A new report from real estate site Zillow says that buyers have a lot of leverage when shopping for a home in Miami. The city ranks second to Baltimore in the site's ranking of best homebuyers' and sellers' markets in the U.S.

Buyers can likely avoid bidding wars—and can expect slashed asking prices—when house-hunting in Miami. According to the report, homes on the market in Miami stay there for an average of 103 days, and 11.5 percent of the listings have price cuts.

Zillow also broke down the best buyers and sellers markets in Miami by neighborhood.

Best sellers Markets:

1. South Miami Heights

2. The Crossings

3. Kendale Lakes

4. Margate

5. Fontainebleau

Best Buyers Markets:

1. Lauderdale by the Sea

2. Hallandale

3. North Bay Village

4. Aventura

5. Miami Shores

Sources:

The Bay Area Tops List of Best Markets for Sellers; Baltimore and Miami Are the Best for Buyers [Zillow]

Miami is the second best buyer's market in the US: report [The Real Deal Miami]