Miami Shores Real Estate Market Report for April 2014

Miami Shores Homes – Real Estate Market Report

There are currently 90 Miami Shores homes for sale: (4 more than last month)

• Highest priced listing is $3,999,999 (1300 NE 94 St on wide bay) *featured in January

• Lowest priced listing is $247,000 (Short Sale at 10682 NE 11 Ct – CASH ONLY)

• Pending Sales (Properties under contract): 35 (2 less than last month)

• Closed sales in April:  15 (3 more than last month)

The 15 Miami Shores homes sold in April were the following:

• 152 NW 103 St – listed for $245,000 and selling for $248,745 ($167/sf)
• 1160 NE 110 Te – listed for $319,900 and selling for $310,000 ($141/sf)
• 131 NW 110 St – listed for $319,900 and selling for $310,000 ($268/sf)
• 185 NW 107 St – listed for $325,000 and selling for $315,000 ($213/sf)
• 360 NE 103 St – listed for $339,500 and selling for $315,000 ($168/sf)
• 121 NE 110 St – listed for $375,000 and selling for $300,000 ($116/sf)
• 150 NW 98 St – listed for $395,000 and selling for $380,000 ($213/sf)
• 125 NW 95 St – listed for $397,500 and selling for $375,000 ($188/sf)
• 10666 NE 11 Av – listed for $459,000 and selling for $445,000 ($254/sf)
• 1226 NE 100 St – foreclosure listed for $480,000 and selling for $500,500 ($227/sf)
• 171 NE 102 St – listed for $575,000 and selling for $560,000 ($278/sf)
• 9290 N Bayshore Dr – listed for $786,000 and selling for $716,000 ($201/sf)
• 1640 NE 104 St – listed for $850,000 and selling for $835,000 ($269/sf)
• 1167 NE 99 St – listed for $890,000 and selling for $827,000 ($408/sf)
• 9839 NE 13 Av – listed for $2,999,000 and selling for $2,800,000 ($696/sf) **BAYFRONT

The average sales price per square foot for Miami Shores homes in April was $222, compared to the average in March, which was $248. The average in February was $190/sf and the average in 2013 was $215.  This shows us that monthly averages only shows us a trend, but not necessarily real numbers for comparables.  An appraiser would pull the last 6 months of sales in an area, never go by last year’s numbers or just the previous month.

When deciding to list your home, average price per square foot would be one of the factors to consider when pricing the home, others will include condition and location.  If you notice from the sales last month, homes further east in Miami Shores, are selling for more, desirability increases as you are closer to Biscayne Bay.

If you are interested in getting a list of all properties currently for sale in Miami Shores, we will be happy to send you a digital copy at your request.  Feel free to email us at MiamiShores@miamism.com