rule older than 1 June 2011, the cut-off in Florida Statute 509.032(7)(b). We have not seen a dated copy that proves it, and that date decides whether the state preemption reaches the rule. Read on 5 November 2026.
Treat short stays as unavailable unless the city says otherwise in writing. The Sunset sector also crosses three jurisdictions, South Miami, southern Coral Gables and High Pines, each with its own rule, so the answer here is read address by address. Annual leases are the income line.
What we read parcel by parcel is the record at the county and at the city, the flood zone and the roof age, and we note where we read it and on what date.
A homeowners association or a deed restriction can forbid what a city allows. On a house this is often the binding constraint.
What this means for an investor: underwrite this zone on annual leases and on resale, and count no short-stay income until the city confirms it in writing for the address. And the tax is not optional on a stay of six months or less: the county tourist development tax on top of 6% Florida sales tax and the county surtax, before any platform fee, and it is the operator's to collect and remit.
South Miami Land Development Code, section 20-2.3 (definitions) and the permitted use schedule in Article III and its table of amendments (library.municode.com), adopted by Ordinance 19-89-1441 of 25 October 1989; Florida Statutes 509.032(7)(b), 2025 text. A verification carries the source, the date and the reader, and it expires after twelve months, because codes change. Nothing on this page certifies that a rental is legal at any address, and no number here is a projection of what a house will earn.
Same coast, other rules
Other house neighborhoods a few minutes away, each with its own price and its own rental rule. The question that decides between them is answered on its own page.
Asked before every shortlist
Do not count on it. The South Miami Land Development Code defines a tourist dwelling as a single-family or two-family house offered primarily on a daily, weekly, monthly or seasonal basis, and more than two turnovers a year in an RS district creates a rebuttable presumption of that use. Its use table permits a tourist dwelling only outside the residential districts. The code dates from 1989 (Ordinance 19-89-1441) and this definition carries no amendment note of its own, which points to a rule older than 1 June 2011, the cut-off in Florida Statute 509.032(7)(b). We have not seen a dated copy that proves it, and that date decides whether the state preemption reaches the rule. Treat short stays as unavailable unless the city says otherwise in writing. The Sunset sector also crosses three jurisdictions, South Miami, southern Coral Gables and High Pines, each with its own rule, so the answer here is read address by address. Annual leases are the income line. Read on 5 November 2026.
50 are for sale on 3 November 2026, at a median asking price of $10,700,000 and $1,772 per square foot, from $1,299,000 to $172,500,000. Over the previous twelve months 99 sold, at a median $5,795,000 and $1,283 per square foot, in a median 93 days and at 94.8% of the last asking price.
63 single-family houses were leased through the MLS in the twelve months to 3 November 2026, at a median $13,800 a month and $4.85 per square foot. Against the median house sold in the same period that is a 2.9% gross yield before property tax, insurance, upkeep and vacancy, and it is a long-lease number, not a short-stay projection.
No. Grouped by postcode, the spread is real: 33143 asks a median $9,710,000 ($1,565/sf); 33156 asks a median $27,500,000 ($3,639/sf). Anyone quoting you a single average is averaging across all of them.
One email a week: what closed, what is new, one measured opinion. No listings dump.
The 12-month report · 24h
The closings of the last twelve months, the rents signed, and the rental rule with its source: the report behind the numbers on this page, plus a shortlist if you tell us the budget and what the house has to do.
What you get: the 12-month report on Sunset · a shortlist from the MLS and off-market · the parcel-level rental read, with its source and its date.
Send us the address. We come back with the closed comparables on its own street, the rents signed nearby and what the record says about rental use on that parcel.